Other Financial Statements Details (Notes)

3 Months Ended

Jun. 30, 2018

Accounts Receivable, Net [Abstract]

Other Financial Statements Details

Other Financial Statement Details

Accounts Receivable

Accounts receivable consists of the following (in millions):

	June 30, 2018		March 31, 2018
Trade accounts receivable	$	782.6	$	557.8
Other	8.9		8.1
Total accounts receivable, gross	791.5		565.9
Less allowance for doubtful accounts	2.1		2.2
Total accounts receivable, net	$	789.4	$	563.7

Inventories

The components of inventories consist of the following (in millions):

	June 30, 2018		March 31, 2018
Raw materials	$	74.1	$	26.0
Work in process	685.2		311.8
Finished goods	345.5		138.4
Total inventories	$	1,104.8	$	476.2

Inventories are valued at the lower of cost and net realizable value using the first-in, first-out method. Inventory impairment charges establish a new cost basis for inventory and charges are not subsequently reversed to income even if circumstances later suggest that increased carrying amounts are recoverable. The inventory balance at June 30, 2018 includes a $309.7 million acquired inventory fair value adjustment resulting from the acquisition of Microsemi.

Property, Plant and Equipment

Property, plant and equipment consists of the following (in millions):

	June 30, 2018		March 31, 2018
Land	$	84.7	$	73.4
Building and building improvements	616.1		508.5
Machinery and equipment	2,146.3		1,943.9
Projects in process	144.0		118.3
Total property, plant and equipment, gross	2,991.1		2,644.1
Less accumulated depreciation and amortization	1,912.7		1,876.2
Total property, plant and equipment, net	$	1,078.4	$	767.9

Depreciation expense attributed to property, plant and equipment was $38.0 million and $29.0 million for the three months ended June 30, 2018 and 2017, respectively.