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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Dec. 25, 2021
Dec. 26, 2020
Cash flows from operating activities    
Net income $ 742 $ 119
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 146 160
Share based compensation expense 69 53
Deferred income taxes 78 (37)
Impairment of assets 43 113
Changes to lease related balances, net (95) (86)
Tax (benefit) expense on exercise of share options (3) 5
Amortization of deferred financing costs 5 4
Foreign currency gains (7) (16)
Credit losses 2 (5)
Change in assets and liabilities:    
Receivables, net (84) (43)
Inventories, net (257) 99
Prepaid expenses and other current assets (204) 67
Accounts payable 94 34
Accrued expenses and other current liabilities 165 80
Other long-term assets and liabilities 19 (2)
Net cash provided by operating activities 713 545
Cash flows from investing activities    
Capital expenditures (85) (85)
Cash paid for asset acquisitions 0 (12)
Settlement of net investment hedges 59 0
Net cash used in investing activities (26) (97)
Cash flows from financing activities    
Debt borrowings 501 2,276
Debt repayments (846) (3,074)
Debt issuance costs 0 (4)
Repurchase of ordinary shares (360) (1)
Exercise of employee share options 11 0
Other financing activities 31 0
Net cash used in financing activities (663) (803)
Effect of exchange rate changes on cash, cash equivalents and restricted cash 6 (8)
Net increase (decrease) in cash, cash equivalents and restricted cash 30 (363)
Beginning of period 234 592
End of period 264 229
Supplemental disclosures of cash flow information    
Cash paid for interest 35 46
Net cash paid (received) for income taxes 49 (33)
Supplemental disclosure of non-cash investing and financing activities    
Accrued capital expenditures $ 24 $ 18