v3.25.1
Accounts Receivable
 12 Months Ended
Mar. 31, 2025
Receivables [Abstract]  
Accounts Receivable
3. ACCOUNTS RECEIVABLE
Accounts receivable, net consists of the following.
 March 31,
in millions20252024
Trade accounts receivable$1,964 $1,671 
Other accounts receivable116 96 
Accounts receivable — third parties2,080 1,767 
Allowance for credit losses — third parties(7)(7)
Accounts receivable, net — third parties$2,073 $1,760 
Accounts receivable, net — related parties$136 $161 
Allowance for Credit Losses
As of March 31, 2025 and 2024, our allowance for credit losses represented approximately 0.3% and 0.4% of gross accounts receivable — third parties, respectively.
Activity in the allowance for credit losses is as follows.
in millionsBalance at Beginning of PeriodAdditions Charged to ExpenseAccounts Recovered/(Written-Off)Balance at End of Period
Fiscal 2025
$7 $— $— $7 
Fiscal 2024
5 2 — 7 
Fiscal 2023
6 — (1)5 
Factoring of Trade Receivables
We factor trade receivables based on local cash needs and in an attempt to balance the timing of cash flows of trade payables and receivables. Factored invoices are not included in our consolidated balance sheets when we do not retain a financial or legal interest. If a financial or legal interest is retained, we classify these factorings as secured borrowings.
The following tables summarize amounts relating to our factoring activities.
in millions
Fiscal 2025
Fiscal 2024
Fiscal 2023
Factoring expense(1)
$85 $96 $98 
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(1)Factoring expense is included within selling, general and administrative expenses in our accompanying statements of operations.