Derivatives, Hedging Activities and Interest Expense (Tables)

9 Months Ended

Dec. 31, 2015

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 in the Consolidated Balance Sheet:

	As of December 31, 2015
	Hedge accounting				Non-hedge
	derivatives				accountingderivatives				Total
			Fair				Fair				Fair
	Notional		value		Notional		value		Notional		value
Other assets
Interest rate swaps	$	-	$	-	$	44,447	$	423	$	44,447	$	423
Foreign currency swaps		271		20		630		143		901		163
Total	$	271	$	20	$	45,077	$	566	$	45,348	$	586
Counterparty netting and collateral held												(533	)
Carrying value of derivative    contracts – Other assets											$	53
Other liabilities
Interest rate swaps	$	-	$	-	$	50,970	$	235	$	50,970	$	235
Interest rate caps		-		-		30		-		30		-
Foreign currency swaps		251		59		14,676		1,812		14,927		1,871
Total	$	251	$	59	$	65,676	$	2,047	$	65,927	$	2,106
Counterparty netting and collateral posted												(2,031	)
Carrying value of derivative    contracts – Other liabilities											$	75

Note 7 – Derivatives, Hedging Activities and Interest Expense (Continued)

	As of March 31, 2015
	Hedge accounting				Non-hedge
	derivatives				accountingderivatives				Total
			Fair				Fair				Fair
	Notional		value		Notional		value		Notional		value
Other assets
Interest rate swaps	$	190	$	4	$	26,549	$	467	$	26,739	$	471
Foreign currency swaps		271		24		913		193		1,184		217
Total	$	461	$	28	$	27,462	$	660	$	27,923	$	688
Counterparty netting and collateral held												(635	)
Carrying value of derivative    contracts – Other assets											$	53
Other liabilities
Interest rate swaps	$	-	$	-	$	64,852	$	386	$	64,852	$	386
Interest rate caps		-		-		50		-		50		-
Foreign currency swaps		251		43		12,971		1,845		13,222		1,888
Total	$	251	$	43	$	77,873	$	2,231	$	78,124	$	2,274
Counterparty netting and collateral posted												(2,184	)
Carrying value of derivative    contracts – Other liabilities											$	90

Derivative Activity Impact on Consolidated Statement of Income

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 Statement of Income:

	Three Months Ended						Nine Months Ended
	December 31,						December 31,
	2015			2014			2015			2014
Interest expense on debt	$	334		$	304		$	964		$	923
Interest income on hedge accounting derivatives		(4	)		(10	)		(12	)		(35	)
Interest income on non-hedge accounting foreign currency    swaps		(23	)		(37	)		(78	)		(129	)
Interest expense on non-hedge accounting interest rate swaps		28			30			86			94
Interest expense on debt and derivatives,  net		335			287			960			853
Loss on hedge accounting derivatives:
Interest rate swaps		-			5			-			15
Foreign currency swaps		6			50			23			113
Loss on hedge accounting derivatives		6			55			23			128
Less hedged item:  change in fair value of fixed rate debt		(7	)		(56	)		(25	)		(129	)
Ineffectiveness related to hedge accounting derivatives		(1	)		(1	)		(2	)		(1	)
(Gain) loss from foreign currency transactions    and non-hedge accounting derivatives:
(Gain) loss on non-hedge accounting foreign currency    transactions		(222	)		(567	)		(68	)		(1,354	)
Loss (gain) on non-hedge accounting foreign currency swaps		263			542			170			1,253
(Gain) loss on non-hedge accounting interest rate    swaps		(98	)		(100	)		(72	)		(245	)
Total interest expense	$	277		$	161		$	988		$	506