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Leases

9 Months Ended

Dec. 27, 2024

We lease certain facilities, equipment and data center co-locations under operating leases that expire on various dates through fiscal 2033. Our leases generally have terms that range from 1 year to 9 years for our facilities, 1 year to 5 years for equipment and 1 year to 7 years for data center co-locations. Some of our leases contain renewal options, escalation clauses, rent concessions and leasehold improvement incentives.

The following summarizes our lease costs:


	Three Months Ended				Nine Months Ended
(In millions)	December 27, 2024		December 29, 2023		December 27, 2024		December 29, 2023
Operating lease costs	$	3	$	3	$	10	$	9
Short-term lease costs	1		1		2		2
Variable lease costs	1		1		3		4
Total lease costs	$	5	$	5	$	15	$	15

Other information related to our operating leases was as follows:


	December 27, 2024		March 29, 2024
Weighted-average remaining lease term	4.8 years		4.6 years
Weighted-average discount rate	5.67	%	5.35	%

See Note 7 for cash flow information related to our operating leases.

As of December 27, 2024, the maturities of our lease liabilities by fiscal year are as follows:


(In millions)
Remainder of 2025	$	4
2026	15
2027	15
2028	9
2029	8
Thereafter	12
Total lease payments	63
Less: Imputed interest	(8)
Present value of lease liabilities	$	55