Restructuring Activities

9 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

RESTRUCTURING ACTIVITIES

In fiscal year 2023, we announced a restructuring plan (the “2023 Restructuring Plan” or the “Plan”) focused on prioritizing investments to our growth opportunities and optimizing our real estate portfolio. The Plan included actions driven by portfolio rationalization including headcount reductions, in addition to office space reductions. The actions associated with the Plan were substantially completed by September 30, 2023.

Since the inception of the 2023 Restructuring Plan through December 31, 2023, we have incurred net charges of $158 million, and we do not expect to incur any additional restructuring charges under this plan.

Restructuring activities as of December 31, 2023 were as follows (in millions):


	Acquisition-Related Intangibles Impairments and Other Charges (a)		Workforce (a)		Office Space Reductions (b)		Total
Charges to operations	$	68	$	43	$	44	$	155
Charges settled in cash	—		(10)		—		(10)
Non-cash items	(66)		—		(44)		(110)
Liability as of March 31, 2023	$	2	$	33	$	—	$	35
Charges to operations	—		3		—		3
Charges settled in cash	(2)		(35)		—		(37)

Liability as of December 31, 2023	$	—	$	1	$	—	$	1
(a) Charges are recorded within Restructuring in the Condensed Consolidated Statement of Operations. (b) Charges are recorded within General and administrative expenses in the Condensed Consolidated Statement of Operations.

The restructuring liability of $1 million as of December 31, 2023, is included in accrued and other current liabilities on the Condensed Consolidated Balance Sheets.