v3.25.4

Fair Value Measurements (Tables) | 9 Months Ended
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Dec. 27, 2025
Fair Value Disclosures [Abstract] |
Schedule of Fair Value Measured and Recorded on a Recurring Basis | All derivative contracts are measured and recorded at fair value on a recurring basis and are categorized in Level 2 of the fair value hierarchy, as shown in the following table (in millions):
| Fair value at December 27, 2025 using: |  | Fair value at March 29, 2025 using:
| Quoted prices in active markets for identical assets (Level 1) |  | Significant other observable inputs (Level 2) |  | Significant unobservable inputs (Level 3) |  | Quoted prices in active markets for identical assets (Level 1) |  | Significant other observable inputs (Level 2) |  | Significant unobservable inputs (Level 3)
Derivative assets: |  |  |  |  |  |  |  |  |  |  |
Undesignated forward foreign currency exchange contracts | $ | — |  |  | $ | 4 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total derivative assets | $ | — |  |  | $ | 4 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Derivative liabilities: |  |  |  |  |  |  |  |  |  |  |
Designated forward foreign currency exchange contracts | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |
Net investment hedges | — |  |  | 891 |  |  | — |  |  | — |  |  | 289 |  |  | — |
Total derivative liabilities | $ | — |  |  | $ | 892 |  |  | $ | — |  |  | $ | — |  |  | $ | 291 |  |  | $ | — |
Schedule of Carrying Values and Estimated Fair Values of Debt, Based on Level 2 Measurements | The following table summarizes the carrying values and estimated fair values of the Company’s debt, based on Level 2 measurements (in millions):
| December 27, 2025 |  | March 29, 2025
| Carrying Value |  | Estimated Fair Value |  | Carrying Value |  | Estimated Fair Value
Revolving Credit Facilities | $ | 221 |  |  | $ | 221 |  |  | $ | 755 |  |  | $ | 755 |
2025 Term Loans | $ | — |  |  | $ | — |  |  | $ | 706 |  |  | $ | 699 |
Schedule of Carrying Values and Fair Values of Assets Impaired | The following table details the carrying values and fair values of the Company’s assets that have been impaired during the three and nine months ended December 27, 2025 and the three and nine months ended December 28, 2024 (in millions):
| Three Months Ended December 27, 2025 |  | Three Months Ended December 28, 2024 |  |
| Carrying Value Prior to Impairment |  | Fair Value |  | Impairment Charge |  | Carrying Value Prior to Impairment |  | Fair Value |  | Impairment Charge |  |
Operating lease right-of-use assets | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |
Goodwill | — |  |  | — |  |  | — |  |  | 159 |  |  | 93 |  |  | 66 |  |  |
Brands | — |  |  | — |  |  | — |  |  | 213 |  |  | 198 |  |  | 15 |  |  |
Property and equipment, net | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |
Total | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 372 |  |  | $ | 291 |  |  | $ | 81 |  |  |
| Nine Months Ended December 27, 2025 |  | Nine Months Ended December 28, 2024 |  |
| Carrying Value Prior to Impairment |  | Fair Value |  | Impairment Charge |  | Carrying Value Prior to Impairment |  | Fair Value |  | Impairment Charge |  |
Operating lease right-of-use assets | $ | 43 |  |  | $ | 27 |  |  | $ | 16 |  |  | $ | 42 |  |  | $ | 24 |  |  | $ | 18 |  |  |
Goodwill | — |  |  | — |  |  | — |  |  | 159 |  |  | 93 |  |  | 66 |  |  |
Brands | — |  |  | — |  |  | — |  |  | 213 |  |  | 198 |  |  | 15 |  |  |
Property and equipment, net | 8 |  |  | 3 |  |  | 5 |  |  | 3 |  |  | 1 |  |  | 2 |  |  |
Total | $ | 51 |  |  | $ | 30 |  |  | $ | 21 |  |  | $ | 417 |  |  | $ | 316 |  |  | $ | 101 |  |  |

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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