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Currency (Gains) Losses
 12 Months Ended
Mar. 31, 2014
Foreign Currency [Abstract]  
CURRENCY (GAINS) LOSSES
CURRENCY (GAINS) LOSSES
The following currency (gains) losses are included in “Other income, net” in the accompanying consolidated statements of operations (in millions).
 
 
 
Year Ended March 31,
 
 
2014
 
2013
 
2012
(Gain) loss on remeasurement of monetary assets and liabilities, net
 
$
(26
)
 
$
(16
)
 
$
16

Loss (gain) recognized on balance sheet remeasurement currency exchange contracts, net
 
17

 
5

 
(6
)
Loss released from accumulated other comprehensive income
 
2

 
1

 
1

Currency (gains) losses, net
 
$
(7
)
 
$
(10
)
 
$
11


The following currency gains (losses) are included in “AOCI,” net of tax and “Noncontrolling interests” (in millions).
 
 
 
Year Ended March 31,
 
 
2014
 
2013
 
2012
Cumulative currency translation adjustment — beginning of period
 
$
(30
)
 
$
23

 
$
114

Effect of changes in exchange rates
 
120

 
(42
)
 
(79
)
Sale of investment in foreign entities (A)
 
—

 
(11
)
 
(12
)
Cumulative currency translation adjustment — end of period
 
$
90

 
$
(30
)
 
$
23


(A)
We reclassified $11 million and $12 million of cumulative currency gains from AOCI to “(Gain) loss on assets held for sale” in the years ended March 31, 2013 and March 31, 2012, respectively, related to the sale of three aluminum foil and packaging plants in Europe. See Note 5 — Assets Held For Sale.