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Debt (Tables) | 9 Months Ended
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Dec. 29, 2023
Debt Disclosure [Abstract] |
Schedule of Components of Debt | The following table summarizes components of our debt:
(In millions, except percentages) | December 29, 2023 |  | March 31, 2023 |  | Effective Interest Rate
5.00% Senior Notes due April 15, 2025 | $ | 1,100 |  |  | $ | 1,100 |  |  | 5.00 | %
Term A Facility due September 12, 2027 | 3,715 |  |  | 3,861 |  |  | SOFR + % (2)
6.75% Senior Notes due September 30, 2027 | 900 |  |  | 900 |  |  | 6.75 | %
Term B Facility due September 12, 2029 | 3,053 |  |  | 3,431 |  |  | SOFR + % (3)
1.29% Avira Mortgage due December 30, 2029 (1) | 4 |  |  | 4 |  |  | 1.29 | %
7.125% Senior Notes due September 30, 2030 | 600 |  |  | 600 |  |  | 7.13 | %
0.95% Avira Mortgage due December 30, 2030 (1) | 3 |  |  | 3 |  |  | 0.95 | %
Total principal amount | 9,375 |  |  | 9,899 |  |  |
Less: unamortized discount and issuance costs | (119) |  |  | (137) |  |  |
Total debt | 9,256 |  |  | 9,762 |  |  |
Less: current portion | (175) |  |  | (233) |  |  |
Total long-term debt | $ | 9,081 |  |  | $ | 9,529 |  |  |
(1) The Avira Mortgages are denominated in a foreign currency so the balances of these mortgages may fluctuate based on changes in foreign currency exchange rates. (2) Term A Facility due 2027 bears interest at a rate equal to Term SOFR plus a credit spread adjustment (CSA) plus a margin based either on the current debt rating of our non-credit-enhanced, senior unsecured long-term debt or consolidated adjusted leverage as defined in the underlying loan agreement. (3) Term B Facility due 2029 bears interest at a rate equal to Term SOFR plus CSA plus 2.00%. The interest rates for the outstanding term loans are as follows:
| December 29, 2023 |  | March 31, 2023
Term A Facility due September 12, 2027 | 6.96 | % |  | 6.66 | %
Term B Facility due September 12, 2029 | 7.46 | % |  | 6.91 | %
Schedule of Maturities of Long-term Debt | As of December 29, 2023, the future contractual maturities of debt by fiscal year are as follows:
(In millions) |
Remainder of 2024 | $ | 58 |
2025 | 176 |
2026 | 1,392 |
2027 | 233 |
2028 | 4,017 |
Thereafter | 3,499 |
Total future maturities of debt | $ | 9,375 |
Schedule of Interest Expense | The following table sets forth total interest expense recognized related to our Convertible Senior Notes:
| Nine Months Ended |  |
(In millions) | December 30, 2022 |  |  |  |
Contractual interest expense | $ | 4 |  |  |  |  |
Amortization of debt discount | $ | — |  |  |  |  |
Payments in lieu of conversion price adjustments (1) | $ | 1 |  |  |  |  |
(1) Payments in lieu of conversion price adjustments consist of amounts paid to holders of the Convertible Senior Notes when our quarterly dividend to our common stockholders exceeds the amounts defined in the Convertible Senior Notes agreements.

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