Leases (Tables)

12 Months Ended

Mar. 31, 2020

Leases [Abstract]

Components of Lease Expense and Supplemental Cash Flow Information Related to Leases

The components of lease expense were as follows:

(in millions)	Fiscal Years Ended March 31, 2020
Operating lease cost	$	698
Short-term lease cost	49
Variable lease cost	46
Sublease income	(45		)
Total operating costs	$	748
Finance lease cost:
Amortization of right-of-use assets	$	405
Interest on lease liabilities	65
Total finance lease cost	$	470

Supplemental Balance Sheet Information Related to Leases

Cash payments made from variable lease costs and short-term leases are not included in the measurement of operating and finance lease liabilities, and as such, are excluded from the supplemental cash flow information stated below. In addition, for the supplemental non-cash information on operating and finance leases, please refer to Note 17 - "Cash Flows."

(in millions)	Fiscal Years Ended March 31, 2020
Cash paid for amounts included in the measurement of:
Operating cash flows from operating leases	$	698
Operating cash flows from finance leases	$	65
Financing cash flows from finance leases	$	576

Supplemental Balance Sheet information related to leases was as follows:

		As of
(in millions)	Balance Sheet Line Item	March 31, 2020
Assets:
ROU operating lease assets	Operating right-of-use assets, net	$	1,428
ROU finance lease assets	Property and Equipment, net	1,220
Total		$	2,648
Liabilities:
Current
Operating lease	Current operating lease liabilities	$	482
Finance lease	Short-term debt and current maturities of long-term debt	444
Total		$	926
Non-current
Operating lease	Non-current operating lease liabilities	$	1,063
Finance lease	Long-term debt, net of current maturities	602
Total		$	1,665

The following table provides information on the weighted average remaining lease term and weighted average discount rate for operating and finance leases:

Weighted average remaining lease term:	Years
Operating leases	4.8
Finance leases	2.7
Weighted average remaining discount rate:	Rate
Operating leases	4.0	%
Finance leases	6.4	%

Maturities of Lease Liabilities

The following maturity analysis presents expected undiscounted cash payments for operating and finance leases on an annual basis as of March 31, 2020:

Fiscal year	Operating Leases
(in millions)	Real Estate		Equipment		Finance Leases
2021	$	429	$	79	$	464
2022	330		41		339
2023	255		19		195
2024	189		11		81
2025	121		4		16
Thereafter	211		10		—
Total lease payments	1,535		164		1,095
Less: imputed interest	145		9		49
Total payments	$	1,390	$	155	$	1,046

Maturities of Lease Liabilities

The following maturity analysis presents expected undiscounted cash payments for operating and finance leases on an annual basis as of March 31, 2020:

Fiscal year	Operating Leases
(in millions)	Real Estate		Equipment		Finance Leases
2021	$	429	$	79	$	464
2022	330		41		339
2023	255		19		195
2024	189		11		81
2025	121		4		16
Thereafter	211		10		—
Total lease payments	1,535		164		1,095
Less: imputed interest	145		9		49
Total payments	$	1,390	$	155	$	1,046

Future Minimum Fixed Rental Under Operating Leases

Prior to fiscal 2020, required disclosure under ASC 840 for minimum fixed rentals under operating leases that have initial or remaining terms in excess of one year at March 31, 2019, was as follows:

Fiscal year	Operating Leases
(in millions)	Real Estate			Equipment
2020	$	409		$	248
2021	288			119
2022	203			27
2023	159			4
2024	124			1
Thereafter	274			—
Minimum fixed rentals	1,457			399
Less: sublease rental income	(149		)	—
Total rental payments	$	1,308		$	399

Future Minimum Lease Payments to be Made Under Finance Leases

Prior to fiscal 2020, required disclosure under ASC 840 for future minimum lease payments to be made under finance leases as of March 31, 2019, was as follows:

Fiscal year
(in millions)	Finance Leases
2020	$	509
2021	310
2022	212
2023	128
2024	36
Thereafter	—
Total minimum lease payments	1,195
Less: interest and executory costs	(68		)
Present value of net minimum lease payments	$	1,127