Debt (Tables)

12 Months Ended

Mar. 31, 2014

At March 31, 2014 and 2013, the Company’s debt obligations consisted of the following:



	At March 31,
(in millions)	2014			2013
Revolving credit facility due June 2018	$	—		$	—
5.375% Senior Notes due December 2019	750			750
6.125% Senior Notes due December 2014, net of unamortized premium from fair value hedge of $8 and $19	508			519
2.875% Senior Notes due August 2018	250			—
4.500% Senior Notes due August 2023	250			—
Other indebtedness, primarily capital leases	13			26
Unamortized discount for Senior Notes	(5		)	(5		)
Total debt outstanding	$	1,766		$	1,290
Less the current portion	(514		)	(16		)
Total long-term debt portion	$	1,252		$	1,274

Maturities of outstanding debt

The maturities of outstanding debt are as follows:



	Year Ended March 31,
(in millions)	2015		2016		2017		2018		2019		Thereafter
Amount due	$	514	$	4	$	2	$	1	$	246	$	999

Rates applicable to revolving credit facility

At March 31, 2014 and 2013, there were no outstanding borrowings under the revolving credit facility and, based on the Company’s credit ratings, the rates applicable to the facility at March 31, 2014 and 2013 were as follows:



	At March 31,
	2014		2013
Applicable margin on Base Rate borrowing	0.125	%	0.250	%
Weighted average interest rate on outstanding borrowings	—	%	—	%
Applicable margin on Eurocurrency Rate borrowing	1.000	%	1.100	%
Facility commitment fee	0.125	%	0.150	%

Borrowings outstanding under cash pooling arrangement

At March 31, 2014 and 2013, the borrowings outstanding under this cash pooling arrangement, and changes therein, were as follows:



	At March 31,
(in millions)	2014			2013
Total borrowings outstanding at beginning of year ⁽¹⁾	$	136		$	139
Borrowings	3,702			1,143
Repayments	(3,734		)	(1,139		)
Foreign currency exchange effect	35			(7		)
Total borrowings outstanding at end of year ⁽¹⁾	$	139		$	136


(1)	Included in “Accrued expenses and other current liabilities” in the Company’s Consolidated Balance Sheets.