FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedges, Assets [Abstract]

Schedule of aggregate notional amount of the company's outstanding foreign currency forward and swap contracts

As of December 31, 2022, the aggregate notional amount of the Company’s outstanding foreign currency derivative contracts was $11.5 billion as summarized below: 

	Foreign Currency Amount		Notional Contract Value in USD
Currency	Buy	Sell	Buy		Sell
	(In millions)
Cash Flow Hedges
CNY	1,759	—	$	252	$	—
EUR	279	38	281		41
HUF	141,230	—	421		—
ILS	376	—	106		—
JPY	33,525	—	300		—
MXN	7,826	—	403		—
MYR	510	101	115		23
Other	N/A	N/A	138		5
			2,016		69
Other Foreign Currency Contracts
BRL	—	1,060	—		201
CAD	122	72	90		53
CNY	3,917	—	562		—
EUR	2,364	2,527	2,509		2,673
GBP	247	287	297		346
HUF	90,357	77,398	238		204
ILS	645	286	182		81
INR	18,673	406	225		5
MXN	9,654	7,424	497		382
MYR	1,653	786	374		178
PLN	274	214	62		48
Other	N/A	N/A	142		100
			5,178		4,271
Total Notional Contract Value in USD			$	7,194	$	4,340

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:

	Fair Values of Derivative Instruments
	Asset Derivatives					Liability Derivatives
		Fair Value					Fair Value
	Balance Sheet Location	December 31, 2022		March 31, 2022		Balance Sheet Location	December 31, 2022		March 31, 2022
	(In millions)
Derivatives designated as hedging instruments
Foreign currency contracts	Other current assets	$	40	$	22	Other current liabilities	$	28	$	35
Foreign currency contracts	Other assets	$	—	$	—	Other liabilities	$	112	$	61
Derivatives not designated as hedging instruments
Foreign currency contracts	Other current assets	$	37	$	21	Other current liabilities	$	41	$	26