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CONSOLIDATED COMBINED STATEMENTS OF CASH FLOWS
$ in Millions
5 Months Ended 12 Months Ended
Mar. 31, 2017
USD ($)
Mar. 31, 2019
USD ($)
Mar. 31, 2018
USD ($)
Oct. 31, 2016
USD ($)
Cash flows from operating activities:        
Net income $ 36 $ 72 $ 208 $ 80
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 73 330 167 225
Net periodic benefit cost 0 26 0 0
Stock-based compensation 7 11 6 20
Deferred income taxes 38 8 (28) (14)
Gain on sale of assets 0 (25) 0 0
Restructuring costs 0 10 14 20
Other non-cash charges, net (1) 1 0 (3)
Changes in assets and liabilities, net of effects of acquisitions:        
Receivables, net 32 102 49 179
Prepaid expenses and other current assets 40 (25) 20 79
Accounts payable, accrued expenses and other current liabilities (125) (18) 113 0
Deferred revenue and advanced contract payments (43) (11) (11) (70)
Income taxes payable 0 (22) 0 0
Accrued restructuring (5) (4) (8) (21)
Other assets and liabilities, net 0 7 0 0
Net cash provided by operating activities 52 462 530 495
Cash flows from investing activities:        
Payments for acquisitions, net of cash acquired 0 (312) 0 0
Extinguishment of Vencore debt and related costs 0 (994) 0 0
Proceeds from sale of assets 0 25 0 0
Purchases of property, equipment and software (2) (26) (18) (14)
Payments for outsourcing contract costs (8) (11) (16) (7)
Net cash used in investing activities (10) (1,318) (34) (21)
Cash flows from financing activities:        
Principal payments on long-term debt 0 (170) 0 0
Proceeds from debt issuance 0 2,500 0 0
Payment of debt issuance costs 0 (46) 0 0
Proceeds from revolving credit facility 0 50 0 0
Payments on revolving credit facility 0 (50) 0 0
Payments on capital lease obligations (65) (172) (157) (160)
Repurchases of common stock 0 (59) 0 0
Repurchases of common stock to satisfy tax withholding obligations 0 (1) 0 0
Dividend to DXC 0 (984) 0 0
Dividends paid to Perspecta stockholders 0 (25) 0 0
Transfers (to) from Parent, net 23 (88) (339) (314)
Net cash provided by (used in) financing activities (42) 955 (496) (474)
Net increase in cash and cash equivalents, including restricted 0 99 0 0
Cash and cash equivalents, including restricted, at beginning of year 0 0 0 0
Cash and cash equivalents, including restricted, at end of year 0 99 0 0
Less restricted cash and cash equivalents included in other current assets 0 11 0 0
Cash and cash equivalents at end of year 0 88 0 0
Supplemental cash flow disclosures:        
Interest paid 10 115 11 31
Income taxes paid (refunded), net (15) 61 19 63
Supplemental schedule of non-cash investing and financing activities:        
Equipment acquired through capital leases 10 180 156 170
Dividends declared but not yet paid 0 8 0 0
Stock issued for the acquisition of Vencore $ 0 $ 578 $ 0 $ 0