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Leases, Codification Topic 842 (Tables)

12 Months Ended

Mar. 31, 2022

The components of lease expenses for the fiscal years ended March 31, 2022, 2021, and 2020 are as follows (in millions):


	Year Ended March 31,
	2022		2021		2020
Operating lease costs	$	98	$	87	$	70
Variable lease costs	21		21		37
Short-term lease costs	2		2		14
Total lease expense	$	121	$	110	$	121

Supplemental cash and noncash information related to our operating leases for the fiscal years ended March 31, 2022, 2021, and 2020 are as follows (in millions):


	Year Ended March 31,
	2022		2021		2020
Cash paid for amounts included in the measurement of lease liability	$	97	$	85	$	69
ROU assets obtained in exchange for new lease obligations	$	150	$	90	$	52

Weighted average remaining lease term and discount rate at March 31, 2022 and 2021 are as follows:


	At March 31, 2022		At March 31, 2021
Lease term	6.8 years		7.2 years
Discount rate	2.5	%	2.7	%

AssetsandLiabilitiesLesseeTableTextBlock

Operating lease ROU assets and liabilities recorded on our Consolidated Balance Sheets as of March 31, 2022 and 2021 are as follows (in millions):


	As of March 31,				Balance Sheet Classification
	2022		2021
Operating lease ROU assets	$	314	$	242	Other assets

Operating lease liabilities	$	81	$	76	Accrued and other current liabilities
Noncurrent operating lease liabilities	272		202		Other liabilities
Total operating lease liabilities	$	353	$	278

Lessee, Operating Lease, Liability, Maturity

Future minimum lease payments under operating leases as of March 31, 2022 were as follows (in millions):


Fiscal Years Ending March 31,
2023	$	86
2024	73
2025	56
2026	46
2027	31
Thereafter	93
Total future lease payments	385
Less imputed interest	(32)
Total operating lease liabilities	$	353