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Currency (Gains) Losses
 12 Months Ended
Mar. 31, 2015
Foreign Currency [Abstract]  
CURRENCY (GAINS) LOSSES
CURRENCY (GAINS) LOSSES
The following currency (gains) losses are included in “Other expense (income), net” in the accompanying consolidated statements of operations (in millions).
 
 
 
Year Ended March 31,
 
 
2015
 
2014
 
2013
Loss (gain) on remeasurement of monetary assets and liabilities, net
 
$
14

 
$
(26
)
 
$
(16
)
Loss released from accumulated other comprehensive income
 
3

 
2

 
1

Loss recognized on balance sheet remeasurement currency exchange contracts, net
 
10

 
17

 
5

Currency losses (gains), net
 
$
27

 
$
(7
)
 
$
(10
)

The following currency (losses) gains are included in Accumulated other comprehensive loss (“AOCI”) and “Noncontrolling interests” in the accompanying consolidated balance sheets (in millions).
 
 
 
Year Ended March 31,
 
 
2015
 
2014
 
2013
Cumulative currency translation adjustment — beginning of period
 
$
90

 
$
(30
)
 
$
23

Effect of changes in exchange rates
 
(304
)
 
120

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

 
—

 
(11
)
Cumulative currency translation adjustment — end of period
 
$
(214
)
 
$
90

 
$
(30
)

(A)
We reclassified $11 million of cumulative currency gains from AOCI to “Gain on assets held for sale, net” in the year ended March 31, 2013, related to the sale of three aluminum foil and packaging plants in Europe.