Debt (Tables)

12 Months Ended

Apr. 01, 2016

Debt Disclosure [Abstract]

Schedule of Debt

The following is a summary of the Company's debt as of April 1, 2016 and April 3, 2015:

(Amounts in millions)	April 1, 2016		April 3, 2015
Short-term debt and current maturities of long-term debt
Euro-denominated commercial paper	$	559	$	—
Current maturities of long-term debt	79		766
Current maturities of capitalized lease liabilities	72		117
Short-term debt and current maturities of long term debt	$	710	$	883
Long-term debt, net of current maturities
4.45% term notes, due September 2022	$	454	$	451
6.50% term notes, due March 2018	—		917
2.50% term notes, due September 2015	—		350
Loan payable, due March 2021	575		—
Loan payable, due January 2019	284		—
Loan payable, due March 2018	—		68
Loan payable, due May 2016	71		371
Payable - credit facility, various(1)	395		—
Lease credit facility, various(2)	49		—
Mandatorily redeemable preferred stock outstanding, due March 2023	61		61
Capitalized lease liabilities	141		202
Borrowings for assets acquired under long-term financing	51		95
Other borrowings	4		3
Long-term debt	2,085		2,518
Less: current maturities of long-term debt	151		883
Long-term debt, net of current maturities	$	1,934	$	1,635

⁽¹⁾  Borrowings under the $2.5 billion credit facility are classified as short-term debt if the Company intends to repay within twelve months and as long-term debt otherwise.

⁽²⁾  Drawings under the lease credit facility convert into individual term notes of variable terms up to sixty months therefrom, depending on the nature of the underlying equipment being financed. Borrowings under the lease credit facility are classified as short-term debt if the Company intends to repay within twelve months and as long-term debt otherwise.

Schedule of future minimum lease payments required under the capital leases

Expected maturities of long-term debt, including borrowings for asset financing but excluding future minimum capital lease payments, for fiscal years subsequent to April 1, 2016, are as follows:

Fiscal Year	Amount (in millions)
2017	$	79
2018	51
2019	326
2020	36
2021	935
Thereafter	517
Total	$	1,944

Schedule of long term debt expected maturities

The future minimum lease payments required to be made under the capital leases as of April 1, 2016, are as follows:

Fiscal Year	Amount (in millions)
2017	$	78
2018	35
2019	19
2020	13
2021	5
Thereafter	—
Total minimum lease payments	150
Less: Amount representing interest and executory costs	(9		)
Present value of net minimum lease payments	141
Less: Current maturities of capital lease obligations	(72		)
Long-term capitalized lease liabilities	$	69