The Company has several commitments under operating leases for warehouses, buildings, and equipment. The Company also has a number of finance leases with an immaterial impact on its consolidated financial statements. Leases have remaining lease terms ranging from approximately 1 year to 18 years.

The components of lease cost recognized were as follows (in millions):


Lease cost	Fiscal Year Ended
	March 31, 2026		March 31, 2025



Operating lease cost	$	179	$	173

Amounts reported in the consolidated balance sheet as of the fiscal years ended March 31, 2026 and 2025 were (in millions, except weighted average lease term and discount rate):


	As of March 31, 2026			As of March 31, 2025
Operating Leases:
Operating lease right-of-use assets	$	659		$	562

Operating lease liabilities *	714			591










Weighted-average remaining lease term (in years)
Operating leases	6.2			6.0


Weighted-average discount rate
Operating leases	4.4		%	4.4		%

*Operating lease liabilities includes $149 million reported in Other current liabilities and $565 million reported in Operating lease liabilities, non-current, within the consolidated balance sheets.

Other information related to leases was as follows (in millions):


	Fiscal Year Ended
	March 31, 2026		March 31, 2025

Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$	175	$	168

Right‑of‑use assets obtained in exchange for lease liabilities:
Operating leases	$	227	$	106

Future lease payments under non-cancellable leases as of March 31, 2026 were as follows (in millions):


Fiscal Year Ended March 31,	Operating Leases
2027	$	176
2028	156
2029	127
2030	100
2031	79
Thereafter	176
Total undiscounted lease payments	814
Less: imputed interest	100
Total lease liabilities	$	714

Total rent expense amounted to $213 million, $194 million and $188 million in fiscal years 2026, 2025 and 2024, respectively.