REVENUE RECOGNITION (Tables)

6 Months Ended

Sep. 30, 2023

REVENUE RECOGNITION

Schedule of reconciliation of contract balances

	September 30,		March 31,
(Dollars in millions)	2023		2023
Accounts receivable (net of allowances for credit losses of $28 at September 30, 2023 and $32 at March 31, 2023) *	$	1,663	$	1,523
Contract assets **		35		30
Deferred income (current)		790		820
Deferred income (noncurrent)		316		362

* Including unbilled receivable balances of $458 million at September 30, 2023 and $384 million at March 31, 2023.

** Contract assets represent goods or services delivered by the Company, which give the Company the right to consideration that is typically subject to milestone completion or client acceptance and are included within prepaid expenses and other current assets in the Consolidated Balance Sheet.

Schedule of notes and accounts receivable - trade allowance for credit losses

	Six Months Ended September 30,
(Dollars in millions)	2023		2022
Beginning balance	$	32	$	44
Additions (releases)		—		2
Write-offs		(3)		(5)
Other *		(1)		(7)
Ending balance	$	28	$	33

* Primarily represents currency translation adjustments.

Schedule of capitalized costs to acquire and fulfill customer contracts

	September 30,		March 31,
(Dollars in millions)	2023		2023
Deferred transition costs	$	778	$	856
Prepaid software costs		705		782
Capitalized costs to fulfill contracts		219		285
Capitalized costs to obtain contracts		281		313
Total deferred costs *	$	1,983	$	2,236

* Of the total deferred costs, $952 million was current and $1,031 million was noncurrent at September 30, 2023, and $1,070 million was current and $1,166 million was noncurrent at March 31, 2023.