Leases (Tables)

12 Months Ended

Mar. 31, 2026

Schedule of assets and liabilities related to operating and financing leases

The table below presents the classification of leasing assets and liabilities within our consolidated balance sheets.


		March 31,
in millions	Consolidated Balance Sheet Classification	2026		2025
ASSETS
Operating lease right-of-use assets	Other long–term assets	$	116	$	115
Finance lease assets(1)	Property, plant and equipment, net	35		16
Total lease assets		$	151	$	131

LIABILITIES
Current:
Operating lease liabilities	Accrued expenses and other current liabilities	$	21	$	21
Finance lease liabilities	Current portion of long–term debt	9		6
Long-term:
Operating lease liabilities	Other long–term liabilities	91		89
Finance lease liabilities	Long–term debt, net of current portion	24		9
Total lease liabilities		$	145	$	125

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(1)Finance lease assets are recorded net of accumulated depreciation of $31 million and $26 million as of March 31, 2026 and March 31, 2025, respectively.

Lease, Cost


in millions	Income Statement Classification	Fiscal 2026		Fiscal 2025		Fiscal 2024
Operating lease costs(1)	Selling, general and administrative expenses	$	79	$	70	$	59

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(1)Operating lease costs include short-term leases and variable lease costs.

Schedule of lease information

The following table presents the weighted-average remaining lease term and discount rates.


	March 31,
	2026		2025
Weighted-average remaining lease term
Operating leases	8.6 years		9.5 years
Finance leases	6.7 years		3.6 years
Weighted-average discount rate
Operating leases	4.77	%	5.29	%
Finance leases	4.73	%	4.61	%

Schedule of Cash Flow, Supplemental Disclosures


in millions	Fiscal 2026		Fiscal 2025		Fiscal 2024
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases	$	64	$	67	$	65
Financing cash flows from finance leases	8		6		8
Leased assets obtained in exchange for new finance lease liabilities	25		4		11
Leased assets obtained in exchange for new operating lease liabilities	30		22		11

The Company implemented the new ASU 2023-09 disclosure guidelines regarding cash taxes paid both in the U.S. and foreign jurisdictions on a prospective basis beginning in the fiscal year ended March 31, 2026 as illustrated below.


	Fiscal 2026
Income Taxes Paid	Amount (in millions)		Percent
Domestic - Federal Tax	$	2	1	%

Foreign Tax
Brazil	92		51	%
Korea	48		27	%
China	15		8	%
Germany	9		5	%






Other Foreign Jurisdictions	14		8	%
Total Taxes Paid	$	180	100	%

Finance Lease, Liability, Fiscal Year Maturity

Future minimum lease payments as of March 31, 2026, for our operating and finance leases having an initial or remaining non-cancelable lease term in excess of one year are as follows (in millions).


Fiscal Year Ending March 31,	Operating leases(1)		Finance leases(2)
2027	$	27	$	9
2028	20		7
2029	16		4
2030	11		3
2031	8		2
Thereafter	56		10
Total minimum lease payments	138		35
Less: interest	26		2
Present value of lease liabilities	$	112	$	33

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(1)Operating lease payments related to options to extend lease terms that are reasonably certain of being exercised are immaterial as of March 31, 2026.

(2)Finance lease payments related to options to extend lease terms that are reasonably certain of being exercised are immaterial, and we do not have leases signed but not yet commenced as of March 31, 2026.

Lessee, Operating Lease, Liability, Maturity

Future minimum lease payments as of March 31, 2026, for our operating and finance leases having an initial or remaining non-cancelable lease term in excess of one year are as follows (in millions).


Fiscal Year Ending March 31,	Operating leases(1)		Finance leases(2)
2027	$	27	$	9
2028	20		7
2029	16		4
2030	11		3
2031	8		2
Thereafter	56		10
Total minimum lease payments	138		35
Less: interest	26		2
Present value of lease liabilities	$	112	$	33

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(1)Operating lease payments related to options to extend lease terms that are reasonably certain of being exercised are immaterial as of March 31, 2026.