Derivative and Hedging Activities (Tables)

9 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivatives Not Designated For Hedge Accounting

The following table presents the pretax amounts impacting income related to designated and non-designated foreign currency forward contracts:

		For the Three Months Ended				For the Nine Months Ended
(in millions)	Statement of Operations Line Item	December 31, 2020		December 31, 2019		December 31, 2020		December 31, 2019
Foreign currency forward contracts	Other expense (income), net	$	16	$	1	$	74	$	(21)

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following tables present the fair values of derivative instruments included in the balance sheets:

	Derivative Assets
		As of
(in millions)	Balance Sheet Line Item	December 31, 2020		March 31, 2020
Derivatives designated for hedge accounting:
Foreign currency forward contracts	Other current assets	$	9	$	—
Total fair value of derivatives designated for hedge accounting		$	9	$	—
Derivatives not designated for hedge accounting:
Foreign currency forward contracts	Other current assets	$	6	$	16
Total fair value of derivatives not designated for hedge accounting		$	6	$	16

	Derivative Liabilities
		As of
(in millions)	Balance Sheet Line Item	December 31, 2020		March 31, 2020
Derivatives designated for hedge accounting:
Foreign currency forward contracts	Accrued expenses and other current liabilities	$	5	$	20
Total fair value of derivatives designated for hedge accounting:		$	5	$	20
Derivatives not designated for hedge accounting:
Foreign currency forward contracts	Accrued expenses and other current liabilities	$	17	$	12
Total fair value of derivatives not designated for hedge accounting		$	17	$	12