FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Jul. 01, 2022

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 1, 2022, the aggregate notional amount of the Company’s outstanding foreign currency derivative contracts was $11.8 billion as summarized below: 

	Foreign Currency Amount		Notional Contract Value in USD
Currency	Buy	Sell	Buy		Sell
	(In millions)
Cash Flow Hedges
CNY	3,038	—	$	454	$	—
HUF	138,710	—	415		—
ILS	352	—	102		—
JPY	33,525	—	300		—
MXN	6,829	—	339		—
MYR	540	94	123		21
Other	N/A	N/A	176		120
			1,909		141
Other Foreign Currency Contracts
BRL	9	867	2		166
CAD	115	68	89		53
CNY	4,598	688	688		102
EUR	3,003	2,838	3,165		2,984
GBP	165	201	201		244
HUF	78,890	67,113	209		178
ILS	376	166	109		48
INR	10,003	—	126		—
MXN	8,137	5,983	404		297
MYR	1,003	343	228		78
SGD	102	55	73		39
Other	N/A	N/A	149		146
			5,443		4,335
Total Notional Contract Value in USD			$	7,352	$	4,476

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 1, 2022		March 31, 2022		Balance Sheet Location	July 1, 2022		March 31, 2022
	(In millions)
Derivatives designated as hedging instruments
Foreign currency contracts	Other current assets	$	18	$	22	Other current liabilities	$	49	$	35
Foreign currency contracts	Other assets	$	—	$	—	Other liabilities	$	116	$	61
Derivatives not designated as hedging instruments
Foreign currency contracts	Other current assets	$	26	$	21	Other current liabilities	$	41	$	26