v3.25.4
Other Financial Statement Details
 9 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Other Financial Statement Details Other Financial Statement Details
Accounts Receivable
 
Accounts receivable consists of the following (in millions):
 December 31,March 31,
20252025
Trade accounts receivable$697.6 $684.1 
Other39.2 11.5 
Total accounts receivable, gross736.8 695.6 
Less: allowance for expected credit losses5.6 5.9 
Total accounts receivable, net$731.2 $689.7 

Inventories

The components of inventories consist of the following (in millions):
 December 31,March 31,
20252025
Raw materials$132.7 $174.8 
Work in process699.9 857.6 
Finished goods225.1 261.1 
Total inventories$1,057.7 $1,293.5 

Property, Plant and Equipment

Property, plant and equipment consists of the following (in millions):
 December 31,March 31,
20252025
Land$99.7 $84.8 
Building and building improvements710.7 705.9 
Machinery and equipment2,440.5 2,311.3 
Projects in process431.5 424.1 
Total property, plant and equipment, gross3,682.4 3,526.1 
Less: accumulated depreciation and amortization2,552.4 2,342.4 
Total property, plant and equipment, net$1,130.0 $1,183.7 
 
Depreciation expense attributed to property, plant and equipment was $37.8 million and $116.3 million for the three and nine months ended December 31, 2025, respectively, compared to $40.4 million and $124.6 million for the three and nine months ended December 31, 2024, respectively.

The Company reviews and evaluates its long-lived assets for impairment when events or changes in circumstances indicate that the related carrying amount of such assets may not be recoverable. For each of the three and nine months ended December 31, 2025 and 2024, the Company’s evaluation of its property, plant and equipment did not result in any material impairments.
Accrued Liabilities

Accrued liabilities consists of the following (in millions):
 December 31,March 31,
20252025
Accrued compensation and benefits$134.0 $108.1 
Income taxes payable— 99.1 
Deferred revenue163.0 213.4 
Sales related reserves339.5 329.7 
Current portion of lease liabilities38.6 35.7 
Accrued expenses and other liabilities223.6 208.5 
Total accrued liabilities$898.7 $994.5