Debt (Tables)

6 Months Ended

Sep. 30, 2022

The following table summarizes components of our debt:


(In millions, except percentages)	September 30, 2022		April 1, 2022		Effective Interest Rate
3.95% Senior Notes due June 15, 2022	$	—	$	400	4.05	%
New 2.00% Convertible Unsecured Notes due August 15, 2022	—		525		2.62	%
5.00% Senior Notes due April 15, 2025	1,100		1,100		5.00	%
Initial Term Loan due May 7, 2026	—		1,010		LIBOR plus (3)
Delayed Term loan due May 7, 2026	—		703		LIBOR plus (3)
Term A Facility due September 12, 2027	3,910		—		SOFR + % (1)
6.75% Senior Notes due September 30, 2027	900		—		6.75	%
Term B Facility due September 12, 2029	3,690		—		SOFR + % (2)
1.29% Avira Mortgage due December 30, 2029	4		5		1.29	%
7.125% Senior Notes due September 30, 2030	600		—		7.13	%
0.95% Avira Mortgage due December 30, 2030	3		4		0.95	%
Total principal amount	10,207		3,747
Less: unamortized discount and issuance costs	(149)		(11)
Total debt	10,058		3,736
Less: current portion	(175)		(1,000)
Total long-term debt	$	9,883	$	2,736

(1) Term A Facility due 2027 bears interest at a rate equal to Term SOFR plus a credit spread adjustment (CSA) plus a margin based either on the current debt rating of our non-credit-enhanced, senior unsecured long-term debt or consolidated adjusted leverage as defined in the underlying loan agreement.

(2) Term B Facility due 2029 bears interest at a rate equal to Term SOFR plus CSA plus 2.00%.

(3) The term loans bear interest at a rate equal to LIBOR plus a margin based either on the current debt rating of our non-credit-enhanced, senior unsecured long-term debt or consolidated adjusted leverage as defined in the underlying loan agreement.

The interest rates for the outstanding term loans are as follows:


	September 30, 2022		April 1, 2022
Term A Facility due September 12, 2027	4.77	%	—	%
Term B Facility due September 12, 2029	4.85	%	—	%
Initial Term Loan due May 7, 2026	—	%	1.75	%
Delayed Term Loan due May 7, 2026	—	%	1.75	%

Schedule of Maturities of Long-term Debt

As of September 30, 2022, the future contractual maturities of debt by fiscal year are as follows:


(In millions)
Remainder of 2023	$	59
2024	233
2025	234
2026	1,333
2027	233
Thereafter	8,115
Total future maturities of debt	$	10,207

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details