Derivatives, Hedging Activities and Interest Expense (Tables)

12 Months Ended

Mar. 31, 2023

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:

	March 31, 2023					March 31, 2022
			Fair					Fair
	Notional		value			Notional		value
Other assets:
Interest rate swaps	$	56,799	$	1,888		$	64,327	$	1,425
Foreign currency swaps		1,237		49			1,594		55
Total	$	58,036	$	1,937		$	65,921	$	1,480
Counterparty netting				(659	)				(761	)
Collateral held				(1,227	)				(658	)
Carrying value of derivative contracts – Other assets			$	51				$	61
Other liabilities:
Interest rate swaps	$	46,082	$	468		$	19,903	$	822
Foreign currency swaps		6,447		1,002			8,102		717
Total	$	52,529	$	1,470		$	28,005	$	1,539
Counterparty netting				(659	)				(761	)
Collateral posted				(794	)				(753	)
Carrying value of derivative contracts – Other liabilities			$	17				$	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:

	Years Ended March 31,
	2023			2022			2021
Interest expense on debt	$	2,919		$	1,498		$	1,954
Interest (income) expense on derivatives		(569	)		107			420
Interest expense on debt and derivatives		2,350			1,605			2,374
(Gains) losses on debt denominated in  foreign currencies		(614	)		(438	)		1,402
Losses (gains) on foreign currency swaps		805			818			(1,351	)
Losses (gains) on U.S. dollar interest rate swaps		513			(584	)		(123	)
Total interest expense	$	3,054		$	1,401		$	2,302