v3.25.1
Other Expense (Income)
 12 Months Ended
Mar. 31, 2025
Other Income and Expenses [Abstract]  
18. OTHER (INCOME) EXPENSES, NET
18. OTHER (INCOME) EXPENSES, NET
Other expenses (income), net consists of the following.
in millions
Fiscal 2025
Fiscal 2024
Fiscal 2023
Sierre flood
Fixed asset charges$30 $— $— 
Inventory charges12 — — 
Idle fixed costs(1)
20 — — 
Repairs and clean-up costs37 — — 
Excess costs to fulfill customer contracts(2)
35 — — 
Property insurance recoveries(34)— — 
Other5 — — 
Sierre flood losses, net of recoveries105 — — 
Sierre business interruption insurance recoveries(30)— — 
Currency losses, net(3)
7 10 21 
Unrealized (gains) losses on change in fair value of derivative instruments, net(4)
(57)36 (23)
Realized losses (gains) on change in fair value of derivative instruments, net(4)
97 (80)83 
Loss on sale or disposal of assets, net
4 6 1 
Loss on Brazilian tax litigation, net
— — 1 
Interest income
(23)(23)(20)
Non-operating net periodic benefit cost(5)
— (3)(4)
Other, net(6)
31 32 20 
Other expenses (income), net
$134 $(22)$79 
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(1)Idle fixed costs consist primarily of employment costs incurred during the period in which operations at the Sierre plant were halted.
(2)Excess costs to fulfill customer contracts consist of freight and related costs incurred to reroute material to fulfill customer contracts.
(3)Includes losses recognized on balance sheet remeasurement currency exchange contracts, net. See Note 14 – Currency Losses (Gains) and Note 15 – Financial Instruments and Commodity Contracts for further details.
(4)See Note 15 – Financial Instruments and Commodity Contracts for further details.
(5)Represents net periodic benefit cost, exclusive of service cost, for the Company's pension and other post-retirement benefit plans. For further details, refer to Note 13 – Postretirement Benefit Plans.
(6)Other, net for fiscal 2025, includes $15 million in federal contributions levied in Brazil on remittances of royalties and services to non-residents made by corporate tax payers, which amounted to $11 million and $13 million in fiscal 2024 and fiscal 2023, respectively. Additionally, other, net in fiscal 2025 includes $10 million related to transaction costs for the postponed initial public offering and in fiscal 2023 includes $10 million from the release of certain accrued expenses.