Leases

12 Months Ended

Mar. 29, 2024

Leases [Abstract]

Leases

Leases

We lease certain of our facilities, equipment, and data center co-locations under operating leases that expire on various dates through fiscal 2030. Our leases generally have terms that range from 1 year to 8 years for our facilities, 1 year to 4 years for equipment and 1 year to 5 years for data center co-locations. Some of our leases contain renewal options, escalation clauses, rent concessions and leasehold improvement incentives.

The following summarizes our lease costs for fiscal 2024, 2023 and 2022:

	Year Ended
(In millions)	March 29, 2024		March 31, 2023		April 1, 2022
Operating lease costs	$	12	$	16	$	16
Short-term lease costs	3		2		2
Variable lease costs	6		8		6
Total lease costs	$	21	$	26	$	24

Other information related to our operating leases for fiscal 2024, 2023 and 2022 was as follows:

	Year Ended
	March 29, 2024		March 31, 2023		April 1, 2022
Weighted-average remaining lease term	4.6 years		2.8 years		4.7 years
Weighted-average discount rate	5.35	%	4.38	%	4.04	%

See Note 7 for cash flow information related to our operating leases.

As of March 29, 2024, the maturities of our lease liabilities by fiscal year are as follows:

(In millions)
2025	$	15
2026	12
2027	12
2028	7
2029	6
Thereafter	5
Total lease payments	57
Less: Imputed interest	(6)
Present value of lease liabilities	$	51