Leases (Tables)

12 Months Ended

Mar. 31, 2026

Lease expense components are as follows:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Operating lease cost	$	59	$	39	$	34

Finance lease cost:
Amortization of right-of-use assets	$	27	$	13	$	5
Interest on lease liabilities	3		1		—
Total finance lease cost	$	30	$	14	$	5

Schedule of Cash Flow, Supplemental Disclosures

Supplemental disclosures of cash flow information related to leases are as follows:


	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used for operating leases	$	(44)	$	(37)	$	(35)
Operating cash flows used for finance leases	$	3	$	1	$	—
Financing cash flows used for finance leases	$	(26)	$	(23)	$	(10)

Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	98	$	146	$	28
Finance leases	$	56	$	33	$	21

Cash paid for income taxes (net of refunds received) by jurisdiction pursuant to the disclosure requirements of ASU 2023-09 for the fiscal year ended March 31, 2026 is as follows:


	Fiscal Year Ended March 31,
(in millions)	2026
United Kingdom	$	—
Foreign
China	81
Taiwan	51
South Korea	30
United States	17
Singapore	18
India	12
Other	14
Total cash paid for income taxes	$	223

Schedule Of Balance Sheet Supplemental Disclosures

Supplemental balance sheet information related to leases are as follows:


	As of
(in millions, except lease term and discount rate)	March 31, 2026			March 31, 2025
Operating leases
Operating lease right-of-use assets	$	379		$	320

Operating lease liabilities	$	39		$	30
Non-current portion of operating lease liabilities	$	393		$	316
Total operating lease liabilities	$	432		$	346

Finance leases
Finance lease right-of-use assets, net	$	69		$	40

Other current liabilities	$	25		$	10
Other non-current liabilities	$	34		$	15
Total finance lease liabilities	$	59		$	25

Weighted Average Remaining Lease Term (in years)
Operating leases	12.05			13.76
Finance leases	2.84			3.39

Weighted Average Discount Rate
Operating leases	4.32		%	4.23		%
Finance leases	5.07		%	5.43		%

Schedule of Operating Lease Liability Maturity

Maturity of lease liabilities as of March 31, 2026 is as follows (in millions):


Fiscal Year	Operating Leases		Finance Leases
2027	$	50	$	26
2028	56		21
2029	57		15
2030	52		—
2031	48		—
Thereafter	286		—
Total lease payments	549		62
Less imputed interest	(117)		(3)
Total	$	432	$	59
Less: current portion of lease liabilities	(39)		(25)
Non-current portion of lease liabilities	$	393	$	34

Schedule of Operating Lease Liability Maturity

Maturity of lease liabilities as of March 31, 2026 is as follows (in millions):


Fiscal Year	Operating Leases		Finance Leases
2027	$	50	$	26
2028	56		21
2029	57		15
2030	52		—
2031	48		—
Thereafter	286		—
Total lease payments	549		62
Less imputed interest	(117)		(3)
Total	$	432	$	59
Less: current portion of lease liabilities	(39)		(25)
Non-current portion of lease liabilities	$	393	$	34