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Leases

12 Months Ended

Apr. 03, 2020

We lease certain of our facilities, equipment, and data center co-locations under operating leases that expire on various dates through fiscal 2029. Our leases generally have terms that range from 1 year to 15 years for our facilities, 1 year to 6 years for equipment, and 1 year to 6 years for data center co-locations. Some of our leases contain renewal options, escalation clauses, rent concessions, and leasehold improvement incentives.

The following summarizes our lease costs for fiscal 2020:



(In millions)
Operating lease costs	$	34
Short-term lease costs	8
Variable lease costs	21
Total lease costs	$	63

Rent expense under operating leases was $58 million and $62 million for fiscal 2019 and 2018, respectively.

Other information related to our operating leases as of April 3, 2020 as follows:



Weighted-average remaining lease term	4.5 years
Weighted-average discount rate	4.05	%

See Note 7 for additional cash flow information related to our operating leases.

As of April 3, 2020, the maturities of our lease liabilities by fiscal year are as follows:



(In millions)
2021	$	32
2022	25
2023	18
2024	17
2025	10
Thereafter	9
Total lease payments	111
Less: Imputed interest	10
Present value of lease liabilities	$	101

As of March 29, 2019, the minimum future rentals on non-cancelable operating leases, which includes leases associated with our discontinued operations and is based on the previous lease accounting standard, by fiscal year were as follows:



(In millions)
2020	$	55
2021	49
2022	40
2023	32
2024	26
Thereafter	42
Total minimum future lease payments	$	244