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Segment Information (Tables)

9 Months Ended

Apr. 01, 2023

Segment Reporting [Abstract]

Summary of Segment Performance

The following table summarizes net sales of each of the company's segments for the three and nine months ended April 1, 2023 and April 2, 2022:

			Three Months Ended												Nine Months Ended
			April 1, 2023						April 2, 2022						April 1, 2023						April 2, 2022
Segment net sales:
Coach			$	1,144.0					$	1,072.4					$	3,713.0					$	3,712.3
Kate Spade			297.2						301.5						1,109.4						1,101.4
Stuart Weitzman			68.3						63.6						219.0						245.9
Total Net sales:			$	1,509.5					$	1,437.5					$	5,041.4					$	5,059.6

The following table summarizes segment operating profit of each of the company's segments and reconciliation to Income (loss) before provision for income taxes for the three and nine months ended April 1, 2023 and April 2, 2022:

			Three Months Ended												Nine Months Ended
			April 1, 2023						April 2, 2022						April 1, 2023						April 2, 2022
Segment operating profit:
Coach			$	342.2					$	285.5					$	1,134.6					$	1,124.5
Kate Spade			8.0						10.3						100.2						131.2
Stuart Weitzman			0.8						(6.3)						(3.6)						5.5
Total segment operating profit:			$	351.0					$	289.5					$	1,231.2					$	1,261.2
Unallocated corporate expenses(1)			124.7						120.0						332.4						333.9
Loss on extinguishment of debt			—						—						—						53.7
Unallocated other charges, net(2)			3.1						17.8						22.5						55.1
Income (loss) before provision for income taxes			$	223.2					$	151.7					$	876.3					$	818.5

The following table summarizes depreciation and amortization expense of each of the company's segments for the three and nine months ended April 1, 2023 and April 2, 2022:

			Three Months Ended												Nine Months Ended
			April 1, 2023						April 2, 2022						April 1, 2023						April 2, 2022
Depreciation and amortization expense(3):
Coach			$	21.0					$	19.2					$	68.0					$	59.3
Kate Spade			10.0						9.7						32.3						30.7
Stuart Weitzman			2.7						2.1						7.8						6.4
Unallocated corporate(1)			8.2						17.5						22.4						51.7
Total Depreciation and amortization expense:			$	41.9					$	48.5					$	130.5					$	148.1

(1)    Corporate, which is not a reportable segment, represents certain costs that are not directly attributable to a segment. These costs primarily include administration and certain costs for information systems.

(2)    Includes Interest expense, net and Other expense (income).

(3)    Depreciation and amortization expense for the segments includes an allocation of expense related to assets which support multiple segments.

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- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 25
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8813-108599

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8906-108599

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- References

No definition available.

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