Income Taxes (Tables)

12 Months Ended

Mar. 31, 2019

Income Tax Disclosure [Abstract]

Sources Of Income Before Income Taxes Classified Between Domestic And Foreign Entities

The sources of income (loss) from continuing operations, before income taxes, classified between domestic entities and those entities domiciled outside of the United States, are as follows:

	Fiscal Years Ended
(in millions)	March 31, 2019		March 31, 2018		March 31, 2017
Domestic entities	$	511	$	454	$	(157	)
Entities outside the United States	1,004		850		(17		)
Total	$	1,515	$	1,304	$	(174	)

Components Of Income Tax Provision

The income tax expense (benefit) on income (loss) from continuing operations is comprised of:

	Fiscal Years Ended
(in millions)	March 31, 2019			March 31, 2018			March 31, 2017
Current:
Federal	$	(50	)	$	392		$	(32	)
State	42			16			14
Foreign	218			247			36
	210			655			18
Deferred:
Federal	95			(899		)	(7		)
State	23			(59		)	(1		)
Foreign	(40		)	61			(84		)
	78			(897		)	(92		)
Total income tax expense (benefit)	$	288		$	(242	)	$	(74	)

Federal Statutory Tax Rate To Effective Tax Rate Reconciliation

The major elements contributing to the difference between the U.S. federal statutory tax rate and the effective tax rate ("ETR") for continuing operations is below. Due to the Company's fiscal year, the U.S. federal weighted statutory tax rate for the fiscal years ended March 31, 2019 and March 31, 2018 were of 21.0% and 31.5%, respectively.

	Fiscal Years Ended
	March 31, 2019		March 31, 2018		March 31, 2017
Statutory rate	21.0	%	31.5	%	(35.0	)%
State income tax, net of federal tax	3.2		2.0		(4.0	)
United States Tax Reform	(3.4	)	(40.6	)	—
Change in Indefinite Reinvestment Assertion	(3.1	)	3.3		—
Loss of attributes due to merger	—		5.1		—
Change in uncertain tax positions	(1.5	)	(0.2	)	(3.4	)
Foreign tax rate differential	(18.4	)	(5.7	)	(40.0	)
Capitalized transaction costs	0.1		1.0		12.1
Change in valuation allowances	16.9		(7.7	)	34.3
Excess tax benefits for stock compensation	(1.1	)	(3.0	)	(11.3	)
Prepaid tax asset amortization	—		0.3		7.1
Income Tax and Foreign Tax Credits	(0.6	)	(7.6	)	(2.0	)
U.S. Tax on Foreign Income	2.4		2.1		(2.6	)
Withholding Taxes	3.5		2.3		(1.1	)
Other items, net	—		(1.4	)	3.4
Effective tax rate	19.0	%	(18.6	)%	(42.5	)%

Components Of Deferred Tax Assets and Liabilities

The deferred tax assets (liabilities) were as follows:

	As of
(in millions)	March 31, 2019			March 31, 2018
Deferred tax assets
Employee benefits	$	79		$	156
Tax loss/credit carryforwards	1,917			1,665
Accrued interest	16			18
Contract accounting	130			134
Other assets	139			232
Total deferred tax assets	2,281			2,205
Valuation allowance	(1,575		)	(1,440		)
Net deferred tax assets	706			765
Deferred tax liabilities
Depreciation and amortization	(994		)	(888		)
Investment basis differences	(61		)	(62		)
Other liabilities	(63		)	(94		)
Total deferred tax liabilities	(1,118		)	(1,044		)
Total net deferred tax assets (liabilities)	$	(412	)	$	(279	)

Schedule of Deferred Tax Assets and Liabilities

Income tax related assets are included in the accompanying balance sheets as follows:

	As of
(in millions)	March 31, 2019		March 31, 2018
Current:
Income tax receivables and prepaid taxes	$	113	$	154
	$	113	$	154
Non-current:
Income taxes receivable and prepaid taxes	$	137	$	30
Deferred tax assets	355		373
	$	492	$	403
Total	$	605	$	557

Income tax related liabilities are included in the accompanying balance sheet as follows:

	As of
(in millions)	March 31, 2019			March 31, 2018
Current:
Liability for uncertain tax positions	$	—		$	(15	)
Income taxes payable	(208		)	(112		)
	$	(208	)	$	(127	)
Non-current:
Deferred taxes	(767		)	(652		)
Income taxes payable	(201		)	(278		)
Liability for uncertain tax positions	(216		)	(236		)
	$	(1,184	)	$	(1,166	)
Total	$	(1,392	)	$	(1,293	)

Summary of Operating Loss Carryforwards

The following table provides information on the Company's various tax carryforwards:

	As of March 31, 2019							As of March 31, 2018
(in millions)	Total		With No Expiration		With Expiration		Expiration Dates Through	Total		With No Expiration		With Expiration		Expiration Dates Through
Net operating loss carryforwards
Federal	$	25	$	—	$	25	2037	$	41	$	—	$	41	2037
State	$	845	$	9	$	836	2039	$	873	$	—	$	873	2038
Foreign	$	7,595	$	7,292	$	303	2039	$	6,522	$	6,287	$	235	2038
Tax credit carryforwards
Federal	$	—	$	—	$	—	N/A	$	—	$	—	$	—	N/A
State	$	23	$	7	$	16	2039	$	28	$	7	$	21	2038
Foreign	$	18	$	—	$	18	2020	$	21	$	—	$	21	2020
Capital loss carryforwards
Federal	$	—	$	—	$	—	N/A	$	—	$	—	$	—	N/A
State	$	—	$	—	$	—	N/A	$	—	$	—	$	—	N/A
Foreign	$	236	$	211	$	25	2023	$	240	$	193	$	47	2023

Summary of Tax Credit Carryforwards

The following table provides information on the Company's various tax carryforwards:

	As of March 31, 2019							As of March 31, 2018
(in millions)	Total		With No Expiration		With Expiration		Expiration Dates Through	Total		With No Expiration		With Expiration		Expiration Dates Through
Net operating loss carryforwards
Federal	$	25	$	—	$	25	2037	$	41	$	—	$	41	2037
State	$	845	$	9	$	836	2039	$	873	$	—	$	873	2038
Foreign	$	7,595	$	7,292	$	303	2039	$	6,522	$	6,287	$	235	2038
Tax credit carryforwards
Federal	$	—	$	—	$	—	N/A	$	—	$	—	$	—	N/A
State	$	23	$	7	$	16	2039	$	28	$	7	$	21	2038
Foreign	$	18	$	—	$	18	2020	$	21	$	—	$	21	2020
Capital loss carryforwards
Federal	$	—	$	—	$	—	N/A	$	—	$	—	$	—	N/A
State	$	—	$	—	$	—	N/A	$	—	$	—	$	—	N/A
Foreign	$	236	$	211	$	25	2023	$	240	$	193	$	47	2023

Liabilities For Uncertain Tax Positions

In accordance with ASC 740, the Company’s liability for uncertain tax positions was as follows:

	Fiscal Years Ended
(in millions)	March 31, 2019			March 31, 2018
Tax	$	165		$	219
Interest	41			40
Penalties	25			25
Net of tax attributes	(15		)	(33		)
Total	$	216		$	251

Summary of Income Tax Contingencies

The following table summarizes the activity related to the Company’s uncertain tax positions (excluding interest and penalties and related tax attributes):

	Fiscal Years Ended
(in millions)	March 31, 2019			March 31, 2018			March 31, 2017
Balance at beginning of fiscal year	$	219		$	192		$	180
Gross increases related to prior year tax positions	4			10			14
Gross decreases related to prior year tax positions	(27		)	(12		)	(12		)
Gross increases related to current year tax positions	—			7			10
Settlements and statute of limitation expirations	(23		)	(19		)	(7		)
Acquisitions	—			39			6
Foreign exchange and others	(8		)	2			1
Balance at end of fiscal year	$	165		$	219		$	192

Schedule Of Change Of Interest And Penalties

The following table presents the change in interest and penalties from the previous reported period, as well as the liability at the end of each period presented:

	As of and for the Fiscal Years Ended
	March 31, 2019			March 31, 2018		March 31, 2017
(in millions)	Increase (Decrease)
Interest	$	2		$	2	$	(8	)
Interest, net of tax	$	1		$	2	$	(9	)
Accrued penalties	$	(1	)	$	—	$	—
Liability for interest	$	41		$	40	$	25
Liability for interest, net of tax	$	36		$	36	$	20
Liability for penalties	$	25		$	25	$	11

Tax Examination Status

A summary of the tax years that remain subject to examination in certain of the Company’s major tax jurisdictions are:

Jurisdiction:	Tax Years that Remain Subject to Examination (Fiscal Year Ending):
United States – Federal	2008 and forward
United States – Various States	2008 and forward
Australia	2012 and forward
Canada	2010 and forward
France	2013 and forward
Germany	2010 and forward
India	1998 and forward
United Kingdom	2013 and forward