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Debt (Tables) | 3 Months Ended
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Jul. 02, 2016
Debt Disclosure [Abstract] |
Schedule of Debt Instruments | Debt consists of the following:
|  | July 2, 2016 |  | April 2, 2016
|  | (millions)
$300 million 2.125% Senior Notes(a) |  | $ | 303 |  |  | $ | 301 |
$300 million 2.625% Senior Notes(b) |  | 299 |  |  | 296 |
Commercial paper notes |  | 90 |  |  | 90 |
Borrowings outstanding under credit facilities |  | — |  |  | 26 |
Total debt |  | 692 |  |  | 713 |
Less: short-term debt |  | 90 |  |  | 116 |
Total long-term debt |  | $ | 602 |  |  | $ | 597 |
(a) | During Fiscal 2016, the Company entered into an interest rate swap contract which it designated as a hedge against changes in the fair value of its fixed-rate 2.125% Senior Notes (see Note 12). Accordingly, the carrying value of the 2.125% Senior Notes as of July 2, 2016 and April 2, 2016 reflects adjustments of $4 million and $2 million, respectively, for the change in fair value attributable to the benchmark interest rate. The carrying value of the 2.125% Senior Notes is also net of unamortized debt issuance costs and discount of $1 million as of both July 2, 2016 and April 2, 2016.
(b) | During Fiscal 2016, the Company entered into an interest rate swap contract which it designated as a hedge against changes in the fair value of its fixed-rate 2.625% Senior Notes (see Note 12). Accordingly, the carrying value of the 2.625% Senior Notes as of July 2, 2016 and April 2, 2016 reflects adjustments of $1 million and $2 million, respectively, for the change in fair value attributable to the benchmark interest rate. The carrying value of the 2.625% Senior Notes is also net of unamortized debt issuance costs and discount of $2 million as of both July 2, 2016 and April 2, 2016.

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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