Goodwill and Intangible Assets

12 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill was $2,405 million and $2,344 million as of March 31, 2025 and March 31, 2024, respectively. The $61 million increase in the carrying amount of goodwill was attributable to the Company's finalization of the accounting for the acquisition of PGSC.

Intangible Assets

Intangible assets consisted of the following:


	March 31, 2025						March 31, 2024
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Amortizable intangible assets:
Customer contracts and related customer relationships	$	619	$	305	$	314	$	592	$	238	$	354
Software	168		109		59		146		89		57
Total amortizable intangible assets	$	787	$	414	$	373	$	738	$	327	$	411
Unamortizable intangible assets:
Trade name	$	190	$	—	$	190	$	190	$	—	$	190
Total	$	977	$	414	$	563	$	928	$	327	$	601

The $27 million increase in the gross carrying value of amortizable intangible assets (excluding software) was primarily attributable to the Company’s acquisition of PGSC.

Amortization expense for fiscal 2025, 2024, and 2023 was $95 million, $93 million, and $94 million, respectively.

The following table summarizes the estimated annual amortization expense for future periods:


For the Fiscal Year Ended March 31,
2026	$	86
2027	66
2028	57
2029	48
2030	40
Thereafter	76
Total estimated amortization expense	$	373