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Debt (Tables)
 12 Months Ended
Apr. 03, 2020
Debt Disclosure [Abstract]  
Schedule of Components of Long-Term Debt
As of April 3, 2020 and March 29, 2019, the Convertible Senior Notes consisted of the following:
 
April 3, 2020
 
March 29, 2019
(In millions)
New 2.5% Convertible Notes
 
2.0% Convertible Notes (1)
 
New 2.0% Convertible Notes
 
2.5% Convertible Notes
 
2.0% Convertible Notes
Liability component:
 
 
 
 
 
 
 
 
 
Principal
$
250

 
$
625

 
$
625

 
$
500

 
$
1,250

Unamortized discount and issuance costs
(1
)
 
(6
)
 
(9
)
 
(25
)
 
(59
)
Net carrying amount
$
249

 
$
619

 
$
616

 
$
475

 
$
1,191

 
 
 
 
 
 
 
 
 
 
Equity component, net of tax
$
43

 
$
12

 
$
56

 
$
17

 
$
24

 
(1) In May 2020, we settled $625 million of our 2.0% Convertible Notes for $1.18 billion, which included a cash settlement of the equity conversion feature and payments for accrued and unpaid interests and dividend. See Note 19 for more information on the settlement.
The following table summarizes components of our debt:
 
April 3, 2020
 
March 29, 2019
(In millions, except percentages)
Amount
 
Effective
Interest Rate
 
Amount
 
Effective
Interest Rate
4.2% Senior Notes due September 15, 2020
750

 
4.25
%
 
750

 
4.25
%
Senior Term Loan A-5 due August 1, 2021
—

 
N/A

 
500

 
LIBOR plus (1)

2.5% Convertible Senior Notes due April 1, 2022
—

 
N/A

 
500

 
3.76
%
New 2.5% Convertible Senior Notes due April 1, 2022
250

 
2.63
%
 
—

 
N/A

3.95% Senior Notes due June 15, 2022
400

 
4.05
%
 
400

 
4.05
%
2.0% Convertible Senior Notes due August 15, 2022
625

 
2.66
%
 
1,250

 
2.66
%
New 2.0% Convertible Senior Notes due August 15, 2022
625

 
2.62
%
 
—

 
N/A

Term Loan due November 4, 2024
500

 
LIBOR plus (1)

 
—

 
N/A

5.0% Senior Notes due April 15, 2025
1,100

 
5.23
%
 
1,100

 
5.23
%
Total principal amount
4,250

 
 
 
4,500

 
 
Less: unamortized discount and issuance costs
(29
)
 
 
 
(48
)
 
 
Total debt
4,221

 
 
 
4,452

 
 
Less: current portion
(756
)
 
 
 
(491
)
 
 
Total long-term portion
$
3,465

 
 
 
$
3,961

 
 
 
(1)
The term loans bear interest at a rate equal to the LIBOR plus a margin based on the current debt rating of our non-credit-enhanced, senior unsecured long-term debt, and our underlying loan agreements. The interest rates for the outstanding term loans are as follows:
 
April 3, 2020
 
March 29, 2019
Senior Term Loan A-5 due August 1, 2021
N/A

 
4.24
%
Term Loan due November 4, 2024
2.88
%
 
N/A
Schedule of Long-Term Debt for Each of the Next Five Years and Thereafter
As of April 3, 2020, the future contractual maturities of debt by fiscal year are as follows:
(In millions)
 
2021
 
$
756

2022
 
275

2023
 
1,675

2024
 
25

2025
 
419

Thereafter
 
1,100

Total future maturities of debt
$
4,250
Interest Income and Interest Expense Disclosure
The following table sets forth total interest expense recognized related to our convertible notes:
 
Year Ended
(In millions)
April 3, 2020

 
March 29, 2019

 
March 30, 2018
Contractual interest expense
$
37

 
$
38

 
$
38

Amortization of debt discount and issuance costs
$
13

 
$
16

 
$
16

Payments in lieu of conversion price adjustments
$
11

 
$
—

 
$
—