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FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES (Tables)

3 Months Ended

Jun. 28, 2024

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis as of June 28, 2024 and March 31, 2024: 

			Fair Value Measurements as of June 28, 2024
			Level 1						Level 2						Level 3						Total
			(In millions)
Assets:
Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet)			$	—					$	799					$	—					$	799
Foreign currency contracts (Note 9)			—						29						—						29
Deferred compensation plan assets:																					0
Mutual funds, money market accounts and equity securities			—						42						—						42
Liabilities:
Foreign currency contracts (Note 9)			$	—					$	(87)					$	—					$	(87)
			Fair Value Measurements as of March 31, 2024
			Level 1						Level 2						Level 3						Total
			(In millions)
Assets:
Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet)			$	—					$	759					$	—					$	759
Foreign currency contracts (Note 9)			—						59						—						59
Deferred compensation plan assets:																					0
Mutual funds, money market accounts and equity securities			—						41						—						41
Liabilities:																					0
Foreign currency contracts (Note 9)			$	—					$	(52)					$	—					$	(52)

Schedule of Debt Not Carried at Fair Value

The following table presents the Company’s major debts not carried at fair value: 

			As of June 28, 2024												As of March 31, 2024
			Carrying Amount						Fair Value						Carrying Amount						Fair Value						Fair Value Hierarchy
			(In millions)
4.750% Notes due June 2025			$	543					$	538					$	584					$	578					Level 1
3.750% Notes due February 2026			681						661						682						662						Level 1
6.000% Notes due January 2028			397						403						397						404						Level 1
4.875% Notes due June 2029			656						638						657						643						Level 1
4.875% Notes due May 2030			680						659						681						662						Level 1
3.600% HUF Bonds due December 2031			269						215						274						219						Level 2

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- References

No definition available.

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- Definition

Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

+ References

No definition available.

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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