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REVENUE
 9 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE 
Contract Balances
A contract asset is recognized when the Company has recognized revenue, but not issued an invoice for payment. Contract assets are classified separately on the condensed consolidated balance sheets and transferred to receivables when rights to payment become unconditional and invoiced.
A contract liability is recognized when the Company receives payments in advance of the satisfaction of performance. Contract liabilities, identified as deferred revenue, were $755 million and $885 million as of December 31, 2023 and March 31, 2023, respectively, of which $626 million and $795 million, respectively, is included in deferred revenue and customer working capital advances under current liabilities.
Disaggregation of Revenue
The following table presents the Company’s revenue disaggregated based on timing of transfer, point in time or over time, for the three and nine-month periods ended December 31, 2023 and December 31, 2022, respectively.
Three-Month Periods EndedNine-Month Periods Ended
December 31, 2023December 31, 2022December 31, 2023December 31, 2022
Timing of Transfer(In millions)
FAS
Point in time$3,152 $3,812 $9,868 $11,378 
Over time314 217 817 646 
Total 3,466 4,029 10,685 12,024 
FRS
Point in time2,793 3,038 9,069 8,938 
Over time163 187 492 555 
Total 2,956 3,225 9,561 9,493 
Nextracker
Point in time6 8 33 41 
Over time704 508 1,730 1,343 
Total710 516 1,763 1,384 
Intersegment eliminations
Point in time(29)(14)(99)(32)
Over time— — — — 
Total(29)(14)(99)(32)
Flex
Point in time5,922 6,844 18,871 20,325 
Over time1,181 912 3,039 2,544 
Total $7,103 $7,756 $21,910 $22,869