Fair Value (Tables)

12 Months Ended

Mar. 31, 2026

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents the Company’s fair value hierarchy for assets and liabilities measured and recognized at fair value, excluding investments where the NAV practical expedient has been elected, on a recurring basis:

	As of March 31, 2026								As of March 31, 2025
(in millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Financial assets
Money market funds	$	2,456	$	—	$	—	$	2,456	$	1,914	$	—	$	—	$	1,914
Short-term investments (1)	850		—		—		850		740		—		—		740
Equity investments (2)	96		—		57		153		98		—		200		298
Available-for-sale debt securities	—		—		13		13		—		—		—		—
Convertible loans receivable	—		—		—		—		—		—		34		34
Foreign currency forward contracts	—		—		—		—		—		7		—		7
Total financial assets	$	3,402	$	—	$	70	$	3,472	$	2,752	$	7	$	234	$	2,993
Financial liabilities
Foreign currency forward contracts	$	—	$	10	$	—	$	10	$	—	$	2	$	—	$	2
Total financial liabilities	$	—	$	10	$	—	$	10	$	—	$	2	$	—	$	2

(1)Short-term investments represent term deposits with banks with a maturity between 3 and 12 months.

(2)In accordance with ASC Subtopic 820-10, Fair Value Measurements, investments that are measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy.

Schedule of Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following tables summarize changes in the fair value, along with other activity associated with the Company’s Level 3 financial assets and liabilities. See below for a description of the valuation techniques and inputs used in the fair value measurement of Level 3 investments including equity method investments, convertible loans receivable, and currency exchange contracts.

Equity Method Investments

	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Fair value of financial assets at the beginning of the period	$	200	$	466	$	482
Fair value losses recognized in the Consolidated Income Statements	—		(266)		(16)
Sale of equity investments	(143)		—		—
Fair value at the end of the period	$	57	$	200	$	466

Convertible Loans Receivable

	Fiscal Year Ended March 31,
(in millions)	2026		2025		2024
Fair value of financial assets at the beginning of the period	$	34	$	32	$	31
Settlement of convertible note receivable	(39)		—		—
Fair value gains recognized in the Consolidated Income Statements	5		2		1
Fair value at the end of the period	$	—	$	34	$	32

Schedule of Fair Value Measurement Inputs and Valuation Techniques

The following tables provide quantitative information related to certain key assumptions utilized in the valuation of equity method investments accounted for under the fair value option:

As of March 31, 2026
(in millions)	Fair Value	Valuation Technique	Unobservable Inputs	Range of Estimates
Equity Method Investments	$57	Acetone Limited – Market-Calibration or discounted cash flow	LTM Revenue Multiple	0.9x - 1.1x
As of March 31, 2025
(in millions)	Fair Value	Valuation Technique	Unobservable Inputs	Range of Estimates
Equity Method Investments	$200	Acetone Limited – Market-Calibration or discounted cash flow	LTM Revenue Multiple	1.1x - 1.3x
		Ampere – PWER	Probability of exit event	100%
			Time to future exit scenario	0.8 years