CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions |
12 Months Ended |
Mar. 28, 2020 |
Mar. 30, 2019 |
Mar. 31, 2018 |
| Cash flows from operating activities |
|
|
|
| Net (loss) income |
$ (225)
|
$ 542
|
$ 592
|
| Adjustments to reconcile net (loss) income to net cash provided by operating activities: |
|
|
|
| Depreciation and amortization |
249
|
225
|
208
|
| Equity compensation expense |
70
|
60
|
50
|
| Impairment of assets |
708
|
21
|
33
|
| Bad debt expense |
29
|
4
|
8
|
| Losses on store lease exits |
0
|
18
|
29
|
| Deferred income taxes |
(73)
|
(71)
|
9
|
| Changes to lease related balances, net |
(55)
|
|
|
| Amortization of deferred financing costs |
8
|
4
|
4
|
| Tax deficit (benefit) on exercise of share options |
2
|
(24)
|
(7)
|
| Foreign currency losses (gains) |
11
|
80
|
(13)
|
| Other non-cash charges |
3
|
0
|
0
|
| Change in assets and liabilities: |
|
|
|
| Receivables, net |
42
|
(23)
|
11
|
| Inventories, net |
115
|
(125)
|
46
|
| Prepaid expenses and other current assets |
20
|
(31)
|
49
|
| Accounts payable |
63
|
(48)
|
(21)
|
| Accrued expenses and other current liabilities |
(95)
|
20
|
56
|
| Other long-term assets and liabilities |
(13)
|
42
|
8
|
| Net cash provided by operating activities |
859
|
694
|
1,062
|
| Cash flows from investing activities |
|
|
|
| Capital expenditures |
(223)
|
(181)
|
(120)
|
| Purchase of intangible assets |
0
|
(3)
|
(3)
|
| Cash paid for business acquisitions, net of cash acquired |
(13)
|
(1,875)
|
(1,415)
|
| Realized (loss) gain on hedge related to acquisitions |
0
|
(77)
|
5
|
| Settlement of a net investment hedge |
298
|
11
|
0
|
| Net cash provided by (used in) investing activities |
62
|
(2,125)
|
(1,533)
|
| Cash flows from financing activities |
|
|
|
| Debt borrowings |
2,282
|
4,204
|
2,520
|
| Debt repayments |
(2,676)
|
(2,560)
|
(1,784)
|
| Debt issuance costs |
(1)
|
(15)
|
0
|
| Purchase of treasury shares |
(102)
|
(207)
|
(361)
|
| Exercise of employee share options |
0
|
29
|
14
|
| Net cash (used in) provided by financing activities |
(497)
|
1,451
|
389
|
| Effect of exchange rate changes on cash and cash equivalents |
(4)
|
(11)
|
15
|
| Net increase (decrease) in cash and cash equivalents |
420
|
9
|
(67)
|
| Beginning of period |
172
|
163
|
230
|
| End of period |
592
|
172
|
163
|
| Supplemental disclosures of cash flow information |
|
|
|
| Cash paid for interest |
80
|
45
|
11
|
| Cash paid for income taxes |
98
|
172
|
104
|
| Supplemental disclosure of non-cash investing and financing activities |
|
|
|
| Accrued capital expenditures |
$ 30
|
$ 25
|
$ 26
|