Restructuring, Impairment, and Related Charges, Net (Tables)

12 Months Ended

Mar. 31, 2024

Restructuring and Related Activities [Abstract]

Summary of Details for Charges Recorded

Restructuring, impairment, and related charges, net for the year ended March 31, 2024 consisted of the following:

	Year Ended March 31, 2024
(In millions)	U.S. Pharmaceutical		Prescription Technology Solutions (1)		Medical-Surgical Solutions		International		Corporate (1)		Total
Severance and employee-related costs, net	$	10	$	—	$	(1)	$	2	$	(1)	$	10
Exit and other-related costs (2)	3		11		12		9		27		62
Asset impairments and accelerated depreciation	4		—		—		10		29		43
Total	$	17	$	11	$	11	$	21	$	55	$	115

(1)Includes costs related to operational efficiencies and cost optimization efforts described above to support the Company’s technology solutions.

(2)Exit and other-related costs consist of accruals for costs to be incurred without future economic benefits, project consulting fees, and other exit costs expensed as incurred.

Fiscal 2023

Restructuring, impairment, and related charges, net for the year ended March 31, 2023 consisted of the following:

	Year Ended March 31, 2023
(In millions)	U.S. Pharmaceutical (1)		Prescription Technology Solutions (1)		Medical-Surgical Solutions		International		Corporate (1)		Total
Severance and employee-related costs, net	$	6	$	23	$	2	$	4	$	—	$	35
Exit and other-related costs (2)	7		7		3		21		64		102
Asset impairments and accelerated depreciation	25		13		5		10		19		72
Total	$	38	$	43	$	10	$	35	$	83	$	209

(1)Includes costs related to operational efficiencies and cost optimization efforts described above to support the Company’s technology solutions.

(2)Exit and other-related costs consist of accruals for costs to be incurred without future economic benefits, project consulting fees, and other exit costs expensed as incurred. Corporate includes costs for business transformation and optimization efforts related to the Company’s technology organization. The International segment includes costs related to the Company’s European divestitures.

Fiscal 2022

Restructuring, impairment, and related charges, net for the year ended March 31, 2022 consisted of the following:

	Year Ended March 31, 2022
(In millions)	U.S. Pharmaceutical		Prescription Technology Solutions		Medical-Surgical Solutions		International		Corporate		Total
Severance and employee-related costs, net	$	8	$	1	$	(1)	$	8	$	(7)	$	9
Exit and other-related costs (1)	9		4		5		33		46		97
Asset impairments and accelerated depreciation (2)	18		20		5		35		61		139
Total	$	35	$	25	$	9	$	76	$	100	$	245

(1)Exit and other-related costs consist of accruals for costs to be incurred without future economic benefits, project consulting fees, and other exit costs expensed as incurred. For the Company’s International segment, costs primarily relate to optimization programs in Canada, exit-related actions for the Company’s European divestitures, and programs for operating model and cost optimization efforts in the U.K. For Corporate, primarily represents costs related to the transition to the partial remote work model described above and various other initiatives.

(2)Costs primarily relate to the transition to the partial remote work model described above.

Schedule of Restructuring Reserve by Type of Cost

The following table summarizes the activity related to the liabilities associated with the Company’s restructuring initiatives for the years ended March 31, 2024 and 2023:

(In millions)	U.S. Pharmaceutical		Prescription Technology Solutions		Medical-Surgical Solutions		International		Corporate		Total
Balance, March 31, 2022	$	11	$	3	$	1	$	56	$	59	$	130
Restructuring, impairment, and related charges, net	38		43		10		35		83		209
Non-cash charges	(25)		(13)		(5)		(10)		(19)		(72)
Cash payments	(9)		(7)		(3)		(10)		(86)		(115)
Other (1)	—		—		—		(58)		(2)		(60)
Balance, March 31, 2023 (2)	15		26		3		13		35		92
Restructuring, impairment, and related charges, net	17		11		11		21		55		115
Non-cash charges	(4)		—		—		(10)		(29)		(43)
Cash payments	(15)		(32)		(13)		(5)		(40)		(105)
Other (1)	5		—		—		(9)		—		(4)
Balance, March 31, 2024 (3)	$	18	$	5	$	1	$	10	$	21	$	55

(1)    Other primarily includes cumulative translation adjustments and transfers to certain other liabilities. For the Company’s International segment, other also includes a reduction to the liability for the divestitures of the E.U. disposal group and the U.K. disposal group in fiscal 2023, as discussed in more detail in Financial Note 2, “Business Acquisitions and Divestitures.”

(2)    As of March 31, 2023, the total reserve balance was $92 million, of which $66 million was recorded in “Other accrued liabilities” and $26 million was recorded in “Other non-current liabilities” in the Company’s Consolidated Balance Sheet.

(3)    As of March 31, 2024, the total reserve balance was $55 million, of which $24 million was recorded in “Other accrued liabilities” and $31 million was recorded in “Other non-current liabilities” in the Company’s Consolidated Balance Sheet.