SUPPLY CHAIN FINANCING PROGRAM |
3 Months Ended |
|---|---|
Jun. 29, 2024 | |
| Receivables [Abstract] | Ìý |
| SUPPLY CHAIN FINANCING PROGRAM | SUPPLY CHAIN FINANCING PROGRAM ±«ÓãÖ±²¥ facilitates a voluntary supply chain finance ("SCF") program that enables a significant portion of our inventory suppliers to leverage ±«ÓãÖ±²¥'s credit rating to receive payment from participating financial institutions prior to the payment date specified in the terms between ±«ÓãÖ±²¥ and the supplier. The SCF program is administered through third-party platforms that allow participating suppliers to track payments from ±«ÓãÖ±²¥ and elect which receivables, if any, to sell to the financial institutions. The transactions are at the sole discretion of both the suppliers and financial institutions, and ±«ÓãÖ±²¥ is not a party to the agreements and has no economic interest in the supplier's decision to sell a receivable. The terms between ±«ÓãÖ±²¥ and the supplier, including the amount due and scheduled payment terms (which are generally within 90 days of the invoice date), are not impacted by a supplier's participation in the SCF program. All amounts due to suppliers that are eligible to participate in the SCF program are included in the accounts payable line item in ±«ÓãÖ±²¥'s Consolidated Balance Sheets and ±«ÓãÖ±²¥ payments made under the SCF program are reflected in cash flows from operating activities in ±«ÓãÖ±²¥'s Consolidated Statements of Cash Flows. At June 2024, March 2024 and June 2023, the accounts payable line item in ±«ÓãÖ±²¥â€™s Consolidated Balance Sheets included total outstanding obligations of $843.0Ìýmillion, $485.0Ìýmillion and $931.0Ìýmillion, respectively, due to suppliers that are eligible to participate in the SCF program. |