FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Mar. 31, 2021

Derivative Instruments and Hedges, Assets [Abstract]

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

As of March 31, 2021, the aggregate notional amount of the Company's outstanding foreign currency derivative contracts was $8.9 billion as summarized below:

	Foreign Currency Amount		Notional Contract Value in USD
Currency	Buy	Sell	Buy		Sell
	(In millions)
Cash Flow Hedges
CNY	2,895	—	$	441	$	—
HUF	33,969	—	110		—
JPY	33,525	—	300		—
MXN	6,197	—	299
Other	N/A	N/A	282		62
			1,432		62
Other Foreign Currency Contracts
CAD	103	67	82		53
CNY	4,376	1,442	668		220
EUR	1,724	1,892	2,031		2,237
GBP	47	69	65		95
HUF	66,705	64,004	216		207
ILS	422	10	127		3
MXN	6,524	5,362	315		259
MYR	642	297	155		72
PLN	221	190	56		48
SEK	467	541	55		62
Other	N/A	N/A	210		175
			3,980		3,431
Total Notional Contract Value in USD			$	5,412	$	3,493

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 at March 31, 2021 and 2020:

	Fair Values of Derivative Instruments
	Asset Derivatives					Liability Derivatives
		Fair Value					Fair Value
	Balance Sheet Location	March 31, 2021		March 31, 2020		Balance Sheet Location	March 31, 2021		March 31, 2020
	(In millions)
Derivatives designated as hedging instruments
Foreign currency contracts	Other current assets	$	23	$	7	Other current liabilities	$	16	$	47
Foreign currency contracts	Other assets	$	5	$	14	Other liabilities	$	—	$	—
Derivatives not designated as hedging instruments
Foreign currency contracts	Other current assets	$	31	$	83	Other current liabilities	$	32	$	103