FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES (Tables)

12 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of financial assets and liabilities measured at fair value on a recurring basis

The following table presents the Company's assets and liabilities measured at fair value on a recurring basis as of March 31, 2022 and 2021:

	Fair Value Measurements as of March 31, 2022
	Level 1		Level 2		Level 3		Total
	(In millions)
Assets:
Money market funds and time deposits (Note 2)	$	—	$	2,285	$	—	$	2,285
Foreign currency contracts (Note 10)	—		43		—		43
Deferred compensation plan assets:
Mutual funds, money market accounts and equity securities	—		39		—		39
Liabilities:
Foreign currency contracts (Note 10)	$	—	$	(122)	$	—	$	(122)

	Fair Value Measurements as of March 31, 2021
	Level 1		Level 2		Level 3		Total
	(In millions)
Assets:
Money market funds and time deposits (Note 2)	$	—	$	1,507	$	—	$	1,507
Foreign currency contracts (Note 10)	—		59		—		59
Deferred compensation plan assets:
Mutual funds, money market accounts and equity securities	—		48		—		48
Liabilities:
Foreign currency contracts (Note 10)	$	—	$	(48)	$	—	$	(48)

Schedule of liabilities not carried at fair value

The following table presents the Company's major debts not carried at fair value as of March 31, 2022 and 2021:

	As of March 31, 2022				As of March 31, 2021
	Carrying Amount		Fair Value		Carrying Amount		Fair Value		Fair Value Hierarchy
	(In millions)				(In millions)
5.000% Notes due February 2023	$	500	$	511	$	500	$	537	Level 1
Term Loan due April 2024 - three-month TIBOR plus 0.43%	273		273		305		305		Level 2
4.750% Notes due June 2025	598		615		598		670		Level 1
3.750% Notes due February 2026	690		690		694		756		Level 1
4.875% Notes due June 2029	659		687		661		756		Level 1
4.875% Notes due May 2030	690		713		694		800		Level 1
Euro Term Loans	389		389		168		168		Level 2
3.600% HUF Bonds due December 2031	301		301		—		—		Level 2
India Facilities	84		84		133		133		Level 2