Debt (Tables)

3 Months Ended

Jul. 05, 2019

Debt Disclosure [Abstract]

Schedule of Components of Debt

The following table summarizes components of our debt:

(In millions, except percentages)	July 5, 2019			March 29, 2019			Effective Interest Rate
4.2% Senior Notes due September 15, 2020	$	750		$	750		4.25	%
2.5% Convertible Senior Notes due April 1, 2021	500			500			3.76	%
Senior Term Loan A-5 due August 1, 2021	500			500			LIBOR plus (1)
2.0% Convertible Senior Notes due August 15, 2021	1,250			1,250			2.66	%
3.95% Senior Notes due June 15, 2022	400			400			4.05	%
5.0% Senior Notes due April 15, 2025	1,100			1,100			5.23	%
Total principal amount	4,500			4,500
Less: Unamortized discount and issuance costs	(42		)	(48		)
Total debt	4,458			4,452
Less: current portion	(494		)	(491		)
Total long-term debt	$	3,964		$	3,961

(1) The senior term facility bears interest at a rate equal to the London Interbank Offered Rate (LIBOR) plus a margin based on the current debt rating of our non-credit-enhanced, senior unsecured long-term debt and the underlying loan agreement. The interest rates for the outstanding senior term loan are as follows:

	July 5, 2019		March 29, 2019
Senior Term Loan A-5 due August 1, 2021	4.16	%	4.24	%

Schedule of Maturities of Long-term Debt

As of July 5, 2019, the future contractual maturities of debt by fiscal year are as follows:

(In millions)
Remainder of 2020	$	—
2021	1,250
2022	1,750
2023	400
2024	—
Thereafter	1,100
Total future maturities of debt	$	4,500

Schedule of Interest Expense

The following table sets forth total interest expense recognized related to our 2.5% and 2.0% Convertible Senior Notes:

	Three Months Ended
(In millions)	July 5, 2019		June 29, 2018
Contractual interest expense	$	10	$	9
Amortization of debt discount and issuance costs	$	4	$	4