Property, Plant and Equipment (Tables)

12 Months Ended

Mar. 31, 2024

Property, Plant and Equipment [Abstract]

Schedule of property, plant and equipment

Property, plant and equipment, net consists of the following.

	March 31,
in millions	2024		2023
Land and property rights	$	221	$	204
Buildings	2,013		1,957
Machinery and equipment(1)	6,284		5,990
Gross property, plant and equipment (excluding construction in progress)	8,518		8,151
Accumulated depreciation and amortization	(4,412)		(4,014)
Property, plant and equipment, net (excluding construction in progress)	4,106		4,137
Construction in progress	1,635		763
Property, plant and equipment, net(2)	$	5,741	$	4,900

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(1)In addition to equipment under finance leases, machinery and equipment also includes furniture, fixtures, and equipment.

(2)Included in property, plant and equipment, net are $25 million and $31 million of finance leases as of March 31, 2024 and 2023, respectively. This balance of finance leases represents gross finance leases of $46 million, net of accumulated amortization of $21 million, and $49 million, net of accumulated amortization of $18 million, as of March 31, 2024 and 2023, respectively. Of the $46 million and $49 million of gross finance leases as of March 31, 2024 and 2023, $45 million and $48 million were included in machinery and equipment, respectively. The remainder is included in buildings.

Schedule of depreciation expense

Depreciation expense related to property, plant and equipment, net is shown in the table below.

in millions	Fiscal 2024		Fiscal 2023		Fiscal 2022
Depreciation expense related to property, plant and equipment, net included in depreciation and amortization	$	481	$	466	$	457

Schedule of asset retirement obligations

in millions	Asset Retirement Obligation at Beginning of Period		Obligations Incurred		Acquisition		Foreign Exchange & Other Adjustments		Settlements		Asset Retirement Obligation at End of Period
Fiscal 2024	$	21	$	—	$	—	$	—	$	—	$	21
Fiscal 2023	21		—		—		—		—		21
Fiscal 2022	25		—		—		—		(4)		21