Other Financial Statement Details

6 Months Ended

Sep. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Accounts Receivable

Accounts receivable consists of the following (in millions):



	September 30,		March 31,
	2019		2019
Trade accounts receivable	$	844.0	$	875.8
Other	7.9		6.8
Total accounts receivable, gross	851.9		882.6
Less allowance for doubtful accounts	3.3		2.0
Total accounts receivable, net	$	848.6	$	880.6

Inventories

The components of inventories consist of the following (in millions):



	September 30,		March 31,
	2019		2019
Raw materials	$	78.1	$	74.5
Work in process	457.0		413.0
Finished goods	199.1		224.2
Total inventories	$	734.2	$	711.7

Inventories are valued at the lower of cost and net realizable value using the first-in, first-out method. Inventory impairment charges establish a new cost basis for inventory and charges are not subsequently reversed to income even if circumstances later suggest that increased carrying amounts are recoverable.

Property, Plant and Equipment

Property, plant and equipment consists of the following (in millions):



	September 30,		March 31,
	2019		2019
Land	$	83.4	$	83.4
Building and building improvements	653.0		647.6
Machinery and equipment	2,128.0		2,095.5
Projects in process	113.6		119.2
Total property, plant and equipment, gross	2,978.0		2,945.7
Less accumulated depreciation and amortization	2,041.0		1,949.0
Total property, plant and equipment, net	$	937.0	$	996.7

Depreciation expense attributed to property, plant and equipment was $39.5 million and $85.7 million for the three and six months ended September 30, 2019, respectively, compared to $47.2 million and $85.2 million for the three and six months ended September 30, 2018, respectively.

Accrued Liabilities

Accrued liabilities consists of the following (in millions):



	September 30,		March 31,
	2019		2019
Accrued compensation and benefits	$	166.3	$	133.2
Income taxes payable	48.6		46.9
Sales related reserves	326.5		366.9
Current portion of lease liabilities	40.5		—
Accrued expenses and other liabilities	218.6		240.3
Total accrued liabilities	$	800.5	$	787.3