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Fair Value Measurements (Tables)
3 Months Ended
Jul. 01, 2023
Fair Value Disclosures [Abstract]  
Schedule of 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 July 1, 2023 using:
Fair value at April 1, 2023 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:
Net investment hedges$— $$— $— $$— 
Fair value hedges— — — — — 
Total derivative assets$— $$— $— $$— 
Derivative liabilities:
Net investment hedges$— $93 $— $— $36 $— 
Fair value hedges— — — — 
Total derivative liabilities$— $96 $— $— $39 $— 
Fair Value Measurement of Long-term Debt The following table summarizes the carrying values and estimated fair values of the Company’s long-term debt, based on Level 2 measurements (in millions):
July 1, 2023April 1, 2023
Carrying
Value
Estimated
Fair Value
Carrying
Value
Estimated
Fair Value
Revolving Credit Facilities$973 $973 $874 $874 
Versace Term Loan$490 $486 $487 $481 
Senior Notes due 2024$449 $432 $449 $435