Revenue

12 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

Revenue Recognition

The following table presents DXC's revenues disaggregated by geography, based on the location of incorporation of the DXC entity providing the related goods or services:



	Twelve Months Ended
(in millions)	March 31, 2020		March 31, 2019		March 31, 2018 ⁽¹⁾
United States	$	7,225	$	7,677	$	8,015
United Kingdom	2,776		3,175		3,392
Australia	1,487		1,582		1,694
Other Europe	5,121		5,294		5,409
Other International	2,968		3,025		3,223
Total Revenues	$	19,577	$	20,753	$	21,733


⁽¹⁾	Prior period amounts have not been recast under the modified retrospective transition method.

The revenue by geography pertains to both of the Company’s reportable segments. Refer to Note 19 - "Segment and Geographic Information" for the Company’s segment disclosures.

Remaining Performance Obligations

Remaining performance obligations represent the aggregate amount of the transaction price in contracts allocated to performance obligations not delivered, or partially undelivered, as of the end of the reporting period. Remaining performance obligation estimates are subject to change and are affected by several factors, including terminations, changes in the scope of contracts, periodic revalidations, adjustments for revenue that has not materialized and adjustments for currency. As of March 31, 2020, approximately $24.0 billion of revenue is expected to be recognized from remaining performance obligations. The Company expects to recognize revenue on approximately 42% of these remaining performance obligations in Fiscal 2021, with the remainder of the balance recognized thereafter.

Contract Balances

The following table provides information about the balances of the Company's trade receivables and contract assets and contract liabilities:



	As of
(in millions)	March 31, 2020		March 31, 2019
Trade receivables, net	$	3,059	$	3,232
Contract assets	$	454	$	390
Contract liabilities	$	1,756	$	1,886

Change in contract liabilities were as follows:



(in millions)	Twelve Months Ended March 31, 2020			Twelve Months Ended March 31, 2019
ASC 605 Balance, beginning of period	$	—		$	2,434
Adjustment related to Topic 606 adoption	—			(381		)
ASC 606 Balance, beginning of period	1,886			2,053
Deferred revenue	2,910			2,681
Recognition of deferred revenue	(2,925		)	(2,664		)
Currency translation adjustment	(48		)	(167		)
Other	(67		)	(17		)
Balance, end of period	$	1,756		$	1,886

The following tables provides information about the Company’s capitalized costs to obtain and fulfill a contract:



	As of
(in millions)	March 31, 2020		March 31, 2019
Capitalized sales commission cost ⁽¹⁾	$	262	$	228
Transition and transformation contract costs, net ⁽²⁾	$	874	$	966


⁽¹⁾	Capitalized sales commission costs are included within other assets in the accompanying balance sheets. Amortization expense of $72 million and $62 million for the twelve months ended March 31, 2020 and March 31, 2019, respectively, related to the capitalized sales commission assets are included in selling, general, and administrative expenses in the accompanying statements of operations.

⁽²⁾

Transition and transformation contract costs, net reflect the Company’s setup costs incurred upon initiation of an outsourcing contract that are classified as other assets in the accompanying balance sheets. Amortization expense of $280 million and $258 million for the twelve months ended March 31, 2020 and March 31, 2019, respectively, are included within depreciation and amortization in the accompanying statements of operations.