Derivatives, Hedging Activities and Interest Expense (Tables)

12 Months Ended

Mar. 31, 2024

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:

	March 31, 2024					March 31, 2023
			Fair					Fair
	Notional		value			Notional		value
Other assets:
Interest rate swaps	$	71,830	$	1,149		$	56,799	$	1,888
Foreign currency swaps		1,759		89			1,237		49
Total	$	73,589	$	1,238		$	58,036	$	1,937
Counterparty netting				(346	)				(659	)
Collateral held				(851	)				(1,227	)
Carrying value of derivative contracts – Other assets			$	41				$	51
Other liabilities:
Interest rate swaps	$	38,920	$	52		$	46,082	$	468
Foreign currency swaps		7,433		918			6,447		1,002
Total	$	46,353	$	970		$	52,529	$	1,470
Counterparty netting				(346	)				(659	)
Collateral posted				(601	)				(794	)
Carrying value of derivative contracts – Other liabilities			$	23				$	17

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:

	Years Ended March 31,
	2024			2023			2022
Interest expense on debt	$	4,936		$	2,919		$	1,498
Interest (income) expense on derivatives		(661	)		(569	)		107
Interest expense on debt and derivatives		4,275			2,350			1,605
Gains on debt denominated in  foreign currencies		(80	)		(614	)		(438	)
(Gains) losses on foreign currency swaps		(90	)		805			818
Losses (gains) on U.S. dollar interest rate swaps		600			513			(584	)
Total interest expense	$	4,705		$	3,054		$	1,401