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RESTRUCTURING CHARGES

6 Months Ended

Sep. 27, 2024

Restructuring Charges [Abstract]

RESTRUCTURING CHARGES

RESTRUCTURING CHARGES

During the three and six-month periods ended September 27, 2024, the Company recognized approximately $18 million and $43 million of restructuring charges, respectively, most of which related to employee severance.

The following table summarizes the provisions, respective payments, and remaining accrued balance as of September 27, 2024 for charges incurred during the six-month period ended September 27, 2024:

			Severance						Long-Lived Asset Impairment						Other Exit Costs						Total
			(In millions)
Balance as of March 31, 2024			$	77					$	—					$	3					$	80
Provision for charges incurred during the six-month period ended September 27, 2024			42						1						—						43
Cash payments during the six-month period ended September 27, 2024			(34)						—						—						(34)
Non-cash reductions during the six-month period ended September 27, 2024			—						(1)						—						(1)
Other adjustments			(2)						—						—						(2)
Balance as of September 27, 2024			83						—						3						86
Less: Current portion (classified as other current liabilities)			83						—						3						86
Accrued restructuring costs, net of current portion (classified as other liabilities)			$	—					$	—					$	—					$	—

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- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 5.P.4.e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/420/tableOfContent

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 420
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482017/420-10-50-1

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- References

No definition available.

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