Debt (Tables)

3 Months Ended

Jun. 30, 2020

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, 2020		March 31, 2020
Short-term debt and current maturities of long-term debt
Commercial paper(1)	(0.22)% - 0.44%	2021 - 2022	$	967	$	542
Current maturities of long-term debt	Various	2021 - 2022	283		290
Current maturities of finance lease liabilities	0.62% - 18.47%	2021	432		444
Short-term debt and current maturities of long-term debt			$	1,682	$	1,276
Long-term debt, net of current maturities
AUD term loan	0.94% - 0.96%(2)	2022	344		489
GBP term loan	1.46%(3)	2022	369		556
EUR term loan	0.65%(4)	2022 - 2023	280		822
EUR term loan	0.80%(5)	2023 - 2024	839		821
USD term loan	1.42% - 2.24%(6)	2025	379		480
$274 million Senior notes	4.45%	2023	276		276
$171 million Senior notes	4.45%	2023	172		172
$500 million Senior notes	4.25%	2025	505		505
$500 million Senior notes	4.00%	2024	497		—
$500 million Senior notes	4.13%	2026	496		—
£250 million Senior notes	2.75%	2025	306		307
€650 million Senior notes	1.75%	2026	726		709
$500 million Senior notes	4.75%	2028	507		507
$234 million Senior notes	7.45%	2030	271		271
Revolving credit facility	1.27% - 2.08%	2024 - 2025	3,250		1,500
Lease credit facility	1.17% - 1.99%	2021 - 2023	8		11
Finance lease liabilities	0.62% - 18.47%	2021 - 2027	1,015		1,046
Borrowings for assets acquired under long-term financing	0.48% - 6.39%	2021 - 2028	740		802
Mandatorily redeemable preferred stock outstanding	6.00%	2023	62		62
Other borrowings	Various	2021 - 2022	7		70
Long-term debt			11,049		9,406
Less: current maturities			715		734
Long-term debt, net of current maturities			$	10,334	$	8,672

        

⁽¹⁾  At DXC's option, DXC can borrow up to a maximum of €1 billion or its equivalent in €, £, and $. Under this existing €1.0 billion commercial paper program, the Company issued £600 million via direct sale to the Bank of England.

⁽²⁾ 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.

⁽³⁾ Three-month LIBOR rate plus 0.80%.

⁽⁴⁾ 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.

⁽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 0.55% and 1.05%, based on published credit ratings of DXC.

⁽⁶⁾ 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.