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Fair Value Measurements (Tables)

3 Months Ended

Jun. 27, 2015

Fair value of financial assets and liabilities measured and recorded at fair value on recurring basis

The following table summarizes the Company's financial assets and liabilities that are measured and recorded at fair value on a recurring basis, excluding accrued interest components:



	June 27, 2015		March 28, 2015
	(millions)
Financial assets recorded at fair value:
Corporate bonds — non-U.S.^(a)	$	8	$	8
Derivative financial instruments^(b)	72		87
Total	$	80	$	95
Financial liabilities recorded at fair value:
Derivative financial instruments^(b)	$	28	$	19
Total	$	28	$	19


^(a)	Based on Level 1 measurements.


^(b)	Based on Level 2 measurements.

Carrying value and the estimated fair value of the Company's debt obligations

The following table summarizes the carrying values and the estimated fair values of the Company's debt instruments:



	June 27, 2015					March 28, 2015
	Carrying Value			Fair Value^(a)		Carrying Value			Fair Value^(a)
	(millions)
$300 million 2.125% Senior Notes	$	297	^(b)	$	303	$	298	^(b)	$	304
Commercial paper notes	155			155		234			234


^(a)	Based on Level 2 measurements.


^(b)	See Note 11 for discussion of the carrying value of the Senior Notes as of June 27, 2015 and March 28, 2015.

Fair value measurements, nonrecurring

The following table summarizes the impairment charges recorded during the three-month periods ended June 27, 2015 and June 28, 2014:



	Three Months Ended
	June 27, 2015			June 28, 2014
	(millions)
Aggregate carrying value of long-lived assets written down to fair value	$	8		$	1
Impairment charges (see Note 8)	(8		)	(1		)