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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
12 Months Ended
Mar. 30, 2019
Mar. 31, 2018
Apr. 01, 2017
Cash flows from operating activities      
Net income $ 542 $ 592 $ 552
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 225 208 220
Equity compensation expense 60 50 34
Impairment of long-lived assets 21 33 199
Losses on store lease exits 18 29 0
Deferred income taxes (71) 9 (60)
Amortization of deferred financing costs 4 4 1
Tax benefits on exercise of share options (24) (7) (7)
Foreign currency losses (gains) 80 (13) 3
Other non-cash charges 4 0 12
Change in assets and liabilities:      
Receivables, net (23) 19 60
Inventories (125) 46 21
Prepaid expenses and other current assets (31) 49 (1)
Accounts payable (48) (21) 37
Accrued expenses and other current liabilities 20 56 (54)
Other long-term assets and liabilities 42 8 18
Net cash provided by operating activities 694 1,062 1,035
Cash flows from investing activities      
Capital expenditures (181) (120) (165)
Purchase of intangible assets (3) (3) (5)
Cash paid for business acquisitions, net of cash acquired (1,875) (1,415) (481)
Realized (loss) gain on hedge related to acquisitions (77) 5 0
Settlement of a net investment hedge 11 0 0
Net cash used in investing activities (2,125) (1,533) (651)
Cash flows from financing activities      
Debt borrowings 4,204 2,520 1,240
Debt repayments (2,560) (1,784) (1,093)
Debt issuance costs (15) 0 0
Repurchase of treasury shares (207) (361) (1,005)
Exercise of employee share options 29 14 8
Net cash provided by (used in) financing activities 1,451 389 (850)
Effect of exchange rate changes on cash and cash equivalents (11) 15 (6)
Net increase (decrease) in cash and cash equivalents 9 (67) (472)
Beginning of period 163 230 702
End of period (including restricted cash of $2 million at April 1, 2017) 172 163 230
Supplemental disclosures of cash flow information      
Cash paid for interest 45 11 4
Cash paid for income taxes 172 104 171
Supplemental disclosure of non-cash investing and financing activities      
Accrued capital expenditures $ 25 $ 26 $ 23