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LEASES | 12 Months Ended
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Mar. 30, 2024
Leases [Abstract] |
LEASES | LEASES The assets and liabilities related to operating and finance leases were as follows:
(In thousands) | Location in Consolidated Balance Sheet |  |  | March 2024 |  |  | March 2023
Assets: |  |  |  |  |  |  |
Operating lease assets | Operating lease right-of-use assets |  |  | $ | 1,330,361 |  |  |  | $ | 1,372,182 |
Finance lease assets | Property, plant and equipment, net |  |  | 11,500 |  |  |  | 12,417 |
Total lease assets |  |  |  | $ | 1,341,861 |  |  |  | $ | 1,384,599 |
Liabilities: |  |  |  |  |  |  |
Current |  |  |  |  |  |  |
Operating lease liabilities | Accrued liabilities |  |  | $ | 309,444 |  |  |  | $ | 332,222 |
Finance lease liabilities | Current portion of long-term debt |  |  | 981 |  |  |  | 951 |
Noncurrent |  |  |  |  |  |  |
Operating lease liabilities | Operating lease liabilities |  |  | 1,156,858 |  |  |  | 1,171,941 |
Finance lease liabilities | Long-term debt |  |  | 15,178 |  |  |  | 16,287 |
Total lease liabilities |  |  |  | $ | 1,482,461 |  |  |  | $ | 1,521,401 |
The components of lease costs were as follows:
|  | Year Ended March
(In thousands) |  | 2024 |  |  | 2023 |  | 2022
Operating lease cost |  | $ | 426,602 |  |  |  | $ | 418,716 |  |  | $ | 435,637 |
Finance lease cost – amortization of right-of-use assets |  | 917 |  |  |  | 917 |  |  | 917 |
Finance lease cost – interest on lease liabilities |  | 457 |  |  |  | 486 |  |  | 513 |
Short-term lease cost |  | 25,256 |  |  |  | 22,154 |  |  | 17,602 |
Variable lease cost |  | 132,474 |  |  |  | 117,189 |  |  | 98,052 |
Impairment |  | 12,958 |  |  |  | — |  |  | 4,279 |
Gain recognized from sale-leaseback transaction |  | — |  |  |  | (13,189) |  |  | — |
Total lease cost |  | $ | 598,664 |  |  |  | $ | 546,273 |  |  | $ | 557,000 |
Supplemental cash flow information related to leases was as follows:
|  | Year Ended March
(In thousands) |  | 2024 |  |  | 2023 |  | 2022
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |
Operating cash flows – operating leases |  | $ | 441,269 |  |  |  | $ | 428,443 |  |  | $ | 465,249 |
Operating cash flows – finance leases |  | 457 |  |  |  | 486 |  |  | 513 |
Financing cash flows – finance leases |  | 1,079 |  |  |  | 1,050 |  |  | 1,023 |
Right-of-use assets obtained in exchange for lease liabilities: |  |  |  |  |  |  |
Operating leases |  | 361,959 |  |  |  | 545,856 |  |  | 205,811 |
Finance leases |  | — |  |  |  | — |  |  | — |
Lease terms and discount rates were as follows:
|  | March 2024 |  |  | March 2023 |  | March 2022
Weighted average remaining lease term: |  |  |  |  |  |  |
Operating leases |  | 6.26 years |  |  | 6.60 years |  | 6.17 years
Finance leases |  | 12.51 years |  |  | 13.51 years |  | 14.51 years
Weighted average discount rate: |  |  |  |  |  |  |
Operating leases |  | 3.29 | % |  |  | 2.61 | % |  | 1.78 | %
Finance leases |  | 2.71 | % |  |  | 2.71 | % |  | 2.71 | %
Maturities of operating and finance lease liabilities for the next five fiscal years and thereafter as of March 2024 were as follows:
(In thousands) |  | Operating Leases |  | Finance Leases |  | Total |
2025 |  | $ | 354,808 |  |  | $ | 1,408 |  |  | $ | 356,216 |  |
2026 |  | 312,351 |  |  | 1,536 |  |  | 313,887 |  |
2027 |  | 266,884 |  |  | 1,664 |  |  | 268,548 |  |
2028 |  | 190,088 |  |  | 1,536 |  |  | 191,624 |  |
2029 |  | 125,901 |  |  | 1,408 |  |  | 127,309 |  |
Thereafter |  | 375,946 |  |  | 11,523 |  |  | 387,469 |  |
Total lease payments |  | 1,625,978 |  |  | 19,075 |  |  | 1,645,053 |  |
Less: present value adjustment |  | 159,676 |  |  | 2,916 |  |  | 162,592 |  |
Present value of lease liabilities |  | $ | 1,466,302 |  |  | $ | 16,159 |  |  | $ | 1,482,461 |  |
The Company excluded approximately $82.3 million of leases (undiscounted basis) that have not yet commenced. These leases will commence primarily in Fisc al 2025 wit h lease terms of 1 to 15 years.
LEASES | LEASES The assets and liabilities related to operating and finance leases were as follows:
(In thousands) | Location in Consolidated Balance Sheet |  |  | March 2024 |  |  | March 2023
Assets: |  |  |  |  |  |  |
Operating lease assets | Operating lease right-of-use assets |  |  | $ | 1,330,361 |  |  |  | $ | 1,372,182 |
Finance lease assets | Property, plant and equipment, net |  |  | 11,500 |  |  |  | 12,417 |
Total lease assets |  |  |  | $ | 1,341,861 |  |  |  | $ | 1,384,599 |
Liabilities: |  |  |  |  |  |  |
Current |  |  |  |  |  |  |
Operating lease liabilities | Accrued liabilities |  |  | $ | 309,444 |  |  |  | $ | 332,222 |
Finance lease liabilities | Current portion of long-term debt |  |  | 981 |  |  |  | 951 |
Noncurrent |  |  |  |  |  |  |
Operating lease liabilities | Operating lease liabilities |  |  | 1,156,858 |  |  |  | 1,171,941 |
Finance lease liabilities | Long-term debt |  |  | 15,178 |  |  |  | 16,287 |
Total lease liabilities |  |  |  | $ | 1,482,461 |  |  |  | $ | 1,521,401 |
The components of lease costs were as follows:
|  | Year Ended March
(In thousands) |  | 2024 |  |  | 2023 |  | 2022
Operating lease cost |  | $ | 426,602 |  |  |  | $ | 418,716 |  |  | $ | 435,637 |
Finance lease cost – amortization of right-of-use assets |  | 917 |  |  |  | 917 |  |  | 917 |
Finance lease cost – interest on lease liabilities |  | 457 |  |  |  | 486 |  |  | 513 |
Short-term lease cost |  | 25,256 |  |  |  | 22,154 |  |  | 17,602 |
Variable lease cost |  | 132,474 |  |  |  | 117,189 |  |  | 98,052 |
Impairment |  | 12,958 |  |  |  | — |  |  | 4,279 |
Gain recognized from sale-leaseback transaction |  | — |  |  |  | (13,189) |  |  | — |
Total lease cost |  | $ | 598,664 |  |  |  | $ | 546,273 |  |  | $ | 557,000 |
Supplemental cash flow information related to leases was as follows:
|  | Year Ended March
(In thousands) |  | 2024 |  |  | 2023 |  | 2022
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |  |
Operating cash flows – operating leases |  | $ | 441,269 |  |  |  | $ | 428,443 |  |  | $ | 465,249 |
Operating cash flows – finance leases |  | 457 |  |  |  | 486 |  |  | 513 |
Financing cash flows – finance leases |  | 1,079 |  |  |  | 1,050 |  |  | 1,023 |
Right-of-use assets obtained in exchange for lease liabilities: |  |  |  |  |  |  |
Operating leases |  | 361,959 |  |  |  | 545,856 |  |  | 205,811 |
Finance leases |  | — |  |  |  | — |  |  | — |
Lease terms and discount rates were as follows:
|  | March 2024 |  |  | March 2023 |  | March 2022
Weighted average remaining lease term: |  |  |  |  |  |  |
Operating leases |  | 6.26 years |  |  | 6.60 years |  | 6.17 years
Finance leases |  | 12.51 years |  |  | 13.51 years |  | 14.51 years
Weighted average discount rate: |  |  |  |  |  |  |
Operating leases |  | 3.29 | % |  |  | 2.61 | % |  | 1.78 | %
Finance leases |  | 2.71 | % |  |  | 2.71 | % |  | 2.71 | %
Maturities of operating and finance lease liabilities for the next five fiscal years and thereafter as of March 2024 were as follows:
(In thousands) |  | Operating Leases |  | Finance Leases |  | Total |
2025 |  | $ | 354,808 |  |  | $ | 1,408 |  |  | $ | 356,216 |  |
2026 |  | 312,351 |  |  | 1,536 |  |  | 313,887 |  |
2027 |  | 266,884 |  |  | 1,664 |  |  | 268,548 |  |
2028 |  | 190,088 |  |  | 1,536 |  |  | 191,624 |  |
2029 |  | 125,901 |  |  | 1,408 |  |  | 127,309 |  |
Thereafter |  | 375,946 |  |  | 11,523 |  |  | 387,469 |  |
Total lease payments |  | 1,625,978 |  |  | 19,075 |  |  | 1,645,053 |  |
Less: present value adjustment |  | 159,676 |  |  | 2,916 |  |  | 162,592 |  |
Present value of lease liabilities |  | $ | 1,466,302 |  |  | $ | 16,159 |  |  | $ | 1,482,461 |  |
The Company excluded approximately $82.3 million of leases (undiscounted basis) that have not yet commenced. These leases will commence primarily in Fisc al 2025 wit h lease terms of 1 to 15 years.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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- Definition The entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent + Details
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