Goodwill

9 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill

The following table summarizes the changes in the carrying amount of goodwill, by segment, as of December 31, 2021.

(in millions)	GBS		GIS		Total
Goodwill, gross	$	5,131	$	5,066	$	10,197
Accumulated impairment losses	(4,490)		(5,066)		(9,556)
Balance as of March 31, 2021, net	$	641	$	—	$	641
Foreign currency translation	(12)		—		(12)
Goodwill, gross	5,119		5,066		10,185
Accumulated impairment losses	(4,490)		(5,066)		(9,556)
Balance as of December 31, 2021, net	$	629	$	—	$	629

The foreign currency translation amount reflects the impact of currency movements on non-U.S. dollar-denominated goodwill balances.

Goodwill Impairment Analyses

The Company tests goodwill for impairment on an annual basis, as of the first day of the second fiscal quarter, and between annual tests if circumstances change, or if an event occurs that would more likely than not reduce the fair value of a reporting unit below its carrying amount.

The Company concluded that, as a result of its qualitative assessment performed on July 1, 2021, it remained more likely than not that the fair value of the GBS reporting unit exceeds its carrying amount.

As of December 31, 2021, the Company assessed whether there were events or changes in circumstances that would more likely than not reduce the fair value of any of its reporting units below its carrying amount and require goodwill to be tested for impairment. The Company determined that there have been no such indicators and therefore, it was unnecessary to perform an interim goodwill impairment test as of December 31, 2021.