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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Dec. 26, 2020
Dec. 28, 2019
Cash flows from operating activities    
Net income $ 119 $ 327
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 160 188
Share based compensation expense 53 65
Deferred income taxes (37) 0
Impairment of assets 113 220
Changes to lease related balances, net (86) (47)
Tax deficit on exercise of share options 5 2
Amortization of deferred financing costs 4 6
Foreign currency (gains) losses (16) 4
Other non-cash charges (5) 1
Change in assets and liabilities:    
Receivables, net (43) 11
Inventories, net 99 (8)
Prepaid expenses and other current assets 67 (72)
Accounts payable 34 6
Accrued expenses and other current liabilities 80 24
Other long-term assets and liabilities (2) 25
Net cash provided by operating activities 545 752
Cash flows from investing activities    
Capital expenditures (85) (164)
Cash paid for asset acquisitions (12) (1)
Settlement of net investment hedges 0 32
Net cash used in investing activities (97) (133)
Cash flows from financing activities    
Debt borrowings 2,276 1,844
Debt repayments (3,074) (2,296)
Debt issuance costs (4) 0
Repurchase of common stock (1) (102)
Net cash used in financing activities (803) (554)
Effect of exchange rate changes on cash and cash equivalents (8) 0
Net (decrease) increase in cash and cash equivalents (363) 65
Beginning of period 592 172
End of period 229 237
Supplemental disclosures of cash flow information    
Cash paid for interest 46 67
Net cash (received) paid for income taxes (33) 75
Supplemental disclosure of non-cash investing and financing activities    
Accrued capital expenditures $ 18 $ 27