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Stockholders' Equity
12 Months Ended
Mar. 28, 2014
Shareholders' Equity [Abstract]  
Shareholders' Equity
Stockholders’ Equity

Stock Repurchase Program

In December 2010, the Company’s Board of Directors approved a share repurchase program authorizing up to $1 billion in share repurchases of the Company’s outstanding common stock. CSC has been implementing the program through purchases in compliance with Securities and Exchange Commission rules, market conditions, and applicable federal and state legal requirements. The timing, volume, and nature of share repurchases will be at the discretion of management, and may be suspended or discontinued at any time. No end date was established for the repurchase program.

During fiscal 2014, 9,773,469 shares were purchased through open market purchases for an aggregate consideration of $505 million at a weighted average price of $51.65 per share. Of the aggregate consideration of $505 million, $6 million was recorded as an accrued liability for shares purchased but not yet settled in cash by March 28, 2014. The Company also paid $22 million during the first quarter of fiscal 2014 for share purchased during the fourth quarter of fiscal 2013 that had not yet settled as of March 29, 2013.

During fiscal 2013, 6,707,652 shares were purchased through open market purchases for an aggregate consideration of $305 million at a weighted average price of $45.47 per share. Of the aggregate consideration of $305 million, $22 million was recorded as an accrued liability for shares purchased but not yet settled in cash by March 29, 2013.

During fiscal 2012, no shares were purchased through open market purchases.

The shares repurchased were retired immediately and included in the category of authorized but unissued shares. The excess of purchase price over par value of the shares repurchased was allocated between additional paid-in capital and retained earnings.

Treasury Stock Transactions

In fiscal 2014, the Company accepted 168,739 shares of its common stock in lieu of cash in connection with exercise of stock options, and 160,753 shares in lieu of cash in connection with the tax withholdings associated with the release of common stock upon vesting of restricted stock and restricted stock units.

Similarly, in fiscal 2013, the Company accepted 91,921 shares of its common stock in lieu of cash in connection with exercise of stock options, and 209,056 shares in lieu of cash in connection with the tax withholdings associated with the release of common stock upon vesting of restricted stock and restricted stock units.

Dividends

During fiscal 2014, the Company declared cash dividends per common share of $0.80 totaling $118 million. Of the total dividends declared, $29 million was declared but unpaid as of March 28, 2014. Such dividends were paid on April 17, 2014.

Similarly, during fiscal 2013, the Company declared cash dividends per common share of $0.80 totaling $123 million. Of the total dividends declared, $30 million was unpaid as of March 29, 2013.

Accumulated Other Comprehensive Income

The following tables show the activity in the components of other comprehensive loss, including the respective tax effects, and reclassification adjustments for the years ended March 28, 2014, March 29, 2013, and March 30, 2012, respectively:
For the year ended March 28, 2014
(Amounts in millions)
 
Before Tax Amount
 
Tax Impact Increase/(Decrease)
 
Net of Tax Amount
 
 
(As Adjusted)
 
(As Adjusted)
 
(As Adjusted)
Foreign currency translation adjustments (loss)
 
$
(79
)
 
$
(2
)
 
$
(81
)
Pension and other post-retirement benefit plans adjustments:
 
 
 
 
 
 
Prior service credit (1)
 
265

 
—

 
265

Amortization of transition obligation (2)
 
1

 
—

 
1

Amortization of prior service (cost) (2)
 
(5
)
 
1

 
(4
)
Foreign currency exchange (loss) gain
 
2

 
—

 
2

Total pension and other post-retirement benefit plans gain
 
263

 
1

 
264

Total other comprehensive income
 
$
184

 
$
(1
)
 
$
183

(1)
Represents the result of remeasurement of the pension liability primarily associated with plans in the U.K. (see Note 16).
(2)
Represents current period reclassification out of accumulated other comprehensive loss. The reclassified amounts are included in the net periodic pension cost and net periodic post-retirement benefit cost (see Note 16).

For the year ended March 29, 2013
(Amounts in millions)
 
Before Tax Amount
 
Tax Impact Increase/(Decrease)
 
Net of Tax Amount
 
 
(As Adjusted)
 
(As Adjusted)
 
(As Adjusted)
Foreign currency translation adjustments (loss)
 
$
(104
)
 
$
12

 
$
(92
)
Pension and other post-retirement benefit plans:
 
 
 
 
 
 
Prior service credit
 
27

 
(8
)
 
19

Amortization of transition obligation (1)
 
1

 
—

 
1

Amortization of prior service (cost) (1)
 
(1
)
 
1

 
—

Foreign currency exchange (loss)
 
—

 
(8
)
 
(8
)
Total pension and other post-retirement benefit plans
 
27

 
(15
)
 
12

Total other comprehensive loss
 
$
(77
)
 
$
(3
)
 
$
(80
)
(1)
Represents current period reclassification out of accumulated other comprehensive loss. The reclassified amounts are included in the net periodic pension cost and net periodic post-retirement benefit cost (see Note 16).

For the year ended March 30, 2012
(Amounts in millions)
 
Before Tax Amount
 
Tax Impact Increase/(Decrease)
 
Net of Tax Amount
 
 
(As Adjusted)
 
(As Adjusted)
 
(As Adjusted)
Foreign currency translation adjustments (loss)
 
$
(121
)
 
$
(1
)
 
$
(122
)
Pension and other post-retirement benefit plans:
 
 
 
 
 
 
Prior service (cost)
 
(10
)
 
6

 
(4
)
Amortization of transition obligation (1)
 
2

 
—

 
2

Amortization of prior service (costs) (1)
 
(3
)
 
1

 
(2
)
Foreign currency exchange (loss)
 
(2
)
 
—

 
(2
)
Total pension and other post-retirement benefit plans
 
(13
)
 
7

 
(6
)
Total other comprehensive (loss)
 
$
(134
)
 
$
6

 
$
(128
)
(1)
Represents current period reclassification out of accumulated other comprehensive loss. The reclassified amounts are included in the net periodic pension cost and net periodic post-retirement benefit cost (see Note 16).

The following table shows the changes in accumulated other comprehensive gain (loss) for fiscal 2014, 2013, and 2012:
(Amounts in millions)
 
Foreign Currency Translation Adjustments
 
Pension and Other Postretirement Benefit Plans
 
Accumulated Other Comprehensive Income (Loss)
 
 
(As Adjusted)
 
(As Adjusted)
 
(As Adjusted)
Balance at April 1, 2011
 
$
279

 
27

 
306

Current-period other comprehensive (loss), net of taxes
 
(122
)
 
(6
)
 
(128
)
Amounts reclassified from accumulated other comprehensive loss and other, net of taxes
 
10

 
—

 
10

Balance at March 30, 2012
 
$
167

 
21

 
188

Current-period other comprehensive income (loss), net of taxes
 
(92
)
 
11

 
(81
)
Amounts reclassified from accumulated other comprehensive loss, net of taxes
 
—

 
1

 
1

Balance at March 29, 2013
 
$
75

 
$
33

 
$
108

Current-period other comprehensive (loss) income, net of taxes
 
(81
)
 
267

 
186

Amounts reclassified from accumulated other comprehensive loss, net of taxes
 
—

 
(15
)
 
(15
)
Balance at March 28, 2014
 
$
(6
)
 
$
285

 
$
279