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INTEREST AND OTHER, NET
 9 Months Ended
Dec. 31, 2020
Other Income and Expenses [Abstract]  
INTEREST AND OTHER, NET INTEREST AND OTHER, NET 
Interest and other, net for the three and nine-month periods ended December 31, 2020 and December 31, 2019 are primarily composed of the following:
 Three-Month Periods EndedNine-Month Periods Ended
 December 31, 2020December 31, 2019December 31, 2020December 31, 2019
 (In millions)
Interest expenses on debt obligations (1)$40 $35 $111 $114 
ABS and AR sales programs related expenses2 11 9 35 
Interest income(4)(5)(10)(15)
Gain on foreign exchange transactions(3)(3)(8)(7)
Equity in (earnings) losses (2)(49)(1)(64)5 
Investment impairment (3)20 16 21 23 

(1)Interest expense on debt obligations for the three and nine-month periods ended December 31, 2019 include debt extinguishment costs of $0.8 million and $7.2 million, respectively, related to the full repayments of the Notes due February 2020 and the Term Loan due November 2021. There were immaterial debt extinguishment costs incurred during fiscal year 2021 from the repayment of the term loan due June 2022.
(2)Represents (gains) losses on strategic investments in privately held companies accounted under equity method. During the three and nine-month periods ended December 31, 2020, the Company recognized equity in earnings of $49.0 million and $63.6 million, respectively, driven by unrealized gains of $44.0 million and $55.2 million, respectively, from the value increase in certain investment funds.

(3)During the three-month periods ended December 31, 2020, and December 31, 2019, the Company incurred impairment charges of $20.1 million and $15.8 million, respectively, related to a certain investment as a result of the Company’s ongoing assessment of its investment portfolio strategy and conclusion that the carrying amount of its investment was other than temporarily impaired.