Sale of Receivables

6 Months Ended

Sep. 30, 2019

Receivables [Abstract]

Sale of Receivables

Sale of Receivables

During the three and six months ended September 30, 2019, we sold $720 million and $1.41 billion, respectively, of billed and unbilled receivables under our receivables sales facility, as compared to $714 million and $1.40 billion during the three and six months ended September 30, 2018, respectively. The amount outstanding at September 30, 2019 and March 31, 2019 was $149 million and $146 million, respectively. As of September 30, 2019 and March 31, 2019, collections not remitted to the financial institutions corresponding to these receivables sales were $25 million and $11 million, respectively. These amounts represent restricted cash recorded by the Company within the other current assets caption of the balance sheets.