BORROWINGS (Tables)

6 Months Ended

Sep. 30, 2023

BORROWINGS

Summary of components of debt

			September 30,		March 31,
(Dollars in millions)	Interest Rate	Maturity	2023		2023
Unsecured floating-rate term loan	6.55%*	November 2024	$	500	$	500
Commercial loan agreement	3.00%	July 2026		82		96
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 **	5.03%	2023-2028		278		242
			$	3,260	$	3,238
Less: Unamortized discount				4		5
Less: Unamortized debt issuance costs				12		13
Less: Current maturities of long-term debt				121		110
Total long-term debt			$	3,123	$	3,111

* Floating rate calculated as of September 30, 2023, using a rate equal to one-month SOFR plus 1.225%. Refer to Note 2 – Accounting Pronouncements for additional information.

** Finance lease obligations presented using the weighted-average interest rate.

Schedule of contractual obligations of long-term debt outstanding

(Dollars in millions)*	Principal
Year ending March 31:
2024 (remaining six months)	$	14
2025		529
2026		29
2027		710
2028		—
Thereafter		1,700
Total	$	2,982

*    Contractual obligations approximate scheduled repayments.