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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities:      
Net income $ 1,245 $ 1,033 $ 940
Net income 1,006 793 936
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation 431 414 409
Amortization and other impairment charges    106 87 75
Provision for doubtful accounts 9 3 (3)
Other non-cash income (25) (44) (54)
Non-cash lease expense 139 131 130
Stock-based compensation 152 133 91
Deferred income taxes (480) (192) (44)
Changes in operating assets and liabilities, net of acquisitions:      
Accounts receivable 380 (388) 624
Contract assets (41) (27) (226)
Inventories 1,105 (974) (2,655)
Other current and noncurrent assets (297) (55) (295)
Accounts payable (986) (341) 969
Other current and noncurrent liabilities (412) 1,170 1,067
Net cash provided by operating activities 1,326 950 1,024
Cash flows from investing activities:      
Purchases of property and equipment (530) (635) (443)
Proceeds from the disposition of property and equipment           25 20 11
Acquisitions of businesses, net of cash acquired 0 2 (539)
Proceeds from divestiture of businesses, net of cash held in divested businesses 12 2 9
Other investing activities, net 1 7 11
Net cash used in investing activities (492) (604) (951)
Cash flows from financing activities:      
Proceeds from bank borrowings and long-term debt 2 718 759
Repayments of bank borrowings and long-term debt (409) (1,024) (284)
Payments for repurchases of ordinary shares (1,298) (337) (686)
Proceeds from issuances of Nextracker shares 552 694 0
Payment for pre-IPO dividend to redeemable noncontrolling interest 0 (22) 0
Payment for purchase of Nextracker LLC units from TPG (57) 0 0
Proceeds from sale of subsidiary's redeemable preferred units 0 0 488
Capital reduction from Nextracker spin off (368) 0 0
Other financing activities, net (78) (27) 3
Net cash (used in) provided by financing activities (1,656) 2 280
Effect of exchange rates on cash 2 (18) (26)
Net (decrease) increase in cash and cash equivalents (820) 330 327
Cash and cash equivalents, beginning of year 3,294 2,964 2,637
Cash and cash equivalents, end of year $ 2,474 $ 3,294 $ 2,964