Derivatives, Hedging Activities and Interest Expense (Tables)

9 Months Ended

Dec. 31, 2022

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Activity Impact on Consolidated Balance Sheet

The following tables show the financial statement line item and amount of our derivative assets and liabilities that are reported on our Consolidated Balance Sheets:

	December 31, 2022					March 31, 2022
			Fair					Fair
	Notional		value			Notional		value
Other assets:
Interest rate swaps	$	66,902	$	2,093		$	64,327	$	1,425
Foreign currency swaps		129		13			1,594		55
Total	$	67,031	$	2,106		$	65,921	$	1,480
Counterparty netting				(809	)				(761	)
Collateral held				(1,243	)				(658	)
Carrying value of derivative contracts – Other assets			$	54				$	61
Other liabilities:
Interest rate swaps	$	33,198	$	779		$	19,903	$	822
Foreign currency swaps		7,603		1,317			8,102		717
Total	$	40,801	$	2,096		$	28,005	$	1,539
Counterparty netting				(809	)				(761	)
Collateral posted				(1,286	)				(753	)
Carrying value of derivative contracts – Other liabilities			$	1				$	25

Components of Interest Expense

The following table summarizes the components of interest expense, including the location and amount of gains and losses on derivative instruments and related hedged items, as reported in our Consolidated Statements of Income:

	Three months ended						Nine months ended
	December 31,						December 31,
	2022			2021			2022			2021
Interest expense on debt	$	845		$	362		$	1,914		$	1,134
Interest (income) expense on derivatives		(186	)		23			(368	)		137
Interest expense on debt and derivatives		659			385			1,546			1,271
Losses (gains) on debt denominated in  foreign currencies		532			(60	)		(649	)		(338	)
(Gains) losses on foreign currency swaps		(509	)		151			947			509
Losses (gains) on U.S. dollar interest rate swaps		83			(130	)		189			(387	)
Total interest expense	$	765		$	346		$	2,033		$	1,055