XML 60 R42.htm IDEA: XBRL DOCUMENT v3.23.1
Stock-Based Compensation and Benefit Plans (Tables)
12 Months Ended
Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]  
Schedule of Restricted Stock Units Activities
RSUs
(In millions, except per share and year data)Number of
Shares
Weighted-
Average
Grant Date Fair Value
Outstanding as of April 1, 2022$21.80 
Granted$22.38 
Vested(3)$21.12 
Forfeited(1)$22.38 
Outstanding as of March 31, 2023$22.45 
Schedule of PRUs Activity
PRUs
(In millions, except per share and year data)Number of
Shares
Weighted-
Average
Grant Date Fair Value
Outstanding and unvested as of April 1, 2022$28.50 
Granted$27.07 
Vested (1)
— $31.75 
Forfeited(1)$26.70 
Unvested at March 31, 2023$28.01 
Vested and unreleased as of March 31, 2023
Outstanding as of March 31, 2023
(1) The number of shares is less than 1 million.
Schedule Of PRUs Valuation Assumptions The valuation and the underlying weighted-average assumptions for PRUs are summarized below:
 Year Ended
March 31, 2023April 1, 2022April 2, 2021
Expected term3.3 years3.9 years2.7 years
Expected volatility34.8 %37.6 %42.5 %
Risk-free interest rate3.4 %1.0 %0.2 %
Expected dividend yield1.3 %— %— %
Weighted-average grant date fair value of PRUs$27.07$28.68$26.39
Schedule of Stock Option Activities
Stock options
(In millions, except per share and year data)Number of
Shares
Weighted-Average Exercise PriceWeighted-
Average
Remaining Contractual Term
(Years)
Aggregate Intrinsic
Value
Outstanding as of April 1, 2022 (1)
— $5.51 
Exercised (1)
— $4.43 
Forfeited and expired (1)
— $2.58 
Outstanding as of March 31, 2023 (1)
— $5.97 
Exercisable as of March 31, 2023 (1)
— $5.97 3.84$
(1) The number of shares is less than 1 million.
Schedule of ESPP Activities
The following table summarizes activity related to the purchase rights issued under the ESPP:
 Year Ended
(In millions)March 31, 2023April 1, 2022April 2, 2021
Shares issued under the ESPP
Proceeds from issuance of shares$12 $13 $14 
Schedule of Stock-based Compensation Expense
The following table summarizes the stock-based compensation expense recognized as a result of these modifications:
Year Ended
(In millions)
April 2, 2021
Sales and marketing$
Research and development
General and administrative
Restructuring and other costs10 
Discontinued operations
Total stock-based compensation$30 
Total stock-based compensation expense and the related income tax benefit recognized for all of our equity incentive plans in our Consolidated Statements of Operations were as follows:
 Year Ended
(In millions)March 31, 2023April 1, 2022April 2, 2021
Cost of revenues$$$
Sales and marketing34 19 18 
Research and development31 19 26 
General and administrative55 30 26 
Restructuring and other costs11 — 10 
Other income (expense), net— — (1)
Total stock-based compensation from continuing operations134 70 80 
Discontinued operations— — 
Total stock-based compensation expense$134 $70 $81 
Income tax benefit for stock-based compensation expense$(20)$(11)$(18)
Schedule of Employer 401K Contributions Our employer matching contributions to the 401(k) plan were as follows, including contributions to employees of our discontinued operations:
 Year Ended
(In millions)March 31, 2023April 1, 2022April 2, 2021
401(k) matching contributions$$$