Derivative Instruments (Tables)

3 Months Ended

Jun. 30, 2023

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivatives Not Designated For Hedge Accounting

The following table presents the pretax foreign currency (gain) loss to Other income, net:

	For the Three Months Ended
(in millions)	June 30, 2023		June 30, 2022
Foreign currency remeasurement(1)	$	(4)	$	36
Undesignated foreign currency forward contracts(2)	(4)		(38)
Total - Foreign currency gain	$	(8)	$	(2)

(1) Movements from exchange rates on the Company’s foreign currency-denominated assets and liabilities.

(2) Movements from hedges used to manage the Company’s foreign currency remeasurement exposure, and the associated costs of the hedging program.

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:

		As of
(in millions)	Balance Sheet Line Item	June 30, 2023		March 31, 2023
Derivatives designated for hedge accounting:
Foreign currency forward contracts	Other current assets	$	8	$	6
	Accrued expenses and other current liabilities	$	11	$	13
Derivatives not designated for hedge accounting:
Foreign currency forward contracts	Other current assets	$	20	$	15
	Accrued expenses and other current liabilities	$	21	$	16