Other foreign earnings not indefinitely reinvested

  
The following table provides information on the Company's various tax carryforwards:

|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  | As of March 31, 2022 |  | As of March 31, 2021 |
| (in millions) |  | Total |  | With No Expiration |  | With Expiration |  | Expiration Dates Through |  | Total |  | With No Expiration |  | With Expiration |  | Expiration Dates Through |
| Net operating loss carryforwards |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Federal |  | $ | 88  |  |  | $ | 88  |  |  | $ | —  |  |  | N/A |  | $ | 132  |  |  | $ | 128  |  |  | $ | 4  |  |  | 2033 |
| State |  | $ | 589  |  |  | $ | 243  |  |  | $ | 346  |  |  | 2042 |  | $ | 369  |  |  | $ | 6  |  |  | $ | 363  |  |  | 2041 |
| Foreign |  | $ | 9,368  |  |  | $ | 5,635  |  |  | $ | 3,733  |  |  | 2039 |  | $ | 16,700  |  |  | $ | 6,191  |  |  | $ | 10,509  |  |  | 2041 |
| Tax credit carryforwards |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Federal |  | $ | 5  |  |  | $ | —  |  |  | $ | 5  |  |  | 2042 |  | $ | 5  |  |  | $ | —  |  |  | $ | 5  |  |  | 2040 |
| State |  | $ | 5  |  |  | $ | 2  |  |  | $ | 3  |  |  | 2037 |  | $ | —  |  |  | $ | —  |  |  | $ | —  |  |  | N/A |
| Foreign |  | $ | —  |  |  | $ | —  |  |  | $ | —  |  |  | N/A |  | $ | —  |  |  | $ | —  |  |  | $ | —  |  |  | N/A |
| Capital loss carryforwards |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Federal |  | $ | 42  |  |  | $ | —  |  |  | $ | 42  |  |  | 2026 |  | $ | —  |  |  | $ | —  |  |  | $ | —  |  |  | N/A |
| State |  | $ | —  |  |  | $ | —  |  |  | $ | —  |  |  | N/A |  | $ | —  |  |  | $ | —  |  |  | $ | —  |  |  | N/A |
| Foreign |  | $ | 199  |  |  | $ | 199  |  |  | $ | —  |  |  | N/A |  | $ | 45  |  |  | $ | 45  |  |  | $ | —  |  |  | N/A |

  
The Company also has federal and state 163(j) interest deduction carryforward attributes of approximately $239 million and $667 million, respectively, that have no expiration.  
The majority of our global unremitted foreign earnings have been taxed or would be exempt from U.S. tax upon repatriation. Such earnings and all current foreign earnings are not indefinitely reinvested. The following earnings are considered indefinitely reinvested: approximately $495 million that could be subject to U.S. federal tax when repatriated to the U.S. under section 1.245A-5(b) of the final Treasury regulations; and our accumulated earnings in India as of March 31, 2021. A portion of these indefinitely reinvested earnings may be subject to foreign and U.S. state tax consequences when remitted. The Company will continue to evaluate its position in the future based on its future strategy and cash needs.   
The Company accounts for income tax uncertainties in accordance with ASC 740 Income Taxes, which prescribes a recognition threshold and measurement criteria for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Benefits from tax positions should be recognized in the financial statements only when it is more likely than not that the tax position will be sustained upon examination by the appropriate taxing authority that would have full knowledge of all relevant information. A tax position that meets the more likely than not recognition threshold is measured at the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. Tax positions that previously failed to meet the more likely than not recognition threshold should be recognized in the first subsequent financial reporting period in which that threshold is met. Previously recognized tax positions that no longer meet the more likely than not recognition threshold should be derecognized in the first subsequent financial reporting period in which that threshold is no longer met. ASC 740 also provides guidance on the accounting for and disclosure of liabilities for uncertain tax positions, interest and penalties.  
102
