v3.26.1
Equity Investments (Tables)
 3 Months Ended
Jun. 30, 2026
Investments, All Other Investments [Abstract]  
Schedule of Equity Investments
A summary of the components of equity investments is as follows:
As of
(in millions)June 30, 2026March 31, 2026
Equity method investments under fair value option$141 $148 
Equity investments in publicly listed companies290 96 
Equity method investments under equity method12 13 
Non-marketable equity securities146 130 
Total equity investments$589 $387 
Income (loss) from equity investments, net is as follows:
Three Months Ended June 30,
(in millions)20262025
Equity investments in publicly listed companies$126 $4 
Equity method investments (1)
(8)(1)
Non-marketable equity securities (includes NAV)10 1 
Total income (loss) from equity investments, net$128 $4 
(1)Includes equity method investments where the Company elected the fair value option, including those under the net asset value (“NAV”) practical expedient, along with investments accounted for under the equity method.
Schedule of Unrealized Gain (Loss) on Investments
The components of gains and (losses), which primarily include realized and unrealized gains and losses on non-marketable securities inclusive of those measured under the NAV practical expedient, are as follows:
Three Months Ended
June 30,
(in millions)20262025
Observable price adjustments on non-marketable equity securities (includes NAV)$10 $1 
Total income (loss) from equity investments in non-marketable securities, net $10 $1 
Schedule of Realized Gain (Loss) on Investments
The components of gains and (losses), which primarily include realized and unrealized gains and losses on non-marketable securities inclusive of those measured under the NAV practical expedient, are as follows:
Three Months Ended
June 30,
(in millions)20262025
Observable price adjustments on non-marketable equity securities (includes NAV)$10 $1 
Total income (loss) from equity investments in non-marketable securities, net $10 $1