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Financial Instruments (Tables) | 3 Months Ended
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Jun. 28, 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 June 28, 2014 and March 29, 2014:
|  | Notional Amounts |  | Derivative Assets |  | Derivative Liabilities
Derivative Instrument(a) |  | June 28, 2014 |  | March 29, 2014 |  | June 28, 2014 |  | March 29, 2014 |  | June 28, 2014 |  | March 29, 2014
|  |  |  |  |  | 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 |  | $ | 501 |  |  | $ | 476 |  |  | (c) |  | $ | 4 |  |  | (d) |  | $ | 2 |  |  | AE |  | $ | 4 |  |  | AE |  | $ | 5 |
FC — Other(e) |  | 210 |  |  | 223 |  |  | — |  | — |  |  | — |  | — |  |  | AE |  | 3 |  |  | AE |  | 2 |
Total Designated Hedges |  | $ | 711 |  |  | $ | 699 |  |  |  |  | $ | 4 |  |  |  |  | $ | 2 |  |  |  |  | $ | 7 |  |  |  |  | $ | 7 |
Undesignated Hedges: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
FC — Other(f) |  | $ | 274 |  |  | $ | 280 |  |  | PP |  | $ | 3 |  |  | (g) |  | $ | 6 |  |  | ONCL |  | $ | 1 |  |  | — |  | $ | — |
Total Hedges |  | $ | 985 |  |  | $ | 979 |  |  |  |  | $ | 7 |  |  |  |  | $ | 8 |  |  |  |  | $ | 8 |  |  |  |  | $ | 7 |
(a) | FC = Forward foreign currency exchange contracts.
(b) | PP = Prepaid expenses and other current assets; AE = Accrued expenses and other current liabilities; ONCL = Other non-current liabilities.
(c) | $2 million included within prepaid expenses and other current assets and $2 million included within other non-current assets.
(d) | $1 million included within prepaid expenses and other current assets and $1 million included within other non-current assets.
(e) | Primarily designated hedges of foreign currency-denominated intercompany royalty payments, marketing contributions, and other net operational exposures.
(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 the 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 June 28, 2014 and March 29, 2014 would be adjusted from the current gross presentation as detailed in the following table:
|  | June 28, 2014 |  | March 29, 2014
Derivative Instrument |  | Gross Amounts Presented in the Consolidated Balance Sheet |  | Gross Amounts not Offset in the 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 Balance Sheet that are Subject to Master Netting Agreements |  | Net Amount
|  | (millions)
FC — Derivative assets |  | $ | 7 |  |  | $ | (2 | ) |  | $ | 5 |  |  | $ | 8 |  |  | $ | (1 | ) |  | $ | 7 |
FC — Derivative liabilities |  | $ | 8 |  |  | $ | (2 | ) |  | $ | 6 |  |  | $ | 7 |  |  | $ | (1 | ) |  | $ | 6 |
Gains (losses) recognized in AOCI and gains (losses) reclassified from AOCI to Earnings | The following table summarizes the pretax impact of the effective portion of gains and losses from the Company's derivative instruments on its unaudited interim consolidated financial statements for the three-month periods ended June 28, 2014 and June 29, 2013:
|  | Gains (Losses) Recognized in OCI |  | Gains (Losses) Reclassified from AOCI to Earnings |  | Location of Gains (Losses) Reclassified from AOCI to Earnings
|  | Three Months Ended |  | Three Months Ended |
Derivative Instrument |  | June 28, 2014 |  | June 29, 2013 |  | June 28, 2014 |  | June 29, 2013 |
|  |  |  | (millions) |  |  |  |
Designated Cash Flow Hedges: |  |  |  |  |  |  |  |  |  |
FC — Inventory purchases |  | $ | 1 |  |  | $ | (1 | ) |  | $ | (1 | ) |  | $ | 5 |  |  | Cost of goods sold
FC — Other |  | (2 | ) |  | — |  |  | (2 | ) |  | — |  |  | Foreign currency gains (losses)
|  | $ | (1 | ) |  | $ | (1 | ) |  | $ | (3 | ) |  | $ | 5 |  |  |
Designated Hedge of Net Investment: |  |  |  |  |  |  |  |  |  |
Euro Debt(a) |  | $ | — |  |  | $ | (1 | ) |  | $ | — |  |  | $ | — |  |  |
Total Designated Hedges |  | $ | (1 | ) |  | $ | (2 | ) |  | $ | (3 | ) |  | $ | 5 |  |  |
(a) | Amount recognized in OCI relates 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 unaudited interim consolidated financial statements for the three-month periods ended June 28, 2014 and June 29, 2013:
|  | Gains (Losses) Recognized in Earnings |  | Location of Gains (Losses) Recognized in Earnings
|  | Three Months Ended |
Derivative Instrument |  | June 28, 2014 |  | June 29, 2013 |
|  | (millions) |  |
Undesignated Hedges: |  |  |  |  |  |
FC — Other |  | $ | (2 | ) |  | $ | 8 |  |  | Foreign currency gains (losses)
Total Undesignated Hedges |  | $ | (2 | ) |  | $ | 8 |  |  |
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 June 28, 2014 and March 29, 2014:
|  | June 28, 2014 |  | March 29, 2014
Type of Investment |  | Short-term |  | Non-current |  | Total |  | Short-term |  | Non-current |  | Total
|  |  |  |  |  | (millions) |  |  |  |
Available-for-Sale: |  |  |  |  |  |  |  |  |  |  |  |
Government bonds |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |
Auction rate securities(a) |  | — |  |  | 2 |  |  | 2 |  |  | — |  |  | 2 |  |  | 2 |
Total available-for-sale investments |  | $ | — |  |  | $ | 2 |  |  | $ | 2 |  |  | $ | 1 |  |  | $ | 2 |  |  | $ | 3 |
Other: |  |  |  |  |  |  |  |  |  |  |  |
Time deposits |  | $ | 658 |  |  | $ | — |  |  | $ | 658 |  |  | $ | 487 |  |  | $ | — |  |  | $ | 487 |
Total Investments |  | $ | 658 |  |  | $ | 2 |  |  | $ | 660 |  |  | $ | 488 |  |  | $ | 2 |  |  | $ | 490 |
(a) | Auction rate securities have characteristics similar to short-term investments. However, the Company has recorded these securities within other non-current assets 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 maturities of an entity's investments as well as any other information pertinent to the investments. + 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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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5618551-113959 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959 + Details
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