Leases (Tables)

12 Months Ended

Mar. 28, 2026

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 leases	176.8		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 portion	1,325.8		1,044.7		Long-term operating lease liabilities
Total operating lease liabilities	1,537.5		1,270.1
Finance leases:
Current portion	20.7		20.6		Accrued expenses and other current liabilities
Non-current portion	212.3		234.8		Long-term finance lease liabilities
Total finance lease liabilities	233.0		255.4
Total lease liabilities	$	1,770.5	$	1,525.5

Lease Cost

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 assets	23.9		23.1		24.0		(b)
Accretion of lease liabilities	7.0		7.7		9.1		Interest expense
Variable lease cost	438.7		371.4		340.7		(c)
Short-term lease cost	1.3		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.

Cash paid for amounts included in the measurement of lease liabilities

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 leases	7.1		7.7		9.1
Financing cash flows from finance leases	23.2		22.0		21.3

Lease Liability Maturity

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 2028	276.2		29.1
Fiscal 2029	247.5		22.4
Fiscal 2030	198.8		22.5
Fiscal 2031	160.3		22.8
Fiscal 2032 and thereafter	678.7		144.7
Total lease payments	1,827.7		269.0
Less: interest	(290.2)		(36.0)
Total lease liabilities	$	1,537.5	$	233.0

Supplemental lease information

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, 2026				March 29, 2025
	Operating Leases		Finance Leases		Operating Leases		Finance Leases
Weighted-average remaining lease term (years)	7.8		10.4		7.7		11.1
Weighted-average discount rate	3.9	%	2.8	%	3.6	%	2.8	%