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CONSOLIDATED COMBINED STATEMENTS OF CASH FLOWS - USD ($)
12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Mar. 31, 2018
Cash flows from operating activities:      
Net (loss) income $ (676,000,000) $ 72,000,000 $ 208,000,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:      
Depreciation and amortization 374,000,000 330,000,000 167,000,000
Impairment charges 796,000,000 0 0
Net periodic benefit cost 62,000,000 26,000,000 0
Share-based compensation 23,000,000 11,000,000 6,000,000
Deferred income taxes (55,000,000) 8,000,000 (28,000,000)
Gain on sale or disposal of assets, net (18,000,000) (25,000,000) 0
Restructuring costs 17,000,000 10,000,000 14,000,000
Other non-cash charges, net 12,000,000 1,000,000 0
Changes in assets and liabilities, net of effects of acquisitions:      
Receivables, net 97,000,000 102,000,000 49,000,000
Prepaid expenses and other current assets 63,000,000 (25,000,000) 20,000,000
Accounts payable, accrued expenses and other current liabilities 14,000,000 (18,000,000) 113,000,000
Deferred revenue and advanced contract payments (35,000,000) (11,000,000) (11,000,000)
Income taxes payable and liability (46,000,000) (22,000,000) 0
Accrued restructuring (1,000,000) (4,000,000) (8,000,000)
Other assets and liabilities, net (1,000,000) 7,000,000 0
Net cash provided by operating activities 626,000,000 462,000,000 530,000,000
Cash flows from investing activities:      
Payments for acquisitions, net of cash acquired (265,000,000) (312,000,000) 0
Extinguishment of Vencore debt and related costs 0 (994,000,000) 0
Proceeds from sale of assets 77,000,000 25,000,000 0
Purchases of property, equipment and software (17,000,000) (26,000,000) (18,000,000)
Payments for outsourcing contract costs (5,000,000) (11,000,000) (16,000,000)
Net cash used in investing activities (210,000,000) (1,318,000,000) (34,000,000)
Cash flows from financing activities:      
Principal payments on long-term debt (93,000,000) (170,000,000) 0
Proceeds from debt issuance 0 2,500,000,000 0
Payments of debt issuance costs (4,000,000) (46,000,000) 0
Proceeds from revolving credit facility 200,000,000 50,000,000 0
Payments on revolving credit facility (150,000,000) (50,000,000) 0
Payments on finance lease obligations (141,000,000) (172,000,000) (157,000,000)
Repurchases of common stock (66,000,000) (59,000,000) 0
Repurchases of common stock to satisfy tax withholding obligations (2,000,000) (1,000,000) 0
Dividend to DXC 0 (984,000,000) 0
Dividends paid to Perspecta shareholders (38,000,000) (25,000,000) 0
Transfers to Parent, net 0 (88,000,000) (339,000,000)
Net cash (used in) provided by financing activities (294,000,000) 955,000,000 (496,000,000)
Net increase in cash and cash equivalents, including restricted 122,000,000 99,000,000 0
Cash and cash equivalents, including restricted, at beginning of year 99,000,000 0 0
Cash and cash equivalents, including restricted, at end of year 221,000,000 99,000,000 0
Less restricted cash and cash equivalents included in other current assets 74,000,000 11,000,000 0
Cash and cash equivalents at end of year 147,000,000 88,000,000 0
Supplemental cash flow disclosures:      
Interest paid, net 127,000,000 115,000,000 11,000,000
Income taxes paid (refunded), net 32,000,000 61,000,000 19,000,000
Supplemental schedule of non-cash investing and financing activities:      
Leased assets acquired through finance lease obligations 77,000,000 180,000,000 156,000,000
Leased assets acquired through operating lease obligations 100,000,000 0 0
Dividends declared but not yet paid 10,000,000 8,000,000 0
Stock issued for the acquisition of Vencore $ 0 $ 578,000,000 $ 0