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v3.23.1

Supplementary Information | 12 Months Ended
--- | ---
Mar. 31, 2023
Supplementary Information [Abstract] |
Supplementary Information | Supplementary Information Cash and cash equivalents:
(In millions) | March 31, 2023 |  | April 1, 2022
Cash | $ | 576 |  |  | $ | 609 |
Cash equivalents | 174 |  |  | 1,278 |
Total cash and cash equivalents | $ | 750 |  |  | $ | 1,887 |
Accounts receivable, net:
(In millions) | March 31, 2023 |  | April 1, 2022
Accounts receivable | $ | 169 |  |  | $ | 121 |
Allowance for doubtful accounts | (1) |  |  | (1) |
Accounts receivable, net | $ | 168 |  |  | $ | 120 |
Other current assets:
(In millions) | March 31, 2023 |  | April 1, 2022
Prepaid expenses | $ | 122 |  |  | $ | 107 |
Income tax receivable and prepaid income taxes | 123 |  |  | 35 |
Other tax receivable | 16 |  |  | 27 |
Other | 23 |  |  | 24 |
Total other current assets | $ | 284 |  |  | $ | 193 |
Property and equipment, net:
(In millions) | March 31, 2023 |  | April 1, 2022
Land | $ | 13 |  |  | $ | 2 |
Computer hardware and software | 498 |  |  | 462 |
Office furniture and equipment | 17 |  |  | 27 |
Buildings | 28 |  |  | 27 |
Leasehold improvements | 28 |  |  | 56 |
Construction in progress | 1 |  |  | 1 |
Total property and equipment, gross | 585 |  |  | 575 |
Accumulated depreciation and amortization | (509) |  |  | (515) |
Total property and equipment, net | $ | 76 |  |  | $ | 60 |
During the second quarter of fiscal 2023, we reclassified $26 million of buildings and leasehold improvements, which were previously reported as held for sale as of April 1, 2022, to property and equipment, net. Adjustments associated with catch-up depreciation were immaterial. During the fourth quarter of fiscal 2023, we determined certain land and buildings in Dublin, Ireland, which were previously reported as property and equipment, net as of April 1, 2022, now qualifies as held for sale classification. As a result, we reclassified the aggregate $23 million carrying value from property and equipment, net to assets held for sale in our Consolidated Balance Sheets. Refer to Note 3 for further information about our assets held for sale. Depreciation and amortization expense of property and equipment was $21 million, $16 million, and $45 million in fiscal 2023, 2022 and 2021, respectively. Other long-term assets:
(In millions) | March 31, 2023 |  | April 1, 2022
Non-marketable equity investments | $ | 176 |  |  | $ | 178 |
Long-term income tax receivable and prepaid income taxes | 669 |  |  | 25 |
Deferred income tax assets | 353 |  |  | 351 |
Long-term prepaid royalty | 36 |  |  | 53 |
Other | 47 |  |  | 46 |
Total other long-term assets | $ | 1,281 |  |  | $ | 653 |
Short-term contract liabilities:
(In millions) | March 31, 2023 |  | April 1, 2022
Deferred revenue | $ | 1,153 |  |  | $ | 743 |
Customer deposit liabilities | 555 |  |  | 521 |
Total short-term contract liabilities | $ | 1,708 |  |  | $ | 1,264 |
Other current liabilities:
(In millions) | March 31, 2023 |  | April 1, 2022
Income taxes payable | $ | 172 |  |  | $ | 109 |
Other taxes payable | 76 |  |  | 87 |
Accrued legal fees | 284 |  |  | 273 |
Accrued royalties | 48 |  |  | 49 |
Accrued interest | 27 |  |  | 32 |
Other accrued liabilities | 96 |  |  | 89 |
Total other current liabilities | $ | 703 |  |  | $ | 639 |
Long-term income taxes payable:
(In millions) | March 31, 2023 |  | April 1, 2022
Deemed repatriation tax payable | $ | 310 |  |  | $ | 437 |
Other long-term income taxes | 1 |  |  | 3 |
Uncertain tax positions (including interest and penalties) | 509 |  |  | 556 |
Total long-term income taxes payable | $ | 820 |  |  | $ | 996 |
Other income (expense), net:
| Year Ended
(In millions) | March 31, 2023 |  | April 1, 2022 |  | April 2, 2021
Interest income | $ | 15 |  |  | $ | — |  |  | $ | 4 |
Foreign exchange gain (loss) | (8) |  |  | (2) |  |  | 1 |
(Loss) gain on early extinguishment of debt | (9) |  |  | (3) |  |  | 20 |
Gain on sale of properties | — |  |  | 175 |  |  | 98 |
Transition service expense, net | — |  |  | — |  |  | (9) |
Other | (20) |  |  | (7) |  |  | 6 |
Total other income (expense), net | $ | (22) |  |  | $ | 163 |  |  | $ | 120 |
Supplemental cash flow information:
| Year Ended
(In millions) | March 31, 2023 |  | April 1, 2022 |  | April 2, 2021
Income taxes paid, net of refunds | $ | 456 |  |  | $ | 356 |  |  | $ | 341 |
Interest expense paid | $ | 390 |  |  | $ | 120 |  |  | $ | 139 |
Cash paid for amounts included in the measurement of operating lease liabilities | $ | 26 |  |  | $ | 27 |  |  | $ | 34 |
Non-cash operating activities: |  |  |  |  |
Operating lease assets obtained in exchange for operating lease liabilities | $ | 23 |  |  | $ | 35 |  |  | $ | 34 |
Reduction of operating lease assets as a result of lease terminations and modifications | $ | 31 |  |  | $ | 17 |  |  | $ | 26 |
Non-cash investing and financing activities: |  |  |  |  |
Purchases of property and equipment in current liabilities | $ | 1 |  |  | $ | 1 |  |  | $ | — |
Extinguishment of debt with borrowings from same creditors | $ | — |  |  | $ | 494 |  |  | $ | — |
Non-cash consideration for the Merger with Avast | $ | 2,141 |  |  | $ | — |  |  | $ | — |

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