Fair Value Measurements (Tables)

12 Months Ended

Mar. 28, 2020

Fair Value Disclosures [Abstract]

Contracts Measured and Recorded at Fair Value on Recurring and Categorized in Level 2 of Fair Value Hierarchy

All contracts are measured and recorded at fair value on a recurring basis and are categorized in Level 2 of the fair value hierarchy, as shown in the following table (in millions):

	Fair value at March 28, 2020, using:						Fair value at March 30, 2019, using:
	Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Derivative assets:
Forward foreign currency exchange contracts	$	—	$	1	$	—	$	—	$	5	$	—
Net investment hedges	—		3		—		—		37		—
Total derivative assets	$	—	$	4	$	—	$	—	$	42	$	—
Derivative liabilities:
Other undesignated derivative contracts	$	—	$	—	$	—	$	—	$	5	$	—

Fair Value Measurement of Long-term Debt

The following table summarizes the carrying values and estimated fair values of the Company’s short- and long-term debt, based on Level 2 measurements (in millions):

	March 28, 2020				March 30, 2019
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
4.000% Senior Notes	$	446	$	443	$	445	$	438
Term Loan	$	1,010	$	957	$	1,570	$	1,574
Revolving Credit Facilities	$	720	$	720	$	550	$	550

Carrying Value and Fair Values of Impaired Long-Lived Assets

The following table details the carrying values and fair values of the Company’s assets that have been impaired (in millions):

	Carrying Value Prior to Impairment		Fair Value		Impairment Charge
Fiscal 2020:
Operating Lease Right-of-Use Assets	$	717	$	437	$	280
Trade Name	547		367		180
Goodwill	474		303		171
Property and Equipment	105		28		77
Total	$	1,843	$	1,135	$	708
Fiscal 2019:
Property and Equipment	$	26	$	7	$	19
Lease Rights	3		1		2
Total	$	29	$	8	$	21
Fiscal 2018:
Property and Equipment	$	31	$	3	$	28
Lease Rights	5		1		4
Customer relationships	1		—		1
Total	$	37	$	4	$	33

Please refer to Note 8 and Note 9 for additional information.