Held for Sale (Tables)

3 Months Ended

Jun. 30, 2022

Discontinued Operations and Disposal Groups [Abstract]

Assets and Liabilities Held for Sale

The total assets and liabilities of the E.U. disposal group that have met the classification of held for sale in the Company’s Condensed Consolidated Balance Sheet are as follows:

(In millions)	June 30, 2022		March 31, 2022
Assets
Current assets
Receivables, net	$	1,277	$	1,322
Inventories, net	819		809
Prepaid expenses and other	92		72
Property, plant, and equipment, net	291		304
Operating lease right-of-use assets	217		224
Intangible assets, net	253		267
Other non-current assets	312		328
Remeasurement of assets of businesses held for sale to fair value less costs to sell (1)	(279)		(302)
Total assets held for sale	$	2,982	$	3,024
Liabilities
Current liabilities
Drafts and accounts payable	$	1,406	$	1,826
Current portion of long-term debt	4		4
Current portion of operating lease liabilities	30		33
Other accrued liabilities	403		473
Long-term debt	11		11
Long-term deferred tax liabilities	60		55
Long-term operating lease liabilities	168		180
Other non-current liabilities	122		138
Total liabilities held for sale	$	2,204	$	2,720

(1)Excludes charges in fiscal 2022 related to the impairment of individual assets, which are primarily comprised of a $113 million impairment of internally developed software recorded directly against the gross value of the assets impacted.

The total assets and liabilities of the U.K. disposal group that met the classification of held for sale in the Company’s Condensed Consolidated Balance Sheet at March 31, 2022 were as follows:

(In millions)	March 31, 2022
Assets
Current assets
Cash and cash equivalents	$	531
Receivables, net	931
Inventories, net	563
Prepaid expenses and other	50
Property, plant, and equipment, net	91
Operating lease right-of-use assets	270
Intangible assets, net	117
Other non-current assets	88
Remeasurement of assets of businesses held for sale to fair value less costs to sell	(1,159)
Total assets held for sale	$	1,482
Liabilities
Current liabilities
Drafts and accounts payable	$	1,593
Current portion of operating lease liabilities	50
Other accrued liabilities	59
Long-term deferred tax liabilities	16
Long-term operating lease liabilities	262
Other non-current liabilities	38
Total liabilities held for sale	$	2,018