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FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES (Tables)
6 Months Ended
Oct. 01, 2021
Fair Value Disclosures [Abstract]  
Schedule of financial assets and liabilities measured at fair value on a recurring basis
The following table presents the Company’s assets and liabilities measured at fair value on a recurring basis as of October 1, 2021 and March 31, 2021: 
 Fair Value Measurements as of October 1, 2021
 Level 1Level 2Level 3Total
 (In millions)
Assets:    
Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet)$— $1,855 $— $1,855 
Foreign currency contracts (Note 7)— 37 — 37 
Deferred compensation plan assets:   0
Mutual funds, money market accounts and equity securities— 42 — 42 
Liabilities:   
Foreign currency contracts (Note 7)$— $(46)$— $(46)
 Fair Value Measurements as of March 31, 2021
 Level 1Level 2Level 3Total
 (In millions)
Assets:    
Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet)$— $1,507 $— $1,507 
Foreign currency contracts (Note 7)— 59 — 59 
Deferred compensation plan assets:   0
Mutual funds, money market accounts and equity securities— 48 — 48 
Liabilities:   0
Foreign currency contracts (Note 7)$— $(48)$— $(48)
Schedule of debt not carried at fair value
The following table presents the Company’s major debts not carried at fair value: 
 As of October 1, 2021As of March 31, 2021
 Carrying
Amount
Fair
Value
Carrying
Amount
Fair
Value
Fair Value
Hierarchy
 (In millions)
5.000% Notes due February 2023
$500 $529 $500 $537 Level 1
Term Loan due April 2024 - three-month Yen LIBOR plus 0.500%
300 300 305 305 Level 2
4.750% Notes due June 2025
598 665 598 670 Level 1
3.750% Notes due February 2026
692 753 694 756 Level 1
4.875% Notes due June 2029
660 762 661 756 Level 1
4.875% Notes due May 2030
692 801 694 800 Level 1
Euro Term Loans166 166 168 168 Level 2
India Facilities126 126 133 133 Level 2