Leases (Tables)

6 Months Ended

Sep. 30, 2019

Leases [Abstract]

Components of Lease Expense and Supplemental Cash Flow Information Related to Leases

The components of lease expense were as follows:

(in millions)	Three Months Ended September 30, 2019			Six Months Ended September 30, 2019
Operating lease cost	$	164		$	340
Short-term lease cost	14			24
Variable lease cost	11			26
Sublease income	(10		)	(19		)
Total operating costs	$	179		$	371
Finance lease cost:
Amortization of right-of-use assets	$	140		$	249
Interest on lease liabilities	17			34
Total finance lease cost	$	157		$	283

Supplemental Balance Sheet Information Related to Leases

Supplemental Balance Sheet information related to leases was as follows:

		As of
(in millions)	Balance Sheet Line Item	September 30, 2019
Assets:
ROU operating lease assets	Operating right-of-use assets, net	$	1,482
ROU finance lease assets	Property and Equipment, net	1,291
Total		$	2,773
Liabilities:
Current
Operating lease	Current operating lease liabilities	$	489
Finance lease	Short-term debt and current maturities of long-term debt	488
Total		$	977
Non-current
Operating lease	Non-current operating lease liabilities	$	1,139
Finance lease	Long-term debt, net of current maturities	688
Total		$	1,827

The following table provides information on the weighted average remaining lease term and weighted average discount rate for operating and finance leases:

Weighted Average remaining lease term:	Years
Operating leases	4.8
Finance leases	2.9
Weighted average remaining discount rate:	Rate
Operating leases	3.3	%
Finance leases	5.4	%

Cash payments made from variable lease costs and short-term leases are not included in the measurement of operating and finance lease liabilities, and as such, are excluded from the supplemental cash flow information stated below. In addition, for the supplemental non-cash information on operating and finance leases, please refer to Note 19 - "Cash Flows."

(in millions)	Six Months Ended September 30, 2019
Cash paid for amounts included in the measurement of:
Operating cash flows from operating leases	$	340
Operating cash flows from finance leases	$	34
Financing cash flows from finance leases	$	279

Maturities of Lease Liabilities

The following maturity analysis presents expected undiscounted cash payments for operating and finance leases on an annual basis as of September 30, 2019:

Fiscal year	Operating Leases
(in millions)	Real Estate			Equipment			Finance Leases
Remainder of 2020	$	221		$	73		$	327
2021	366			88			391
2022	283			37			301
2023	213			14			169
2024	163			9			58
Thereafter	297			14			3
Total lease payments	1,543			235			1,249
Less: imputed interest	(138		)	(12		)	(73		)
Total payments	$	1,405		$	223		$	1,176

Maturities of Lease Liabilities

The following maturity analysis presents expected undiscounted cash payments for operating and finance leases on an annual basis as of September 30, 2019:

Fiscal year	Operating Leases
(in millions)	Real Estate			Equipment			Finance Leases
Remainder of 2020	$	221		$	73		$	327
2021	366			88			391
2022	283			37			301
2023	213			14			169
2024	163			9			58
Thereafter	297			14			3
Total lease payments	1,543			235			1,249
Less: imputed interest	(138		)	(12		)	(73		)
Total payments	$	1,405		$	223		$	1,176

Future Minimum Fixed Rental Under Operating Leases

Prior to fiscal 2020, required disclosure under ASC 840 for minimum fixed rentals under operating leases that have initial or remaining terms in excess of one year at March 31, 2019, was as follows:

Fiscal year	Operating Leases
(in millions)	Real Estate			Equipment
2020	$	409		$	248
2021	288			119
2022	203			27
2023	159			4
2024	124			1
Thereafter	274			—
Minimum fixed rentals	1,457			399
Less: sublease rental income	(149		)	—
Total rental payments	$	1,308		$	399

Future Minimum Lease Payments to be Made Under Finance Leases

Prior to fiscal 2020, required disclosure under ASC 840 for future minimum lease payments to be made under finance leases as of March 31, 2019, was as follows:

Fiscal year
(in millions)	Finance leases
2020	$	509
2021	310
2022	212
2023	128
2024	36
Thereafter	—
Total minimum lease payments	1,195
Less: Amount representing interest and executory costs	(68		)
Present value of net minimum lease payments	$	1,127