XML 61 R39.htm IDEA: XBRL DOCUMENT
v3.21.1

Income Taxes (Tables) | 12 Months Ended
--- | ---
Apr. 02, 2021
Income Tax Disclosure [Abstract] |
Schedule of Difference Between Effective Income Tax and Federal Statutory Income Tax | The U.S. federal statutory income tax rates we have applied for fiscal 2021, 2020, and 2019 are as follows:
| Year Ended
| April 2, 2021 |  | April 3, 2020 |  | March 29, 2019
U.S. federal statutory income tax rate | 21.0 | % |  | 21.0 | % |  | 21.0 | %
The difference between our effective income tax and the federal statutory income tax is as follows:
| Year Ended
(In millions) | April 2, 2021 |  | April 3, 2020 |  | March 29, 2019
Federal statutory tax expense (benefit) | $ | 183 |  |  | $ | 172 |  |  | $ | (23) |
State taxes, net of federal benefit | 25 |  |  | 22 |  |  | (11) |
Foreign earnings taxed at other than the federal rate | 7 |  |  | (2) |  |  | (24) |
Transition tax | — |  |  | — |  |  | (2) |
Federal research and development credit | (1) |  |  | (2) |  |  | (4) |
Valuation allowance increase (decrease) | 1 |  |  | (57) |  |  | 26 |
Change in uncertain tax positions | 3 |  |  | 60 |  |  | 44 |
Stock-based compensation | 5 |  |  | 5 |  |  | 8 |
Nondeductible goodwill | — |  |  | 18 |  |  | — |
Favorable ruling on foreign withholding tax | (35) |  |  | — |  |  | — |
US tax on foreign earnings | (15) |  |  | (4) |  |  | (1) |
Return to provision adjustment | 1 |  |  | 12 |  |  | (16) |
Other, net | 2 |  |  | 17 |  |  | 6 |
Income tax expense | $ | 176 |  |  | $ | 241 |  |  | $ | 3 |
Schedule of Components of income tax expense (benefit) | The components of our income (loss) from continuing operations before income taxes are as follows:
| Year Ended
(In millions) | April 2, 2021 |  | April 3, 2020 |  | March 29, 2019
Domestic | $ | 607 |  |  | $ | 667 |  |  | $ | (179) |
International | 265 |  |  | 152 |  |  | 72 |
Income (loss) before income taxes | $ | 872 |  |  | $ | 819 |  |  | $ | (107) |
The components of income tax expense (benefit) from continuing operations are as follows:
| Year Ended
(In millions) | April 2, 2021 |  | April 3, 2020 |  | March 29, 2019
Current: |  |  |  |  |
Federal | $ | 133 |  |  | $ | 208 |  |  | $ | 58 |
State | 36 |  |  | 33 |  |  | 4 |
International | (13) |  |  | 3 |  |  | (14) |
Total | 156 |  |  | 244 |  |  | 48 |
Deferred: |  |  |  |  |
Federal | (6) |  |  | (23) |  |  | (35) |
State | (5) |  |  | 3 |  |  | (3) |
International | 31 |  |  | 17 |  |  | (7) |
Total | 20 |  |  | (3) |  |  | (45) |
Income tax expense | $ | 176 |  |  | $ | 241 |  |  | $ | 3 |
Schedule of Principal Components of Deferred Tax Assets | The principal components of deferred tax assets and liabilities are as follows:
(In millions) | April 2, 2021 |  | April 3, 2020
Deferred tax assets: |  |  |
Tax credit carryforwards | $ | 2 |  |  | $ | 6 |
Net operating loss carryforwards of acquired companies | 23 |  |  | 21 |
Other accruals and reserves not currently tax deductible | 54 |  |  | 46 |
Operating lease liabilities | 29 |  |  | 12 |
Deferred revenue | — |  |  | 2 |
Property and equipment | 17 |  |  | 10 |
Intangible assets | 103 |  |  | 117 |
Loss on investments not currently tax deductible | — |  |  | 1 |
Stock-based compensation | 7 |  |  | 21 |
Other | 36 |  |  | 44 |
Gross deferred tax assets | 271 |  |  | 280 |
Valuation allowance | (7) |  |  | (9) |
Deferred tax assets, net of valuation allowance | 264 |  |  | 271 |
Deferred tax liabilities: |  |  |
Operating lease assets | (25) |  |  | (10) |
Goodwill | (1) |  |  | — |
Deferred revenue | (1) |  |  | — |
Unremitted earnings of foreign subsidiaries | (15) |  |  | (17) |
Prepaids and deferred expenses | (2) |  |  | (2) |
Discount on convertible debt | (2) |  |  | (4) |
Deferred tax liabilities | (46) |  |  | (33) |
Net deferred tax assets (liabilities) | $ | 218 |  |  | $ | 238 |
Schedule of Changes in Unrecognized Tax Benefits | The aggregate changes in the balance of gross unrecognized tax benefits were as follows:
| Year Ended
(In millions) | April 2, 2021 |  | April 3, 2020 |  | March 29, 2019
Balance at beginning of year | $ | 724 |  |  | $ | 446 |  |  | $ | 378 |
Settlements with tax authorities | (37) |  |  | (5) |  |  | (3) |
Lapse of statute of limitations | (34) |  |  | (15) |  |  | (17) |
Increase related to prior period tax positions | 13 |  |  | 77 |  |  | 16 |
Decrease related to prior period tax positions | (129) |  |  | (11) |  |  | (11) |
Increase related to current year tax positions | 11 |  |  | 232 |  |  | 75 |
Increase due to acquisition | — |  |  | — |  |  | 8 |
Balance at end of year | $ | 548 |  |  | $ | 724 |  |  | $ | 446 |

X
- References No definition available. + Details
Name: | us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32639-109319 + Details
Name: | us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32537-109319 + Details
Name: | us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32687-109319 + Details
Name: | us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure for tax positions taken in the tax returns filed or to be filed for which it is more likely than not that the tax position will not be sustained upon examination by taxing authorities and other income tax contingencies. Includes, but is not limited to, interest and penalties, reconciliation of unrecognized tax benefits, unrecognized tax benefits that would affect the effective tax rate, tax years that remain subject to examination by tax jurisdictions, and information about positions for which it is reasonably possible that amounts unrecognized will significantly change within 12 months. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15A -URI http://asc.fasb.org/extlink&oid=84230637&loc=SL6600010-109319 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 15 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32718-109319 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 740 -SubTopic 10 -Section 50 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=84230637&loc=d3e32840-109319 + Details
Name: | us-gaap_SummaryOfIncomeTaxContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration