Fair Value (Tables)

9 Months Ended

Dec. 31, 2019

Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis, excluding pension assets and derivative assets and liabilities. See Note 9 - "Derivative and Hedging Activities" for information about the fair value of the Company's derivative assets and liabilities. There were no transfers between any of the levels during the periods presented.



	Fair Value Hierarchy
(in millions)	December 31, 2019
Assets:	Fair Value		Level 1		Level 2		Level 3
Money market funds and money market deposit accounts	$	7	$	7	$	—	$	—
Time deposits⁽¹⁾	256		256		—		—
Other debt securities⁽²⁾	54		—		51		3
Deferred purchase price receivable	120		—		—		120
Total assets	$	437	$	263	$	51	$	123

Liabilities:
Contingent consideration	$	58	$	—	$	—	$	58
Total liabilities	$	58	$	—	$	—	$	58



	March 31, 2019
Assets:	Fair Value		Level 1		Level 2		Level 3
Money market funds and money market deposit accounts	$	6	$	6	$	—	$	—
Time deposits⁽¹⁾	194		194		—		—
Other debt securities⁽²⁾	53		—		49		4
Deferred purchase price receivable	574		—		—		574
Total assets	$	827	$	200	$	49	$	578

Liabilities:
Contingent consideration	$	41	$	—	$	—	$	41
Total liabilities	$	41	$	—	$	—	$	41

⁽¹⁾ Cost basis approximated fair value due to the short period of time to maturity.

⁽²⁾ Other debt securities include available-for-sale investments with Level 2 inputs that have a cost basis of $38 million and $38 million, and unrealized gains of $13 million and $11 million, as of December 31, 2019 and March 31, 2019, respectively.