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RESTRUCTURING CHARGES
12 Months Ended
Mar. 31, 2024
Restructuring Charges [Abstract]  
RESTRUCTURING CHARGES RESTRUCTURING CHARGES
Fiscal Year 2024
During fiscal year 2024, the Company committed to targeted restructuring activities to improve operational efficiency by reducing excess workforce capacity. As a result, the Company recognized approximately $175 million of restructuring charges, most of which related to employee severance. Restructuring charges are not included in segment income, as disclosed further in note 21.
Fiscal Year 2023
The Company identified certain structural changes to restructure its business throughout fiscal year 2023. During fiscal year 2023, the Company recognized approximately $27 million of restructuring charges, most of which related to employee severance. Restructuring charges are not included in segment income.
Fiscal Year 2022
The Company identified certain structural changes to restructure its business throughout fiscal year 2022. During fiscal year 2022, the Company recognized approximately $15 million of restructuring charges, most of which related to employee severance. Restructuring charges are not included in segment income.
The following table summarizes the provisions for charges incurred, respective payments for the fiscal years ended March 31, 2024, 2023, and 2022, respectively, and remaining accrued balances as of the same periods:
SeveranceLong-Lived
Asset
Impairment
Other
Exit Costs
Total
(In millions)
Balance as of March 31, 2021$45 $— $$53 
Provision for charges incurred in fiscal year 202211 15 
Cash payments for charges incurred in fiscal year 2021 and prior(15)— — (15)
Cash payments for charges incurred in fiscal year 2022(6)— — (6)
Non-cash reductions incurred in fiscal year 2022— (1)(3)(4)
Balance as of March 31, 202235 — 43 
Provision for charges incurred in fiscal year 202327 — — 27 
Cash payments for charges incurred in fiscal year 2022 and prior(7)— — (7)
Cash payments for charges incurred in fiscal year 2023(11)— — (11)
Non-cash reductions incurred in fiscal year 2023— — (2)(2)
Balance as of March 31, 202344 — 50 
Provision for charges incurred in fiscal year 2024161 14 — 175 
Cash payments for charges incurred in fiscal year 2023 and prior(13)— — (13)
Cash payments for charges incurred in fiscal year 2024(115)— — (115)
Non-cash reductions incurred in fiscal year 2024— (14)(3)(17)
Balance as of March 31, 202477 — 80 
Less: Current portion (classified as other current liabilities)76 — 79 
Accrued restructuring costs, net of current portion (classified as other non-current liabilities)$$— $— $