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Discontinued Operations
 9 Months Ended
Dec. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations
Discontinued Operations
During the fourth quarter of 2015, we committed to a plan to sell our Brazilian pharmaceutical distribution business and a small business from our Distribution Solutions segment. We acquired the Brazilian distribution business through our February 2014 acquisition of Celesio. The results of operations and cash flows of these businesses are classified as discontinued operations for all periods presented in our condensed consolidated financial statements.
During the fourth quarter of 2015, we recorded $241 million of non-cash pre-tax ($235 million after-tax) impairment charges to reduce the carrying value of this Brazilian distribution business to its estimated fair value, less costs to sell, based on our assessment at that time. The ultimate loss from the sale of this Brazilian distribution business may be different from our current assessment of the business’ fair value. As a result, we may record additional loss upon the disposition of the business within discontinued operations.
During the first quarter of 2015, we decided to retain the workforce business within our International Technology business, which had been classified as a discontinued operation since the time we committed to a plan to sell the International Technology business in the first quarter of 2014. As a result, the workforce business was reclassified to continuing operations effective in the first quarter of 2015 for all periods presented and we recorded a non-cash pre-tax charge of $34 million primarily in cost of sales relating to depreciation and amortization expense for the period in 2014 while the business was classified as held for sale. The workforce business, which provided workforce management solutions for the National Health Service in the United Kingdom, was transitioned to another service provider during the first quarter of 2016.
We completed the sale of a software business within our International Technology business during the second quarter of 2015 and at that time, we recorded a pre-tax and after-tax loss of $6 million within the discontinued operations of our condensed consolidated statements of operations.
A summary of results of discontinued operations is as follows:
 
Quarter Ended December 31,
 
Nine Months Ended December 31,
(In millions)
2015
 
2014
 
2015
 
2014
Revenues
$
381

 
$
523

 
$
1,246

 
$
1,742

Cost of sales
(341
)
 
(479
)
 
(1,123
)
 
(1,565
)
Operating expenses
(36
)
 
(66
)
 
(128
)
 
(214
)
Other income (loss), net
(7
)
 
(4
)
 
(21
)
 
(10
)
Pre-tax loss from discontinued operations
(3
)
 
(26
)
 
(26
)
 
(47
)
Loss on sale
—

 
—

 
—

 
(6
)
Income tax benefit
8

 
16

 
15

 
21

Loss from discontinued operations, net of tax
$
5

 
$
(10
)
 
$
(11
)
 
$
(32
)

A summary of carrying amounts of major classes of assets and liabilities included as part of discontinued operations is as follows:
 
 December 31,
 
March 31,
(In millions)
2015
 
2015
Receivables, net
$
255

 
$
314

Inventories, net
241

 
254

Other assets
86

 
92

Total assets of discontinued operations (1)
582

 
660

Drafts and account payable
247

 
209

Short-term borrowings
100

 
126

Other liabilities
248

 
328

Total liabilities of discontinued operations (1)
$
595

 
$
663

(1) Assets and liabilities of discontinued operations are included under the captions “Prepaid expenses and other” and “Other accrued liabilities” within our condensed consolidated balance sheets.