XML 39 R25.htm IDEA: XBRL DOCUMENT
v3.22.1

Net Income (Loss) Per Share | 12 Months Ended
--- | ---
Apr. 01, 2022
Earnings Per Share [Abstract] |
Net Income (Loss) Per Share | Net Income (Loss) Per Share Basic income per share is computed by dividing net income by the weighted-average number of common shares outstanding during the period. Diluted net income per share also includes the incremental effect of dilutive potentially issuable common shares outstanding during the period using the treasury stock method. Dilutive potentially issuable common shares include the dilutive effect of the shares underlying convertible debt and employee equity awards. The components of basic and diluted net income (loss) per share are as follows:
| Year Ended
(In millions, except per share amounts) | April 1, 2022 |  | April 2, 2021 |  | April 3, 2020
Income (loss) from continuing operations | $ | 836 |  |  | $ | 696 |  |  | $ | 578 |
Income (loss) from discontinued operations | — |  |  | (142) |  |  | 3,309 |
Net income (loss) | $ | 836 |  |  | $ | 554 |  |  | $ | 3,887 |
Income (loss) per share - basic: |  |  |  |  |
Continuing operations | $ | 1.44 |  |  | $ | 1.18 |  |  | $ | 0.94 |
Discontinued operations | $ | — |  |  | $ | (0.24) |  |  | $ | 5.38 |
Net income per share - basic | $ | 1.44 |  |  | $ | 0.94 |  |  | $ | 6.32 |
Income (loss) per share - diluted: |  |  |  |  |
Continuing operations | $ | 1.41 |  |  | $ | 1.16 |  |  | $ | 0.90 |
Discontinued operations | $ | — |  |  | $ | (0.24) |  |  | $ | 5.15 |
Net income per share - diluted | $ | 1.41 |  |  | $ | 0.92 |  |  | $ | 6.05 |
Weighted-average shares outstanding - basic | 581 |  |  | 589 |  |  | 615 |
Dilutive potentially issuable shares: |  |  |  |  |
Convertible debt | 7 |  |  | 8 |  |  | 20 |
Employee equity awards | 3 |  |  | 3 |  |  | 8 |
Weighted-average shares outstanding - diluted | 591 |  |  | 600 |  |  | 643 |
Anti-dilutive shares excluded from diluted net income (loss) per share calculation: |  |  |  |  |
Convertible debt | — |  |  | 8 |  |  | 5 |
Employee equity awards | 1 |  |  | — |  |  | 2 |
Total | 1 |  |  | 8 |  |  | 7 |
Under the treasury stock method, our convertible debt instruments will generally have a dilutive impact on net income per share when our average stock price for the period exceeds the conversion prices for the convertible debt instruments. On February 4, 2020, a portion of the 2.5% Convertible Notes were exchanged for the New 2.5% Convertible Notes, and a portion of the 2.0% Convertible Notes were exchanged for the New 2.0% Convertible Notes. The remaining Convertible Senior Notes received conversion price adjustments. The 2.5% Convertible Notes and 2.0% Convertible Notes were fully repaid on March 10, 2020 and May 26, 2020, respectively. The New 2.5% Convertible Notes were fully repaid on May 20, 2021. See Note 10 for further information on our convertible debt instruments. The conversion price of each convertible debt applicable in the periods presented is as follows:
| Year Ended
| April 1, 2022 |  | April 2, 2021 |  | April 3, 2020
2.5% Convertible Senior Notes due April 1, 2022 | N/A |  | N/A |  | $ | 8.40 |
2.0% Convertible Senior Notes due August 15, 2022 | N/A |  | N/A |  | $ | 10.23 |
New 2.5% Convertible Senior Notes due April 1, 2022 | N/A |  | $ | 16.77 |  |  | $ | 16.77 |
New 2.0% Convertible Senior Notes due August 15, 2022 | $ | 20.41 |  |  | $ | 20.41 |  |  | $ | 20.41 |

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

X
- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 3 -URI https://asc.fasb.org/extlink&oid=109243012&loc=SL65017193-207537 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -URI https://asc.fasb.org/topic&trid=2144383 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -URI https://asc.fasb.org/extlink&oid=124432515&loc=d3e3630-109257 + Details
Name: | us-gaap_EarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration