BORROWINGS (Tables)

9 Months Ended

Dec. 31, 2022

BORROWINGS

Summary of components of debt

			December 31,		March 31,
(Dollars in millions)	Interest Rate	Maturity	2022		2022
Unsecured floating-rate term loan	5.42%*	November 2024	$	500	$	500
Commercial loan agreement	3.00%	July 2026		102		123
Unsecured senior notes due 2026	2.05%	October 2026		700		700
Unsecured senior notes due 2028	2.70%	October 2028		500		500
Unsecured senior notes due 2031	3.15%	October 2031		650		650
Unsecured senior notes due 2041	4.10%	October 2041		550		550
Finance lease obligations **	2.29%	2023-2027		216		219
			$	3,218	$	3,242
Less: Unamortized discount				5		5
Less: Unamortized debt issuance costs				13		15
Less: Current maturities of long-term debt				103		96
Total long-term debt			$	3,097	$	3,127

* Floating rate calculated as of December 31, 2022, using a rate equal to one-month U.S. dollar LIBOR plus 1.125%.

** Finance lease obligations presented using the weighted-average interest rate and calendar-year maturity dates.

Schedule of contractual obligations of long-term debt outstanding

(Dollars in millions)*	Principal
Year ending March 31:
2023 (remaining three months)	$	7
2024		28
2025		529
2026		29
2027		710
Thereafter		1,700
Total	$	3,002

*    Contractual obligations approximate scheduled repayments.