DXC Technology CoDXC

DXC Technology Co Debt Disclosure

10-KFiled May 8, 20262 min read
Debt
The following is a summary of the Company's debt:
As of
(in millions)
Interest Rates
Fiscal Year Maturities
March 31, 2026(1)
March 31, 2025(1)
Short-term debt and current maturities of long-term debt
€650 million Senior notes
1.75%2026$— $702 
$700 million Senior notes
1.80%2027400 — 
Current maturities of finance lease liabilities
0.53% - 14.59%
202792 123 
Current maturities of other long-term debt
Various202728 55 
Short-term debt and current maturities of long-term debt
$520 $880 
Long-term debt, net of current maturities
$700 million Senior notes
1.80%2027— 698 
€750 million Senior notes
0.45%2028862 808 
$650 million Senior notes
2.375%2029648 647 
€650 million Senior notes
4.25%2031731 — 
€600 million Senior notes
0.95%2032687 644 
Finance lease liabilities
0.53% - 14.59%
2027 - 203582 155 
Borrowings for assets acquired under long-term financing
0.00% - 7.55%
2027 - 20337 28 
Other borrowingsVarious2027 - 203515 16 
Long-term debt, net of current maturities
$3,032 $2,996 
Total debt
$3,552 $3,876 
        

(1)The carrying amounts of the senior notes as of March 31, 2026 and March 31, 2025, include the remaining principal outstanding of $3,328 million and $3,510 million, respectively, net of total unamortized debt discounts and premiums, and deferred debt issuance costs of $27 million and $11 million, respectively.

Senior Notes

During the third quarter of fiscal 2026, the Company issued €650 million aggregate principal amount of 4.25% senior notes due fiscal 2031. The net proceeds from the issuance were used to repay in full the Company’s €650 million senior notes due fiscal 2026. In addition, the Company redeemed $300 million aggregate principal amount of its $700 million senior notes due fiscal 2027.

Fair Value of Debt

The estimated fair value of the Company's senior notes was $3.1 billion and $3.3 billion as of March 31, 2026 and March 31, 2025, respectively, as compared with the carrying value of $3.3 billion and $3.5 billion as of March 31, 2026 and March 31, 2025, respectively. Senior notes are classified as Level 2 within the fair value hierarchy.
Future Maturities of Debt

Future maturities of debt, excluding finance lease liabilities, for fiscal years after March 31, 2026, are as follows:
Fiscal Year(in millions)
2027$428 
2028867 
2029652 
20302 
2031734 
Thereafter695 
Total$3,378 

The Company's liquidity of $4.7 billion as of March 31, 2026, includes $1.7 billion of cash and cash equivalents and $3.0 billion of available borrowings under our revolving credit facility. On October 23, 2025, the Company amended its revolving credit facility, extending the maturity date to November 1, 2030 and reducing the total available borrowings to $3.0 billion as a result of rationalizing its bank group. The Company believes this revised facility continues to provide ample financial flexibility to support our operating and strategic objectives.

Historical Timeline

Fiscal YearFiled
2026May 8, 2026Showing above
2025May 15, 2025
2024May 17, 2024
2023May 19, 2023
2022May 26, 2022
2021May 28, 2021
2020Jun 1, 2020
2019Jun 13, 2019
2018May 29, 2018

About Debt Disclosures

Debt disclosures detail a company's borrowing structure — the types of instruments, interest rates, maturity schedule, and covenant restrictions that define its financial obligations and flexibility. This section is essential for assessing refinancing risk, interest rate exposure, and the margin of safety against financial distress.

Key signals: the maturity schedule reveals concentration risk — large maturities within 1-2 years during tight credit markets can force dilutive refinancing or asset sales. Compare the fair value of debt against carrying amount to gauge whether the market views the company's credit risk differently than the balance sheet suggests. Watch covenant compliance disclosures for tightening cushions, especially leverage and interest coverage ratios. Variable-rate debt exposure quantifies sensitivity to interest rate changes. Secured versus unsecured mix affects recovery rates and future borrowing capacity. Compare net debt-to-EBITDA against industry peers and covenant limits to assess financial health.

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