SEGMENTS (Tables)

9 Months Ended

Dec. 31, 2023

SEGMENTS

Summary of results of segments

	Three Months Ended December 31,				Nine Months Ended December 31,
(Dollars in millions)	2023		2022		2023		2022
Revenue
United States	$	1,032	$	1,265	$	3,305	$	3,581
Japan		581		606		1,761		1,855
Principal Markets		1,446		1,472		4,395		4,460
Strategic Markets		877		961		2,741		2,874
Total revenue	$	3,936	$	4,303	$	12,202	$	12,771
Segment adjusted EBITDA
United States	$	194	$	271	$	607	$	639
Japan		94		90		278		318
Principal Markets		207		91		560		248
Strategic Markets		144		145		428		352
Total segment adjusted EBITDA	$	640	$	597	$	1,872	$	1,556

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 December 31,				Nine Months Ended December 31,
(Dollars in millions)	2023		2022		2023		2022
Segment adjusted EBITDA	$	640	$	597	$	1,872	$	1,556
Workforce rebalancing charges		(19)		(10)		(115)		(16)
Charges related to ceasing to use leased/fixed assets and lease terminations		(14)		(10)		(24)		(10)
Transaction-related (costs) benefits		77		(48)		(12)		(218)
Stock-based compensation expense		(25)		(29)		(72)		(81)
Interest expense		(31)		(27)		(92)		(65)
Depreciation of property, equipment and capitalized software		(207)		(232)		(639)		(681)
Amortization expense		(322)		(336)		(968)		(945)
Corporate expense not allocated to the segments		(25)		(16)		(71)		(57)
Other adjustments*		(21)		(27)		(42)		(45)
Pretax income (loss)	$	53	$	(138)	$	(165)	$	(563)

* 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) benefits above.