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BANK BORROWINGS AND LONG-TERM DEBT | 6 Months Ended
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Sep. 27, 2024
Debt Disclosure [Abstract] |
BANK BORROWINGS AND LONG-TERM DEBT | BANK BORROWINGS AND LONG-TERM DEBT Bank borrowings and long-term debt as of September 27, 2024 and March 31, 2024 are as follows:
| Maturity Date |  | As of September 27, 2024 |  | As of March 31, 2024
|  |  | (In millions)
4.750% Notes (1) | June 2025 |  | $ | 532 |  |  | $ | 584 |
3.750% Notes (1) | February 2026 |  | 680 |  |  | 682 |
6.000% Notes (1) | January 2028 |  | 397 |  |  | 397 |
4.875% Notes (1) | June 2029 |  | 656 |  |  | 657 |
4.875% Notes (1) | May 2030 |  | 678 |  |  | 681 |
5.250% Notes (1) | January 2032 |  | 499 |  |  | — |
3.600% HUF Bonds (2) | December 2031 |  | 283 |  |  | 274 |
Other |  |  | 1 |  |  | 1 |
Debt issuance costs |  |  | (17) |  |  | (15) |
|  |  | 3,709 |  |  | 3,261 |
Current portion, net of debt issuance costs |  |  | (531) |  |  | — |
Non-current portion |  |  | $ | 3,178 |  |  | $ | 3,261 |
(1)The notes are carried at the principal amount of each note, less any unamortized discount or premium and unamortized debt issuance costs. The notes are the Company’s senior unsecured obligations and rank equally with all other existing and future senior unsecured debt obligations. (2)The bonds mature in December 2031 with annual payments equal to 10% of the original principal amount thereof on each of the seventh, eighth, and ninth anniversaries of the bonds, with the remaining 70% due upon maturity. The weighted-average interest rate for the Company's long-term debt was 4.6% and 4.5% as of September 27, 2024 and March 31, 2024, respectively. Scheduled repayments of the Company's bank borrowings and long-term debt as of September 27, 2024 are as follows:
Fiscal Year Ending March 31, |  | Amount
|  | (In millions)
2025 (1) |  | $ | — |
2026 |  | 1,212 |
2027 |  | — |
2028 |  | 397 |
2029 |  | 28 |
Thereafter |  | 2,089 |
Total |  | $ | 3,726 |
(1)Represents estimated repayments for the remaining fiscal six-month period ending March 31, 2025. Notes due January 2032 In August 2024, the Company issued $500 million of 5.250% Notes due 2032 (the “Notes”). The Company received proceeds of approximately $496 million, net of discount and certain issuance costs. The Company incurred and capitalized as a direct reduction to the carrying amount of the Notes presented on the balance sheet of approximately $5 million of costs incurred in conjunction with the Notes issuance. Interest on the Notes is payable on January 15 and July 15 of each year, beginning on January 15, 2025. The indenture governing the Notes contains covenants that, among other things, restrict the ability of the Company and certain of the Company's subsidiaries to create liens; enter into sale-leaseback transactions; and consolidate or merge with, or convey, transfer or lease all or substantially all of the Company's assets to, another person, or permit any other person to consolidate, merge, combine or amalgamate with or into the Company. These covenants are subject to a number of significant limitations and exceptions set forth in the indenture. The indenture also provides for customary events of default, including, but not limited to, cross defaults to certain specified other debt of the Company and its subsidiaries. In the case of an event of default arising from specified events of bankruptcy or insolvency, all outstanding Notes will become due and payable immediately without further action or notice. If any other event of default under the indenture occurs or is continuing, the trustee or holders of at least 25% in aggregate principal amount of the then outstanding Notes may declare the entire principal of Notes, together with all accrued and unpaid interest, if any, to be due and payable immediately, but upon certain conditions such declaration and its consequences may be rescinded and annulled by the holders of a majority in principal amount of the Notes. As of September 27, 2024, the Company was in compliance with the covenants in the indenture governing the Notes.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481544/470-10-50-6 Reference 2: 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