Goodwill and Other Intangible Assets

12 Months Ended

Apr. 01, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following table details the changes in goodwill for each of the Company's segments during Fiscal 2017 and Fiscal 2016:



	Wholesale			Retail			Licensing			North America		Europe		Asia		Other Non-reportable Segments			Total
	(millions)
Balance at March 28, 2015	$	571.4		$	199.9		$	131.5		$	—	$	—	$	—	$	—		$	902.8
Foreign currency translation	10.4			2.9			1.8			—		—		—		—			15.1
Balance at April 2, 2016	581.8			202.8			133.3			—		—		—		—			917.9
Foreign currency translation	(14.3		)	(2.6		)	(1.3		)	—		—		—		—			(18.2		)
Balance at December 31, 2016	567.5			200.2			132.0			—		—		—		—			899.7
Segment reallocation^(a)	(567.5		)	(200.2		)	(132.0		)	421.8		269.2		71.5		137.2			—
Impairments	—			—			—			—		—		—		(5.2		)	(5.2		)
Foreign currency translation	—			—			—			—		6.7		3.4		—			10.1
Balance at April 1, 2017	$	—		$	—		$	—		$	421.8	$	275.9	$	74.9	$	132.0		$	904.6


^(a)	In connection with the realignment of the Company's segment reporting structure, the Company reallocated the carrying amount of goodwill to its new reporting units based upon each reporting unit's relative fair value as of the first day of its fourth quarter of Fiscal 2017. See Note 20 for further discussion of the Company's segment reporting structure.

Based on the results of the Company's goodwill impairment testing, the Company recorded an impairment charge of $5.2 million during Fiscal 2017 to fully write off the carrying value of reallocated goodwill related to one of its reporting units. No goodwill impairment charges were recorded during Fiscal 2016 or Fiscal 2015. See Note 13 for further discussion of the Company's goodwill impairment testing.

Other Intangible Assets

Other intangible assets consist of the following:



	April 1, 2017							April 2, 2016
	Gross Carrying Amount		Accum. Amort.			Net		Gross Carrying Amount		Accum. Amort.			Net
	(millions)
Intangible assets subject to amortization:
Re-acquired licensed trademarks	$	231.1	$	(130.2	)	$	100.9	$	231.3	$	(122.2	)	$	109.1
Customer relationships	252.1		(152.9		)	99.2		251.6		(137.6		)	114.0
Other	26.9		(14.5		)	12.4		27.7		(14.2		)	13.5
Total intangible assets subject to amortization	510.1		(297.6		)	212.5		510.6		(274.0		)	236.6
Intangible assets not subject to amortization:
Trademarks and brands	7.3		N/A			7.3		7.3		N/A			7.3
Total intangible assets	$	517.4	$	(297.6	)	$	219.8	$	517.9	$	(274.0	)	$	243.9

Amortization

Based on the balance of the Company's intangible assets subject to amortization as of April 1, 2017, the expected amortization expense for each of the next five fiscal years and thereafter is as follows:



	Amortization Expense
	(millions)
Fiscal 2018	$	23.9
Fiscal 2019	23.9
Fiscal 2020	23.2
Fiscal 2021	21.0
Fiscal 2022	17.5
Fiscal 2023 and thereafter	103.0
Total	$	212.5

The expected future amortization expense above reflects weighted-average estimated useful lives of 12.5 years for re-acquired licensed trademarks, 7.9 years for customer relationships, and 10.3 years for the Company's finite-lived intangible assets in total.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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