Shares repurchased but not settled in cash

  
Note 18 - Cash Flows  
Cash payments for interest on indebtedness and income taxes and other select non-cash activities are as follows:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Fiscal Years Ended |
| (in millions) |  | March 31, 2022 |  | March 31, 2021 |  | March 31, 2020 |
| Cash paid for: |  |  |  |  |  |  |
| Interest |  | $ | 227  |  |  | $ | 334  |  |  | $ | 371  |  |
| Taxes on income, net of refunds(1) |  | $ | 394  |  |  | $ | 798  |  |  | $ | 247  |  |
|  |  |  |  |  |  |  |
| Non-cash activities: |  |  |  |  |  |  |
| Operating: |  |  |  |  |  |  |
|   ROU assets obtained in exchange for lease, net(2) |  | $ | 279  |  |  | $ | 530  |  |  | $ | 411  |  |
|   Prepaid assets acquired under long-term financing |  | $ | 107  |  |  | $ | 46  |  |  | $ | 99  |  |
| Investing: |  |  |  |  |  |  |
| Capital expenditures in accounts payable and accrued expenses |  | $ | 9  |  |  | $ | 341  |  |  | $ | 66  |  |
| Capital expenditures through finance lease obligations |  | $ | 233  |  |  | $ | 348  |  |  | $ | 605  |  |
| Assets acquired under long-term financing |  | $ | 44  |  |  | $ | 35  |  |  | $ | 376  |  |
| Decrease in deferred purchase price receivable |  | $ | —  |  |  | $ | (52) |  |  | $ | (205) |  |
| Contingent consideration |  | $ | —  |  |  | $ | 3  |  |  | $ | 18  |  |
| Financing: |  |  |  |  |  |  |
| Dividends declared but not yet paid |  | $ | —  |  |  | $ | —  |  |  | $ | 55  |  |
| Shares repurchased but not settled in cash |  | $ | 6  |  |  | $ | —  |  |  | $ | —  |  |

            (1) Income tax refunds were $54 million, $70 million, and $42 million for fiscal 2022, 2021, and 2020, respectively.(2)There were $1,085 million, $763 million, and $216 million in modifications and terminations in fiscal 2022, 2021, and 2020, respectively, and net of $87 million change in lease classification from operating to finance lease in fiscal 2020,   
Note 19 - Other (Income) Expense, Net  
The following table summarizes components of other (income) expense, net:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Fiscal Years Ended |
| (in millions) |  | March 31, 2022 |  | March 31, 2021 |  | March 31, 2020 |
| Non-service cost components of net periodic pension (income) expense |  | $ | (1,066) |  |  | $ | 110  |  |  | $ | (658) |  |
| Foreign currency loss (gain) |  | 13  |  |  | 14  |  |  | (25) |  |
|  |  |  |  |  |  |  |
| Other gain |  | (28) |  |  | (22) |  |  | (37) |  |
| Totals |  | $ | (1,081) |  |  | $ | 102  |  |  | $ | (720) |  |

  
Non-service cost components of net periodic pension expense resulted primarily from the actuarial gain of $664 million compared to the loss of $537 million prior year. See Note 15 - Pension and Other Benefit Plans. Foreign currency loss (gain) resulted from the movement of foreign currency exchange rates on the Company’s foreign currency denominated assets and liabilities, related hedges including options to manage its exposure to economic risk and the cost of the Company’s hedging program. Other gain primarily relates to gain on sale of non-operating assets.  
120
