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Derivatives (Tables) | 9 Months Ended
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Dec. 29, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments | The following table summarizes our outstanding derivative instruments as of December 29, 2023 and March 31, 2023:
| Notional Amount |  | Fair Value of Derivative Assets |  | Fair Value of Derivative Liabilities
(In millions) | December 29, 2023 |  | March 31, 2023 |  | December 29, 2023 |  | March 31, 2023 |  | December 29, 2023 |  | March 31, 2023
Foreign exchange contracts not designated as hedging instrument (1) | $ | 306 |  |  | $ | 291 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Interest rate swap contracts designated as cash flow hedge | 1,000 |  |  | 1,000 |  |  | 6 |  |  | 1 |  |  | — |  |  | 2 |
Total | $ | 1,306 |  |  | $ | 1,291 |  |  | $ | 6 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 2 |
(1) The fair values of the foreign exchange contracts are less than $1 million as of December 29, 2023 and March 31, 2023.
Schedule of Effect of Cash Flow Hedges on AOCI | The following table summarizes the effect of our cash flow hedges on AOCI during the periods indicated:
| December 29, 2023
(In millions) | Three Months Ended |  | Nine Months Ended
Interest rate swap contracts designated as cash flow hedge | $ | 15 |  |  | $ | (17) |
Schedule of Derivative Instruments, Gain (Loss) | The related gain (loss) recognized in our Condensed Consolidated Statements of Operations, with presentation location was as follows:
| Three Months Ended |  | Nine Months Ended |  | Condensed Consolidated Statements of Operations Classification
(In millions) | December 29, 2023 |  | December 30, 2022 |  | December 29, 2023 |  | December 30, 2022 |
Foreign exchange contracts not designated as hedging instrument | $ | 3 |  |  | $ | 2 |  |  | $ | (6) |  |  | $ | (8) |  |  | Other income (expense), net
Interest rate swap contracts designated as cash flow hedge | 4 |  |  | — |  |  | 11 |  |  | — |  |  | Interest expense
Total | $ | 7 |  |  | $ | 2 |  |  | $ | 5 |  |  | $ | (8) |  |  |

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