Leases (Tables)

12 Months Ended

Mar. 31, 2021

Leases [Abstract]

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

The components of lease expense were as follows:

	For the Fiscal Year Ended
(in millions)	March 31, 2021		March 31, 2020
Operating lease cost	$	616	$	698
Short-term lease cost	53		49
Variable lease cost	56		46
Sublease income	(40)		(45)
Total operating costs	$	685	$	748
Finance lease cost:
Amortization of right-of-use assets	$	433	$	405
Interest on lease liabilities	45		65
Total finance lease cost	$	478	$	470

Supplemental Balance Sheet Information Related to Leases

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 18 - "Cash Flows."

	For the Fiscal Year Ended
(in millions)	March 31, 2021		March 31, 2020
Cash paid for amounts included in the measurement of:
Operating cash flows from operating leases	$	616	$	698
Operating cash flows from finance leases	$	45	$	65
Financing cash flows from finance leases	$	584	$	576

Supplemental Balance Sheet information related to leases was as follows:

		As of
(in millions)	Balance Sheet Line Item	March 31, 2021		March 31, 2020
Assets:
ROU operating lease assets	Operating right-of-use assets, net	$	1,366	$	1,428
ROU finance lease assets	Property and Equipment, net	834		$	1,220
Total		$	2,200	$	2,648
Liabilities:
Current
Operating lease	Current operating lease liabilities	$	418	$	482
Finance lease	Short-term debt and current maturities of long-term debt	398		444
Total		$	816	$	926
Non-current
Operating lease	Non-current operating lease liabilities	$	1,038	$	1,063
Finance lease	Long-term debt, net of current maturities	496		602
Total		$	1,534	$	1,665

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

	As of
	March 31, 2021		March 31, 2020
Weighted average remaining lease term:	Years
Operating leases	4.9		4.8
Finance leases	2.6		2.7
Weighted average remaining discount rate:	Rate
Operating leases	3.8	%	4.0	%
Finance leases	3.6	%	6.4	%

Maturities of Lease Liabilities

The following maturity analysis presents expected undiscounted cash payments for operating and finance leases on an annual basis as of March 31, 2021:

Fiscal year	Operating Leases
(in millions)	Real Estate		Equipment		Finance Leases
2022	$	411	$	41	$	418
2023	335		23		290
2024	260		11		152
2025	190		5		59
2026	108		2		14
Thereafter	207		1		—
Total lease payments	1,511		83		933
Less: imputed interest	135		3		39
Total payments	$	1,376	$	80	$	894

Maturities of Lease Liabilities

The following maturity analysis presents expected undiscounted cash payments for operating and finance leases on an annual basis as of March 31, 2021:

Fiscal year	Operating Leases
(in millions)	Real Estate		Equipment		Finance Leases
2022	$	411	$	41	$	418
2023	335		23		290
2024	260		11		152
2025	190		5		59
2026	108		2		14
Thereafter	207		1		—
Total lease payments	1,511		83		933
Less: imputed interest	135		3		39
Total payments	$	1,376	$	80	$	894