Pension and Other Benefit Plans (Tables)

12 Months Ended

Mar. 28, 2014

Pension And Other Benefit Plans [Abstract]

Schedule of defined benefit plans disclosures

Information about the expected cash flows for pension plans as of March 28, 2014, is as follows:

(Amounts in millions)	U.S. Plans		Non-U.S. Plans
Employer contributions:
2015	$	8	$	83
Benefit Payments:
2015	$	158	$	102
2016	169		105
2017	181		114
2018	192		122
2019	200		132
2020-2024	1,100		795

The weighted-averages of the assumptions used to determine net periodic pension cost were:

	U.S. Pension Plans						Non-U.S. Pension Plans
	March 28, 2014		March 29, 2013		March 30, 2012		March 28, 2014		March 29, 2013		March 30, 2012
Discount or settlement rates	4.4	%	4.6	%	5.7	%	4.1	%	4.7	%	5.2	%
Expected long-term rates of return on assets	7.2	%	6.8	%	7.5	%	6.2	%	5.4	%	6.1	%
Rates of increase in compensation levels	4.3	%	4.1	%	4.3	%	3.5	%	4.1	%	4.1	%

The weighted-averages of the assumptions used to determine net periodic benefit cost were as follows.

Fiscal Year End	2014		2013		2012
Discount or settlement rates	4.1	%	4.5	%	5.3	%
Expected long-term rates of return on assets	5.9	%	6.5	%	7.2	%

Following are the expected cash flows for U.S.-based other post-retirement benefit plans:

(Amounts in millions)	U.S. Plans
Employer Contributions:
2015	$	4
Benefit Payments:
2015	$	13
2016	14
2017	15
2018	16
2019	17
2020-2024	82

The following tables provide reconciliations of the changes in the pension plans’ projected benefit obligations and assets, and a statement of their funded status:

Reconciliation of Projected Benefit Obligation	U.S. Pension Plans						Non-U.S. Pension Plans
(Amounts in millions)	March 28, 2014			March 29, 2013			March 28, 2014			March 29, 2013
Projected benefit obligation at beginning of year	$	3,506		$	3,284		$	3,012		$	2,732
Service cost	5			10			25			25
Interest cost	149			153			124			123
Plan participants’ contributions	1			3			6			7
Amendments	—			—			(254		)	(28		)
Business/contract acquisitions/divestitures	(107		)	—			9			(9		)
Contractual termination benefits	—			—			17			20
Settlement/curtailment	—			(5		)	(46		)	(37		)
Actuarial loss (gain)	3			194			(135		)	400
Benefits paid	(148		)	(133		)	(88		)	(79		)
Foreign currency exchange rate changes	—			—			205			(142		)
Other	—			—			(2		)	—
Projected benefit obligation at end of year	$	3,409		$	3,506		$	2,873		$	3,012

Reconciliation of Fair Value of Plan Assets	U.S. Pension Plans						Non-U.S. Pension Plans
(Amounts in millions)	March 28, 2014			March 29, 2013			March 28, 2014			March 29, 2013
Fair value of plan assets at beginning of year	$	3,125		$	2,419		$	2,550		$	2,295
Actual return on plan assets	364			245			129			314
Employer contribution	7			591			81			157
Plan participants’ contributions	1			3			6			7
Benefits paid	(148		)	(133		)	(88		)	(79		)
Business/contract acquisitions/divestitures	(86		)	—			9			5
Plan settlement	—			—			(46		)	(30		)
Foreign currency exchange rate changes	—			—			183			(119		)
Fair value of plan assets at end of year	$	3,263		$	3,125		$	2,824		$	2,550
Funded status at end of year	$	(146	)	$	(381	)	$	(49	)	$	(462	)

The following table provides the amounts recorded in the Company’s Consolidated Balance Sheet:

	U.S. Pension Plans						Non-U.S. Pension Plans
(Amounts in millions)	March 28, 2014			March 29, 2013			March 28, 2014			March 29, 2013
Non-current assets	$	—		$	—		$	166		$	23
Current liabilities - Accrued expenses and other current liabilities	(8		)	(7		)	(7		)	(3		)
Non-current liabilities - Other long-term liabilities	(138		)	(374		)	(208		)	(482		)
Net amount recorded	$	(146	)	$	(381	)	$	(49	)	$	(462	)

The following is a summary of amounts in accumulated other comprehensive loss, before tax effects, as of March 28, 2014 and March 29, 2013 that have not been recognized in the Consolidated Statements of Operations as components of net periodic pension cost:

	U.S. Pension Plans				Non-U.S. Pension Plans
(Amounts in millions)	March 28, 2014		March 29, 2013		March 28, 2014			March 29, 2013
	(As Adjusted)		(As Adjusted)		(As Adjusted)			(As Adjusted)
Net transition obligation	$	—	$	—	$	3		$	3
Prior service cost (benefit)	2		5		(279		)	(24		)
Accumulated other comprehensive loss	$	2	$	5	$	(276	)	$	(21	)

The following table summarizes the weighted average assumptions used in the determination of the Company’s pension plans’ benefit obligations as of March 28, 2014 and March 29, 2013:

	U.S. Pension Plans				Non-U.S. Pension Plans
	March 28, 2014		March 29, 2013		March 28, 2014		March 29, 2013
Discount rate	4.6	%	4.4	%	4.3	%	4.1	%
Rates of increase in compensation levels	4.3	%	4.1	%	3.4	%	3.5	%

The following table lists selected information for the pension plans as of March 28, 2014 and March 29, 2013:

	U.S. Pension Plans				Non-U.S. Pension Plans
(Amounts in millions)	March 28, 2014		March 29, 2013		March 28, 2014		March 29, 2013
Projected benefit obligation	$	3,409	$	3,506	$	2,873	$	3,012
Accumulated benefit obligation	3,394		3,487		2,833		2,969
Fair value of plan assets	3,263		3,125		2,824		2,550

	Pension Plans with Projected Benefit Obligation in Excess of Plan Assets (U.S. and Non-U.S.)				Pension Plans with Accumulated Benefit Obligation in Excess of Plan Assets (U.S. and Non-U.S.)
(Amounts in millions)	March 28, 2014		March 29, 2013		March 28, 2014		March 29, 2013
Projected benefit obligation	$	3,945	$	6,270	$	3,917	$	6,132
Accumulated benefit obligation	3,906		6,217		3,888		6,100
Fair value of plan assets	3,585		5,405		3,564		5,276

The net periodic pension cost for U.S. and non-U.S. pension plans included the following components:

	U.S. Pension Plans									Non-U.S. Pension Plans
(Amounts in millions)	March 28, 2014			March 29, 2013			March 30, 2012			March 28, 2014			March 29, 2013			March 30, 2012
	(As Adjusted)			(As Adjusted)			(As Adjusted)			(As Adjusted)			(As Adjusted)			(As Adjusted)
Service cost	$	5		$	10		$	10		$	25		$	25		$	33
Interest cost	149			153			164			124			123			128
Expected return on assets	(216		)	(170		)	(168		)	(166		)	(122		)	(129		)
Amortization of transition obligation	—			—			—			1			1			1
Amortization of prior service costs	2			2			2			(5		)	(1		)	1
Recognition of actuarial (gains)/losses	(138		)	115			342			(101		)	199			131
Contractual termination benefit	—			—			—			17			20			20
Settlement gains	(28		)	—			—			—			(8		)	(5		)
Net periodic pension (benefit) cost	$	(226	)	$	110		$	350		$	(105	)	$	237		$	180

Other before tax changes in plan assets and benefit obligations recognized in other comprehensive income during fiscal years 2014, 2013 and 2012 included the following components:

	U.S. Pension Plans									Non-U.S. Pension Plans
(Amounts in millions)	March 28, 2014			March 29, 2013			March 30, 2012			March 28, 2014			March 29, 2013			March 30, 2012
	(As Adjusted)			(As Adjusted)			(As Adjusted)			(As Adjusted)			(As Adjusted)			(As Adjusted)
Prior service (credit) / cost	$	—		$	—		$	—		$	(265	)	$	(27	)	$	(11	)
Amortization of:
Transition (asset) /obligation	—			—			—			(1		)	(1		)	(1		)
Prior service (credit) / cost	(2		)	(2		)	(2		)	5			1			(1		)
Foreign currency exchange rate changes	—			—			—			(2		)	—			2
Total recognized in other comprehensive income	$	(2	)	$	(2	)	$	(2	)	$	(263	)	$	(27	)	$	(11	)

The following tables provide reconciliations of the changes in postretirement plans’ benefit obligations and assets and a statement of their funded status:

Reconciliation of Accumulated Postretirement Benefit Obligation
(Amounts in millions)	March 28, 2014			March 29, 2013
Accumulated benefit obligation at beginning of year	$	253		$	253
Service cost	3			4
Interest cost	10			11
Business/contract acquisitions/divestitures	(15		)	—
Actuarial loss (gain)	(16		)	(6		)
Benefits paid	(11		)	(10		)
Retiree drug subsidy reimbursement	1			1
Foreign currency exchange rate changes	(1		)	—
Other	(3		)	—
Accumulated benefit obligation at end of year	$	221		$	253

Reconciliation of Fair Value of Plan Assets
(Amounts in millions)	March 28, 2014			March 29, 2013
Fair value of plan assets at beginning of year	$	84		$	81
Actual return on plan assets	10			7
Employer contribution	6			6
Retiree drug subsidy	1			—
Business contract/acquisitions/divestitures	(8		)	—
Benefits paid	(11		)	(10		)
Fair value of plan assets at end of year	$	82		$	84
Funded status at end of year	$	(139	)	$	(169	)

The following table provides the amounts recorded in the Company’s Consolidated Balance Sheets:

(Amounts in millions)	March 28, 2014			March 29, 2013
Current liabilities - Accrued expenses and other current liabilities	$	(4	)	$	(5	)
Non-current liabilities - Other long-term liabilities	(135		)	(164		)
Net amount recorded	$	(139	)	$	(169	)

The amounts in accumulated other comprehensive loss as of March 28, 2014 and March 29, 2013 that have not been recognized in the Consolidated Statements of Operations as components of net periodic benefit cost include:

(Amounts in millions)	March 28, 2014			March 29, 2013
	(As Adjusted)			(As Adjusted)
Prior service (gain)	$	(15	)	$	(17	)

The following table lists selected information for other postretirement benefit plans as of March 28, 2014 and March 29, 2013:

					Plans with Accumulated Postretirement Benefit Obligation in Excess of the Fair Value of Plan Assets
(Amounts in millions)	March 28, 2014		March 29, 2013		March 28, 2014		March 29, 2013
Accumulated postretirement benefit obligation	$	221	$	253	$	221	$	253
Fair value of plan assets	82		84		82		84

As of March 28, 2014 and March 29, 2013, the Company had no postretirement healthcare plan assets outside the U.S. Benefits paid include amounts paid directly from plan assets and amounts paid by the Company.    

The following table summarizes the weighted average assumptions used in the determination of the Company’s postretirement benefit obligations as of March 28, 2014 and March 29, 2013:

	March 28, 2014		March 29, 2013
Discount rate	4.3	%	4.1	%

The assumed healthcare cost trend rate used in measuring the accumulated postretirement benefit obligation was 8.8% for fiscal 2015, declining to 4.9% for 2024 and subsequent years for all retirees. Assumed healthcare cost trend rates have a significant effect on the amounts reported for the healthcare plans. A one-percentage point change in the assumed healthcare cost trend rates would have had the following effect:

	One Percentage Point
(Amounts in millions)	Increase		Decrease
Effect on accumulated postretirement benefit obligation as of March 28, 2014	$	12	$	(10	)
Effect on net periodic postretirement service and interest cost for fiscal 2014	1		(1		)

The net periodic benefit cost for other postretirement benefit plans included the following components:

(Amounts in millions)	March 28, 2014			March 29, 2013		March 30, 2012
	(As Adjusted)			(As Adjusted)		(As Adjusted)
Service cost	$	3		$	4	$	3
Interest cost	10			11		11
Expected return on assets	(5)			(5)		(6)
Amortization of transition obligation	—			—		1
Amortization of prior service costs	(2)			(2)		(6)
Recognition of Actuarial (Gains)/Losses	(20)			(8)		21
Settlement (gain)	(8)			—		—
Net provision for postretirement benefits	$	(22	)	$	—	$	24

Other before tax changes in plan assets and benefit obligations recognized in other comprehensive income during fiscal years 2014, 2013 and 2012 included the following components:

(Amounts in millions)	March 28, 2014		March 29, 2013		March 30, 2012
	(As Adjusted)		(As Adjusted)		(As Adjusted)
Prior service (credit) / cost	—		—		21
Amortization of:
Transition (asset) /obligation	—		—		(1		)
Prior service (credit) / cost	2		2		6
Total recognized in other comprehensive income	$	2	$	2	$	26

Schedule of fair value of financial assets for pension and postretirement benefits

The fair value of pension plan assets and postretirement benefit plans by investment category and the corresponding level within the fair value hierarchy as of March 28, 2014 are as follows:

(Amounts in millions)	U.S. Plans		Non-U.S. Plans
Fair value of pension plan assets	$	3,263	$	2,824
Fair value of other postretirement benefit plan assets	82		—
Total fair value of retirement plan assets as of March 28, 2014	$	3,345	$	2,824

U.S. Pension and Other Postretirement Benefit Plans
(Amounts in millions)		Level 1		Level 2		Level 3		Total
Equity:
	Global/International	$	38	$	—	$	—	$	38
	U.S. Domestic Stocks	256		—		—		256
	Domestic Equity commingled funds	5		577		—		582
	Global Equity commingled funds	—		312		—		312
Fixed Income:
	U.S. Treasuries	—		57		—		57
	U.S. Government Agencies	—		3		—		3
	Non U.S. Government	—		2		—		2
	Mortgage and asset backed securities	—		89		—		89
	Corporate	—		54		—		54
	Fixed income commingled funds	3		771		—		774
Alternatives:
	Hedge Funds (a)	—		—		328		328
	Other Alternatives (b)	324		499		—		823
Cash and Cash equivalents		—		54		—		54
Total		$	626	$	2,418	$	328	$	3,372
Unsettled Trade Receivable and Accrued Income								28
Unsettled Trade Payable and Accrued Expenses								(55		)
Fair value of assets for U.S. pension and postretirement medical plans as of March 28, 2014								$	3,345

(a) Represents investments in diversified fund of hedge funds in which the CSC pension plans are the sole investor.

(b) Represents institutional funds consisting mainly of equities, bonds, or commodities.

Below is a reconciliation of the assets valued using significant unobservable inputs (Level 3):

(Amounts in millions)	Level 3
Beginning balance as of March 29, 2013	$	—
Actual return on plan assets held at the reporting date	(2		)
Actual return on plan assets sold during the period	—
Purchases, sales, and settlements	330
Transfers in and / or out of Level 3	—
Changes due to exchange rates	—
Ending balance as of March 28, 2014	$	328

Non-U.S. Pension Plan Assets
(Amounts in millions)		Level 1		Level 2		Level 3		Total
Equity:
	U.S./North American Equity commingled funds	$	—	$	47	$	—	$	47
	Global/International Equity commingled funds	—		899		—		899
	Global equity mutual funds	—		81		—		81
Fixed Income:
	Fixed income commingled funds	—		951		—		951
Insurance contracts		—		161		6		167
Alternatives:
Hedge Funds (a)		—				177		177
Other Alternatives (b)		—		460		26		486
Cash and cash equivalents		—		16		—		16
Total		$	—	$	2,615	$	209	$	2,824
Unsettled Trades								—
Fair value of non-U.S. pension assets as of March 28, 2014								$	2,824

(a) Represents investments in diversified fund of hedge funds.

(b) Represents real estate, liability-driven investments, and other commingled funds consisting mainly of equities, bonds, or commodities.

Below is a reconciliation of the assets valued using significant unobservable inputs (Level 3):

	Non-U.S. Plans Insurance Contracts
(Amounts in millions)
Beginning balance as of March 29, 2013	$	6
Actual return on plan assets held at the reporting date	—
Actual return on plan assets sold during the period	—
Purchases, sales, and settlements	164
Transfers in and / or out of Level 3	32
Changes due to exchange rates	7
Ending balance as of March 28, 2014	$	209

The fair value of our pension plan assets and postretirement benefit plans by investment category and the corresponding level within the fair value hierarchy as of March 29, 2013, are as follows:

(Amounts in millions)	U.S. Plans		Non-U.S. Plans
Fair value of pension plan assets	$	3,125	$	2,550
Fair value of other postretirement benefit plan assets	84		—
Total fair value of retirement plan assets as of March 29, 2013	$	3,209	$	2,550

U.S. Pension and Other Postretirement Benefit Plans
(Amounts in millions)		Level 1		Level 2		Level 3		Total
Equity:
	Global/International	$	31	$	38	$	—	$	69
	U.S. Domestic Stocks	51		—		—		51
	Domestic Equity commingled funds	5		1,325		—		1,330
	Global Equity commingled funds	—		380		—		380
	Global Equity mutual funds	83		—		—		83
Fixed Income:
	U.S. Treasuries	—		87		—		87
	U.S. Government Agencies	—		11		—		11
	Non U.S. Government	—		5		—		5
	Mortgage and asset backed securities	—		131		—		131
	Corporate	—		74		—		74
	Fixed income commingled funds	3		959		—		962
Cash and cash equivalents		8		117		—		125
Total		$	181	$	3,127	$	—	$	3,308
Unsettled Trade Receivable and Accrued Income								79
Unsettled Trade Payable and Accrued Expenses								(178		)
Fair value of assets for U.S. pension and postretirement medical plans as of March 29, 2013								$	3,209

NON-U.S. PENSION PLAN ASSETS
(Amounts in millions)		Level 1		Level 2		Level 3		Total
Equity:
	U.S./North American Equity commingled funds	$	—	$	54	$	—	$	54
	Global/International Equity commingled funds	—		915		—		915
	Global equity mutual funds	—		—		—		—
Fixed Income:
	Fixed income commingled funds	—		1,311		—		1,311
Insurance contracts		—		157		6		163
Alternatives		—		83		—		83
Cash equivalents		—		25		—		25
Total		$	—	$	2,545	$	6	$	2,551
Unsettled Trades								(1		)
Fair value of non-U.S. pension assets as of March 29, 2013								$	2,550

Below is a reconciliation of the assets valued using significant unobservable inputs (Level 3):

	Non-U.S. Plans Insurance Contracts
(Amounts in millions)
Beginning balance as of March 30, 2012	$	5
Asset acquired in purchase of iSOFT
Actual return on plan assets relating to assets still held at the reporting date	1
Actual return on plan assets relating to assets sold during the period	—
Purchases, sales, and settlements	—
Transfers in and / or out of Level 3	—
Changes due to exchange rates	—
Ending balance as of March 29, 2013	$	6

The asset allocation of pension plans at March 28, 2014 and March 29, 2013, respectively, is as follows:

	U.S. Plans				Non-U.S. Plans
Asset Category	March 28, 2014		March 29, 2013		March 28, 2014		March 29, 2013
Equity securities	35	%	58	%	36	%	38	%
Debt securities	29	%	38	%	34	%	51	%
Alternatives	34	%	—	%	24	%	4	%
Cash and other	2	%	4	%	6	%	7	%
Total	100	%	100	%	100	%	100	%

The asset allocation for U.S. other postretirement benefit plans at March 28, 2014 and March 29, 2013, respectively, is as follows:

	Percentage of Plan Assets at Year End
Asset Category	March 28, 2014		March 29, 2013
Equity securities	59	%	29	%
Debt securities	38	%	19	%
Cash and other	3	%	52	%
Total	100	%	100	%