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Financial Instruments (Tables)
 6 Months Ended
Sep. 28, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Company's outstanding derivative instruments on a gross basis as recorded on its consolidated balance sheets
The following table summarizes the Company’s outstanding derivative instruments on a gross basis as recorded in the consolidated balance sheets as of September 28, 2013 and March 30, 2013:
 
 
Notional Amounts
 
Derivative Assets
 
Derivative Liabilities
Derivative Instrument(a)
 
September 28, 2013
 
March 30, 2013
 
September 28,
2013
 
March 30,
2013
 
September 28,
2013
 
March 30,
2013
 
 
 
 
 
 
Balance
Sheet
Line(b)
 
Fair
Value
 
Balance
Sheet
Line(b)
 
Fair
Value
 
Balance
Sheet
Line(b)
 
Fair
Value
 
Balance
Sheet
Line(b)
 
Fair
Value
 
 
(millions)
Designated Hedges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FC — Inventory purchases
 
$
339

 
$
366

 
PP
 
$
2

 
PP
 
$
14

 
(c) 
 
$
(4
)
 
AE
 
$
(2
)
FC — Other(d)
 
147

 
25

 
PP
 
1

 
—
 
—

 
AE
 
(2
)
 
AE
 
(1
)
NI — Euro Debt
 
—

 
140

 
—
 
(e) 

 
—
 
(e) 

 
—
 
(e) 

 
—
 
(e) 

Total Designated Hedges
 
$
486

 
$
531

 
 
 
$
3

 
 
 
$
14

 
 
 
$
(6
)
 
 
 
$
(3
)
Undesignated Hedges:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
FC — Other(f)
 
$
446

 
$
270

 
(g) 
 
$
21

 
PP
 
$
1

 
AE
 
$
(1
)
 
AE
 
$
(2
)
Total Hedges
 
$
932

 
$
801

 
 
 
$
24

 
 
 
$
15

 
 
 
$
(7
)
 
 
 
$
(5
)
 
(a) 
FC = Forward foreign currency exchange contracts; NI = Net Investment Hedge; Euro Debt = Euro-denominated 4.5% notes due October 4, 2013.
(b) 
PP = Prepaid expenses and other current assets; AE = Accrued expenses and other current liabilities; ONCL = Other non-current liabilities; ONCA = Other non-current assets.
(c) 
$3 million included within AE and $1 million included within ONCL.
(d) 
Primarily related to designated hedges of foreign currency-denominated intercompany royalty payments and marketing contributions, and other net operational exposures.
(e) 
As of March 30, 2013, a portion of the Euro Debt's principal amount was designated as a net investment hedge, and the entire principal amount has been de-designated as of September 28, 2013. See Note 12 for a summary of the carrying values and the estimated fair values of the Euro Debt as of September 28, 2013 and March 30, 2013.
(f) 
Primarily related to undesignated hedges of foreign currency-denominated intercompany loans, third-party debt obligations, and other net operational exposures.
(g) 
$17 million included within PP and $4 million included within ONCA.
Offsetting Assets [Table Text Block]
The Company records and presents the fair values of all of its derivative assets and liabilities in the consolidated balance sheets on a gross basis, even though they are subject to master netting arrangements. However, if the Company were to offset and record the asset and liability balances of all of its forward foreign currency exchange contracts on a net basis in accordance with the terms of each of its master netting arrangements, as spread across eight separate counterparties, the amounts presented in the consolidated balance sheets as of September 28, 2013 and March 30, 2013 would be adjusted from the current gross presentation as detailed in the following table:
 
 
September 28, 2013
 
March 30, 2013
Derivative Instrument
 
Gross Amounts Presented in the Consolidated Balance Sheet
 
Gross Amounts Not Offset in the Consolidated Balance Sheet Subject to
Master Netting Agreements
 
Net
Amount
 
Gross Amounts Presented in the Consolidated Balance Sheet
 
Gross Amounts Not Offset in the Consolidated Balance Sheet Subject to
Master Netting Agreements
 
Net
Amount
 
 
(millions)
FC — Derivative assets
 
$
24

 
$
(2
)
 
$
22

 
$
15

 
$
(3
)
 
$
12

FC — Derivative liabilities
 
$
(7
)
 
$
2

 
$
(5
)
 
$
(5
)
 
$
3

 
$
(2
)
Gains (losses) recognized in AOCI and gains (losses) reclassified from AOCI to Earnings [Table Text Block]
The following tables summarize the gross impact of the effective portion of gains and losses from the Company's derivative instruments on its unaudited interim consolidated financial statements for the three-month and six-month periods ended September 28, 2013 and September 29, 2012:
 
 
Gains (Losses) Recognized in OCI
 
 
Three Months Ended
 
Six Months Ended
Derivative Instrument
 
September 28,
2013
 
September 29,
2012
 
September 28,
2013
 
September 29,
2012
 
 
 
 
(millions)
 
 
Designated Cash Flow Hedges:
 
 
 
 
 
 
 
 
FC — Inventory purchases
 
$
(7
)
 
$
(1
)
 
$
(8
)
 
$
8

FC — Other
 
(1
)
 
(1
)
 
(1
)
 
(4
)
 
 
$
(8
)
 
$
(2
)
 
$
(9
)
 
$
4

Designated Hedge of Net Investment:(a)
 
 
 
 
 
 
 
 
Euro Debt
 
$
1

 
$
(4
)
 
$
—

 
$
10

Total Designated Hedges
 
$
(7
)
 
$
(6
)
 
$
(9
)
 
$
14

 
 
Gains (Losses) Reclassified from AOCI to Earnings
 
Location of Gains (Losses) Reclassified from
AOCI to Earnings
 
 
Three Months Ended
 
Six Months Ended
 
Derivative Instrument
 
September 28,
2013
 
September 29,
2012
 
September 28,
2013
 
September 29,
2012
 
 
 
 
 
(millions)
 
 
 
 
Designated Cash Flow Hedges:
 
 
 
 
 
 
 
 
 
 
FC — Inventory purchases
 
$
1

 
$
8

 
$
6

 
$
11

 
Cost of goods sold
FC — Other
 
(1
)
 
—

 
(1
)
 
2

 
Foreign currency gains (losses)
 
 
$
—

 
$
8

 
$
5

 
$
13

 
 

 
(a) 
Amounts would be recognized as a gain (loss) on the sale or liquidation of the hedged net investment.
Gains (losses) on derivatives not designated as hedges recognized in earnings
The following table summarizes the impact of gains and losses from the Company's undesignated hedge contracts on its unaudited interim consolidated statements of income for the three-month and six-month periods ended September 28, 2013 and September 29, 2012:
 
 
Gains (Losses) Recognized in Earnings
 
Location of Gains (Losses)
Recognized in Earnings
 
 
Three Months Ended
 
Six Months Ended
 
Derivative Instrument
 
September 28,
2013
 
September 29,
2012
 
September 28,
2013
 
September 29,
2012
 
 
 
(millions)
 
 
Undesignated Hedges:
 
 
 
 
 
 
 
 
 
 
FC — Other
 
$
10

 
$
(3
)
 
$
18

 
$
(5
)
 
Foreign currency gains (losses)
Total Undesignated Hedges
 
$
10

 
$
(3
)
 
$
18

 
$
(5
)
 
 
Company's short-term and non-current investments recorded in the consolidated balance sheets
The following table summarizes the Company’s short-term and non-current investments recorded in its consolidated balance sheets as of September 28, 2013 and March 30, 2013:
 
 
September 28, 2013
 
March 30, 2013
Type of Investment
 
Short-term
< 1 year
 
Non-current
1 - 3 years
 
Total
 
Short-term
< 1 year
 
Non-current
1 - 3 years
 
Total
 
 
 
 
 
 
(millions)
 
 
 
 
Available-for-Sale:
 
 
 
 
 
 
 
 
 
 
 
 
Government bonds — U.S.
 
$
27

 
$
5

 
$
32

 
$
21

 
$
8

 
$
29

Government bonds — non-U.S.
 
—

 
—

 
—

 
67

 
25

 
92

Corporate bonds — non-U.S.
 
—

 
—

 
—

 
36

 
46

 
82

Variable rate municipal securities — U.S.
 
—

 
—

 
—

 
17

 
—

 
17

Auction rate securities(a)
 
—

 
2

 
2

 
—

 
2

 
2

Total available-for-sale investments
 
$
27

 
$
7

 
$
34

 
$
141

 
$
81

 
$
222

Other:
 
 
 
 
 
 
 
 
 
 
 
 
Time deposits
 
$
545

 
$
—

 
$
545

 
$
184

 
$
—

 
$
184

Total Investments
 
$
572

 
$
7

 
$
579

 
$
325

 
$
81

 
$
406


 
(a)
Auction rate securities have characteristics similar to short-term investments. However, the Company has classified these securities as non-current investments in its consolidated balance sheets as current market conditions call into question its ability to redeem these investments for cash within the next twelve months.