Debt (Tables)

12 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Schedule of Components of Long-Term Debt

The following table summarizes components of our debt:

	March 31, 2023				April 1, 2022
(In millions, except percentages)	Amount		Effective Interest Rate		Amount		Effective Interest Rate
3.95% Senior Notes due June 15, 2022	—		N/A		400		4.05	%
New 2.00% Convertible Unsecured Notes due August 15, 2022	—		N/A		525		2.62	%
5.0% Senior Notes due April 15, 2025	1,100		5.00	%	1,100		5.00	%
Initial Term Loan due May 7, 2026	—		N/A		1,010		LIBOR plus (2)
Delayed Term Loan due May 7, 2026	—		N/A		703		LIBOR plus (2)
Term A Facility due September 12, 2027	3,861		SOFR + % (3)		—		N/A
6.75% Senior Notes due September 30, 2027	900		6.75	%	—		N/A
Term B Facility due September 12, 2029	3,431		SOFR + % (4)		—		N/A
1.29% Avira Mortgage due December 30, 2029 (1)	4		1.29	%	5		1.29	%
7.125% Senior Notes due September 30, 2030	600		7.13	%	—		N/A
0.95% Avira Mortgage due December 30, 2030 (1)	3		0.95	%	4		0.95	%
Total principal amount	9,899				3,747
Less: unamortized discount and issuance costs	(137)				(11)
Total debt	9,762				3,736
Less: current portion	(233)				(1,000)
Total long-term portion	$	9,529			$	2,736

(1)     The Avira Mortgages are denominated in a foreign currency so the balances of these mortgages may fluctuate based on changes in foreign currency exchange rates.

(2)     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.

(3)     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.

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

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

	March 31, 2023		April 1, 2022
Term A Facility due September 12, 2027	6.66	%	N/A
Term B Facility due September 12, 2029	6.91	%	N/A
Initial Term Loan due May 7, 2026	N/A		1.75	%
Delayed Term Loan due May 7, 2026	N/A		1.75	%

As of April 1, 2022, the Convertible Senior Notes consisted of the following:

	April 1, 2022
(In millions)	New 2.0% Convertible Notes
Liability component:
Principal	$	525
Unamortized discount and issuance costs	(1)
Net carrying amount	$	524
Equity component, net of tax	$	56

Schedule of Long-Term Debt for Each of the Next Five Years and Thereafter

As of March 31, 2023, the future contractual maturities of debt by fiscal year are as follows:

(In millions)
2024	$	233
2025	234
2026	1,333
2027	233
2028	4,017
Thereafter	3,849
Total future maturities of debt	$	9,899

Schedule of Interest Income and Interest Expense Disclosure

The following table sets forth total interest expense recognized related to our convertible notes:

	Year Ended
(In millions)	March 31, 2023		April 1, 2022		April 2, 2021
Contractual interest expense	$	4	$	12	$	20
Amortization of debt discount and issuance costs	$	—	$	4	$	4
Payments in lieu of conversion price adjustments (1)	$	1	$	8	$	12

(1) Payments in lieu of conversion price adjustments consist of amounts paid to holders of the Convertible Senior Notes when our quarterly dividend to our common stockholders exceeds the amounts defined in the Convertible Senior Notes agreements.