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Derivatives (Tables)
9 Months Ended
Dec. 27, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments
The following table summarizes our outstanding derivative instruments as of December 27, 2024 and March 29, 2024:
Notional AmountFair Value of Derivative AssetsFair Value of Derivative Liabilities
(In millions)December 27, 2024March 29, 2024December 27, 2024March 29, 2024December 27, 2024March 29, 2024
Foreign exchange contracts not designated as hedging instrument (1)
$242 $345 $— $— $— $— 
Interest rate swap contracts designated as cash flow hedge
1,000 1,000 16 — — 
Total$1,242 $1,345 $$16 $— $— 
(1) The fair values of the foreign exchange contracts are less than $1 million as of December 27, 2024 and March 29, 2024.
Schedule of Effect of Cash Flow Hedges on AOCI
The following table summarizes the effect of our cash flow hedges on AOCI during the periods indicated:
Three Months EndedNine Months Ended
(In millions)December 27, 2024December 29, 2023December 27, 2024December 29, 2023
Interest rate swap contracts designated as cash flow hedge
$(12)$15 $(1)$(17)
Schedule of Derivative Instruments, Gain (Loss)
The related gain (loss) recognized in our Condensed Consolidated Statements of Operations was as follows:
Three Months EndedNine Months EndedCondensed Consolidated Statements of Operations Classification
(In millions)December 27, 2024December 29, 2023December 27, 2024December 29, 2023
Foreign exchange contracts not designated as hedging instrument$(7)$$(5)$(6)Other income (expense), net
Interest rate swap contracts designated as cash flow hedge
11 11 Interest expense
Total$(4)$$$