Income Taxes (Tables)

12 Months Ended

Mar. 31, 2018

Income Tax Disclosure [Abstract]

Income from continuing operations before income taxes attributable to domestic and foreign operations

The amounts of income from continuing operations before income taxes attributable to domestic and foreign operations were as follows:

	Year Ended March 31,
(in millions)	2018		2017		2016
Domestic	$	704	$	787	$	729
Foreign	317		286		355
Income from continuing operations before income taxes	$	1,021	$	1,073	$	1,084

Income tax expense (benefit) from continuing operations

Income tax expense (benefit) from continuing operations consisted of the following:

	Year Ended March 31,
(in millions)	2018			2017			2016
Current:
Federal	$	385		$	215		$	285
State	36			30			50
Foreign	85			74			95
Total current	$	506		$	319		$	430
Deferred:
Federal	$	60		$	2		$	(86	)
State	(10		)	(5		)	(20		)
Foreign	(11		)	(18		)	(9		)
Total deferred	$	39		$	(21	)	$	(115	)
Total:
Federal	$	445		$	217		$	199
State	26			25			30
Foreign	74			56			86
Total income tax expense from continuing operations	$	545		$	298		$	315

Schedule of effective income tax rate reconciliation

The income tax expense from continuing operations was reconciled to the tax expense computed at the U.S. federal statutory tax rate as follows:

	Year Ended March 31,
(in millions)	2018			2017			2016
Tax expense at U.S. federal statutory tax rate	$	322		$	376		$	379
Tax Cuts and Jobs Act	290			—			—
Effect of international operations	(61		)	(70		)	(77		)
U.S. federal and state tax contingencies	(2		)	—			8
Domestic manufacturing deduction	(21		)	(23		)	(27		)
State taxes, net of U.S. federal tax benefit	16			16			16
Valuation allowance	(9		)	(16		)	3
Other, net	10			15			13
Income tax expense from continuing operations	$	545		$	298		$	315

Schedule of deferred tax assets and liabilities

The tax effects of the temporary differences from continuing operations were as follows:

	At March 31,
(in millions)	2018			2017
Deferred tax assets:
Modified accrual basis accounting for revenue	$	283		$	364
Share-based compensation	31			41
Accrued expenses	12			11
Net operating losses	125			149
Deductible state tax and interest benefits	10			19
Other	51			62
Total deferred tax assets	$	512		$	646
Valuation allowance	(72		)	(89		)
Total deferred tax assets, net of valuation allowance	$	440		$	557
Deferred tax liabilities:
Purchased software	$	129		$	207
Depreciation	—			3
Other intangible assets	70			116
Internally developed software	5			23
Total deferred tax liabilities	$	204		$	349
Net deferred tax asset	$	236		$	208

Roll-forward of uncertain tax positions

A roll-forward of the Company’s uncertain tax positions for all U.S. federal, state and foreign tax jurisdictions was as follows:

	At March 31,
(in millions)	2018			2017
Balance at beginning of year	$	132		$	143
Additions for tax positions related to the current year	11			13
Additions for tax positions from prior years	25			4
Reductions for tax positions from prior years	(8		)	(9		)
Settlement payments	(16		)	(3		)
Statute of limitations expiration	(16		)	(13		)
Translation and other	5			(3		)
Balance at end of year	$	133		$	132