Fair Value Measurements (Tables)

12 Months Ended

Mar. 28, 2026

Schedule of Fair Value Measured and Recorded on a Recurring Basis

All derivative contracts are measured and recorded at fair value on a recurring basis and are categorized in Level 2 of the fair value hierarchy, as shown in the following table (in millions):


	Fair value at March 28, 2026, using:						Fair value at March 29, 2025, using:
	Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Derivative assets:
Forward foreign currency exchange contracts	$	—	$	2	$	—	$	—	$	2	$	—



Total derivative assets	$	—	$	2	$	—	$	—	$	2	$	—

Derivative liabilities:
Forward foreign currency exchange contracts	$	—	$	—	$	—	$	—	$	2	$	—
Net investment hedges	—		840		—		—		289		—

Total derivative liabilities	$	—	$	840	$	—	$	—	$	291	$	—

Schedule of Carrying Values and Estimated Fair Values of Debt, Based on Level 2 Measurements

The following table summarizes the carrying values and estimated fair values of the Company’s debt, based on Level 2 measurements (in millions):


	March 28, 2026				March 29, 2025
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Revolving Credit Facility	$	340	$	340	$	755	$	755
2025 Term Loans	$	—	$	—	$	706	$	699

Schedule of Carrying Values and Fair Values of Assets Impaired

The following table details the carrying values and fair values of the Company’s assets that have been impaired (in millions):


	Carrying Value Prior to Impairment		Fair Value		Impairment Charge (1)
Fiscal 2026:


Operating Lease Right-of-Use Assets	$	69	$	38	$	31
Property and Equipment	13		4		9

Total	$	82	$	42	$	40

Fiscal 2025:
Brands	$	213	$	198	$	15
Goodwill	159		93		66
Operating Lease Right-of-Use Assets	89		40		49
Property and Equipment	17		5		12
Total	$	478	$	336	$	142

Fiscal 2024:
Goodwill	$	549	$	357	$	192
Brands	285		215		70
Operating Lease Right-of-Use Assets	52		24		28
Property and Equipment	5		1		4
Total	$	891	$	597	$	294

(1)Includes $2 million of impairment charges that were recorded within restructuring and other charges related to the Company’s Global Optimization Plan during Fiscal 2024.