Fair Value (Tables)

9 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis excluding pension assets and derivative assets and liabilities. See Note 9 - "Derivative and Hedging Activities" for information about the fair value of the Company's derivative assets and liabilities. There were no transfers among any of the levels during the periods presented.

	Fair Value Hierarchy
(in millions)	December 31, 2020
Assets:	Fair Value		Level 1		Level 2		Level 3
Money market funds and money market deposit accounts	$	262	$	262	$	—	$	—
U.S. treasury bills(1)	250		250		—		—
Time deposits(1)	349		349		—		—
Other debt securities(2)	62		—		59		3
Total assets	$	923	$	861	$	59	$	3
Liabilities:
Contingent consideration	$	40	$	—	$	—	$	40
Total liabilities	$	40	$	—	$	—	$	40

	March 31, 2020
Assets:	Fair Value		Level 1		Level 2		Level 3
Money market funds and money market deposit accounts	$	156	$	156	$	—	$	—
Time deposits(1)	595		595		—		—
Other debt securities(2)	51		—		48		3
Deferred purchase price receivable	103		—		—		103
Total assets	$	905	$	751	$	48	$	106
Liabilities:
Contingent consideration	$	46	$	—	$	—	$	46
Total liabilities	$	46	$	—	$	—	$	46

(1) Cost basis approximated fair value due to the short period of time to maturity.

(2) Other debt securities include available-for-sale investments with Level 2 inputs with cost bases of $59 million and $37 million, and unrealized gains of $0 million and $11 million, as of December 31, 2020 and March 31, 2020, respectively. During the quarter, previously held investments were sold and the proceeds were used to purchase new investments. The gain of $17 million from the sale was included in other income, net.