Finance lease payments

  
The weighted-average finance lease term was 2.8 years and 2.6 years as of March 31, 2022 and March 31, 2021, respectively. The weighted-average finance lease discount rate was 2.9% and 3.6% as of March 31, 2022 and March 31, 2021, respectively.  
The following maturity analysis presents expected undiscounted cash payments for finance leases as of March 31, 2022:  


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|  |  | Fiscal Year |  |  |
| (in millions) |  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027 |  | Thereafter |  | Total |
| Finance lease payments |  | $ | 300  |  |  | $ | 195  |  |  | $ | 108  |  |  | $ | 50  |  |  | $ | 19  |  |  | $ | —  |  |  | $ | 672  |  |
| Less: imputed interest |  |  |  |  |  |  |  |  |  |  |  |  |  | (29) |  |
| Total finance lease liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 643  |  |
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Note 8 - Fair Value  
Fair Value Measurements on a Recurring Basis  
The following table presents the Company’s assets and liabilities that are measured at fair value on a recurring basis excluding pension assets and derivative assets and liabilities. See Note 15 - "Pension and Other Benefit Plans" and Note 9 - "Derivative Instruments" for information about these excluded assets and liabilities. There were no transfers between any of the levels during the periods presented.

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|  |  | Fair Value Hierarchy |
| (in millions) |  | As of March 31, 2022 |
| Assets: |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3 |
| Money market funds and money market deposit accounts |  | $ | 5  |  |  | $ | 5  |  |  | $ | —  |  |  | $ | —  |  |
|  |  |  |  |  |  |  |  |  |
| Time deposits(1) |  | 51  |  |  | 51  |  |  | —  |  |  | —  |  |
|  |  |  |  |  |  |  |  |  |
| Other securities(2) |  | 51  |  |  | —  |  |  | 49  |  |  | 2  |  |
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|  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |
| Total assets |  | $ | 107  |  |  | $ | 56  |  |  | $ | 49  |  |  | $ | 2  |  |
|  |  |  |  |  |  |  |  |  |
| Liabilities: |  |  |  |  |  |  |  |  |
| Contingent consideration |  | $ | 8  |  |  | $ | —  |  |  | $ | —  |  |  | $ | 8  |  |
|  |  |  |  |  |  |  |  |  |
| Total liabilities |  | $ | 8  |  |  | $ | —  |  |  | $ | —  |  |  | $ | 8  |  |

  
  


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| (in millions) |  | As of March 31, 2021 |
| Assets: |  | Fair Value |  | Level 1 |  | Level 2 |  | Level 3 |
| Money market funds and money market deposit accounts |  | $ | 12  |  |  | $ | 12  |  |  | $ | —  |  |  | $ | —  |  |
| Time deposits(1) |  | 78  |  |  | 78  |  |  | —  |  |  | —  |  |
| Other securities(2) |  | 57  |  |  | —  |  |  | 55  |  |  | 2  |  |
|  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |
| Total assets |  | $ | 147  |  |  | $ | 90  |  |  | $ | 55  |  |  | $ | 2  |  |
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| Liabilities: |  |  |  |  |  |  |  |  |
| Contingent consideration |  | $ | 27  |  |  | $ | —  |  |  | $ | —  |  |  | $ | 27  |  |
| Total Liabilities |  | $ | 27  |  |  | $ | —  |  |  | $ | —  |  |  | $ | 27  |  |
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(1) Cost basis approximated fair value due to the short period of time to maturity.(2) Other securities include available-for-sale equity security investments with Level 2 inputs that have a cost basis of $53 million and $57 million, and losses of $4 million and $2 million, as of March 31, 2022 and March 31, 2021, respectively, included in other (income) expense, net in the Company’s statements of operations. During the third quarter of fiscal 2021, previously held investments were sold and the proceeds were used to purchase new investments.The gain of $17 million from the sale was included in other (income) expense, net.  
90
