v3.26.1
SUMMARY OF ACCOUNTING POLICIES (Tables)
 12 Months Ended
Mar. 31, 2026
Accounting Policies [Abstract]  
Schedule of Allowance for Doubtful Accounts
The following table summarizes the activity in the Company's allowance for doubtful accounts during fiscal years 2026, 2025 and 2024:
Balance at
Beginning
of Year		Charges (Recoveries) to Costs and Expenses (1)Deductions/
Write-Offs		Balance at
End of
Year
(In millions)
Allowance for doubtful accounts:
Year ended March 31, 2024$6 $9 $(3)$12 
Year ended March 31, 202512 (1)(4)7 
Year ended March 31, 20267 3 (2)8 

(1)Charges and recoveries incurred during fiscal years 2026, 2025 and 2024 are primarily for costs and expenses or bad debt recoveries related to various distressed customers.
Schedule of Cash and Cash Equivalents
Cash and cash equivalents consisted of the following:
As of March 31,
20262025
(In millions)
Cash and bank balances$745 $754 
Money market funds and time deposits1,644 1,535 
$2,389 $2,289 
Schedule of Components of Inventories The components of inventories, net of applicable lower of cost or net realizable value write-downs, were as follows:
As of March 31,
20262025
(In millions)
Raw materials$4,834 $4,092 
Work-in-progress474 485 
Finished goods537 494 
$5,845 $5,071 
Schedule of Property and Equipment, Net Property and equipment is comprised of the following:
Depreciable Life
(In Years)		As of March 31,
20262025
(In millions)
Machinery and equipment
2 - 10
$4,058 $3,978 
Buildings301,414 1,342 
Leasehold improvementsShorter of lease term or useful life of the improvement676 669 
Furniture, fixtures, computer equipment and software, and other
3 - 7
570 564 
Land—126 126 
Construction-in-progress—459 271 
7,303 6,950 
Accumulated depreciation and amortization(4,798)(4,620)
Property and equipment, net$2,505 $2,330 
Schedule of Goodwill
The following table summarizes the activity in the Company's goodwill during fiscal years 2026 and 2025:
ITSRMSCPITotal
(In millions)
Balance at March 31, 2024$229 $490 $416 $1,135 
Acquisitions (1)8 — 201 209 
Foreign currency translation adjustments— — (3)(3)
Balance at March 31, 2025237 490 614 1,341 
Acquisitions (2)— — 8 8 
Foreign currency translation adjustments2 29 (11)20 
Balance at March 31, 2026$239 $519 $611 $1,369 
(1)Represents goodwill of $170 million from the Crown acquisition, $31 million from the JetCool acquisition and $8 million from an acquisition completed in the first quarter of fiscal year 2025.
(2)Represents goodwill of $8 million from an acquisition of a manufacturing business in Bielsko Biala, Poland in the first quarter of fiscal year 2026. Refer to note 19 for further details.
Schedule of Components of Acquired Intangible Assets
The components of acquired intangible assets are as follows:
As of March 31, 2026As of March 31, 2025
Weighted-Average Remaining Useful life
(in Years)		Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount
(In millions)
Intangible assets:
Customer-related intangibles8.1$317 $(156)$161 $383 $(186)$197 
Licenses and other intangibles6.0198 (76)122 365 (219)146 
Total$515 $(232)$283 $748 $(405)$343 
Schedule of Estimated Future Annual Amortization Expense for Intangible Assets The estimated future annual amortization expense for acquired intangible assets is as follows:
Fiscal Year Ending March 31,Amount
(In millions)
2027$58 
202844 
202941 
203036 
203132 
Thereafter72 
Total amortization expense$283 
Schedule of Supplier Finance Program The roll-forward of the Company's outstanding obligations confirmed as valid under its supplier finance programs for the fiscal years ended March 31, 2026 and March 31, 2025 are as follows:
Fiscal Year Ended
March 31, 2026March 31, 2025
(In millions)
Confirmed obligations outstanding at the beginning of the year$119 $123 
Invoices confirmed during the year571 574 
Confirmed invoices paid during the year(543)(569)
Foreign currency exchange impact7 (9)
Confirmed obligations outstanding at the end of the year$154 $119