XML 37 R29.htm IDEA: XBRL DOCUMENT v3.23.1

Share-Based Compensation (Tables)

9 Months Ended

Apr. 01, 2023

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Compensation Cost Charged Against Income and Related Tax Benefits for Share-based Compensation Plans

The following table shows the share-based compensation expense and the related tax benefits recognized in the Company's Condensed Consolidated Statements of Operations for the periods indicated:

			Three Months Ended												Nine Months Ended
			April 1, 2023						April 2, 2022						April 1, 2023						April 2, 2022
			(millions)
Share-based compensation expense(1)			$	20.9					$	23.0					$	55.7					$	64.9
Income tax benefit related to share-based compensation expense			3.9						4.4						10.6						12.4

(1)    There was no share-based compensation expense under the Acceleration program during the nine months ended April 1, 2023. During the three and nine months ended April 2, 2022, the company incurred $3.4 million and $11.8 million of share-based compensation expense related to its Acceleration Program.

Summary of Stock Option Activity

A summary of stock option activity during the nine months ended April 1, 2023 is as follows:

			Number of Options Outstanding
			(millions)
Outstanding at July 2, 2022			10.0
Granted			1.1
Exercised			(1.1)
Forfeited or expired			(1.0)
Outstanding at April 1, 2023			9.0

Stock Option Grant Weighted Average Assumptions

The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model and the following weighted-average assumptions:

			April 1, 2023						April 2, 2022
Expected term (years)			4.9						5.0
Expected volatility			48.6		%				46.9		%
Risk-free interest rate			3.3		%				0.8		%
Dividend yield			3.4		%				2.4		%

Service-based Restricted Stock Unit Awards (RSU)

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of RSU Activity

A summary of service-based RSU activity during the nine months ended April 1, 2023 is as follows:

			Number of Non-vested RSUs
			(millions)
Non-vested at July 2, 2022			6.4
Granted			2.4
Vested			(2.3)
Forfeited			(0.4)
Non-vested at April 1, 2023			6.1

Performance-based Restricted Stock Unit Awards (PRSU)

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of RSU Activity

A summary of PRSU activity during the nine months ended April 1, 2023 is as follows:

			Number of Non-vested PRSUs
			(millions)
Non-vested at July 2, 2022			1.2
Granted			0.4
Change due to performance condition achievement			0.8
Vested			(1.7)
Forfeited			—
Non-vested at April 1, 2023			0.7

X

- Definition

Tabular disclosure of allocation of amount expensed and capitalized for award under share-based payment arrangement to statement of income or comprehensive income and statement of financial position. Includes, but is not limited to, corresponding line item in financial statement.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(1)
-URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfEmployeeServiceShareBasedCompensationAllocationOfRecognizedPeriodCostsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the changes in outstanding nonvested restricted stock units.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(2)
-URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfNonvestedRestrictedStockUnitsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)(1)
-URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901

+ Details

Name:	us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

No definition available.

+ Details

Name:	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the weighted-average grant-date fair value of equity options or other equity instruments granted during the year.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (d)(1)
-URI https://asc.fasb.org/extlink&oid=128089324&loc=d3e5070-113901

+ Details

Name:	us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValueTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Details

Name:	us-gaap_AwardTypeAxis=tpr_ServiceBasedRestrictedStockUnitsMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type:

X

- Details

Name:	us-gaap_AwardTypeAxis=us-gaap_PerformanceSharesMember
Namespace Prefix:
Data Type:	na
Balance Type:
Period Type: