Investments and Fair Value Measurements (Tables)

12 Months Ended

Mar. 31, 2026

Schedule of Investments in Other Long Term Assets

Our investments related to unconsolidated entities included in other long term assets of the Company’s consolidated balance sheets at March 31 were:


Investments	2026		2025
Equity method investments	$	184	$	5
Other investments	160		85
Total Investments	$	344	$	90

Schedule of Recurring Fair Value Measurements

The financial instruments measured at fair value on a recurring basis in the accompanying consolidated balance sheets consist of the following:


	March 31, 2026
	Level 1		Level 2		Total
Assets:
Money market funds	$	307	$	—	$	307


Long term deferred compensation plan asset (2)	40		—		40
Total Assets	$	347	$	—	$	347
Liabilities:
Current derivative instruments (1)	—		1		1

Long term deferred compensation plan liability (2)	40		—		40
Total Liabilities	$	40	$	1	$	41


	March 31, 2025
	Level 1		Level 2		Total
Assets:
Money market funds	$	802	$	—	$	802
Current derivative instruments (1)	—		1		1

Long term deferred compensation plan asset (2)	$	35	$	—	$	35
Total Assets	$	837	$	1	$	838
Liabilities:

Current derivative instruments (1)	$	—	$	1	$	1
Long-term derivative instruments (1)	—		2		2
Long term deferred compensation plan liability (2)	35		—		35
Total liabilities	$	35	$	3	$	38

(1) The Company’s interest rate swaps are considered over-the-counter derivatives which are recorded in the consolidated balance sheet on a gross basis at estimated fair value. Fair value is estimated based on the present value of future cash flows using a model-derived valuation that uses Level 2 observable inputs such as interest rate yield curves. See Note 11, “Derivatives,” to the consolidated financial statements for further information on the Company’s derivative instruments designated as cash flow hedges.

(2) Investments in this category consist primarily of mutual funds whose fair values are determined by reference to the quoted market price per unit in active markets multiplied by the number of units held without consideration of transaction costs. These assets are recorded in other long-term assets and represent investments held in a consolidated trust to fund the Company's non-qualified deferred compensation plan, which is recorded in other long-term liabilities on our consolidated balance sheets.

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments

The carrying amount and estimated fair value of debt consists of the following:


	March 31, 2026				March 31, 2025
	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Term Loan A-1	$	714	$	712	$	1,526	$	1,521
Term Loan A-2	750		743		—		—
3.875% Senior Notes due 2028	700		680		700		666
4.000% Senior Notes due 2029	500		484		500		471
5.950% Senior Notes due 2033	650		663		650		651
5.950% Senior Notes due 2035	650		655		650		645
Total Debt	$	3,964	$	3,937	$	4,026	$	3,954