v3.26.1
Leases
 12 Months Ended
Mar. 28, 2026
Lessee Disclosure [Abstract]  
Leases, Operating Leases
The following table summarizes ROU assets and lease liabilities recorded on the consolidated balance sheets:
March 28,
2026		March 29,
2025		Location Recorded on Balance Sheet
(millions)
Assets:
Operating leases$1,299.6 $1,013.1 Operating lease right-of-use assets
Finance leases176.8 198.3 Property and equipment, net
Total lease assets$1,476.4 $1,211.4 
Liabilities:
Operating leases:
Current portion$211.7 $225.4 Current operating lease liabilities
Non-current portion1,325.8 1,044.7 
Long-term operating lease liabilities
Total operating lease liabilities1,537.5 1,270.1 
Finance leases:
Current portion20.7 20.6 Accrued expenses and other current liabilities
Non-current portion212.3 234.8 Long-term finance lease liabilities
Total finance lease liabilities233.0 255.4 
Total lease liabilities$1,770.5 $1,525.5 
The following table summarizes the composition of total lease cost during the fiscal years presented:
Fiscal Years Ended
March 28,
2026		March 29,
2025		March 30,
2024		Location Recorded in Earnings
(millions)
Operating lease cost$305.5 $292.5 $295.0 
(a)
Finance lease costs:
Depreciation of leased assets23.9 23.1 24.0 
(b)
Accretion of lease liabilities7.0 7.7 9.1 Interest expense
Variable lease cost438.7 371.4 340.7 
(c)
Short-term lease cost1.3 1.8 2.6 SG&A expenses
Sublease income(9.9)(7.4)(6.5)Restructuring and other charges, net
Total lease cost$766.5 $689.1 $664.9 
 
(a)During Fiscal 2026, $4.3 million was included within cost of goods sold, $292.3 million was included within SG&A expenses, and $8.9 million was included within restructuring and other charges, net. During Fiscal 2025, $3.4 million was included within cost of goods sold, $279.2 million was included within SG&A expenses, and $9.9 million was included within restructuring and other charges, net. During Fiscal 2024, $3.1 million was included within cost of goods sold, $278.1 million was included within SG&A expenses, and $13.8 million was included within restructuring and other charges, net.
(b)During Fiscal 2026, $20.7 million was included within SG&A expenses and $3.2 million was included within restructuring and other charges, net. During Fiscal 2025, $20.2 million was included within SG&A expenses and $2.9 million was included within restructuring and other charges, net. During Fiscal 2024, $20.9 million was included within SG&A expenses and $3.1 million was included within restructuring and other charges, net.
(c)During Fiscal 2026, $4.6 million was included within cost of goods sold, $428.0 million was included within SG&A expenses, and $6.1 million was included within restructuring and other charges, net. During Fiscal 2025, $4.7 million was included within cost of goods sold, $360.6 million was included within SG&A expenses, and $6.1
million was included within restructuring and other charges, net. During Fiscal 2024, $4.7 million was included within cost of goods sold, $332.7 million was included within SG&A expenses, and $3.3 million was included within restructuring and other charges, net.
The following table summarizes certain cash flow information related to the Company's leases:
Fiscal Years Ended
March 28,
2026		March 29,
2025		March 30,
2024
(millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$344.5 $355.1 $368.3 
Operating cash flows from finance leases7.1 7.7 9.1 
Financing cash flows from finance leases23.2 22.0 21.3 
See Note 20 for supplemental non-cash information related to ROU assets recorded in connection with the recognition of new lease liabilities.
The following table presents a maturity analysis summary of contractual cash payments for the Company's lease liabilities recorded on the consolidated balance sheet as of March 28, 2026:
March 28, 2026
Operating
Leases		Finance
Leases
(millions)
Fiscal 2027$266.2 $27.5 
Fiscal 2028276.2 29.1 
Fiscal 2029247.5 22.4 
Fiscal 2030198.8 22.5 
Fiscal 2031160.3 22.8 
Fiscal 2032 and thereafter678.7 144.7 
Total lease payments1,827.7 269.0 
Less: interest(290.2)(36.0)
Total lease liabilities$1,537.5 $233.0 
Additionally, the Company has $147.5 million of future payment obligations relating to executed lease agreements for which the related lease terms had not yet commenced as of the end of Fiscal 2026 and, therefore, are not recorded on the consolidated balance sheet as of March 28, 2026.
The following table summarizes the weighted-average remaining lease terms and weighted-average discount rates related to the Company's operating and finance leases recorded on the consolidated balance sheets:
March 28, 2026March 29, 2025
Operating
Leases		Finance
Leases		Operating
Leases		Finance
Leases
Weighted-average remaining lease term (years)7.810.47.711.1
Weighted-average discount rate3.9%2.8%3.6%2.8%
See Note 3 for discussion of the Company's accounting policies related to leases.
Leases, Finance Leases
The following table summarizes ROU assets and lease liabilities recorded on the consolidated balance sheets:
March 28,
2026		March 29,
2025		Location Recorded on Balance Sheet
(millions)
Assets:
Operating leases$1,299.6 $1,013.1 Operating lease right-of-use assets
Finance leases176.8 198.3 Property and equipment, net
Total lease assets$1,476.4 $1,211.4 
Liabilities:
Operating leases:
Current portion$211.7 $225.4 Current operating lease liabilities
Non-current portion1,325.8 1,044.7 
Long-term operating lease liabilities
Total operating lease liabilities1,537.5 1,270.1 
Finance leases:
Current portion20.7 20.6 Accrued expenses and other current liabilities
Non-current portion212.3 234.8 Long-term finance lease liabilities
Total finance lease liabilities233.0 255.4 
Total lease liabilities$1,770.5 $1,525.5 
The following table summarizes the composition of total lease cost during the fiscal years presented:
Fiscal Years Ended
March 28,
2026		March 29,
2025		March 30,
2024		Location Recorded in Earnings
(millions)
Operating lease cost$305.5 $292.5 $295.0 
(a)
Finance lease costs:
Depreciation of leased assets23.9 23.1 24.0 
(b)
Accretion of lease liabilities7.0 7.7 9.1 Interest expense
Variable lease cost438.7 371.4 340.7 
(c)
Short-term lease cost1.3 1.8 2.6 SG&A expenses
Sublease income(9.9)(7.4)(6.5)Restructuring and other charges, net
Total lease cost$766.5 $689.1 $664.9 
 
(a)During Fiscal 2026, $4.3 million was included within cost of goods sold, $292.3 million was included within SG&A expenses, and $8.9 million was included within restructuring and other charges, net. During Fiscal 2025, $3.4 million was included within cost of goods sold, $279.2 million was included within SG&A expenses, and $9.9 million was included within restructuring and other charges, net. During Fiscal 2024, $3.1 million was included within cost of goods sold, $278.1 million was included within SG&A expenses, and $13.8 million was included within restructuring and other charges, net.
(b)During Fiscal 2026, $20.7 million was included within SG&A expenses and $3.2 million was included within restructuring and other charges, net. During Fiscal 2025, $20.2 million was included within SG&A expenses and $2.9 million was included within restructuring and other charges, net. During Fiscal 2024, $20.9 million was included within SG&A expenses and $3.1 million was included within restructuring and other charges, net.
(c)During Fiscal 2026, $4.6 million was included within cost of goods sold, $428.0 million was included within SG&A expenses, and $6.1 million was included within restructuring and other charges, net. During Fiscal 2025, $4.7 million was included within cost of goods sold, $360.6 million was included within SG&A expenses, and $6.1
million was included within restructuring and other charges, net. During Fiscal 2024, $4.7 million was included within cost of goods sold, $332.7 million was included within SG&A expenses, and $3.3 million was included within restructuring and other charges, net.
The following table summarizes certain cash flow information related to the Company's leases:
Fiscal Years Ended
March 28,
2026		March 29,
2025		March 30,
2024
(millions)
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases$344.5 $355.1 $368.3 
Operating cash flows from finance leases7.1 7.7 9.1 
Financing cash flows from finance leases23.2 22.0 21.3 
See Note 20 for supplemental non-cash information related to ROU assets recorded in connection with the recognition of new lease liabilities.
The following table presents a maturity analysis summary of contractual cash payments for the Company's lease liabilities recorded on the consolidated balance sheet as of March 28, 2026:
March 28, 2026
Operating
Leases		Finance
Leases
(millions)
Fiscal 2027$266.2 $27.5 
Fiscal 2028276.2 29.1 
Fiscal 2029247.5 22.4 
Fiscal 2030198.8 22.5 
Fiscal 2031160.3 22.8 
Fiscal 2032 and thereafter678.7 144.7 
Total lease payments1,827.7 269.0 
Less: interest(290.2)(36.0)
Total lease liabilities$1,537.5 $233.0 
Additionally, the Company has $147.5 million of future payment obligations relating to executed lease agreements for which the related lease terms had not yet commenced as of the end of Fiscal 2026 and, therefore, are not recorded on the consolidated balance sheet as of March 28, 2026.
The following table summarizes the weighted-average remaining lease terms and weighted-average discount rates related to the Company's operating and finance leases recorded on the consolidated balance sheets:
March 28, 2026March 29, 2025
Operating
Leases		Finance
Leases		Operating
Leases		Finance
Leases
Weighted-average remaining lease term (years)7.810.47.711.1
Weighted-average discount rate3.9%2.8%3.6%2.8%
See Note 3 for discussion of the Company's accounting policies related to leases.