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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Dec. 31, 2022
Dec. 25, 2021
Cash flows from operating activities    
Net income $ 652 $ 742
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 131 146
Share-based compensation expense 60 69
Deferred income taxes (10) 78
Impairment of assets 12 43
Changes to lease related balances, net (87) (95)
Foreign currency loss (gain) 10 (7)
Other non-cash adjustments 4 4
Change in assets and liabilities:    
Receivables, net 48 (84)
Inventories, net (124) (257)
Prepaid expenses and other current assets (60) (204)
Accounts payable (31) 94
Accrued expenses and other current liabilities 45 165
Other long-term assets and liabilities (34) 19
Net cash provided by operating activities 616 713
Cash flows from investing activities    
Capital expenditures (168) (85)
Settlement of net investment hedges 409 59
Net cash provided by (used in) investing activities 241 (26)
Cash flows from financing activities    
Debt borrowings 3,433 501
Debt repayments (3,121) (846)
Debt issuance costs (5) 0
Repurchase of ordinary shares (964) (360)
Exercise of employee share options 6 11
Other financing activities 0 31
Net cash used in financing activities (651) (663)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (94) 6
Net increase in cash, cash equivalents and restricted cash 112 30
Beginning of period 172 234
End of period 284 264
Supplemental disclosures of cash flow information    
Cash paid for interest 47 35
Net cash paid for income taxes 113 49
Supplemental disclosure of non-cash investing and financing activities    
Accrued capital expenditures $ 51 $ 24