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Other Expense (Income)
 12 Months Ended
Mar. 31, 2017
Other Income and Expenses [Abstract]  
OTHER EXPENSE (INCOME)
OTHER EXPENSE (INCOME)
“Other expense (income), net” is comprised of the following (in millions).
 
 
 
Year Ended March 31,
 
 
2017
 
2016
 
2015
Foreign currency remeasurement (gain) loss, net (A)
 
$
(5
)
 
$
(2
)
 
$
27

(Gain) loss on change in fair value of other unrealized derivative instruments, net (B)
 
(5
)
 
4

 
—

Loss (gain) on change in fair value of other realized derivative instruments, net (B)
 
61

 
(64
)
 
2

Loss on sale of assets, net
 
6

 
4

 
5

Loss on sale of business (C)
 
27

 
—

 
—

Loss on Brazilian tax litigation, net (D)
 
5

 
5

 
7

Interest income
 
(11
)
 
(13
)
 
(7
)
Gain on business interruption insurance recovery (E)
 
—

 
(10
)
 
(19
)
Other, net
 
17

 
8

 
2

Other expense (income), net
 
$
95

 
$
(68
)
 
$
17

 
(A)
Includes “(Gain) loss recognized on balance sheet remeasurement currency exchange contracts, net.”
(B)
See Note 15 — Financial Instruments and Commodity Contracts for further details.
(C)
On September 30, 2016, we sold our 59.15% equity interest in Aluminum Company of Malaysia Berhad (ALCOM), a previously consolidated subsidiary, to Towerpack Sdn. Bhd. for $12 million (MYR 48 million), which was recorded in "Accounts Receivable, net" as of September 30, 2016, and received in October 2016. The transaction includes our interest in the Bukit Raja, Malaysia facility, which processed aluminum within the construction/industrial and heavy and light gauge foil markets, and the wholly-owned entity Alcom Nikkei Specialty Coatings Sdn. Berhad. This sale is part of our continued strategy to exit certain non-core operations and align our growth strategy in the premium product markets. The sale resulted in a loss of $27 million during the year ended March 31, 2017. As a result of this sale, we no longer own any interest in ALCOM.
(D)
See Note 20 — Commitments and Contingencies – Brazil Tax and Legal Matters for further details.
(E)
We experienced an outage at the hotmill in the Logan facility in North America due to an unexpected motor failure in fiscal 2015 and recognized gains of $10 million and $13 million during the years ended March 31, 2016 and March 31, 2015, respectively. Additionally, the fiscal year 2015 gain also includes an insurance settlement which resulted in a gain of $6 million related to lost shipments and profits resulting from an electrical short circuit impacting a hot mill motor at one of our facilities in our Europe segment in fiscal 2015.