XML 46 R29.htm IDEA: XBRL DOCUMENT
v3.4.0.3

Segment Information | 12 Months Ended
--- | ---
Apr. 02, 2016
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company has three reportable segments based on its business activities and organization: Wholesale, Retail, and Licensing. These segments offer a variety of products through different channels of distribution. The Wholesale segment consists of apparel, accessories, home furnishings, and related products which are sold to major department stores, specialty stores, golf and pro shops, and the Company's licensed and franchised retail stores in the U.S. and overseas. The Retail segment consists of the Company's integrated worldwide retail operations, which sell products through its retail stores, concession-based shop-within-shops, and e-commerce sites, which are purchased from the Company's licensees and suppliers. The Licensing segment generates revenues from royalties earned on the sale of the Company's apparel, home, and other products internationally and domestically through licensing alliances. The licensing agreements grant the licensees rights to use the Company's various trademarks in connection with the manufacture and sale of designated products in specified geographical areas for specified periods. The accounting policies of the Company's segments are consistent with those described in Notes 2 and 3. Sales and transfers between segments are generally recorded at cost and treated as transfers of inventory. All intercompany revenues, including such sales between segments, are eliminated in consolidation and are not reviewed when evaluating segment performance. Each segment's performance is evaluated based upon operating income before restructuring charges and certain other one-time items, such as legal charges, if any. Certain corporate overhead expenses related to global functions, most notably the Company's executive office, information technology, finance and accounting, human resources, and legal departments, largely remain at corporate. Additionally, other costs that cannot be allocated to the segments based on specific usage are also maintained at corporate, including corporate advertising and marketing expenses, depreciation and amortization of corporate assets, and other general and administrative expenses resulting from corporate-level activities and projects. Net revenues for each of the Company's reportable segments are as follows:
|  | Fiscal Years Ended
|  | April 2, 2016 |  | March 28, 2015 |  | March 29, 2014
|  | (millions)
Net revenues: |  |  |  |  |  |
Wholesale |  | $ | 3,297 |  |  | $ | 3,495 |  |  | $ | 3,486 |
Retail |  | 3,933 |  |  | 3,956 |  |  | 3,798 |
Licensing |  | 175 |  |  | 169 |  |  | 166 |
Total net revenues(a) |  | $ | 7,405 |  |  | $ | 7,620 |  |  | $ | 7,450 |
(a) | The Company's sales to its largest wholesale customer, Macy's, accounted for approximately 11% of its total net revenues in Fiscal 2016 and approximately 12% of its total net revenues in each of Fiscal 2015 and Fiscal 2014.
Operating income for each of the Company's reportable segments is as follows:
|  | Fiscal Years Ended
|  | April 2, 2016 |  | March 28, 2015 |  | March 29, 2014
|  | (millions)
Operating income: |  |  |  |  |  |
Wholesale(a) |  | $ | 822 |  |  | $ | 943 |  |  | $ | 963 |
Retail(b) |  | 359 |  |  | 527 |  |  | 572 |
Licensing |  | 155 |  |  | 152 |  |  | 150 |
|  | 1,336 |  |  | 1,622 |  |  | 1,685 |
Unallocated corporate expenses |  | (611 | ) |  | (577 | ) |  | (553 | )
Gain on acquisition of Chaps(c) |  | — |  |  | — |  |  | 16 |
Unallocated restructuring and other charges(d) |  | (143 | ) |  | (10 | ) |  | (18 | )
Total operating income |  | $ | 582 |  |  | $ | 1,035 |  |  | $ | 1,130 |
(a) | During Fiscal 2016, the Company recorded non-cash impairment charges of $6 million, primarily to write off certain fixed assets related to its shop-within-shops in connection with the Global Reorganization Plan. During Fiscal 2014, the Company recorded non-cash impairment charges of $1 million, primarily to write off certain fixed assets related to its European wholesale operations. See Notes 10 and 11 for additional information.
(b) | During Fiscal 2016, the Company recorded non-cash impairment charges of $43 million, primarily to write off certain fixed assets related to its stores and concession-based shop-within-shops in connection with the Global Reorganization Plan. During Fiscal 2015, the Company recorded non-cash impairment charges of $7 million, primarily to write off certain fixed assets related to its domestic and international retail stores. See Notes 10 and 11 for additional information.
(c) | See Note 5 for a description of the gain on acquisition of Chaps recorded during Fiscal 2014.
(d) | The fiscal years presented included certain unallocated restructuring and other charges (see Note 11), which are detailed below:
|  |  | Fiscal Years Ended
|  |  | April 2, 2016 |  | March 28, 2015 |  | March 29, 2014
|  |  | (millions)
| Restructuring and other charges: |  |  |  |  |  |
| Restructuring charges: |  |  |  |  |  |
| Wholesale-related |  | $ | (13 | ) |  | $ | (4 | ) |  | $ | — |
| Retail-related |  | (27 | ) |  | (4 | ) |  | — |
| Licensing-related |  | (1 | ) |  | — |  |  | — |
| Corporate operations-related |  | (54 | ) |  | (2 | ) |  | (8 | )
| Unallocated restructuring charges |  | (95 | ) |  | (10 | ) |  | (8 | )
| Other charges (see Note 11) |  | (48 | ) |  | — |  |  | (10 | )
| Total unallocated restructuring and other charges |  | $ | (143 | ) |  | $ | (10 | ) |  | $ | (18 | )
The following tables summarize the Company's depreciation and amortization expense and capital expenditures for each of its reportable segments:
|  | Fiscal Years Ended
|  | April 2, 2016 |  | March 28, 2015 |  | March 29, 2014
|  | (millions)
Depreciation and amortization: |  |  |  |  |  |
Wholesale |  | $ | 61 |  |  | $ | 66 |  |  | $ | 66 |
Retail |  | 157 |  |  | 154 |  |  | 125 |
Licensing |  | 1 |  |  | — |  |  | — |
Unallocated corporate |  | 91 |  |  | 74 |  |  | 67 |
Total depreciation and amortization |  | $ | 310 |  |  | $ | 294 |  |  | $ | 258 |
|  | Fiscal Years Ended
|  | April 2, 2016 |  | March 28, 2015 |  | March 29, 2014
|  | (millions)
Capital expenditures: |  |  |  |  |  |
Wholesale |  | $ | 43 |  |  | $ | 48 |  |  | $ | 53 |
Retail |  | 173 |  |  | 237 |  |  | 252 |
Licensing |  | 4 |  |  | 4 |  |  | 1 |
Unallocated corporate |  | 198 |  |  | 102 |  |  | 84 |
Total capital expenditures |  | $ | 418 |  |  | $ | 391 |  |  | $ | 390 |
The following table summarizes total assets for each of the Company's reportable segments:
|  | April 2, 2016 |  | March 28, 2015
|  | (millions)
Total assets: |  |  |  |
Wholesale |  | $ | 2,569 |  |  | $ | 2,643 |
Retail |  | 2,540 |  |  | 2,395 |
Licensing |  | 188 |  |  | 197 |
Corporate |  | 916 |  |  | 871 |
Total assets |  | $ | 6,213 |  |  | $ | 6,106 |
Net revenues and long-lived assets by geographic location of the reporting subsidiary are as follows:
|  | Fiscal Years Ended
|  | April 2, 2016 |  | March 28, 2015 |  | March 29, 2014
|  | (millions)
Net revenues(a): |  |  |  |  |  |
The Americas(b) |  | $ | 4,938 |  |  | $ | 5,077 |  |  | $ | 4,983 |
Europe(c) |  | 1,573 |  |  | 1,627 |  |  | 1,580 |
Asia(d) |  | 894 |  |  | 916 |  |  | 887 |
Total net revenues |  | $ | 7,405 |  |  | $ | 7,620 |  |  | $ | 7,450 |
|  | April 2, 2016 |  | March 28, 2015
|  | (millions)
Long-lived assets(a): |  |  |  |
The Americas(b) |  | $ | 1,206 |  |  | $ | 1,106 |
Europe(c) |  | 212 |  |  | 148 |
Asia(d) |  | 165 |  |  | 182 |
Total long-lived assets |  | $ | 1,583 |  |  | $ | 1,436 |
(a) | Net revenues and long-lived assets for certain of the Company's licensed operations are included within the geographic location of the reporting subsidiary which holds the respective license.
(b) | Includes the U.S., Canada, and Latin America. Net revenues earned in the U.S. were $4.688 billion, $4.827 billion, and $4.744 billion in Fiscal 2016, Fiscal 2015, and Fiscal 2014, respectively. Long-lived assets located in the U.S. were $1.160 billion and $1.069 billion as of April 2, 2016 and March 28, 2015, respectively.
(c) | Includes the Middle East.
(d) | Includes Australia and New Zealand.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 33 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 35 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8984-108599 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9031-108599 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9054-108599 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8538-108599 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8864-108599 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8924-108599 Reference 14: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8906-108599 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration