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Net Income (Loss) Per Share | 12 Months Ended
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Mar. 31, 2023
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. Dilutive potentially issuable common shares include the dilutive effect of the shares underlying convertible debt and employee equity awards. Our remaining convertible debt was extinguished on August 15, 2022. The components of basic and diluted net income (loss) per share are as follows:
| Year Ended
(In millions, except per share amounts) | March 31, 2023 |  | April 1, 2022 |  | April 2, 2021
Income (loss) from continuing operations | $ | 1,349 |  |  | $ | 836 |  |  | $ | 696 |
Income (loss) from discontinued operations | — |  |  | — |  |  | (142) |
Net income (loss) | $ | 1,349 |  |  | $ | 836 |  |  | $ | 554 |
Net income (loss) per share - basic |  |  |  |  |
Continuing operations | $ | 2.20 |  |  | $ | 1.44 |  |  | $ | 1.18 |
Discontinued operations | $ | — |  |  | $ | — |  |  | $ | (0.24) |
Net income per share - basic | $ | 2.20 |  |  | $ | 1.44 |  |  | $ | 0.94 |
Income (loss) per share - diluted: |  |  |  |  |
Continuing operations | $ | 2.16 |  |  | $ | 1.41 |  |  | $ | 1.16 |
Discontinued operations | $ | — |  |  | $ | — |  |  | $ | (0.24) |
Net income per share - diluted | $ | 2.16 |  |  | $ | 1.41 |  |  | $ | 0.92 |
Weighted-average shares outstanding - basic | 614 |  |  | 581 |  |  | 589 |
Dilutive potentially issuable shares: |  |  |  |  |
Convertible debt | 6 |  |  | 7 |  |  | 8 |
Employee equity awards | 4 |  |  | 3 |  |  | 3 |
Weighted-average shares outstanding - diluted | 624 |  |  | 591 |  |  | 600 |
Anti-dilutive shares excluded from diluted net income (loss) per share calculation: |  |  |  |  |
Convertible debt | — |  |  | — |  |  | 8 |
Employee equity awards | — |  |  | 1 |  |  | — |
Total | — |  |  | 1 |  |  | 8 |
Upon adoption of ASU 2020-06 under the modified retrospective method, we are required to apply the if-converted method to our calculation of diluted earnings per share. For fiscal 2023, we adjust for the dilutive effect of the maximum number of potential shares to be issued upon settlement of our outstanding convertible debt instruments. Prior period earnings per share amounts are not restated under the modified retrospective method. For fiscal 2022, the dilutive effect of our debt instruments is calculated using the treasury stock method, under which our convertible debt instruments generally had 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. The initial adoption of ASU 2020-06 had a $0.01 impact on dilutive earnings per share, with the dilutive shares underlying the convertible debt increasing by $18 million shares. The New 2.0% Convertible Notes were fully repaid on August 15, 2022. 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
New 2.5% Convertible Senior Notes due April 1, 2022 |  |  | N/A |  | $ | 16.77 |
New 2.0% Convertible Senior Notes due August 15, 2022 |  |  | $ | 20.41 |  |  | $ | 20.41 |

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