| Summary of results of segments |
| | | | | | | | | | | | | | | | | | Year Ended March 31, 2026 | | | United | | | | | Principal | | Strategic | | Total | (Dollars in millions) | | States | | Japan | | Markets | | Markets | | Segments | Revenue | | $ | 3,784 | | $ | 2,284 | | $ | 5,399 | | $ | 3,625 | | $ | 15,092 | Cost of service, excluding depreciation and amortization(1) | | | (2,349) | | | (1,441) | | | (3,659) | | | (2,373) | | | (9,822) | Selling, general and administrative expenses, excluding depreciation and amortization(1) | | | (581) | | | (342) | | | (888) | | | (614) | | | (2,425) | Other items(2) | | | (19) | | | (15) | | | (17) | | | (16) | | | (68) | Segment adjusted EBITDA | | $ | 835 | | $ | 486 | | $ | 834 | | $ | 622 | | $ | 2,777 | | | | | | | | | | | | | | | | | | | Year Ended March 31, 2025 | | | United | | | | | Principal | | Strategic | | Total | (Dollars in millions) | | States | | Japan | | Markets | | Markets | | Segments | Revenue | | $ | 3,876 | | $ | 2,358 | | $ | 5,206 | | $ | 3,617 | | $ | 15,057 | Cost of service, excluding depreciation and amortization(1) | | | (2,476) | | | (1,613) | | | (3,471) | | | (2,405) | | | (9,964) | Selling, general and administrative expenses, excluding depreciation and amortization(1) | | | (638) | | | (343) | | | (831) | | | (561) | | | (2,372) | Other items(2) | | | (37) | | | (13) | | | (19) | | | (46) | | | (115) | Segment adjusted EBITDA | | $ | 725 | | $ | 390 | | $ | 886 | | $ | 606 | | $ | 2,606 | | | | | | | | | | | | | | | | | | | Year Ended March 31, 2024 | | | United | | | | | Principal | | Strategic | | Total | (Dollars in millions) | | States | | Japan | | Markets(3) | | Markets(3) | | Segments | Revenue | | $ | 4,295 | | $ | 2,344 | | $ | 5,479 | | $ | 3,934 | | $ | 16,052 | Cost of service, excluding depreciation and amortization(1) | | | (2,778) | | | (1,651) | | | (3,957) | | | (2,720) | | | (11,106) | Selling, general and administrative expenses, excluding depreciation and amortization(1) | | | (735) | | | (322) | | | (847) | | | (577) | | | (2,480) | Other items(2) | | | (2) | | | (9) | | | 2 | | | 4 | | | (5) | Segment adjusted EBITDA | | $ | 781 | | $ | 361 | | $ | 677 | | $ | 642 | | $ | 2,461 |
| (1) | Cost of service, excluding depreciation and amortization and selling, general and administrative expenses, excluding depreciation and amortization are both used in calculating segment adjusted EBITDA and exclude depreciation of property, equipment and capitalized software and amortization of transition costs and prepaid software. |
| (2) | Other items include workforce rebalancing charges incurred subsequent to March 31, 2024 and other expense (income). |
| (3) | Effective June 1, 2024, the Company made a minor change to its geographic reportable segments to reflect how it manages its operations and measures business performance, transitioning the reporting and management of its operations in Australia/New Zealand from the Principal Markets segment to the Strategic Markets segment. Historical fiscal 2024 segment information was recast to reflect this change in the Company’s Annual Report on Form 10-K for the fiscal year ended March 31, 2025. |
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| Summary of reconciliation of adjusted EBITDA to consolidated pretax income |
| | | | | | | | | | | | Year Ended March 31, | (Dollars in millions) | | 2026 | | 2025 | | 2024 | Segment adjusted EBITDA | | $ | 2,777 | | $ | 2,606 | | $ | 2,461 | Workforce rebalancing charges incurred prior to March 31, 2024 | | | — | | | — | | | (138) | Charges related to ceasing to use leased/fixed assets and lease terminations | | | — | | | (48) | | | (39) | Transaction-related (costs) benefits | | | (41) | | | 125 | | | 46 | Stock-based compensation expense | | | (64) | | | (100) | | | (95) | Interest expense | | | (89) | | | (100) | | | (122) | Depreciation of property, equipment and capitalized software | | | (762) | | | (660) | | | (834) | Amortization expense | | | (1,266) | | | (1,308) | | | (1,287) | Corporate expense not allocated to the segments | | | (105) | | | (90) | | | (95) | Other adjustments* | | | (36) | | | 10 | | | (68) | Pretax income (loss) | | $ | 414 | | $ | 435 | | $ | (168) |
* Other adjustments represent pension expenses other than pension servicing costs and multi-employer plan costs, significant litigation costs and benefits, and currency impacts of highly inflationary countries. For the year ended March 31, 2024, other adjustments also included an adjustment to reduce amortization expense for the amount already included in transaction-related (costs) benefits above.
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| Summary of geographic information |
| | | | | | | | | | | | Year Ended March 31, | (Dollars in millions) | | 2026 | | 2025 | | 2024 | Revenue* | | | | | | | | | | United States | | $ | 3,784 | | $ | 3,876 | | $ | 4,295 | Japan | | | 2,284 | | | 2,358 | | | 2,344 | Other countries | | | 9,024 | | | 8,823 | | | 9,413 | Total revenue | | $ | 15,092 | | $ | 15,057 | | $ | 16,052 |
| * | Revenues are attributed to countries based on the location of the client and exclude certain allocations. |
| | | | | | | | | At March 31, | (Dollars in millions) | | 2026 | | 2025 | Property and equipment, net | | | | | | | United States* | | $ | 877 | | $ | 883 | Other countries | | | 1,640 | | | 1,687 | Total property and equipment, net | | $ | 2,517 | | $ | 2,570 | | | | | | | | Operating right-of-use assets, net | | | | | | | United States* | | $ | 179 | | $ | 134 | Belgium | | | 87 | | | 92 | France | | | 84 | | | 81 | Italy | | | 82 | | | 76 | Other countries | | | 420 | | | 349 | Total operating right-of-use assets, net | | $ | 853 | | $ | 731 |
* Includes corporate and other.
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