Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Cash Flows

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Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Mar. 30, 2024
Apr. 01, 2023
Apr. 02, 2022
OPERATING ACTIVITIES      
Net income (loss) $ (968,882,000) $ 118,584,000 $ 1,386,941,000
Income from discontinued operations, net of tax 0 0 170,672,000
Income (loss) from continuing operations, net of tax (968,882,000) 118,584,000 1,216,269,000
Adjustments to reconcile net income (loss) to cash provided (used) by operating activities:      
Impairment of goodwill and intangible assets 507,566,000 735,009,000 0
Depreciation, amortization and other asset write-downs 319,204,000 262,324,000 266,935,000
Reduction in the carrying amount of right-of-use assets 394,426,000 383,199,000 410,132,000
Stock-based compensation 67,332,000 60,354,000 91,358,000
Provision for doubtful accounts 11,170,000 3,532,000 (716,000)
Pension expense in excess of (less than) contributions (18,080,000) 79,197,000 (41,309,000)
Deferred income taxes (395,100,000) (53,554,000) (157,489,000)
Write-off of income tax receivables and interest 921,409,000 0 0
Loss on extinguishment of debt 0 0 3,645,000
Other, net 7,359,000 (11,433,000) (12,007,000)
Changes in operating assets and liabilities:      
Accounts receivable 324,629,000 (147,331,000) (202,526,000)
Inventories 508,584,000 (890,173,000) (380,851,000)
Accounts payable (106,048,000) 377,433,000 105,357,000
Income taxes (154,606,000) (1,148,610,000) 201,391,000
Accrued liabilities 32,952,000 (91,650,000) 88,213,000
Operating lease right-of-use assets and liabilities (390,227,000) (379,963,000) (444,125,000)
Other assets and liabilities (47,107,000) 47,287,000 (286,079,000)
Cash provided (used) by operating activities - continuing operations 1,014,581,000 (655,795,000) 858,198,000
Cash provided by operating activities - discontinued operations 0 0 6,090,000
Cash provided (used) by operating activities 1,014,581,000 (655,795,000) 864,288,000
INVESTING ACTIVITIES      
Business acquisitions, net of cash received 0 0 3,760,000
Proceeds from sale of businesses, net of cash sold 0 0 616,928,000
Proceeds from sale of assets 26,615,000 99,499,000 32,542,000
Proceeds from sale of short-term investments 0 0 598,806,000
Capital expenditures (145,818,000) (165,925,000) (245,449,000)
Software purchases (65,167,000) (95,326,000) (82,871,000)
Other, net 12,112,000 (26,301,000) (19,456,000)
Cash provided (used) by investing activities - continuing operations (172,258,000) (188,053,000) 904,260,000
Cash used by investing activities - discontinued operations 0 0 (525,000)
Cash provided (used) by investing activities (172,258,000) (188,053,000) 903,735,000
FINANCING ACTIVITIES      
Contingent consideration payment 0 (56,976,000) 0
Net increase (decrease) in short-term borrowings 255,146,000 (323,972,000) 324,404,000
Payments on long-term debt (908,199,000) (501,051,000) (504,200,000)
Payment of debt issuance costs (576,000) (6,796,000) (2,496,000)
Proceeds from long-term debt 0 2,058,341,000 0
Share repurchases 0 0 (350,004,000)
Cash dividends paid (303,140,000) (702,846,000) (773,205,000)
Proceeds from issuance of Common Stock, net of (payments) for tax withholdings (2,846,000) (2,794,000) 36,654,000
Cash provided (used) by financing activities (959,615,000) 463,906,000 (1,268,847,000)
Effect of foreign currency rate changes on cash, cash equivalents and restricted cash (22,069,000) (80,822,000) (73,299,000)
Net change in cash, cash equivalents and restricted cash (139,361,000) (460,764,000) 425,877,000
Cash, cash equivalents and restricted cash — beginning of period 816,318,000 1,277,082,000 851,205,000
Cash, cash equivalents and restricted cash — end of period $ 676,957,000 $ 816,318,000 $ 1,277,082,000