SEGMENTS (Tables)

6 Months Ended

Sep. 30, 2023

SEGMENTS

Summary of results of segments

	Three Months Ended September 30,				Six Months Ended September 30,
(Dollars in millions)	2023		2022		2023		2022
Revenue
United States	$	1,108	$	1,149	$	2,272	$	2,317
Japan		569		614		1,180		1,249
Principal Markets		1,465		1,472		2,949		2,988
Strategic Markets		930		944		1,865		1,914
Total revenue	$	4,073	$	4,179	$	8,266	$	8,467
Segment adjusted EBITDA
United States	$	176	$	167	$	412	$	367
Japan		84		113		184		228
Principal Markets		185		57		352		157
Strategic Markets		150		111		283		207
Total segment adjusted EBITDA	$	596	$	448	$	1,232	$	959

Summary of reconciliation of adjusted EBITDA to consolidated pretax income (loss)

The following table reconciles segment adjusted EBITDA to consolidated pretax income (loss):

	Three Months Ended September 30,				Six Months Ended September 30,
(Dollars in millions)	2023		2022		2023		2022
Segment adjusted EBITDA	$	596	$	448	$	1,232	$	959
Workforce rebalancing charges		(39)		(3)		(97)		(6)
Charges related to ceasing to use leased/fixed assets and lease terminations		—		—		(10)		—
Transaction-related costs		(48)		(68)		(89)		(171)
Stock-based compensation expense		(25)		(28)		(48)		(54)
Interest expense		(31)		(19)		(61)		(38)
Depreciation of property, equipment and capitalized software		(220)		(221)		(431)		(449)
Amortization expense		(313)		(301)		(646)		(609)
Corporate expense not allocated to the segments		(21)		(20)		(45)		(40)
Other adjustments*		(7)		(9)		(23)		(18)
Pretax income (loss)	$	(109)	$	(219)	$	(218)	$	(425)

* Other adjustments represent pension expenses other than pension servicing costs and multi-employer plan costs, significant litigation costs, currency impacts of highly inflationary countries, and an adjustment to reduce amortization expense for the amount already included in transaction-related costs above.