FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Dec. 31, 2020

Derivative Instruments and Hedges, Assets [Abstract]

Summary of aggregate notional amount of the Company's outstanding foreign currency forward and swap contracts

As of December 31, 2020, the aggregate notional amount of the Company’s outstanding foreign currency derivative contracts was $9.5 billion as summarized below: 

	Foreign Currency Amount		Notional Contract Value in USD
Currency	Buy	Sell	Buy		Sell
	(In millions)
Cash Flow Hedges
CNY	2,751	—	$	421	$	—
HUF	33,062	—	111		—
JPY	33,525	—	300		—
MXN	5,133	—	258		—
MYR	389	44	96		11
Other	N/A	N/A	219		67
			1,405		78
Other Foreign Currency Contracts
BRL	—	646	—		125
CAD	128	112	100		87
CNY	3,178	391	482		60
EUR	2,025	2,113	2,473		2,580
GBP	55	78	74		105
HUF	63,519	63,796	213		214
ILS	571	150	177		47
MXN	6,882	5,519	346		277
MYR	671	291	165		72
SEK	393	455	47		55
Other	N/A	N/A	219		143
			4,296		3,765
Total Notional Contract Value in USD			$	5,701	$	3,843

Schedule of fair value of the derivative instruments utilized for foreign currency risk management purposes

The following table presents the fair value of the Company’s derivative instruments utilized for foreign currency risk management purposes:

	Fair Values of Derivative Instruments
	Asset Derivatives					Liability Derivatives
		Fair Value					Fair Value
	Balance Sheet Location	December 31, 2020		March 31, 2020		Balance Sheet Location	December 31, 2020		March 31, 2020
	(In millions)
Derivatives designated as hedging instruments
Foreign currency contracts	Other current assets	$	53	$	7	Other current liabilities	$	8	$	47
Foreign currency contracts	Other assets	$	23	$	14	Other liabilities	$	—	$	—
Derivatives not designated as hedging instruments
Foreign currency contracts	Other current assets	$	32	$	83	Other current liabilities	$	31	$	103