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Fair Value Measurements (Tables) | 9 Months Ended
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Dec. 26, 2020
Fair Value Disclosures [Abstract] |
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:
|  | December 26, 2020 |  | March 28, 2020
|  | (millions)
Investments in commercial paper(a)(b) |  | $ | — |  |  | $ | 243.6 |
Derivative assets(a) |  | 2.9 |  |  | 62.3 |
Derivative liabilities(a) |  | 60.6 |  |  | 6.9 |
(a)Based on Level 2 measurements. (b)Amounts are included within short-term investments in the consolidated balance sheet.
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:
|  | December 26, 2020 |  | March 28, 2020
|  | Carrying Value(a) |  | Fair Value(b) |  | Carrying Value(a) |  | Fair Value(b)
|  | (millions)
$300 million 2.625% Senior Notes |  | $ | — |  |  | $ | — |  |  | $ | 299.6 |  |  | $ | 299.8 |
$400 million 3.750% Senior Notes |  | 396.9 |  |  | 452.1 |  |  | 396.4 |  |  | 415.1 |
$500 million 1.700% Senior Notes |  | 498.0 |  |  | 509.3 |  |  | — |  |  | — |
$750 million 2.950% Senior Notes |  | 737.0 |  |  | 812.3 |  |  | — |  |  | — |
Borrowings outstanding under credit facilities |  | — |  |  | — |  |  | 475.0 |  |  | 473.0 |
(a)See Note 10 for discussion of the carrying values of the Company's senior notes. (b)Based on Level 2 measurements.
Fair value measurements, nonrecurring | The following tables summarize non-cash impairment charges recorded by the Company during the fiscal periods presented in order to reduce the carrying values of certain long-lived assets to their estimated fair values as of the assessment date:
|  | Three Months Ended
|  | December 26, 2020 |  | December 28, 2019
Long-Lived Asset Category |  | Fair Value as of Impairment Date |  | Total Impairments |  | Fair Value as of Impairment Date |  | Total Impairments
|  | (millions)
Property and equipment, net |  | $ | — |  |  | $ | 2.2 |  |  | $ | — |  |  | $ | 11.0 |
Operating lease right-of-use assets |  | — |  |  | 0.4 |  |  | 13.2 |  |  | 3.4 |
|  | Nine Months Ended
|  | December 26, 2020 |  | December 28, 2019
Long-Lived Asset Category |  | Fair Value as of Impairment Date |  | Total Impairments |  | Fair Value as of Impairment Date |  | Total Impairments
|  | (millions)
Property and equipment, net |  | $ | — |  |  | $ | 13.0 |  |  | $ | — |  |  | $ | 13.6 |
Operating lease right-of-use assets(a) |  | 33.9 |  |  | 22.7 |  |  | 109.6 |  |  | 233.2 |
(a)Total impairment charges for the nine months ended December 28, 2019 includes $225.1 million recorded in connection with the Company's adoption of ASU No. 2016-02, "Leases" as of the beginning of Fiscal 2020 which, net of related income tax benefits, reduced its opening retained earnings balance by $169.4 million.

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=121572278&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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