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Debt
 3 Months Ended
Jun. 30, 2022
Debt Disclosure [Abstract]  
Debt Debt
The following is a summary of the Company’s debt:

(in millions)Interest RatesFiscal Year Maturities
June 30, 2022(1)
March 31, 2022(1)
Short-term debt and
current maturities of long-term debt
Commercial paper(2)
(0.40)% - (0.08)%
2023$392 $362 
Current maturities of long-term debtVarious2023 - 2024245 249 
Current maturities of finance lease liabilities
0.23% - 13.84%
2023 - 2024267 289 
Short-term debt and current maturities of long-term debt$904 $900 
Long-term debt, net of current maturities
€650 million Senior notes
1.75%2026677 720 
$700 million Senior notes
1.80%
2027695 694 
€750 million Senior notes
0.45%2028779 828 
$650 million Senior notes
2.375%2029645 644 
€600 million Senior notes
0.95%2032621 661 
Finance lease liabilities
0.23% - 13.84%
2023 - 2027588 643 
Borrowings for assets acquired under long-term financing
0.00% - 6.78%
2023 - 2027313 344 
Mandatorily redeemable preferred stock outstanding6.00%202363 63 
Other borrowingsVarious2023 - 20245 6 
Long-term debt4,386 4,603 
Less: current maturities 512 538 
Long-term debt, net of current maturities$3,874 $4,065 
        

(1)The carrying amounts of the senior notes as of June 30, 2022 and March 31, 2022, include the remaining principal outstanding of $3,442 million and $3,575 million, respectively, net of total unamortized debt (discounts) and premiums, and deferred debt issuance costs of $(25) million and $(28) million respectively.
(2)At DXC’s option, DXC can borrow up to a maximum of €1 billion or its equivalent in €, £, and $.
The estimated fair value of the Company’s long-term debt, excluding finance lease liabilities, was $3.3 billion and $3.7 billion as of June 30, 2022 and March 31, 2022, respectively, compared with carrying value of $3.8 billion and $4.0 billion as of June 30, 2022 and March 31, 2022, respectively