Subsequent Events

3 Months Ended

Jul. 01, 2016

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

On July 5, 2016, the Company completed the previously announced acquisition of Aspediens. Aspediens is a provider of technology-enabled solutions for the service-management sector and a preferred partner of ServiceNow. With headquarters in Switzerland, Aspediens has operations in Germany, France and Spain. Aspediens will join the CSC ServiceNow practice within Fruition Partners, a CSC company and ServiceNow platform that also includes UXC Keystone, Australia’s ServiceNow practice within UXC, a CSC company.

On July 25, 2016, CSC exercised an option under its revolving credit agreement to incur incremental commitments in an aggregate amount of $100 million. The incurrence of the incremental commitments resulted in an increase in the aggregate outstanding facility size from $2.9 billion to $3.0 billion, of which $2.8 billion matures on January 15, 2021 and $150 million matures on January 15, 2020. In addition, the Company entered into conditional revolver commitments totaling $740 million that are contingent on the closing of its announced merger with the Enterprise Services segment of HPE which will further expand CSC's borrowing capacity to $3.7 billion, if the Company accepts such commitments.

On July 25, 2016, the Company, through its CSC Australia PTY Limited (CSCA) subsidiary, entered into a $100 million AUD term loan credit facility maturing July 2021. The AUD term loan agreement permits the Company to request incremental term loans of up to $175 million AUD, which, if requested by the Company and agreed to by the lenders, would result in a maximum of $275 million AUD in total term facilities.