Debt (Tables)

12 Months Ended

Mar. 31, 2015

At March 31, 2015 and 2014, the Company’s debt obligations consisted of the following:



	At March 31,
(in millions)	2015			2014
Revolving credit facility	$	—		$	—
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 at March 31, 2014	—			508
2.875% Senior Notes due August 2018	250			250
4.500% Senior Notes due August 2023	250			250
Other indebtedness, primarily capital leases	17			13
Unamortized discount for Senior Notes	(4		)	(5		)
Total debt outstanding	$	1,263		$	1,766
Less the current portion	(10		)	(514		)
Total long-term debt portion	$	1,253		$	1,252

Maturities of outstanding debt

The maturities of outstanding debt are as follows:



	Year Ended March 31,
(in millions)	2016		2017		2018		2019		2020		Thereafter
Amount due	$	10	$	5	$	1	$	250	$	748	$	249

Rates applicable to revolving credit facility

At March 31, 2015 and 2014, 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, 2015 and 2014 were as follows:



	At March 31,
	2015		2014
Applicable margin on Base Rate borrowing	0.125	%	0.125	%
Weighted average interest rate on outstanding borrowings	—	%	—	%
Applicable margin on Eurocurrency Rate borrowing	1.000	%	1.000	%
Facility commitment fee	0.125	%	0.125	%

Notional pooling arrangement

At March 31, 2015 and 2014, the borrowings outstanding under this notional pooling arrangement, and changes therein, were as follows:



	At March 31,
(in millions)	2015			2014
Total borrowings outstanding at beginning of year ⁽¹⁾	$	139		$	136
Borrowings	5,371			3,702
Repayments	(5,207		)	(3,734		)
Foreign exchange effect	(165		)	35
Total borrowings outstanding at end of year ⁽¹⁾	$	138		$	139


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