Debt (Tables)

12 Months Ended

Mar. 31, 2017

At March 31, 2017 and 2016, the Company’s debt obligations consisted of the following:



	At March 31,
(in millions)	2017			2016
Revolving credit facility	$	—		$	—
2.875% Senior Notes due August 2018	250			250
5.375% Senior Notes due December 2019	750			750
3.600% Senior Notes due August 2020	400			400
3.600% Senior Notes due August 2022	500			—
4.500% Senior Notes due August 2023	250			250
4.700% Senior Notes due March 2027	350			—
Term Loan due April 2022	300			300
Other indebtedness, primarily capital leases	8			15
Unamortized debt issuance costs	(14		)	(8		)
Unamortized discount for Senior Notes	(3		)	(4		)
Total debt outstanding	$	2,791		$	1,953
Less the current portion	(18		)	(6		)
Total long-term debt portion	$	2,773		$	1,947

The maturities of outstanding debt are as follows:

Based on the Company’s credit ratings, the rates applicable to the facility at March 31, 2017 and 2016 were as follows:



	At March 31,
	2017		2016
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	%

At March 31, 2017 and 2016, the borrowings outstanding under this notional pooling arrangement, and changes therein, were as follows:



	At March 31,
(in millions)	2017			2016
Total borrowings outstanding at beginning of year ⁽¹⁾	$	139		$	138
Borrowings	2,374			3,899
Repayments	(2,351		)	(3,877		)
Foreign exchange effect	(25		)	(21		)
Total borrowings outstanding at end of year ⁽¹⁾	$	137		$	139


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