Leases

12 Months Ended

Mar. 31, 2023

Leases [Abstract]

Leases

LeasesWe lease certain of our facilities, equipment, and data center co-locations under operating leases that expire on various dates through fiscal 2028. Our leases generally have terms that range from 1 year to 8 years for our facilities, 1 year to 3 years for equipment and 1 year to 5 years for data center co-locations. Some of our leases contain renewal options, escalation clauses, rent concessions and leasehold improvement incentives.

The following summarizes our lease costs for fiscal 2023, 2022 and 2021:

	Year Ended
(In millions)	March 31, 2023		April 1, 2022		April 2, 2021
Operating lease costs	$	16	$	16	$	17
Short-term lease costs	2		2		4
Variable lease costs	8		6		6
Total lease costs	$	26	$	24	$	27

Other information related to our operating leases for fiscal 2023, 2022 and 2021 was as follows:

	Year Ended
	March 31, 2023		April 1, 2022		April 2, 2021
Weighted-average remaining lease term	2.8 years		4.7 years		4.4 years
Weighted-average discount rate	4.38	%	4.04	%	4.07	%

See Note 7 for cash flow information related to our operating leases.

As of March 31, 2023, the maturities of our lease liabilities by fiscal year are as follows:

(In millions)
2024	$	28
2025	17
2026	9
2027	6
2028	1
Total lease payments	61
Less: Imputed interest	(4)
Present value of lease liabilities	$	57