Income Taxes (Tables)

12 Months Ended

Apr. 02, 2021

Income Tax Disclosure [Abstract]

Schedule of Difference Between Effective Income Tax and Federal Statutory Income Tax

The U.S. federal statutory income tax rates we have applied for fiscal 2021, 2020, and 2019 are as follows:

	Year Ended
	April 2, 2021		April 3, 2020		March 29, 2019
U.S. federal statutory income tax rate	21.0	%	21.0	%	21.0	%

The difference between our effective income tax and the federal statutory income tax is as follows:

	Year Ended
(In millions)	April 2, 2021		April 3, 2020		March 29, 2019
Federal statutory tax expense (benefit)	$	183	$	172	$	(23)
State taxes, net of federal benefit	25		22		(11)
Foreign earnings taxed at other than the federal rate	7		(2)		(24)
Transition tax	—		—		(2)
Federal research and development credit	(1)		(2)		(4)
Valuation allowance increase (decrease)	1		(57)		26
Change in uncertain tax positions	3		60		44
Stock-based compensation	5		5		8
Nondeductible goodwill	—		18		—
Favorable ruling on foreign withholding tax	(35)		—		—
US tax on foreign earnings	(15)		(4)		(1)
Return to provision adjustment	1		12		(16)
Other, net	2		17		6
Income tax expense	$	176	$	241	$	3

Schedule of Components of income tax expense (benefit)

The components of our income (loss) from continuing operations before income taxes are as follows:

	Year Ended
(In millions)	April 2, 2021		April 3, 2020		March 29, 2019
Domestic	$	607	$	667	$	(179)
International	265		152		72
Income (loss) before income taxes	$	872	$	819	$	(107)

The components of income tax expense (benefit) from continuing operations are as follows:

	Year Ended
(In millions)	April 2, 2021		April 3, 2020		March 29, 2019
Current:
Federal	$	133	$	208	$	58
State	36		33		4
International	(13)		3		(14)
Total	156		244		48
Deferred:
Federal	(6)		(23)		(35)
State	(5)		3		(3)
International	31		17		(7)
Total	20		(3)		(45)
Income tax expense	$	176	$	241	$	3

Schedule of Principal Components of Deferred Tax Assets

The principal components of deferred tax assets and liabilities are as follows:

(In millions)	April 2, 2021		April 3, 2020
Deferred tax assets:
Tax credit carryforwards	$	2	$	6
Net operating loss carryforwards of acquired companies	23		21
Other accruals and reserves not currently tax deductible	54		46
Operating lease liabilities	29		12
Deferred revenue	—		2
Property and equipment	17		10
Intangible assets	103		117
Loss on investments not currently tax deductible	—		1
Stock-based compensation	7		21
Other	36		44
Gross deferred tax assets	271		280
Valuation allowance	(7)		(9)
Deferred tax assets, net of valuation allowance	264		271
Deferred tax liabilities:
Operating lease assets	(25)		(10)
Goodwill	(1)		—
Deferred revenue	(1)		—
Unremitted earnings of foreign subsidiaries	(15)		(17)
Prepaids and deferred expenses	(2)		(2)
Discount on convertible debt	(2)		(4)
Deferred tax liabilities	(46)		(33)
Net deferred tax assets (liabilities)	$	218	$	238

Schedule of Changes in Unrecognized Tax Benefits

The aggregate changes in the balance of gross unrecognized tax benefits were as follows:

	Year Ended
(In millions)	April 2, 2021		April 3, 2020		March 29, 2019
Balance at beginning of year	$	724	$	446	$	378
Settlements with tax authorities	(37)		(5)		(3)
Lapse of statute of limitations	(34)		(15)		(17)
Increase related to prior period tax positions	13		77		16
Decrease related to prior period tax positions	(129)		(11)		(11)
Increase related to current year tax positions	11		232		75
Increase due to acquisition	—		—		8
Balance at end of year	$	548	$	724	$	446