v3.26.1
Other Financial Statement Details
 3 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Other Financial Statement Details Other Financial Statement Details
Accounts Receivable
 
Accounts receivable consists of the following (in millions):
June 30,March 31,
20262026
Trade accounts receivable$957.1 $889.7 
Other15.9 10.3 
Total accounts receivable, gross973.0 900.0 
Less: allowance for expected credit losses5.3 5.3 
Total accounts receivable, net$967.7 $894.7 

Inventories

The components of inventories consist of the following (in millions):
June 30,March 31,
20262026
Raw materials$136.4 $135.1 
Work in process740.1 731.4 
Finished goods170.8 168.9 
Total inventories$1,047.3 $1,035.4 

Property, Plant and Equipment

Property, plant and equipment consists of the following (in millions):
June 30,March 31,
20262026
Land$99.7 $99.7 
Building and building improvements712.6 711.0 
Machinery and equipment2,487.1 2,470.3 
Projects in process424.5 429.5 
Total property, plant and equipment, gross3,723.9 3,710.5 
Less: accumulated depreciation and amortization2,639.5 2,603.8 
Total property, plant and equipment, net$1,084.4 $1,106.7 
Depreciation expense attributed to property, plant and equipment was $37.8 million for the three months ended June 30, 2026, compared to $39.5 million for the three months ended June 30, 2025.
The Company reviews and evaluates its long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amount of such assets may not be recoverable. For each of the three months ended June 30, 2026 and 2025, the Company’s evaluation of its property, plant and equipment did not result in any material impairments.

Accrued Liabilities

Accrued liabilities consists of the following (in millions):
June 30,March 31,
20262026
Accrued compensation and benefits$164.3 $132.1 
Income taxes payable43.1 24.3 
Deferred revenue174.2 179.2 
Sales related reserves and refund liabilities377.0 338.5 
Current portion of lease liabilities37.4 38.8 
Accrued expenses and other liabilities269.5 217.8 
Total accrued liabilities$1,065.5 $930.7