v3.25.1
Restructuring and Impairment (Tables)
12 Months Ended
Mar. 31, 2025
Restructuring and Related Activities [Abstract]  
Summary of restructuring reserve activity
in millionsNorth AmericaEuropeAsiaSouth AmericaOther OperationsTotal
Restructuring liability balance as of March 31, 2022
$$$$$— $13 
Restructuring and impairment expenses, net(1)
28 — (1)33 
Cash payments(1)(2)— (1)— (4)
Other(2)
(19)— — — (5)(24)
Restructuring liability balance as of March 31, 2023
$10 $$— $$— $18 
Restructuring and impairment expenses, net(3)
35 — — 42 
Cash payments(4)(1)— (4)— (9)
Other(2)
(25)— — (2)— (27)
Restructuring liability balance as of March 31, 2024
$16 $$— $$— $24 
Restructuring and impairment expenses, net
30 17 53 
Cash payments(9)(2)— (2)— (13)
Other(2)
(17)— (17)(1)(1)(36)
Restructuring liability balance as of March 31, 2025
$20 $$— $$$28 
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(1)Restructuring and impairment expenses, net for fiscal 2023 primarily relate to the shutdown of casting and hot rolling assets at our Richmond plant in North America.
(2)Other includes the impact of foreign currency on our restructuring liability as well as the removal of other non-cash expenses recorded and included within restructuring and impairment expenses, net in the table above that are not recorded through the restructuring liability. Other non-cash expenses recorded within restructuring and impairment expenses, net in fiscal 2025, 2024 and fiscal 2023 consisted of impairment charges, accelerated depreciation, and other non-cash expenses of $34 million, $28 million and $23 million, respectively.
(3)Restructuring and impairment expenses, net for fiscal 2024 primarily relate to the shutdown of our Clayton plant in North America.