Debt (Tables)

3 Months Ended

Jun. 30, 2019

Debt Disclosure [Abstract]

Schedule of Debt

The following is a summary of the Company's debt:

(in millions)	Interest Rates	Fiscal Year Maturities	June 30, 2019		March 31, 2019
Short-term debt and current maturities of long-term debt
Euro-denominated commercial paper(1)	(0.10)% - 2.76%(2)	2020	$	704	$	694
Current maturities of long-term debt	Various	2020 - 2021	329		766
Current maturities of finance lease liabilities	1.10% - 11.70%	2020 - 2021	478		482
Short-term debt and current maturities of long-term debt			$	1,511	$	1,942
Long-term debt, net of current maturities
AUD term loan	2.29% - 2.66%(3)	2021	561		567
GBP term loan	1.60% - 1.63%(4)	2022	571		583
EUR term loan	0.65%(5)	2022	852		—
EUR term loan	0.80%(6)	2023	852		—
USD term loan	3.67%(7)	2025	498		—
$500 million Senior notes	2.88%	2020	—		502
$500 million Senior notes	3.47% - 3.69%(8)	2021	498		498
$274 million Senior notes	4.45%	2023	277		277
$171 million Senior notes	4.45%	2023	172		172
$500 million Senior notes	4.25%	2025	506		506
£250 million Senior notes	2.75%	2025	315		322
€650 million Senior notes	1.75%	2026	735		725
$500 million Senior notes	4.75%	2028	508		508
$234 million Senior notes	7.45%	2030	273		273
Lease credit facility	3.44% - 3.50%	2020 - 2023	21		25
Finance lease liabilities	1.10% - 11.70%	2020 - 2025	1,216		1,127
Borrowings for assets acquired under long-term financing	1.76% - 4.50%	2020 - 2025	707		462
Mandatorily redeemable preferred stock outstanding	6.00%	2023	62		62
Other borrowings	0.50% - 7.40%	2020 - 2022	76		109
Long-term debt			8,700		6,718
Less: current maturities			807		1,248
Long-term debt, net of current maturities			$	7,893	$	5,470

        

⁽¹⁾  At DXC's option, DXC can borrow up to a maximum of €1 billion or its equivalent in U.S. dollars.

⁽²⁾  Approximate weighted average interest rate.

⁽³⁾ Variable interest rate equal to the bank bill swap bid rate for a one-, two-, three- or six-month interest period plus 0.60% to 0.95% based on the published credit ratings of DXC.

⁽⁴⁾ Three-month LIBOR rate plus 0.80%.

⁽⁵⁾ At DXC's option, the EUR term loan bears interest at the Eurocurrency Rate for a one-, two-, three-, or six-month interest period, plus a margin between 0.40% and 0.9%, based on published credit ratings of DXC.

⁽⁶⁾ At DXC's option, the EUR term loan bears interest at the Eurocurrency Rate for a one-, two-, three-, or six-month interest period, plus a margin between 0.55% and 1.05%, based on published credit ratings of DXC.

⁽⁷⁾ At DXC's option, the USD term loan bears interest at the Eurocurrency Rate for a one-, two-, three-, or six-month interest period, plus a margin between 1.00% and 1.50%, based on published credit ratings of DXC or the Base Rate plus a margin between 0.00% and 0.50%, based on published credit ratings of DXC.

⁽⁸⁾ Three-month LIBOR plus 0.95%.