EQUITY (Tables)

12 Months Ended

Mar. 31, 2026

Reclassifications and taxes related to items of other comprehensive income (loss)


(Dollars in millions)		Pretax			Tax (Expense)			Net-of-Tax
For the year ended March 31, 2026		Amount			Benefit			Amount
Foreign currency translation adjustments:
Foreign currency translation adjustments		$	127		$	—		$	127
Unrealized gains (losses) on net investment hedges			(75)			2			(73)
Total foreign currency translation adjustments		$	53		$	2		$	55
Unrealized gains (losses) on cash flow hedges:
Unrealized gains (losses) arising during the period		$	2		$	—		$	2
Reclassification of (gains) losses to net income			(8)			(1)			(9)
Total unrealized gains (losses) on cash flow hedges		$	(6)		$	(1)		$	(7)
Retirement-related benefit plans:
Prior service (costs) credits		$	(34)		$	9		$	(25)
Net gains (losses) arising during the period			64			(18)			46
Curtailments and settlements			10			(3)			8
Amortization of prior service costs (credits)			2			(1)			2
Amortization of net (gains) losses			10			(3)			7
Total retirement-related benefit plans		$	53		$	(16)		$	38
Other comprehensive income (loss)		$	100		$	(14)		$	86


(Dollars in millions)		Pretax			Tax (Expense)			Net-of-Tax
For the year ended March 31, 2025		Amount			Benefit			Amount
Foreign currency translation adjustments:
Foreign currency translation adjustments		$	(50)		$	—		$	(50)
Unrealized gains (losses) on net investment hedges			4			(2)			2
Total foreign currency translation adjustments		$	(46)		$	(2)		$	(48)
Unrealized gains (losses) on cash flow hedges:
Unrealized gains (losses) arising during the period		$	(14)		$	3		$	(11)
Reclassification of (gains) losses to net income			11			—			11
Total unrealized gains (losses) on cash flow hedges		$	(2)		$	3		$	—
Retirement-related benefit plans:
Prior service (costs) credits		$	2		$	(1)		$	1
Net gains (losses) arising during the period			17			(4)			13
Curtailments and settlements			7			(2)			5
Amortization of net (gains) losses			16			(4)			12
Total retirement-related benefit plans		$	42		$	(10)		$	32
Other comprehensive income (loss)		$	(6)		$	(10)		$	(16)


(Dollars in millions)		Pretax			Tax (Expense)			Net-of-Tax
For the year ended March 31, 2024		Amount			Benefit			Amount
Foreign currency translation adjustments:
Foreign currency translation adjustments		$	(36)		$	—		$	(36)
Unrealized losses on net investment hedges			(11)			—			(11)
Total foreign currency translation adjustments		$	(47)		$	—		$	(47)
Unrealized gains (losses) on cash flow hedges:
Unrealized gains (losses) arising during the period		$	22		$	(1)		$	21
Reclassification of (gains) losses to net income			(21)			—			(21)
Total unrealized gains (losses) on cash flow hedges		$	1		$	(1)		$	—
Retirement-related benefit plans:
Prior service (costs) credits		$	(3)		$	1		$	(2)
Net gains (losses) arising during the period			(56)			10			(45)
Curtailments and settlements			10			(2)			8
Amortization of prior service (credits) costs			1			—			1
Amortization of net (gains) losses			5			(2)			3
Total retirement-related benefit plans		$	(42)		$	7		$	(36)
Other comprehensive income (loss)		$	(88)		$	6		$	(82)

Accumulated other comprehensive income (loss), net of taxes


		Net Unrealized			Foreign Currency			Net Change in			Accumulated Other
		Gains (Losses)			Translation			Retirement-Related			Comprehensive
(Dollars in millions)		on Cash Flow Hedges			Adjustments*			Benefit Plans			Income (Loss)
March 31, 2023		$	—		$	(921)		$	(142)		$	(1,062)
Other comprehensive income (loss)			—			(47)			(36)			(82)
March 31, 2024		$	—		$	(967)		$	(178)		$	(1,145)
Other comprehensive income (loss)			—			(48)			32			(16)
March 31, 2025		$	1		$	(1,016)		$	(145)		$	(1,160)
Other comprehensive income (loss)			(7)			55			38			86
March 31, 2026		$	(6)		$	(961)		$	(108)		$	(1,074)

*	Foreign currency translation adjustments are presented gross except for any associated hedges, which are presented net of tax.