Discontinued Operations (Tables)

9 Months Ended

Dec. 31, 2015

Discontinued Operations and Disposal Groups [Abstract]

Summary of results from discontinued operations and summary of carrying amounts of major classes of assets and liabilities included as part of discontinued 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.