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Summary of Significant Accounting Policies (Tables)

9 Months Ended

Dec. 26, 2020

Summary of Significant Accounting Policies (Tables) [Abstract]

Contractually-Guaranteed Minimum Royalties

As of December 26, 2020, contractually-guaranteed minimum royalty amounts expected to be recognized as revenue during future periods were as follows:

						Contractually-Guaranteed Minimum Royalties(a)
						(millions)
Remainder of Fiscal 2021						$	18.6
Fiscal 2022						93.1
Fiscal 2023						73.8
Fiscal 2024						41.4
Fiscal 2025						14.1
Fiscal 2026 and thereafter						32.0
Total						$	273.0

(a)Amounts presented do not contemplate anticipated contract renewals or royalties earned in excess of the contractually-guaranteed minimums.

Disaggregation of Revenue

The following tables disaggregate the Company's net revenues into categories that depict how the nature, amount, timing, and uncertainty of revenues and cash flows are affected by economic factors for the fiscal periods presented:

						Three Months Ended
						December 26, 2020																														December 28, 2019
						North America						Europe						Asia						Other						Total						North America						Europe						Asia						Other						Total
						(millions)
Sales Channel(a):
Retail						$	453.0					$	165.9					$	313.7					$	30.0					$	962.6					$	575.0					$	257.2					$	274.1					$	63.9					$	1,170.2
Wholesale						262.4						149.7						15.9						5.4						433.4						335.6						180.6						15.5						2.9						534.6
Licensing						—						—						—						36.8						36.8						—						—						—						45.9						45.9
Total						$	715.4					$	315.6					$	329.6					$	72.2					$	1,432.8					$	910.6					$	437.8					$	289.6					$	112.7					$	1,750.7

						Nine Months Ended
						December 26, 2020																														December 28, 2019
						North America						Europe						Asia						Other						Total						North America						Europe						Asia						Other						Total
						(millions)
Sales Channel(a):
Retail						$	910.3					$	419.3					$	699.5					$	57.6					$	2,086.7					$	1,436.0					$	714.3					$	753.9					$	158.8					$	3,063.0
Wholesale						513.1						376.5						38.6						8.2						936.4						1,075.2						564.5						49.6						6.6						1,695.9
Licensing						—						—						—						90.7						90.7						—						—						—						126.8						126.8
Total						$	1,423.4					$	795.8					$	738.1					$	156.5					$	3,113.8					$	2,511.2					$	1,278.8					$	803.5					$	292.2					$	4,885.7

(a)Net revenues from the Company's retail and wholesale businesses are recognized at a point in time. Net revenues from the Company's licensing business are recognized over time.

Shipping and Handling Charges

A summary of shipping and handling costs for the fiscal periods presented is as follows:

						Three Months Ended												Nine Months Ended
						December 26, 2020						December 28, 2019						December 26, 2020						December 28, 2019
						(millions)
Shipping costs						$	18.3					$	12.3					$	38.9					$	34.7
Handling costs						38.9						40.8						98.7						116.5

Summary of Basic and Diluted shares

The weighted-average number of common shares outstanding used to calculate basic net income (loss) per common share is reconciled to shares used to calculate diluted net income (loss) per common share as follows:

						Three Months Ended												Nine Months Ended
						December 26, 2020						December 28, 2019						December 26, 2020						December 28, 2019
						(millions)
Basic shares						73.6						74.7						73.4						76.5
Dilutive effect of RSUs and stock options						1.0						1.1						—			(a)			1.4
Diluted shares						74.6						75.8						73.4						77.9

(a)Incremental shares of 1.2 million attributable to outstanding RSUs were excluded from the computation of diluted shares for the nine months ended December 26, 2020 as such shares would not be dilutive as a result of the net loss incurred.

Sales Returns and Allowances [Member]

Summary of Significant Accounting Policies (Tables) [Abstract]

Rollforward of activity in the Company's allowance for doubtful accounts and its aggregate reserves for returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances

A rollforward of the activity in the Company's reserves for returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances is presented below:

						Three Months Ended												Nine Months Ended
						December 26, 2020						December 28, 2019						December 26, 2020						December 28, 2019
						(millions)
Beginning reserve balance						$	171.9					$	195.5					$	204.7					$	176.5
Amount charged against revenue to increase reserve						86.0						138.5						169.9						421.0
Amount credited against customer accounts to decrease reserve						(86.8)						(149.4)						(208.9)						(411.1)
Foreign currency translation						4.1						1.1						9.5						(0.7)
Ending reserve balance						$	175.2					$	185.7					$	175.2					$	185.7

Allowance for Doubtful Accounts

Summary of Significant Accounting Policies (Tables) [Abstract]

Rollforward of activity in the Company's allowance for doubtful accounts and its aggregate reserves for returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances

A rollforward of the activity in the Company's allowance for doubtful accounts is presented below:

						Three Months Ended												Nine Months Ended
						December 26, 2020						December 28, 2019						December 26, 2020						December 28, 2019
						(millions)
Beginning reserve balance						$	46.3					$	15.6					$	71.5					$	15.7
Amount recorded to expense to increase (decrease) reserve(a)						5.1						0.4						(20.3)						1.9
Amount written-off against customer accounts to decrease reserve						(3.5)						(0.3)						(5.1)						(1.7)
Foreign currency translation						1.1						0.1						2.9						(0.1)
Ending reserve balance						$	49.0					$	15.8					$	49.0					$	15.8

(a)Amounts recorded to bad debt expense are included within SG&A expenses in the consolidated statements of operations.

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