Operating lease payments

  
The following maturity analysis presents expected undiscounted cash payments for operating leases as of March 31, 2022:  


|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | Fiscal Year |  |  |
| (in millions) |  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027 |  | Thereafter |  | Total |
| Operating lease payments |  | $ | 415  |  |  | $ | 308  |  |  | $ | 225  |  |  | $ | 133  |  |  | $ | 70  |  |  | $ | 155  |  |  | $ | 1,306  |  |
| Less: imputed interest |  |  |  |  |  |  |  |  |  |  |  |  |  | (103) |  |
| Total operating lease liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,203  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

  
Finance Leases   
The components of finance lease expense were as follows:  


|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | For the Fiscal Year Ended |
| (in millions) |  | March 31, 2022 |  | March 31, 2021 |  | March 31, 2020 |
|  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |
| Finance lease cost: |  |  |  |  |  |  |
|      Amortization of right-of-use assets |  | $ | 346  |  |  | $ | 433  |  |  | $ | 405  |  |
|      Interest on lease liabilities |  | 27  |  |  | 45  |  |  | 65  |  |
|      Total finance lease cost |  | $ | 373  |  |  | $ | 478  |  |  | $ | 470  |  |

  
The following table provides supplemental cash flow information related to the Company’s finance leases:  


|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | For the Fiscal Year Ended |
| (in millions) |  | March 31, 2022 |  | March 31, 2021 |  | March 31, 2020 |
| Interest paid for finance lease liabilities – Operating cash flows |  | $ | 27  |  |  | $ | 45  |  |  | $ | 65  |  |
| Cash paid for amounts included in the measurement of finance lease obligations – financing cash flows |  | 501  |  |  | 584  |  |  | 576  |  |
| Total cash paid in the measurement of finance lease obligations |  | $ | 528  |  |  | $ | 629  |  |  | $ | 641  |  |
|  |  |  |  |  |  |  |
| Capital expenditures through finance lease obligations(1) |  | $ | 233  |  |  | $ | 348  |  |  | $ | 605  |  |

       
(1) See Note 18 – ”Cash Flows” for further information on non-cash activities affecting cash flows.  
The following table presents finance lease balances:   


|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  | As of |
| (in millions) |  | Balance Sheet Line Item |  | March 31, 2022 |  | March 31, 2021 |
| ROU finance lease assets |  | Property and Equipment, net  |  | $ | 602  |  |  | $ | 834  |  |
|  |  |  |  |  |  |  |
| Finance lease  |  | Short-term debt and current maturities of long-term debt  |  | $ | 289  |  |  | $ | 398  |  |
| Finance lease |  | Long-term debt, net of current maturities  |  | 354  |  |  | 496  |  |
| Total finance lease liabilities(1)  |  |  |  | $ | 643  |  |  | $ | 894  |  |
|  |  |  |  |  |  |  |

      
(1) See Note 14 – “Debt” for further information on finance lease liabilities.  
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