Derivative Financial Instruments (Tables)

12 Months Ended

Mar. 29, 2025

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Fair Value of Derivative Contracts Recorded on Gross Basis in Consolidated Balance Sheets

The following table details the fair value of the Company’s derivative contracts, which are recorded on a gross basis in the consolidated balance sheets as of March 29, 2025 and March 30, 2024 (in millions):

					Fair Values
	Notional Amounts				Assets					Liabilities
	March 29, 2025		March 30, 2024		March 29, 2025		March 30, 2024			March 29, 2025			March 30, 2024
Designated forward foreign currency exchange contracts	$	50	$	—	$	—	$	—		$	2	(1)	$	—
Designated net investment hedges	5,864		3,850		—		12		(2)	289		(3)	88		(3)
Total hedges	$	5,914	$	3,850	$	—	$	12		$	291		$	88

(1)Recorded within accrued expenses and other current liabilities on the Company’s consolidated balance sheets.

(2)Recorded within other assets on the Company’s consolidated balance sheets.

(3)As of March 29, 2025, the Company recorded $12 million within accrued expenses and other current liabilities and $277 million within other long-term liabilities on the Company’s consolidated balance sheets. As of March 30, 2024, the Company recorded $3 million within accrued expenses and other current liabilities and $85 million within other long-term liabilities on the Company’s consolidated balance sheets.

Schedule of Derivative Instruments on The Balance Sheets, Net Basis

However, if the Company were to offset and record the asset and liability balances for its derivative instruments on a net basis in accordance with the terms of its master netting arrangements, which provide for the right to set-off amounts for similar transactions denominated in the same currencies and with the same banks, the resulting impact as of March 29, 2025 and March 30, 2024 would be as follows (in millions):

	Forward Currency Exchange Contracts				Net Investment Hedges
	March 29, 2025		March 30, 2024		March 29, 2025		March 30, 2024
Assets subject to master netting arrangements	$	—	$	—	$	—	$	12
Liabilities subject to master netting arrangements	$	2	$	—	$	289	$	88
Derivative assets, net	$	—	$	—	$	—	$	8
Derivative liabilities, net	$	2	$	—	$	289	$	84

Schedule of Reclassification out of Accumulated Other Comprehensive Income

The following table summarizes the pre-tax impact of the gains and losses on the Company’s designated forward foreign currency exchange contracts, net investment hedges, interest rate swaps and fair value hedges (in millions): 

	Fiscal Year Ended March 29, 2025		Fiscal Year Ended March 30, 2024		Fiscal Year Ended April 1, 2023
	Pre-Tax Losses Recognized in OCI		Pre-Tax Losses Recognized in OCI		Pre-Tax Gains/(Losses) Recognized in OCI
Designated forward foreign currency exchange contracts	$	—	$	—	$	8
Designated net investment hedges	$	(129)	$	(17)	$	338
Designated interest rate swaps	$	(12)	$	—	$	—
Designated fair value hedges	$	—	$	(8)	$	(6)

The following tables summarize the pre-tax impact of the gains and losses within the consolidated statements of operations and comprehensive (loss) income related to the designated forward foreign currency exchange contracts and the designated fair value hedges (in millions):

	Fiscal Year Ended
	Pre-Tax (Gains) Losses Reclassified from Accumulated OCI						Location of (Gains) Losses Recognized
	March 29, 2025		March 30, 2024		April 1, 2023
Designated forward foreign currency exchange contracts	$	—	$	(4)	$	(14)	Cost of goods sold
Designated fair value hedges	$	—	$	14	$	—	Foreign currency loss