Financial Instruments (Tables)

9 Months Ended

Dec. 31, 2023

Short-term investments consisted of the following as of December 31, 2023 and March 31, 2023 (in millions):


	As of December 31, 2023								As of March 31, 2023
	Cost or Amortized Cost		Gross Unrealized				Fair Value		Cost or Amortized Cost		Gross Unrealized				Fair Value
			Gains		Losses						Gains		Losses
Corporate bonds	$	111	$	—	$	—	$	111	$	114	$	—	$	(1)	$	113
U.S. Treasury securities	95		—		—		95		80		—		—		80
U.S. agency securities	12		—		—		12		25		—		—		25
Commercial paper	82		—		—		82		63		—		—		63
Foreign government securities	5		—		—		5		11		—		—		11
Asset-backed securities	41		—		—		41		37		—		—		37
Certificates of deposit	16		—		—		16		14		—		—		14
Short-term investments	$	362	$	—	$	—	$	362	$	344	$	—	$	(1)	$	343

Fair Value Of Short-Term Investments By Stated Maturity Date Schedule

The following table summarizes the amortized cost and fair value of our short-term investments, classified by stated maturity as of December 31, 2023 and March 31, 2023 (in millions):


	As of December 31, 2023				As of March 31, 2023
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Short-term investments
Due within 1 year	$	267	$	267	$	267	$	266
Due 1 year through 5 years	89		89		72		72
Due after 5 years	6		6		5		5
Short-term investments	$	362	$	362	$	344	$	343