Other Assets and Liabilities

3 Months Ended

Jun. 29, 2019

Balance Sheet Related Disclosures [Abstract]

Prepaid expenses and other current assets consist of the following:



	June 29, 2019		March 30, 2019
	(millions)
Other taxes receivable	$	171.4	$	137.9
Non-trade receivables	43.8		30.8
Restricted cash	34.9		11.9
Tenant allowances receivable	24.5		8.2
Inventory return asset	21.9		18.4
Prepaid occupancy costs	21.0		38.0
Prepaid software maintenance	19.0		19.8
Derivative financial instruments	14.4		19.8
Prepaid advertising and marketing	12.2		9.6
Assets held-for-sale^(a)	—		20.8
Other prepaid expenses and current assets	49.6		44.1
Total prepaid expenses and other current assets	$	412.7	$	359.3

^(a)

Assets held-for-sale as of March 30, 2019 related to the estimated fair value, less costs to sell, of the Company's corporate jet. The jet was sold during the first quarter of Fiscal 2020 with no gain or loss recognized on sale. The Company donated the $20.8 million net cash proceeds received from the sale to the Polo Ralph Lauren Foundation, a non-profit, charitable foundation that supports various philanthropic programs.

Other non-current assets consist of the following:



	June 29, 2019		March 30, 2019
	(millions)
Non-current investments	$	34.1	$	44.9
Security deposits	25.3		24.5
Derivative financial instruments	9.6		12.2
Restricted cash	8.1		30.5
Other non-current assets	31.9		46.4
Total other non-current assets	$	109.0	$	158.5

Accrued expenses and other current liabilities consist of the following:



	June 29, 2019		March 30, 2019
	(millions)
Accrued operating expenses	$	200.5	$	235.2
Accrued inventory	194.6		141.0
Other taxes payable	183.3		158.3
Accrued payroll and benefits	145.5		232.5
Dividends payable	53.1		48.8
Accrued capital expenditures	44.2		47.6
Restructuring reserve	36.8		60.4
Deferred income	16.2		14.1
Finance lease obligations	11.0		22.3
Other accrued expenses and current liabilities	15.2		8.2
Total accrued expenses and other current liabilities	$	900.4	$	968.4

Other non-current liabilities consist of the following:



	June 29, 2019		March 30, 2019
	(millions)
Finance lease obligations	$	199.4	$	212.6
Deferred lease incentives and obligations	60.8		202.7
Derivative financial instruments	15.7		11.9
Deferred tax liabilities	10.7		50.2
Restructuring reserve	2.5		11.4
Other non-current liabilities	50.2		52.1
Total other non-current liabilities	$	339.3	$	540.9