Derivatives, Hedging Activities and Interest Expense (Tables)

6 Months Ended

Sep. 30, 2022

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Activity Impact on Consolidated Balance Sheet

The following tables show the financial statement line item and amount of our derivative assets and liabilities that are reported on our Consolidated Balance Sheets:

	September 30, 2022					March 31, 2022
			Fair					Fair
	Notional		value			Notional		value
Other assets:
Interest rate swaps	$	62,895	$	2,174		$	64,327	$	1,425
Foreign currency swaps		129		20			1,594		55
Total	$	63,024	$	2,194		$	65,921	$	1,480
Counterparty netting				(1,162	)				(761	)
Collateral held				(957	)				(658	)
Carrying value of derivative contracts – Other assets			$	75				$	61
Other liabilities:
Interest rate swaps	$	32,692	$	1,452		$	19,903	$	822
Foreign currency swaps		7,629		1,819			8,102		717
Total	$	40,321	$	3,271		$	28,005	$	1,539
Counterparty netting				(1,162	)				(761	)
Collateral posted				(2,064	)				(753	)
Carrying value of derivative contracts – Other liabilities			$	45				$	25

Components of Interest Expense

The following table summarizes the components of interest expense, including the location and amount of gains and losses on derivative instruments and related hedged items, as reported in our Consolidated Statements of Income:

	Three months ended						Six months ended
	September 30,						September 30,
	2022			2021			2022			2021
Interest expense on debt	$	623		$	382		$	1,069		$	771
Interest (income) expense on derivatives		(120	)		48			(182	)		114
Interest expense on debt and derivatives		503			430			887			885
Gains on debt denominated in  foreign currencies		(590	)		(287	)		(1,181	)		(277	)
Losses on foreign currency swaps		743			333			1,456			358
Losses (gains) on U.S. dollar interest rate swaps		49			(53	)		106			(257	)
Total interest expense	$	705		$	423		$	1,268		$	709