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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Jun. 26, 2021
Jun. 27, 2020
Cash flows from operating activities    
Net income (loss) $ 219 $ (180)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 50 54
Share based compensation expense 36 24
Deferred income taxes 22 0
Changes to lease related balances, net (36) (24)
Tax (benefit) deficit on exercise of share options (3) 5
Amortization of deferred financing costs 1 1
Foreign currency gains (12) (3)
Credit losses (1) (6)
Change in assets and liabilities:    
Receivables, net (7) 131
Inventories, net (17) (119)
Prepaid expenses and other current assets (9) 15
Accounts payable (40) 167
Accrued expenses and other current liabilities (6) 0
Other long-term assets and liabilities 7 2
Net cash provided by operating activities 204 67
Cash flows from investing activities    
Capital expenditures (23) (32)
Net cash used in investing activities (23) (32)
Cash flows from financing activities    
Debt borrowings 59 396
Debt repayments (70) (811)
Debt issuance costs 0 (4)
Repurchase of common stock (59) (1)
Exercise of employee share options 7 0
Other financing activities 8 0
Net cash used in financing activities (55) (420)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (2) 0
Net increase (decrease) in cash, cash equivalents and restricted cash 124 (385)
Beginning of period 234 592
End of period 358 207
Supplemental disclosures of cash flow information    
Cash paid for interest 17 20
Net cash paid (received) for income taxes 28 (6)
Supplemental disclosure of non-cash investing and financing activities    
Accrued capital expenditures $ 14 $ 20