DXC Technology CoDXC

DXC Technology Co Debt Disclosure

10-KFiled May 15, 20252 min read
Debt
The following is a summary of the Company's debt:
As of
(in millions)
Interest Rates
Fiscal Year Maturities
March 31, 2025(1)
March 31, 2024(1)
Short-term debt and current maturities of long-term debt
€650 million Senior notes
1.75%2026$702 $— 
Current maturities of finance lease liabilities
0.51% - 14.59%
2026123 178 
Current maturities of other long-term debt
Various202655 93 
Short-term debt and current maturities of long-term debt
$880 $271 
Long-term debt, net of current maturities
€650 million Senior notes
1.75%2026— 700 
$700 million Senior notes
1.80%2027698 697 
€750 million Senior notes
0.45%2028808 806 
$650 million Senior notes
2.375%2029647 646 
€600 million Senior notes
0.95%2032644 643 
Finance lease liabilities
0.51% - 14.59%
2026 - 2035
155 242 
Borrowings for assets acquired under long-term financing
0.00% - 9.78%
2026 - 202928 84 
Other borrowingsVarious
2026 - 2035
16 — 
Long-term debt, net of current maturities
$2,996 $3,818 
Total debt
$3,876 $4,089 
        

(1)The carrying amounts of the senior notes as of March 31, 2025 and March 31, 2024, include the remaining principal outstanding of $3,510 million and $3,509 million, respectively, net of total unamortized debt (discounts) and premiums, and deferred debt issuance costs of $11 million and $17 million, respectively.


Fair Value of Debt

The estimated fair value of the Company's long-term debt excluding finance lease liabilities was $3.3 billion as of both March 31, 2025 and March 31, 2024, respectively, as compared with the carrying value of $3.6 billion and $3.7 billion as of March 31, 2025 and March 31, 2024, respectively. If measured at fair value, long-term debt excluding finance lease liabilities would be classified as Level 1 or 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, 2025, are as follows:
Fiscal Year(in millions)
2026$757 
2027722 
2028813 
2029653 
20302 
Thereafter651 
Total$3,598 
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Historical Timeline

Fiscal YearFiled
2025May 15, 2025Showing above
2024May 17, 2024

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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