Pension Benefits (Tables)

12 Months Ended

Mar. 31, 2016

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Schedule of net periodic expense for pension plans

The net periodic expense for our pension plans, which includes net pension expense of Celesio beginning February 2014, is as follows:

	U.S. Plans									Non-U.S. Plans
	Years Ended March 31,									Years Ended March 31,
(In millions)	2016			2015			2014			2016			2015			2014
Service cost - benefits earned during the year	$	4		$	1		$	4		$	20		$	16		$	6
Interest cost on projected benefit obligation	18			19			19			24			34			11
Expected return on assets	(19		)	(21		)	(20		)	(30		)	(30		)	(12		)
Amortization of unrecognized actuarial loss, prior service costs and net transitional obligation	42			19			32			3			3			4
Curtailment/settlement loss (gain)	2			—			—			—			6			(1		)
Net periodic pension expense	$	47		$	18		$	35		$	17		$	29		$	8

The net periodic expense for our postretirement welfare benefits is as follows:

	Years Ended March 31,
(In millions)	2016		2015			2014
Service cost - benefits earned during the year	$	1	$	1		$	2
Interest cost on accumulated benefit obligation	4		5			5
Amortization of unrecognized actuarial gain and prior service credit	—		(4		)	(1		)
Curtailment gain	—		—			(2		)
Net periodic postretirement expense	$	5	$	2		$	4

Schedule of changes in benefit obligations and plan assets for pension plans

Information regarding the changes in benefit obligations and plan assets for our pension plans is as follows:

	U.S. Plans						Non-U.S. Plans
	Years Ended March 31,						Years Ended March 31,
(In millions)	2016			2015			2016			2015
Change in benefit obligations
Benefit obligation at beginning of period (1)	$	583		$	540		$	963		$	934
Service cost	4			1			20			16
Interest cost	18			19			24			34
Actuarial loss (gain)	(13		)	53			(64		)	194
Benefit payments	(54		)	(30		)	(35		)	(49		)
Amendments	—			—			(2		)	(6		)
Expenses paid	(3		)	—			—			—
Foreign exchange impact and other	—			—			(7		)	(160		)
Benefit obligation at end of period (1)	$	535		$	583		$	899		$	963
Change in plan assets
Fair value of plan assets at beginning of period	$	298		$	300		$	612		$	590
Actual return on plan assets	(3		)	16			2			88
Employer and participant contributions	24			12			44			73
Benefits paid	(54		)	(30		)	(35		)	(49		)
Expenses paid	(3		)	—			—			—
Foreign exchange impact and other	—			—			(16		)	(90		)
Fair value of plan assets at end of period	$	262		$	298		$	607		$	612
Funded status at end of period	$	(273	)	$	(285	)	$	(292	)	$	(351	)
Amounts recognized on the balance sheet
Assets	$	—		$	—		$	21		$	—
Current liabilities	(2		)	(17		)	(11		)	(6		)
Long-term liabilities	(271		)	(268		)	(302		)	(345		)
Total	$	(273	)	$	(285	)	$	(292	)	$	(351	)

(1) The benefit obligation is the projected benefit obligation.

Schedule of projected benefit obligation, accumulated benefit obligation and fair value of plan assets for pension plans

The following table provides the projected benefit obligation, accumulated benefit obligation and fair value of plan assets for all our pension plans with an accumulated benefit obligation in excess of plan assets.

	U.S. Plans				Non-U.S. Plans
	March 31,				March 31,
(In millions)	2016		2015		2016		2015
Projected benefit obligation	$	535	$	583	$	899	$	963
Accumulated benefit obligation	535		583		855		897
Fair value of plan assets	262		298		607		612

Schedule of defined benefit plan amounts recognized in other comprehensive income (loss)

Amounts recognized in accumulated other comprehensive income (pre-tax) consist of:

	U.S. Plans				Non-U.S. Plans
	March 31,				March 31,
(In millions)	2016		2015		2016			2015
Net actuarial loss	$	185	$	220	$	133		$	175
Prior service credit	—		—		(11		)	(6		)
Total	$	185	$	220	$	122		$	169

Schedule of other changes in plan assets and benefit obligations recognized in other comprehensive income

Other changes in accumulated other comprehensive income (pre-tax) were as follows:

	U.S. Plans									Non-U.S. Plans
	Years Ended March 31,									Years Ended March 31,
(In millions)	2016			2015			2014			2016			2015			2014
Net actuarial loss (gain)	$	9		$	58		$	(31	)	$	(38	)	$	117		$	12
Prior service credit	—			—			(8		)	(5		)	(8		)	—
Amortization of:
Net actuarial loss	(44		)	(27		)	(32		)	(5		)	(5		)	(4		)
Prior service credit (cost)	—			8			—			2			2			2
Foreign exchange impact and other	—			—			(1		)	(1		)	(8		)	4
Total recognized in other comprehensive loss (income)	$	(35	)	$	39		$	(72	)	$	(47	)	$	98		$	14

Schedule of weighted-average assumptions used to estimate net periodic pension expense and actuarial present value of benefit obligations

Weighted-average assumptions used to estimate the net periodic pension expense and the actuarial present value of benefit obligations were as follows:

	U.S. Plans						Non-U.S. Plans
	Years Ended March 31,						Years Ended March 31,
	2016		2015		2014		2016		2015		2014
Net periodic pension expense
Discount rates	3.36	%	3.74	%	3.39	%	2.36	%	3.85	%	3.95	%
Rate of increase in compensation	4.00		4.00		4.00		2.80		3.11		2.66
Expected long-term rate of return on plan assets	6.75		7.25		7.25		4.87		5.39		5.71
Benefit obligation
Discount rates	3.27	%	3.18	%	3.58	%	2.84	%	2.50	%	3.92	%
Rate of increase in compensation	4.00		4.00		4.00		2.98		3.24		3.27

Schedule of sensitivity to changes in weighted-average discount rate for U.S. pension plans

Sensitivity to changes in the weighted-average discount rate for our pension plans is as follows:

	U.S. Plans				Non-U.S. Plans
(In millions)	One Percentage Point Increase		One Percentage Point Decrease		One Percentage Point Increase		One Percentage Point Decrease
Increase (decrease) on projected benefit obligation	$	(35)	$	41	$	(85)	$	101
Increase (decrease) on net periodic pension cost		—		—		(4)		6

Summary of pension plan assets using fair value hierarchy by asset class

The following tables represent our pension plan assets as of March 31, 2016 and 2015, using the fair value hierarchy by asset class. The fair value hierarchy has three levels based on the reliability of the inputs used to determine fair value. Level 1 refers to fair values determined based on unadjusted quoted prices in active markets for identical assets. Level 2 refers to fair values estimated using significant other observable inputs and Level 3 includes fair values estimated using significant unobservable inputs.

	U.S. Plans								Non-U.S. Plans
	March 31, 2016								March 31, 2016
(In millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	4	$	—	$	—	$	4	$	4	$	—	$	—	$	4
Equity securities:
Common and preferred stock	16		—		—		16		—		—		—		—
Equity commingled funds	—		165		—		165		6		150		—		156
Fixed income securities:
Government securities	—		12		—		12		23		68		—		91
Corporate bonds	—		12		—		12		1		14		—		15
Mortgage-backed securities	—		14		—		14		—		—		—		—
Asset-backed securities and other	—		22		—		22		—		—		—		—
Fixed income commingled funds	—		—		—		—		66		120		—		186
Other:
Real estate funds	—		—		17		17		—		—		24		24
Other	—		—		—		—		21		107		3		131
Total	$	20	$	225	$	17	$	262	$	121	$	459	$	27	$	607

	U.S. Plans								Non-U.S. Plans
	March 31, 2015								March 31, 2015
(In millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash and cash equivalents	$	55	$	1	$	—	$	56	$	8	$	—	$	—	$	8
Equity securities:
Common and preferred stock	18		—		—		18		—		—		—		—
Equity commingled funds	—		138		—		138		7		149		—		156
Fixed income securities:
Government securities	—		14		—		14		26		53		—		79
Corporate bonds	—		14		—		14		—		13		—		13
Mortgage-backed securities	—		14		—		14		—		—		—		—
Asset-backed securities and other	—		26		—		26		—		—		—		—
Fixed income commingled funds	—		—		—		—		64		127		—		191
Other:
Real estate funds	—		—		18		18		—		—		26		26
Other commingled funds	—		—		—		—		—		13		—		13
Other	—		—		—		—		7		115		4		126
Total	$	73	$	207	$	18	$	298	$	112	$	470	$	30	$	612

Schedule of reconciliation of level 3 plan assets held

The following table represents a reconciliation of Level 3 plan assets held during the years ended March 31, 2016 and 2015:

	U.S. Plans						Non-U.S. Plans
(In millions)	Real Estate Funds			Total			Real Estate Funds			Other			Total
Balance at March 31, 2014	$	16		$	16		$	7		$	5		$	12
Acquisitions	—			—			—			—			—
Unrealized gain on plan assets still held	2			2			1			—			1
Purchases, sales and settlements	—			—			18			(1		)	17
Balance at March 31, 2015	$	18		$	18		$	26		$	4		$	30
Acquisitions	—			—			—			—			—
Unrealized gain on plan assets still held	1			1			(2		)	(1		)	(3		)
Purchases, sales and settlements	(2		)	(2		)	—			—			—
Balance at March 31, 2016	$	17		$	17		$	24		$	3		$	27