Leases, Codification Topic 842 (Tables)

12 Months Ended

Mar. 31, 2021

The components of lease expenses for the fiscal years ended March 31, 2021 and 2020 are as follows (in millions):


	Year Ended March 31,
	2021		2020
Operating lease costs	$	87	$	70
Variable lease costs	21		37
Short-term lease costs	2		14
Total lease expense	$	110	$	121

Supplemental cash and noncash information related to our operating leases for the fiscal years ended March 31, 2021 and 2020 are as follows (in millions):


	Year Ended March 31,
	2021		2020
Cash paid for amounts included in the measurement of lease liability	$	85	$	69
ROU assets obtained in exchange for new lease obligations	$	90	$	52

Weighted average remaining lease term and discount rate at March 31, 2021 and 2020 are as follows:


	At March 31, 2021		At March 31, 2020
Lease term	7.2 years		4.5 years
Discount rate	2.7	%	3.2	%

AssetsandLiabilitiesLesseeTableTextBlock

Operating lease ROU assets and liabilities recorded on our Consolidated Balance Sheets as of March 31, 2021 and 2020 are as follows (in millions):


	As of March 31,				Balance Sheet Classification
	2021		2020
Operating lease ROU assets	$	242	$	193	Other assets

Operating lease liabilities	$	76	$	69	Accrued and other current liabilities
Noncurrent operating lease liabilities	202		155		Other liabilities
Total operating lease liabilities	$	278	$	224

Schedule of Future Minimum Rental Payments for Operating Leases

Future minimum lease payments under operating leases as of March 31, 2021 were as follows (in millions):


Fiscal Years Ending March 31,
2022	$	56
2023	72
2024	42
2025	34
2026	27
Thereafter	77
Total future lease payments	308
Less imputed interest	(30)
Total operating lease liabilities	$	278