Redeemable Noncontrolling Interests and Noncontrolling Interests

6 Months Ended

Sep. 30, 2025

Redeemable Noncontrolling Interests and Noncontrolling Interests

Redeemable Noncontrolling Interests

Noncontrolling interests with redemption features, such as put rights, that are not solely within the Company’s control are considered redeemable noncontrolling interests.

During the six months ended September 30, 2025, the Company initially recognized redeemable noncontrolling interests of $25 million related to its acquisition of PRISM Vision and $700 million related to its acquisition of Core Ventures. The Company utilized a Monte Carlo simulation model to determine the fair value of the redeemable noncontrolling interests for both acquisitions. As a result of the quarterly valuation process, the Company recorded an adjustment to the redemption value of the redeemable noncontrolling interests of $2 million for PRISM Vision and $45 million for Core Ventures.

The Company recorded a total attribution of net income to the redeemable noncontrolling shareholders of $5 million during the three and six months ended September 30, 2025. This amount was recorded in “Net income attributable to noncontrolling interests” in the Company’s Condensed Consolidated Statement of Operations.

Redeemable noncontrolling interests are presented outside of stockholders’ deficit in the Company’s Condensed Consolidated Balance Sheet. Refer to Financial Note 2, “Business Acquisitions and Divestitures,” for additional information on the acquisition activity discussed above.

Noncontrolling Interests

Net income attributable to noncontrolling interests includes third-party equity interests in the Company’s consolidated entities, including ClarusONE Sourcing Services LLP, Vantage Oncology Holdings, LLC and SCRI Oncology, LLC.

The Company allocated $48 million and $46 million of net income to noncontrolling interests during the three months ended September 30, 2025 and 2024, respectively, and $95 million and $91 million during the six months ended September 30,

2025 and 2024, respectively, which was recorded in “Net income attributable to noncontrolling interests” in the Company’s Condensed Consolidated Statements of Operations.

Changes in redeemable noncontrolling interests and noncontrolling interests for the three and six months ended September 30, 2025 and 2024 were as follows:


	Fiscal Year 2026				Fiscal Year 2025
(In millions)	Noncontrolling Interests		Redeemable Noncontrolling Interests		Noncontrolling Interests
Balance, March 31	$	380	$	—	$	372
Net income attributable to noncontrolling interests	47		—		45
Payments to noncontrolling interests	(47)		—		(43)
Acquisition of PRISM Vision	—		25		—
Acquisition of Core Ventures	—		700		—
Other	(1)		—		—
Balance, June 30	$	379	$	725	$	374
Net income attributable	48		5		46
Payments to noncontrolling interests	(44)		—		(45)
Adjustment to redemption values	—		47		—
Other	1		—		—
Balance, September 30	$	384	$	777	$	375