Debt (Tables)

6 Months Ended

Sep. 30, 2024

Debt consists of the following.


	September 30, 2024								March 31, 2024
in millions	Interest Rates(1)		Principal		Unamortized Carrying Value Adjustments(2)		Carrying Value		Principal		Unamortized Carrying Value Adjustments(2)		Carrying Value
Short-term borrowings	6.45	%	$	868	$	—	$	868	$	759	$	—	$	759
Floating rate Term Loans, due September 2026	6.25	%	743		(3)		740		746		(4)		742
Floating rate Term Loans, due March 2028	6.75	%	482		(5)		477		485		(5)		480
3.25% Senior Notes, due November 2026	3.25	%	750		(4)		746		750		(6)		744
3.375% Senior Notes, due April 2029	3.375	%	558		(7)		551		540		(7)		533
4.75% Senior Notes, due January 2030	4.75	%	1,600		(17)		1,583		1,600		(18)		1,582
3.875% Senior Notes, due August 2031	3.875	%	750		(8)		742		750		(8)		742
China Bank Loans, due August 2027	3.90	%	49		—		49		53		—		53
China Loan, due September 2027	2.80	%	14		—		14		—		—		—
Finance lease obligations and other debt, due through December 2031	4.44	%	17		—		17		23		—		23
Total debt			$	5,831	$	(44)	$	5,787	$	5,706	$	(48)	$	5,658
Less: Short-term borrowings			(868)		—		(868)		(759)		—		(759)
Less: Current portion of long-term debt			(30)		—		(30)		(33)		—		(33)
Long-term debt, net of current portion			$	4,933	$	(44)	$	4,889	$	4,914	$	(48)	$	4,866

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(1)Interest rates are the stated rates of interest on the debt instrument (not the effective interest rate) as of September 30, 2024, and therefore exclude the effects of related interest rate swaps and accretion and amortization of debt issuance costs related to refinancing transactions and additional borrowings. We present stated rates of interest because they reflect the rate at which cash will be paid for future debt service.

(2)Amounts include unamortized debt issuance costs, fair value adjustments, and debt discounts.

Principal repayment requirements for total debt over the next five years and thereafter

Principal repayment requirements for our total debt over the next five years and thereafter using exchange rates as of September 30, 2024, for our debt denominated in foreign currencies are as follows (in millions).


As of September 30, 2024	Amount
Short-term borrowings and current portion of long-term debt due within one year	$	898
2 years	761
3 years	792
4 years	470
5 years	559
Thereafter	2,351
Total	$	5,831