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Consolidated Statements of Cash Flows (USD $)
In Millions, unless otherwise specified
12 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2012
OPERATING ACTIVITIES      
Net income $ 104 $ 203 $ 90
Adjustments to determine net cash provided by operating activities:      
Depreciation and amortization 334 292 329
Gain on unrealized derivatives and other realized derivatives in investing activities, net (3) (28) (7)
(Gain) loss on assets held for sale (6) (3) 111
Loss on extinguishment of debt 0 7 0
Deferred income taxes (129) (31) (33)
Amortization of fair value adjustments, net 12 12 16
Equity in net loss of non-consolidated affiliates 12 16 13
(Gain) loss on foreign exchange remeasurement of debt (2) 8 13
Loss on sale of assets 9 6 3
Impairment charges 24 4 46
Amortization of debt issuance costs and carrying value adjustment 26 27 25
Other, net (4) 1 3
Changes in assets and liabilities including assets and liabilities held for sale (net of effects from divestitures):      
Accounts receivable 106 (121) 47
Inventories 17 (160) 214
Accounts payable 159 6 (188)
Other current assets 0 (36) (10)
Other current liabilities 32 28 (67)
Other noncurrent assets (9) (10) 9
Other noncurrent liabilities 20 (18) (58)
Net cash provided by operating activities 702 203 556
INVESTING ACTIVITIES      
Capital expenditures (717) (775) (516)
Proceeds from sales of assets, third party, net of transaction fees 8 19 12
Proceeds from the sale of assets, related party, net of transaction fees 8 2 4
(Outflows) proceeds from investment in and advances to non–consolidated affiliates, net (16) 3 (1)
Proceeds from settlement of other undesignated derivative instruments, net 15 4 59
Net cash used in investing activities (702) (747) (442)
FINANCING ACTIVITIES      
Proceeds from issuance of debt 169 319 271
Principal payments (164) (97) (22)
Short–term borrowings, net 208 332 2
Dividends, noncontrolling interest 0 (2) (1)
Acquisition of noncontrolling interest in Novelis Korea Ltd. 0 (9) (344)
Debt issuance costs (8) (8) (2)
Net cash provided by (used in) financing activities 205 535 (96)
Net increase (decrease) in cash and cash equivalents 205 (9) 18
Effect of exchange rate changes on cash 3 (7) (12)
Cash and cash equivalents — beginning of period 301 317 311
Cash and cash equivalents — end of period $ 509 $ 301 $ 317