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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Jul. 01, 2023
Jul. 02, 2022
Cash flows from operating activities    
Net income $ 48 $ 203
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 45 45
Share-based compensation expense 30 28
Deferred income taxes (2) 1
Changes to lease related balances, net (29) (33)
Foreign currency loss 20 1
Other non-cash adjustments 2 1
Change in assets and liabilities:    
Receivables, net 68 26
Inventories, net (122) (209)
Prepaid expenses and other current assets (26) (13)
Accounts payable 1 6
Accrued expenses and other current liabilities 10 87
Other long-term assets and liabilities (5) (6)
Net cash provided by operating activities 40 137
Cash flows from investing activities    
Capital expenditures (50) (36)
Settlement of net investment hedges 0 66
Net cash (used in) provided by investing activities (50) 30
Cash flows from financing activities    
Debt borrowings 593 1,350
Debt repayments (491) (1,090)
Debt issuance costs 0 (4)
Repurchase of ordinary shares (106) (312)
Exercise of employee share options 1 6
Net cash used in financing activities (3) (50)
Effect of exchange rate changes on cash, cash equivalents and restricted cash (3) (65)
Net (decrease) increase in cash, cash equivalents and restricted cash (16) 52
Beginning of period 256 172
End of period 240 224
Supplemental disclosures of cash flow information    
Cash paid for interest 22 18
Net cash paid (received) for income taxes 15 (72)
Supplemental disclosure of non-cash investing and financing activities    
Accrued capital expenditures $ 27 $ 43