Goodwill and Intangible Assets, Net

3 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The Company evaluates goodwill for impairment on an annual basis in the first fiscal quarter, and more frequently if indicators for potential impairment exist. Goodwill impairment testing is conducted at the reporting unit level, which is generally defined as an operating segment or one level below an operating segment (also known as a component), for which discrete financial information is available and segment management regularly reviews the operating results of that reporting unit. The annual impairment testing performed in fiscal 2026 and fiscal 2025 did not indicate any impairment of goodwill.

Changes in the carrying amount of goodwill were as follows:


(In millions)	U.S. Pharmaceutical		Prescription Technology Solutions		Medical-Surgical Solutions		International		Corporate		Total
Balance, March 31, 2025	$	4,132	$	2,027	$	2,507	$	1,327	$	29	$	10,022
Goodwill acquired	1,238		39		—		—		—		1,277
Disposals	(9)		—		—		—		—		(9)

Foreign currency translation adjustments, net	—		—		—		75		—		75
Other adjustments	29		—		—		—		(29)		—
Balance, June 30, 2025	$	5,390	$	2,066	$	2,507	$	1,402	$	—	$	11,365

Intangible Assets

Information regarding intangible assets was as follows:


	June 30, 2025							March 31, 2025
(Dollars in millions)	Weighted- Average Remaining Amortization Period (Years)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer relationships	10	$	1,487	$	(675)	$	812	$	1,475	$	(650)	$	825
Service agreements	23	3,298		(752)		2,546		1,116		(728)		388

Trademarks and trade names	20	575		(282)		293		378		(278)		100
Technology	9	312		(146)		166		288		(141)		147
Other	22	487		(32)		455		31		(27)		4
Total		$	6,159	$	(1,887)	$	4,272	$	3,288	$	(1,824)	$	1,464

All intangible assets were subject to amortization as of June 30, 2025 and March 31, 2025. Amortization expense of intangible assets was $50 million and $63 million for the three months ended June 30, 2025 and 2024, respectively.


(In millions)	Estimated Amortization Expense
Fiscal 2026 (from July 1, 2025 to March 31, 2026)	$	214
Fiscal 2027	284
Fiscal 2028	279
Fiscal 2029	278
Fiscal 2030	273
Thereafter	2,944

Refer to Financial Note 2, “Business Acquisitions and Divestitures,” for a description of the goodwill and intangible assets recognized as part of the PRISM Vision and Core Ventures acquisitions.