FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Jul. 02, 2021

Derivative Instruments and Hedges, Assets [Abstract]

Summary of aggregate notional amount of the Company's outstanding foreign currency forward and swap contracts

As of July 2, 2021, the aggregate notional amount of the Company’s outstanding foreign currency derivative contracts was $9.1 billion as summarized below: 

	Foreign Currency Amount		Notional Contract Value in USD
Currency	Buy	Sell	Buy		Sell
	(In millions)
Cash Flow Hedges
CNY	3,886	—	$	601	$	—
EUR	34	60	41		71
HUF	36,601	—	124		—
JPY	33,525	—	300		—
MXN	6,191	—	311		—
MYR	428	102	103		24
Other	N/A	N/A	176		37
			1,656		132
Other Foreign Currency Contracts
BRL	16	496	3		99
CAD	110	65	89		52
CNY	4,236	706	655		109
EUR	1,675	1,812	1,989		2,158
GBP	55	77	76		106
HUF	59,137	54,761	200		185
ILS	473	—	145		—
MXN	6,470	5,032	325		253
MYR	738	277	177		66
SEK	497	584	59		68
SGD	91	49	68		37
Other	N/A	N/A	233		111
			4,019		3,244
Total Notional Contract Value in USD			$	5,675	$	3,376

Schedule of fair value of the derivative instruments utilized for foreign currency risk management purposes

The following table presents the fair value of the Company’s derivative instruments utilized for foreign currency risk management purposes:

	Fair Values of Derivative Instruments
	Asset Derivatives					Liability Derivatives
		Fair Value					Fair Value
	Balance Sheet Location	July 2, 2021		March 31, 2021		Balance Sheet Location	July 2, 2021		March 31, 2021
	(In millions)
Derivatives designated as hedging instruments
Foreign currency contracts	Other current assets	$	23	$	23	Other current liabilities	$	12	$	16
Foreign currency contracts	Other assets	$	1	$	5	Other liabilities	$	—	$	—
Derivatives not designated as hedging instruments
Foreign currency contracts	Other current assets	$	28	$	31	Other current liabilities	$	30	$	32