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v3.23.3

Supplementary Information | 6 Months Ended
--- | ---
Sep. 29, 2023
Supplementary Information [Abstract] |
Supplementary Information | Supplementary Information Cash and cash equivalents:
(In millions) | September 29, 2023 |  | March 31, 2023
Cash | $ | 417 |  |  | $ | 576 |
Cash equivalents | 212 |  |  | 174 |
Total cash and cash equivalents | $ | 629 |  |  | $ | 750 |
Accounts receivable, net:
(In millions) | September 29, 2023 |  | March 31, 2023
Accounts receivable | $ | 148 |  |  | $ | 169 |
Allowance for doubtful accounts | (1) |  |  | (1) |
Total accounts receivable, net | $ | 147 |  |  | $ | 168 |
Other current assets:
(In millions) | September 29, 2023 |  | March 31, 2023
Prepaid expenses | $ | 122 |  |  | $ | 122 |
Income tax receivable and prepaid income taxes | 96 |  |  | 123 |
Other tax receivable | 29 |  |  | 16 |
Other | 31 |  |  | 23 |
Total other current assets | $ | 278 |  |  | $ | 284 |
Property and equipment, net:
(In millions) | September 29, 2023 |  | March 31, 2023
Land | $ | 13 |  |  | $ | 13 |
Computer hardware and software | 499 |  |  | 498 |
Office furniture and equipment | 17 |  |  | 17 |
Buildings | 27 |  |  | 28 |
Leasehold improvements | 28 |  |  | 28 |
Construction in progress | 12 |  |  | 1 |
Total property and equipment, gross | 596 |  |  | 585 |
Accumulated depreciation and amortization | (521) |  |  | (509) |
Total property and equipment, net | $ | 75 |  |  | $ | 76 |
Other long-term assets:
(In millions) | September 29, 2023 |  | March 31, 2023
Non-marketable equity investments | $ | 176 |  |  | $ | 176 |
Long-term income tax receivable and prepaid income taxes | 695 |  |  | 669 |
Deferred income tax assets | 1,198 |  |  | 353 |
Long-term prepaid royalty | 28 |  |  | 36 |
Other | 66 |  |  | 47 |
Total other long-term assets | $ | 2,163 |  |  | $ | 1,281 |
Short-term contract liabilities:
(In millions) | September 29, 2023 |  | March 31, 2023
Deferred revenue | $ | 1,075 |  |  | $ | 1,153 |
Customer deposit liabilities | 524 |  |  | 555 |
Total short-term contract liabilities | $ | 1,599 |  |  | $ | 1,708 |
Other current liabilities:
(In millions) | September 29, 2023 |  | March 31, 2023
Income taxes payable | $ | 201 |  |  | $ | 172 |
Other taxes payable | 79 |  |  | 76 |
Accrued legal fees | 39 |  |  | 284 |
Accrued royalties | 45 |  |  | 48 |
Accrued interest | 78 |  |  | 27 |
Other | 98 |  |  | 96 |
Total other current liabilities | $ | 540 |  |  | $ | 703 |
Other long-term liabilities:
(In millions) | September 29, 2023 |  | March 31, 2023
Long-term accrued legal fees | $ | 588 |  |  | $ | — |
Other | 43 |  |  | 43 |
Total other long-term liabilities | $ | 631 |  |  | $ | 43 |
Long-term income taxes payable:
(In millions) | September 29, 2023 |  | March 31, 2023
Deemed repatriation tax payable | $ | 139 |  |  | $ | 310 |
Other long-term income taxes | 1 |  |  | 1 |
Unrecognized tax benefits and related interest and penalties | 1,073 |  |  | 509 |
Total long-term income taxes payable | $ | 1,213 |  |  | $ | 820 |
As of September 29, 2023, total deferred income taxes changed by $984 million, which primarily relates to goodwill of $592 million, intangibles of $112 million, and other accruals and reserves not currently tax deductible of $192 million, and current year unrecognized tax benefits and penalties, which increased by $450 million and $90 million, respectively. Other income (expense), net:
| Three Months Ended |  | Six Months Ended
(In millions) | September 29, 2023 |  | September 30, 2022 |  | September 29, 2023 |  | September 30, 2022
Interest income | $ | 6 |  |  | $ | 3 |  |  | $ | 12 |  |  | $ | 5 |
Foreign exchange gain (loss) | 1 |  |  | 2 |  |  | 2 |  |  | 1 |
Gain (loss) on early extinguishment of debt | — |  |  | (9) |  |  | — |  |  | (9) |
Gain on sale of properties | — |  |  | — |  |  | 4 |  |  | — |
Other | — |  |  | 6 |  |  | 1 |  |  | 4 |
Other income (expense), net | $ | 7 |  |  | $ | 2 |  |  | $ | 19 |  |  | $ | 1 |
Supplemental cash flow information:
| Six Months Ended
(In millions) | September 29, 2023 |  | September 30, 2022
Income taxes paid, net of refunds | $ | 270 |  |  | $ | 295 |
Interest expense paid | $ | 283 |  |  | $ | 63 |
Cash paid for amounts included in the measurement of operating lease liabilities | $ | 13 |  |  | $ | 11 |
Non-cash operating activities: |  |  |
Operating lease assets obtained in exchange for operating lease liabilities | $ | — |  |  | $ | 18 |
Reduction of operating lease assets as a result of lease terminations and modifications | $ | (7) |  |  | $ | 30 |
Non-cash investing and financing activities: |  |  |
Purchases of property and equipment in current liabilities | $ | 4 |  |  | $ | — |
Non-cash consideration for the Merger with Avast | $ | — |  |  | $ | 2,141 |

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