Derivatives, Hedging Activities and Interest Expense (Tables)

12 Months Ended

Mar. 31, 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:

	March 31, 2022					March 31, 2021
			Fair					Fair
	Notional		value			Notional		value
Other assets:
Interest rate swaps	$	64,327	$	1,425		$	44,125	$	1,026
Foreign currency swaps		1,594		55			7,274		330
Total	$	65,921	$	1,480		$	51,399	$	1,356
Counterparty netting				(761	)				(840	)
Collateral held				(658	)				(462	)
Carrying value of derivative contracts – Other assets			$	61				$	54
Other liabilities:
Interest rate swaps	$	19,903	$	822		$	55,062	$	1,142
Foreign currency swaps		8,102		717			4,321		243
Total	$	28,005	$	1,539		$	59,383	$	1,385
Counterparty netting				(761	)				(840	)
Collateral posted				(753	)				(544	)
Carrying value of derivative contracts – Other liabilities			$	25				$	1

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,
	2022			2021			2020
Interest expense on debt	$	1,498		$	1,954		$	2,488
Interest expense on derivatives		107			420			180
Interest expense on debt and derivatives		1,605			2,374			2,668
(Gains) losses on debt denominated in foreign currencies		(438	)		1,402			(703	)
Losses (gains) on foreign currency swaps		818			(1,351	)		650
(Gains) losses on U.S. dollar interest rate swaps		(584	)		(123	)		219
Total interest expense	$	1,401		$	2,302		$	2,834