XML 24 R10.htm IDEA: XBRL DOCUMENT v3.21.2
BALANCE SHEET ITEMS
 3 Months Ended
Jul. 02, 2021
Balance Sheet Related Disclosures [Abstract]  
BALANCE SHEET ITEMS BALANCE SHEET ITEMS 
Inventories 
The components of inventories, net of applicable lower of cost and net realizable value write-downs, were as follows: 
As of July 2, 2021As of March 31, 2021
 (In millions)
Raw materials$3,344 $2,831 
Work-in-progress454 459 
Finished goods646 605 
 $4,444 $3,895 
Goodwill and Other Intangible Assets 
During the three-month period ended July 2, 2021, there was no activity in the Company's goodwill account for each of its reporting units, other than foreign currency translation adjustments of $3.0 million and $1.0 million, which impacted its Automotive and Health Solutions reporting units, respectively. 
The components of acquired intangible assets are as follows:
 As of July 2, 2021As of March 31, 2021
Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount		Gross
Carrying
Amount		Accumulated
Amortization		Net
Carrying
Amount
 (In millions)
Intangible assets:      
Customer-related intangibles$278 $(163)$115 $276 $(154)$122 
Licenses and other intangibles250 (166)84 250 (159)91 
Total$528 $(329)$199 $526 $(313)$213 

The gross carrying amounts of intangible assets are removed when fully amortized. The estimated future annual amortization expense for intangible assets is as follows:
Fiscal Year Ending March 31,Amount
 (In millions)
2022 (1)$39 
202346 
202445 
202540 
202618 
Thereafter11 
Total amortization expense$199 
____________________________________________________________
(1)Represents estimated amortization for the remaining fiscal nine-month period ending March 31, 2022. 
Other Current Liabilities
Other current liabilities include customer working capital advances of $564.9 million and $471.5 million, customer-related accruals of $245.4 million and $242.0 million, and current operating lease liabilities of $129.6 million and $127.6 million as of July 2, 2021 and March 31, 2021, respectively. The customer working capital advances are not interest-bearing, do not have fixed repayment dates and are generally reduced as the underlying working capital is consumed in production.