ACCUMULATED OTHER COMPREHENSIVE LOSS

9 Months Ended

Dec. 31, 2021

Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract]

The changes in accumulated other comprehensive loss by component, net of tax, are as follows:


	Three-Month Periods Ended
	December 31, 2021						December 31, 2020
	Unrealized loss on derivative instruments and other		Foreign currency translation adjustments		Total		Unrealized loss on derivative instruments and other		Foreign currency translation adjustments		Total
	(In millions)
Beginning balance	$	(49)	$	(88)	$	(137)	$	(45)	$	(88)	$	(133)
Other comprehensive gain (loss) before reclassifications	(27)		(14)		(41)		43		42		85
Net (gains) losses reclassified from accumulated other comprehensive loss	14		6		20		(14)		—		(14)
Net current-period other comprehensive gain (loss)	(13)		(8)		(21)		29		42		71
Ending balance	$	(62)	$	(96)	$	(158)	$	(16)	$	(46)	$	(62)


	Nine-Month Periods Ended
	December 31, 2021						December 31, 2020
	Unrealized loss on derivative instruments and other		Foreign currency translation adjustments		Total		Unrealized loss on derivative instruments and other		Foreign currency translation adjustments		Total
	(In millions)
Beginning balance	$	(42)	$	(77)	$	(119)	$	(82)	$	(133)	$	(215)
Other comprehensive gain (loss) before reclassifications	(20)		(24)		(44)		73		87		160
Net (gains) losses reclassified from accumulated other comprehensive loss	—		5		5		(7)		—		(7)
Net current-period other comprehensive gain (loss)	(20)		(19)		(39)		66		87		153
Ending balance	$	(62)	$	(96)	$	(158)	$	(16)	$	(46)	$	(62)

Substantially all unrealized losses and gains relating to derivative instruments and other, reclassified from accumulated other comprehensive loss for the three and nine-month periods ended December 31, 2021 were recognized as a component of cost of sales in the condensed consolidated statement of operations, which primarily relate to the Company’s foreign currency contracts accounted for as cash flow hedges.