Fair Value (Tables)

12 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

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 15 - "Pension and Other Benefit Plans" and Note 9 - "Derivative Instruments" for information about these excluded assets and liabilities. There were no transfers between any of the levels during the periods presented.

			Fair Value Hierarchy
(in millions)	As of March 31, 2021
Assets:	Fair Value		Level 1		Level 2		Level 3
Money market funds and money market deposit accounts	$	12	$	12	$	—	$	—
Time deposits(1)	78		78		—		—
Other securities(2)	57		—		55		2
Total assets	$	147	$	90	$	55	$	2
Liabilities:
Contingent consideration	$	27	$	—	$	—	$	27
Total liabilities	$	27	$	—	$	—	$	27

(in millions)	As of March 31, 2020
Assets:	Fair Value		Level 1		Level 2		Level 3
Money market funds and money market deposit accounts	$	156	$	156	$	—	$	—
Time deposits(1)	595		595		—		—
Other debt securities(2)	51		—		48		3
Deferred purchase price receivable	103		—		—		103
Total assets	$	905	$	751	$	48	$	106
Liabilities:
Contingent consideration	$	46	$	—	$	—	$	46
Total Liabilities	$	46	$	—	$	—	$	46

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

(2) Other securities include available-for-sale equity security investments with Level 2 inputs that have a cost basis of $57 million and $37 million, and (losses)/gains of $(2) million and $11 million, as of March 31, 2021 and March 31, 2020, respectively, included in other expense (income), net in the Company’s statements of operations. During the third quarter of fiscal 2021, previously held investments were sold and the proceeds were used to purchase new investments. The gain of $17 million from the sale was included in other expense (income), net.