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Restructuring and Other Charges (Tables)

12 Months Ended

Mar. 27, 2021

Fiscal 2021 Strategic Realignment Plan

Restructuring Cost and Reserve [Line Items]

Restructuring and Related Costs [Table Text Block]

A summary of the charges recorded in connection with the Fiscal 2021 Strategic Realignment Plan during the fiscal period presented (inclusive of immaterial other restructuring-related charges previously recorded during the first quarter of Fiscal 2021) is as follows:

						Fiscal Year Ended
						March 27, 2021
						(millions)
Cash-related restructuring charges:
Severance and benefit costs						$	144.2
Other cash charges						14.9
Total cash-related restructuring charges						159.1
Non-cash charges:
Impairment of assets (see Note 8)						69.4
Inventory-related charges(a)						8.3
Total non-cash charges						77.7
Total charges						$	236.8

(a)Inventory-related charges are recorded within cost of goods sold in the consolidated statements of operations.

Schedule of Restructuring Reserve by Type of Cost [Table Text Block]

A summary of the activity in the restructuring reserve related to the Fiscal 2021 Strategic Realignment Plan is as follows:

						Severance and Benefit Costs												Other Cash Charges						Total
						(millions)
Balance at March 28, 2020						$	—											$	—					$	—
Additions charged to expense						144.2												14.9						159.1
Cash payments charged against reserve						(48.0)												(11.7)						(59.7)
Balance at March 27, 2021						$	96.2											$	3.2					$	99.4

Fiscal 2019 Restructuring Plan [Member]

Restructuring Cost and Reserve [Line Items]

Restructuring and Related Costs [Table Text Block]

A summary of the charges recorded in connection with the Fiscal 2019 Restructuring Plan during the fiscal periods presented, as well as the cumulative charges recorded since its inception, is as follows:

						Fiscal Year Ended												Cumulative Charges
						March 28, 2020						March 30, 2019
						(millions)
Cash-related restructuring charges:
Severance and benefit costs						$	30.1					$	60.2					$	90.3
Lease termination and store closure costs						0.5						1.8						2.3
Other cash charges						3.4						7.4						10.8
Total cash-related restructuring charges						34.0						69.4						103.4
Non-cash charges:
Impairment of assets (see Note 8)						8.7						10.3						19.0
Inventory-related charges(a)						2.2						6.0						8.2
Accelerated stock-based compensation expense(b)						3.6						—						3.6
Loss on sale of property(c)						—						11.6						11.6
Total non-cash charges						14.5						27.9						42.4
Total charges						$	48.5					$	97.3					$	145.8

(a)Inventory-related charges are recorded within cost of goods sold in the consolidated statements of operations.

(b)Accelerated stock-based compensation expense, which is recorded within restructuring and other charges in the consolidated statements of operations, was recorded in connection with vesting provisions associated with certain separation agreements.

(c)Loss on sale of property, which was recorded within restructuring and other charges in the consolidated statements of operations, was incurred in connection with the sale of one of the Company's distribution centers in North America. Total cash proceeds from the sale were $20.0 million.

Schedule of Restructuring Reserve by Type of Cost [Table Text Block]

A summary of the activity in the restructuring reserve related to the Fiscal 2019 Restructuring Plan is as follows:

						Severance and Benefit Costs						Lease Termination and Store Closure Costs						Other Cash Charges						Total
						(millions)
Balance at March 31, 2018						$	—					$	—					$	—					$	—
Additions charged to expense						60.2						1.8						7.4						69.4
Cash payments charged against reserve						(19.0)						(2.1)						(7.3)						(28.4)
Non-cash adjustments						(0.2)						0.8						—						0.6
Balance at March 30, 2019						41.0						0.5						0.1						41.6
Additions charged to expense						30.1						0.5						3.4						34.0
Cash payments charged against reserve						(47.6)						(0.6)						(2.9)						(51.1)
Non-cash adjustments(a)						—						(0.4)						—						(0.4)
Balance at March 28, 2020						23.5						—						0.6						24.1
Additions charged to expense						—						—						—						—
Cash payments charged against reserve						(20.8)						—						(0.6)						(21.4)
Balance at March 27, 2021						$	2.7					$	—					$	—					$	2.7

(a)Certain lease-related liabilities previously recognized in connection with the Company's closure and cessation of use of real estate locations were reclassified and reflected as reductions of the respective operating lease ROU assets initially recognized as of the beginning of Fiscal 2020, upon adoption of new lease accounting rules prescribed by ASU No. 2016-02, "Leases" ("ASU 2016-02").

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Tabular disclosure of costs incurred for restructuring including, but not limited to, exit and disposal activities, remediation, implementation, integration, asset impairment, and charges against earnings from the write-down of assets.

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Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

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