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Financial Instruments (Tables) | 12 Months Ended
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Mar. 29, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Company's outstanding derivative instruments on a gross basis as recorded on its consolidated balance sheets | The following table summarizes the Company's outstanding derivative instruments on a gross basis as recorded in the consolidated balance sheets as of March 29, 2014 and March 30, 2013:
|  | Notional Amounts |  | Derivative Assets |  | Derivative Liabilities |
Derivative Instrument(a) |  | March 29, 2014 |  | March 30, 2013 |  | March 29, 2014 |  | March 30, 2013 |  | March 29, 2014 |  | March 30, 2013 |
|  |  |  |  |  | Balance Sheet Line(b) |  | Fair Value |  | Balance Sheet Line(b) |  | Fair Value |  | Balance Sheet Line(b) |  | Fair Value |  | Balance Sheet Line(b) |  | Fair Value |
|  | (millions) |
Designated Hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FC — Inventory purchases |  | $ | 476 |  |  | $ | 366 |  |  | (c) |  | $ | 2 |  |  | PP |  | $ | 14 |  |  | AE |  | $ | (5 | ) |  | AE |  | $ | (2 | ) |
FC — Other(d) |  | 223 |  |  | 25 |  |  | — |  | — |  |  | — |  | — |  |  | AE |  | (2 | ) |  | AE |  | (1 | ) |
NI — Euro Debt |  | — |  |  | 140 |  |  | — |  | N/A |  |  | — |  | (e) |  | — |  | N/A |  |  | — |  | (e) |
Total Designated Hedges |  | $ | 699 |  |  | $ | 531 |  |  |  |  | $ | 2 |  |  |  |  | $ | 14 |  |  |  |  | $ | (7 | ) |  |  |  | $ | (3 | ) |
Undesignated Hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FC — Other(f) |  | $ | 280 |  |  | $ | 270 |  |  | (g) |  | $ | 6 |  |  | PP |  | $ | 1 |  |  | — |  | $ | — |  |  | AE |  | $ | (2 | ) |
Total Hedges |  | $ | 979 |  |  | $ | 801 |  |  |  |  | $ | 8 |  |  |  |  | $ | 15 |  |  |  |  | $ | (7 | ) |  |  |  | $ | (5 | ) |
(a) | FC = Forward foreign currency exchange contracts; NI = Net Investment Hedge; Euro Debt = Euro-denominated 4.5% notes that matured on October 4, 2013.
(b) | PP = Prepaid expenses and other current assets; AE = Accrued expenses and other current liabilities.
(c) | $1 million included within prepaid expenses and other current assets and $1 million included within other non-current assets.
(d) | Primarily designated hedges of foreign currency-denominated intercompany royalty payments, marketing contributions, and other net operational exposures.
(e) | As of March 30, 2013, a portion of the previously outstanding Euro Debt's €209 million principal amount was designated as a hedge of the Company's net investment in certain of its European subsidiaries. The entire principal amount of this hedge was de-designated prior to the Euro Debt's maturity on October 4, 2013. See Note 15 for a summary of the carrying value and the estimated fair value of the Euro Debt as of March 30, 2013.
(f) | Primarily undesignated hedges of foreign currency-denominated intercompany loans.
(g) | $2 million included within prepaid expenses and other current assets and $4 million included within other non-current assets.
Offsetting Assets | The Company records and presents the fair values of all of its derivative assets and liabilities in its consolidated balance sheets on a gross basis, even though they are subject to master netting arrangements. However, if the Company were to offset and record the asset and liability balances of all of its forward foreign currency exchange contracts on a net basis in accordance with the terms of each of its master netting arrangements, spread across eight separate counterparties, the amounts presented in the consolidated balance sheets as of March 29, 2014 and March 30, 2013 would be adjusted from the current gross presentation as detailed in the following table:
|  | March 29, 2014 |  | March 30, 2013
Derivative Instrument |  | Gross Amounts Presented in the Consolidated Balance Sheet |  | Gross Amounts not Offset in the Consolidated Balance Sheet that are Subject to Master Netting Agreements |  | Net Amount |  | Gross Amounts Presented in the Consolidated Balance Sheet |  | Gross Amounts not Offset in the Consolidated Balance Sheet that are Subject to Master Netting Agreements |  | Net Amount
|  | (millions)
FC — Derivative assets |  | $ | 8 |  |  | $ | (1 | ) |  | $ | 7 |  |  | $ | 15 |  |  | $ | (3 | ) |  | $ | 12 |
FC — Derivative liabilities |  | $ | (7 | ) |  | $ | 1 |  |  | $ | (6 | ) |  | $ | (5 | ) |  | $ | 3 |  |  | $ | (2 | )
Gains (losses) recognized in AOCI and gains (losses) reclassified from AOCI to Earnings | The following tables summarize the pretax impact of the effective portion of gains and losses from the Company's derivative instruments on its consolidated financial statements for the fiscal years presented:
|  | Gains (Losses) Recognized in OCI |  | Gains (Losses) Reclassified from AOCI to Earnings |  | Location of Gains (Losses) Reclassified from AOCI to Earnings
|  | Fiscal Years Ended |  | Fiscal Years Ended |
Derivative Instrument |  | March 29, 2014 |  | March 30, 2013 |  | March 31, 2012 |  | March 29, 2014 |  | March 30, 2013 |  | March 31, 2012 |
|  | (millions) |  |
Designated Cash Flow Hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |
FC — Inventory purchases |  | $ | (10 | ) |  | $ | 21 |  |  | $ | 29 |  |  | $ | 10 |  |  | $ | 32 |  |  | $ | (2 | ) |  | Cost of goods sold
FC — Other |  | — |  |  | (1 | ) |  | 5 |  |  | — |  |  | 4 |  |  | (3 | ) |  | Foreign currency gains (losses)
|  | $ | (10 | ) |  | $ | 20 |  |  | $ | 34 |  |  | $ | 10 |  |  | $ | 36 |  |  | $ | (5 | ) |  |
Designated Hedge of Net Investment: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Euro Debt(a) |  | $ | — |  |  | $ | 11 |  |  | $ | 16 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |
Total Designated Hedges |  | $ | (10 | ) |  | $ | 31 |  |  | $ | 50 |  |  | $ | 10 |  |  | $ | 36 |  |  | $ | (5 | ) |  |
(a) | Amounts recognized in OCI relate to remeasurement of the Euro Debt, which was repaid in October 2013, and would be recognized in earnings only upon the sale or liquidation of the hedged net investment.
Derivative gains (losses) recognized in earnings | The following table summarizes the impact of gains and losses from the Company's undesignated hedge contracts on its consolidated financial statements for the fiscal years presented:
|  | Gains (Losses) Recognized in Earnings |  | Location of Gains (Losses) Recognized in Earnings
|  | Fiscal Years Ended |
Derivative Instrument |  | March 29, 2014 |  | March 30, 2013 |  | March 31, 2012 |
|  | (millions) |  |
Undesignated Hedges: |  |  |  |  |  |  |  |
FC — Other |  | $ | 20 |  |  | $ | (4 | ) |  | $ | 1 |  |  | Foreign currency gains (losses)
Total Undesignated Hedges |  | $ | 20 |  |  | $ | (4 | ) |  | $ | 1 |  |  |
Company's short-term and non-current investments recorded in the consolidated balance sheets | The following table summarizes the Company's short-term and non-current investments recorded in the consolidated balance sheets as of March 29, 2014 and March 30, 2013:
|  | March 29, 2014 |  | March 30, 2013
Type of Investment |  | Short-term < 1 year |  | Non-current 1 - 3 years |  | Total |  | Short-term < 1 year |  | Non-current 1 - 3 years |  | Total
|  |  |  |  |  | (millions) |  |  |  |
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |
Government bonds — U.S. |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |  |  | $ | 21 |  |  | $ | 8 |  |  | $ | 29 |
Government bonds — non-U.S. |  | — |  |  | — |  |  | — |  |  | 67 |  |  | 25 |  |  | 92 |
Corporate bonds — non-U.S. |  | — |  |  | — |  |  | — |  |  | 36 |  |  | 46 |  |  | 82 |
Variable rate municipal securities — U.S. |  | — |  |  | — |  |  | — |  |  | 17 |  |  | — |  |  | 17 |
Auction rate securities(a) |  | — |  |  | 2 |  |  | 2 |  |  | — |  |  | 2 |  |  | 2 |
Total available-for-sale investments |  | $ | 1 |  |  | $ | 2 |  |  | $ | 3 |  |  | $ | 141 |  |  | $ | 81 |  |  | $ | 222 |
Other: |  |  |  |  |  |  |  |  |  |  |  |
Time deposits |  | $ | 487 |  |  | $ | — |  |  | $ | 487 |  |  | $ | 184 |  |  | $ | — |  |  | $ | 184 |
Total investments |  | $ | 488 |  |  | $ | 2 |  |  | $ | 490 |  |  | $ | 325 |  |  | $ | 81 |  |  | $ | 406 |
(a) | Auction rate securities have characteristics similar to short-term investments. However, the Company has classified these securities as non-current investments in its consolidated balance sheets as current market conditions call into question its ability to redeem these investments for cash within the next twelve months.

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- Definition Tabular disclosure of the effective portion of the gains and losses on derivative instruments designated (and non-derivative instruments) designated and qualifying in cash flow hedges and net investment hedges that was recognized in other comprehensive income (loss) during the current period and derivative instruments gain loss reclassified from accumulated other comprehensive income into income. + References No definition available. + Details
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- Definition Tabular disclosure of derivative and other financial assets that are subject to offsetting, including master netting arrangements. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=20225523&loc=SL20225877-175312 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=20225523&loc=SL20225862-175312 + Details
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