​

​

June 30, 

​

March 31,

(Dollars in millions)

2025

2025

Accounts receivable (net of allowances for credit losses of $9 at June 30, 2025 and $13 at March 31, 2025) *

​

$

1,277

​

$

1,345

Contract assets †

​

52

​

50

Deferred income (current)

​

854

​

746

Deferred income (noncurrent)

​

441

​

341

*

Included unbilled receivable balances of $396 million at June 30, 2025 and $425 million at March 31, 2025.

†

Contract assets represent goods or services delivered by the Company which give the Company the right to consideration that is typically subject to milestone completion or client acceptance and are included within prepaid expenses and other current assets in the Consolidated Balance Sheet.

​

​

June 30, 

​

March 31,

(Dollars in millions)

2025

2025

Deferred transition costs

​

$

764

​

$

697

Prepaid software costs

​

1,832

​

876

Capitalized costs to fulfill contracts

​

234

​

195

Capitalized costs to obtain contracts

​

280

​

281

Total deferred costs *

​

$

3,111

​

$

2,049

*

Of the total deferred costs, $1,144 million was current and $1,968 million was noncurrent at June 30, 2025, and $1,009 million was current and $1,040 million was noncurrent at March 31, 2025.