ACCUMULATED OTHER COMPREHENSIVE LOSS

9 Months Ended

Dec. 31, 2022

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, 2022						December 31, 2021
	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	$	(73)	$	(279)	$	(352)	$	(49)	$	(88)	$	(137)
Other comprehensive gains (loss) before reclassifications	77		80		157		(27)		(14)		(41)
Net (gains) loss reclassified from accumulated other comprehensive loss	(49)		—		(49)		14		6		20
Net current-period other comprehensive gains (loss)	28		80		108		(13)		(8)		(21)
Ending balance	$	(45)	$	(199)	$	(244)	$	(62)	$	(96)	$	(158)


	Nine-Month Periods Ended
	December 31, 2022						December 31, 2021
	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	$	(66)	$	(116)	$	(182)	$	(42)	$	(77)	$	(119)
Other comprehensive loss before reclassifications	(72)		(83)		(155)		(20)		(24)		(44)
Net gains reclassified from accumulated other comprehensive loss	93		—		93		—		5		5
Net current-period other comprehensive gains (loss)	21		(83)		(62)		(20)		(19)		(39)
Ending balance	$	(45)	$	(199)	$	(244)	$	(62)	$	(96)	$	(158)

Substantially all unrealized gains and losses relating to derivative instruments and other, reclassified from accumulated other comprehensive loss for the three and nine-month periods ended December 31, 2022 were reclassified out of accumulated other comprehensive loss to interest and other, net and 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. The tax impacts on the changes in accumulated other comprehensive loss for the three-month periods ended December 31, 2022 and 2021 were $9 million and $1 million tax benefits, respectively. The tax impacts on the changes in accumulated other comprehensive loss for the nine-month periods ended December 31, 2022 and 2021 were immaterial and $1 million tax benefits, respectively.