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Derivative Financial Instruments (Tables) | 12 Months Ended
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Mar. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Fair Value of Derivative Contracts Recorded on Gross Basis in Consolidated Balance Sheets | The following table details the fair value of the Company’s derivative contracts, which are recorded on a gross basis in the consolidated balance sheets as of March 30, 2024 and April 1, 2023 (in millions):
|  |  |  |  | Fair Values |
| Notional Amounts |  | Assets |  | Liabilities |
| March 30, 2024 |  | April 1, 2023 |  | March 30, 2024 |  | April 1, 2023 |  | March 30, 2024 |  | April 1, 2023 |
Designated net investment hedges | $ | 3,850 |  |  | $ | 1,378 |  |  | $ | 12 |  | (1) | $ | 1 |  | (1) | $ | 88 |  | (2) | $ | 36 |  | (3)
Designated fair value hedges | — |  |  | 1,084 |  |  | — |  |  | — |  |  | — |  |  | 3 |  | (3)
Total hedges | $ | 3,850 |  |  | $ | 2,462 |  |  | $ | 12 |  |  | $ | 1 |  |  | $ | 88 |  |  | $ | 39 |  |
(1)Recorded within other assets in the Company’s consolidated balance sheets. (2)As of March 30, 2024, the Company recorded $3 million within accrued expenses and current liabilities and $85 million within other long-term liabilities in the Company’s consolidated balance sheets. (3)Recorded within other long-term liabilities in the Company’s consolidated balance sheets.
Schedule of Derivative Instruments on The Balance Sheets, Net Basis | However, if the Company were to offset and record the asset and liability balances for its derivative instruments on a net basis in accordance with the terms of its master netting arrangements, which provide for the right to set-off amounts for similar transactions denominated in the same currencies and with the same banks, the resulting impact as of March 30, 2024 and April 1, 2023 would be as follows (in millions):
|  |  | Net Investment Hedges |  | Fair Value Hedges
|  |  |  |  | March 30, 2024 |  | April 1, 2023 |  | March 30, 2024 |  | April 1, 2023
Assets subject to master netting arrangements |  |  |  |  | $ | 12 |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |
Liabilities subject to master netting arrangements |  |  |  |  | $ | 88 |  |  | $ | 36 |  |  | $ | — |  |  | $ | 3 |
Derivative assets, net |  |  |  |  | $ | 8 |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |
Derivative liabilities, net |  |  |  |  | $ | 84 |  |  | $ | 36 |  |  | $ | — |  |  | $ | 3 |
Reclassification out of Accumulated Other Comprehensive Income | The following table summarizes the pre-tax impact of the gains and losses on the Company’s designated forward foreign currency exchange contracts, net investment hedges and fair value hedges (in millions):
| Fiscal Year Ended March 30, 2024 |  | Fiscal Year Ended April 1, 2023 |  | Fiscal Year Ended April 2, 2022
| Pre-Tax Losses Recognized in OCI |  | Pre-Tax Gains/(Losses) Recognized in OCI |  | Pre-Tax Gains Recognized in OCI
Designated forward foreign currency exchange contracts | $ | — |  |  | $ | 8 |  |  | $ | 11 |
Designated net investment hedges | $ | (17) |  |  | $ | 338 |  |  | $ | 435 |
Designated fair value hedges | $ | (8) |  |  | $ | (6) |  |  | $ | — |
The following tables summarize the pre-tax impact of the gains and losses within the consolidated statements of operations and comprehensive (loss) income related to the designated forward foreign currency exchange contracts and the designated fair value hedges (in millions):
| Fiscal Year Ended
| Pre-Tax (Gains) Losses Reclassified from Accumulated OCI |  | Location of (Gains) Losses Recognized
| March 30, 2024 |  | April 1, 2023 |  | April 2, 2022 |
Designated forward foreign currency exchange contracts | $ | (4) |  |  | $ | (14) |  |  | $ | 1 |  |  | Cost of goods sold
Designated fair value hedges | $ | 14 |  |  | $ | — |  |  | $ | — |  |  | Foreign currency loss

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