Held for Sale (Tables)

3 Months Ended

Jun. 30, 2020

Discontinued Operations and Disposal Groups [Abstract]

Assets and Liabilities Held for Sale

The total assets and liabilities of the German wholesale joint venture that have met the classification of held for sale on the Company’s Condensed Consolidated Balance Sheets are as follows:

(In millions)	June 30, 2020		March 31, 2020
Assets
Current assets
Receivables, net and other current assets	$	481	$	548
Inventories, net	499		478
Long-term assets	90		88
Remeasurement of assets of business held for sale to fair value less cost to sell (1)	(278)		(272)
Total assets held for sale	$	792	$	842
Liabilities
Current liabilities
Drafts and accounts payable	$	278	$	450
Other accrued liabilities	41		40
Long-term liabilities	169		166
Total liabilities held for sale	$	488	$	656

(1)Includes the effect of approximately $3 million unfavorable and $3 million favorable cumulative foreign currency translation adjustment as of June 30, 2020 and March 31, 2020, respectively.