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LEASES
 12 Months Ended
Mar. 30, 2024
Leases [Abstract]  
LEASES LEASES
The assets and liabilities related to operating and finance leases were as follows:
(In thousands)Location in Consolidated Balance SheetMarch 2024March 2023
Assets:
Operating lease assetsOperating lease right-of-use assets$1,330,361 $1,372,182 
Finance lease assetsProperty, plant and equipment, net11,500 12,417 
Total lease assets$1,341,861 $1,384,599 
Liabilities:
Current
Operating lease liabilitiesAccrued liabilities$309,444 $332,222 
Finance lease liabilitiesCurrent portion of long-term debt981 951 
Noncurrent
Operating lease liabilitiesOperating lease liabilities1,156,858 1,171,941 
Finance lease liabilitiesLong-term debt15,178 16,287 
Total lease liabilities$1,482,461 $1,521,401 
The components of lease costs were as follows:
Year Ended March
(In thousands)202420232022
Operating lease cost$426,602 $418,716 $435,637 
Finance lease cost – amortization of right-of-use assets917 917 917 
Finance lease cost – interest on lease liabilities457 486 513 
Short-term lease cost25,256 22,154 17,602 
Variable lease cost132,474 117,189 98,052 
Impairment12,958 — 4,279 
Gain recognized from sale-leaseback transaction— (13,189)— 
Total lease cost$598,664 $546,273 $557,000 
Supplemental cash flow information related to leases was as follows:

Year Ended March
(In thousands)202420232022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows – operating leases$441,269 $428,443 $465,249 
Operating cash flows – finance leases457 486 513 
Financing cash flows – finance leases1,079 1,050 1,023 
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases361,959 545,856 205,811 
Finance leases— — — 
Lease terms and discount rates were as follows:
March 2024March 2023March 2022
Weighted average remaining lease term:
Operating leases6.26 years6.60 years6.17 years
Finance leases12.51 years13.51 years14.51 years
Weighted average discount rate:
Operating leases3.29 %2.61 %1.78 %
Finance leases2.71 %2.71 %2.71 %
Maturities of operating and finance lease liabilities for the next five fiscal years and thereafter as of March 2024 were as follows:
(In thousands)Operating LeasesFinance LeasesTotal
2025$354,808 $1,408 $356,216 
2026312,351 1,536 313,887 
2027266,884 1,664 268,548 
2028190,088 1,536 191,624 
2029125,901 1,408 127,309 
Thereafter375,946 11,523 387,469 
Total lease payments1,625,978 19,075 1,645,053 
Less: present value adjustment159,676 2,916 162,592 
Present value of lease liabilities$1,466,302 $16,159 $1,482,461 
The Company excluded approximately $82.3 million of leases (undiscounted basis) that have not yet commenced. These leases will commence primarily in Fiscal 2025 with lease terms of 1 to 15 years.
LEASES LEASES
The assets and liabilities related to operating and finance leases were as follows:
(In thousands)Location in Consolidated Balance SheetMarch 2024March 2023
Assets:
Operating lease assetsOperating lease right-of-use assets$1,330,361 $1,372,182 
Finance lease assetsProperty, plant and equipment, net11,500 12,417 
Total lease assets$1,341,861 $1,384,599 
Liabilities:
Current
Operating lease liabilitiesAccrued liabilities$309,444 $332,222 
Finance lease liabilitiesCurrent portion of long-term debt981 951 
Noncurrent
Operating lease liabilitiesOperating lease liabilities1,156,858 1,171,941 
Finance lease liabilitiesLong-term debt15,178 16,287 
Total lease liabilities$1,482,461 $1,521,401 
The components of lease costs were as follows:
Year Ended March
(In thousands)202420232022
Operating lease cost$426,602 $418,716 $435,637 
Finance lease cost – amortization of right-of-use assets917 917 917 
Finance lease cost – interest on lease liabilities457 486 513 
Short-term lease cost25,256 22,154 17,602 
Variable lease cost132,474 117,189 98,052 
Impairment12,958 — 4,279 
Gain recognized from sale-leaseback transaction— (13,189)— 
Total lease cost$598,664 $546,273 $557,000 
Supplemental cash flow information related to leases was as follows:

Year Ended March
(In thousands)202420232022
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows – operating leases$441,269 $428,443 $465,249 
Operating cash flows – finance leases457 486 513 
Financing cash flows – finance leases1,079 1,050 1,023 
Right-of-use assets obtained in exchange for lease liabilities:
Operating leases361,959 545,856 205,811 
Finance leases— — — 
Lease terms and discount rates were as follows:
March 2024March 2023March 2022
Weighted average remaining lease term:
Operating leases6.26 years6.60 years6.17 years
Finance leases12.51 years13.51 years14.51 years
Weighted average discount rate:
Operating leases3.29 %2.61 %1.78 %
Finance leases2.71 %2.71 %2.71 %
Maturities of operating and finance lease liabilities for the next five fiscal years and thereafter as of March 2024 were as follows:
(In thousands)Operating LeasesFinance LeasesTotal
2025$354,808 $1,408 $356,216 
2026312,351 1,536 313,887 
2027266,884 1,664 268,548 
2028190,088 1,536 191,624 
2029125,901 1,408 127,309 
Thereafter375,946 11,523 387,469 
Total lease payments1,625,978 19,075 1,645,053 
Less: present value adjustment159,676 2,916 162,592 
Present value of lease liabilities$1,466,302 $16,159 $1,482,461 
The Company excluded approximately $82.3 million of leases (undiscounted basis) that have not yet commenced. These leases will commence primarily in Fiscal 2025 with lease terms of 1 to 15 years.