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Segment Information (Tables)

3 Months Ended

Jun. 26, 2021

Segment Reporting [Abstract]

Net revenues by segment

Net revenues for each of the Company's segments are as follows:

												Three Months Ended
																		June 26, 2021						June 27, 2020
																		(millions)
Net revenues:
North America																		$	662.1					$	165.1
Europe																		354.9						120.7
Asia																		288.2						171.9
Other non-reportable segments																		71.1						29.8
Total net revenues																		$	1,376.3					$	487.5

Net operating income (loss) by segment

Operating income (loss) for each of the Company's segments is as follows:

												Three Months Ended
																		June 26, 2021						June 27, 2020
																		(millions)
Operating income (loss)(a):
North America																		$	186.3					$	(24.8)
Europe																		94.5						(16.9)
Asia																		60.4						10.1
Other non-reportable segments																		35.4						0.9
																		376.6						(30.7)
Unallocated corporate expenses																		(155.3)						(130.3)
Unallocated restructuring and other charges(b)																		(0.7)						(7.0)
Total operating income (loss)																		$	220.6					$	(168.0)

(a)During the three months ended June 27, 2020, segment operating income (loss) reflects net bad debt expense reversals of $15.5 million and $1.0 million related to North America and Europe, respectively, primarily related to adjustments to reserves previously established in connection with COVID-19 business disruptions. Segment operating income (loss) and unallocated corporate expenses during the three-month periods ended June 26, 2021 and June 27, 2020 also included asset impairment charges (see Note 7), which are detailed below:

															Three Months Ended
																					June 26, 2021						June 27, 2020
																					(millions)
			Asset impairment charges:
			North America																		$	—					$	(0.2)
			Asia																		(1.1)						(1.3)
			Other non-reportable segments																		—						(0.6)
			Unallocated corporate expenses																		(17.5)						—
			Total asset impairment charges																		$	(18.6)					$	(2.1)

(b)The three-month periods ended June 26, 2021 and June 27, 2020 included certain unallocated restructuring and other charges (see Note 8), which are detailed below:

															Three Months Ended
																					June 26, 2021						June 27, 2020
																					(millions)
			Unallocated restructuring and other charges:
			North America-related																		$	0.1					$	(0.1)
			Europe-related																		1.0						—
			Asia-related																		0.1						0.2
			Other non-reportable segment-related																		(0.1)						(1.1)
			Corporate operations-related																		(1.0)						(1.6)
			Unallocated restructuring benefits (charges)																		0.1						(2.6)
			Other charges (see Note 8)																		(0.8)						(4.4)
			Total unallocated restructuring and other charges																		$	(0.7)					$	(7.0)

Asset impairment charges by segment

Segment operating income (loss) and unallocated corporate expenses during the three-month periods ended June 26, 2021 and June 27, 2020 also included asset impairment charges (see Note 7), which are detailed below:

															Three Months Ended
																					June 26, 2021						June 27, 2020
																					(millions)
			Asset impairment charges:
			North America																		$	—					$	(0.2)
			Asia																		(1.1)						(1.3)
			Other non-reportable segments																		—						(0.6)
			Unallocated corporate expenses																		(17.5)						—
			Total asset impairment charges																		$	(18.6)					$	(2.1)

Schedule of unallocated restructuring and related costs

The three-month periods ended June 26, 2021 and June 27, 2020 included certain unallocated restructuring and other charges (see Note 8), which are detailed below:

															Three Months Ended
																					June 26, 2021						June 27, 2020
																					(millions)
			Unallocated restructuring and other charges:
			North America-related																		$	0.1					$	(0.1)
			Europe-related																		1.0						—
			Asia-related																		0.1						0.2
			Other non-reportable segment-related																		(0.1)						(1.1)
			Corporate operations-related																		(1.0)						(1.6)
			Unallocated restructuring benefits (charges)																		0.1						(2.6)
			Other charges (see Note 8)																		(0.8)						(4.4)
			Total unallocated restructuring and other charges																		$	(0.7)					$	(7.0)

Depreciation and amortization by segment

Depreciation and amortization expense for the Company's segments is as follows:

												Three Months Ended
																		June 26, 2021						June 27, 2020
																		(millions)
Depreciation and amortization expense:
North America																		$	18.0					$	18.1
Europe																		7.8						7.7
Asia																		12.9						14.2
Other non-reportable segments																		0.4						1.1
Unallocated corporate																		18.1						22.6
Total depreciation and amortization expense																		$	57.2					$	63.7

Net revenues by geographic location

Net revenues by geographic location of the reporting subsidiary are as follows:

												Three Months Ended
																		June 26, 2021						June 27, 2020
																		(millions)
Net revenues(a):
The Americas(b)																		$	735.4					$	194.7
Europe(c)																		352.5						120.9
Asia(d)																		288.4						171.9
Total net revenues																		$	1,376.3					$	487.5

(a)Net revenues 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. during the three-month periods ended June 26, 2021 and June 27, 2020 were $708.0 million and $186.1 million, respectively.

(c)Includes the Middle East.

(d)Includes Australia and New Zealand.

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