XML 57 R41.htm IDEA: XBRL DOCUMENT
v3.22.1

Leases (Tables) | 12 Months Ended
--- | ---
Apr. 02, 2022
Lessee Disclosure [Abstract] |
ROU Assets and Lease Liabilities | The following table summarizes ROU assets and lease liabilities recorded on the consolidated balance sheet:
|  | April 2, 2022 |  | March 27, 2021 |  | Location Recorded on Balance Sheet
|  | (millions) |  |
Assets: |  |  |  |  |  |
Operating leases |  | $ | 1,111.3 |  |  | $ | 1,239.5 |  |  | Operating lease right-of-use assets
Finance leases |  | 299.4 |  |  | 331.6 |  |  | Property and equipment, net
Total lease assets |  | $ | 1,410.7 |  |  | $ | 1,571.1 |  |  |
Liabilities: |  |  |  |  |  |
Operating leases: |  |  |  |  |  |
Current portion |  | $ | 262.0 |  |  | $ | 302.9 |  |  | Current operating lease liabilities
Non-current portion |  | 1,132.2 |  |  | 1,294.5 |  |  | Long-term operating lease liabilities
Total operating lease liabilities |  | 1,394.2 |  |  | 1,597.4 |  |  |
Finance leases: |  |  |  |  |  |
Current portion |  | 19.8 |  |  | 19.7 |  |  | Accrued expenses and other current liabilities
Non-current portion |  | 341.6 |  |  | 370.5 |  |  | Long-term finance lease liabilities
Total finance lease liabilities |  | 361.4 |  |  | 390.2 |  |  |
Total lease liabilities |  | $ | 1,755.6 |  |  | $ | 1,987.6 |  |  |
Lease Cost | The following table summarizes the composition of total lease cost during the fiscal periods presented:
|  | Fiscal Years Ended |  |
|  | April 2, 2022 |  | March 27, 2021 |  | March 28, 2020 |  | Location Recorded in Earnings
|  | (millions) |  |
Operating lease cost |  | $ | 300.2 |  |  | $ | 323.5 |  |  | $ | 322.0 |  |  | (a)
Finance lease costs: |  |  |  |  |  |  |  |
Depreciation of leased assets |  | 26.1 |  |  | 20.5 |  |  | 18.1 |  |  | SG&A expenses
Accretion of lease liabilities |  | 12.2 |  |  | 9.7 |  |  | 8.1 |  |  | Interest expense
Variable lease cost |  | 291.2 |  |  | 224.7 |  |  | 298.0 |  |  | (b)
Short-term lease cost |  | 3.6 |  |  | 4.9 |  |  | 5.5 |  |  | SG&A expenses
Sublease income |  | (6.7) |  |  | (1.8) |  |  | (2.9) |  |  | Restructuring and other charges, net
Total lease cost |  | $ | 626.6 |  |  | $ | 581.5 |  |  | $ | 648.8 |  |  |
(a)During Fiscal 2022, $3.3 million was included within cost of goods sold, $276.2 million was included within SG&A expenses, and $20.7 million was included within restructuring and other charges, net. During Fiscal 2021, $3.4 million was included within cost of goods sold, $307.0 million was included within SG&A expenses, and $13.1 million was included within restructuring and other charges, net. During Fiscal 2020, $4.4 million was included within cost of goods sold, $307.3 million was included within SG&A expenses, and $10.3 million was included within restructuring and other charges, net. (b)During Fiscal 2022, $4.6 million was included within cost of goods sold, $288.6 million was included within SG&A expenses, and a benefit of $2.0 million was included within restructuring and other charges, net. During Fiscal 2021, $4.5 million was included within cost of goods sold and $220.2 million was included within SG&A expenses. During Fiscal 2020, $4.7 million was included within cost of goods sold, $290.3 million was included within SG&A expenses, and $3.0 million was included within restructuring and other charges, net.
Cash paid for amounts included in the measurement of lease liabilities | The following table summarizes certain cash flow information related to the Company's leases:
|  | Fiscal Year Ended
|  | April 2, 2022 |  | March 27, 2021 |  | March 28, 2020
|  | (millions)
Cash paid for amounts included in the measurement of lease liabilities: |  |  |  |  |  |
Operating cash flows from operating leases |  | $ | 384.6 |  |  | $ | 360.6 |  |  | $ | 383.9 |
Operating cash flows from finance leases |  | 12.3 |  |  | 6.7 |  |  | 8.0 |
Financing cash flows from finance leases |  | 23.1 |  |  | 13.9 |  |  | 13.6 |
Lease Liability Maturity | The following table presents a maturity analysis summary of contractual cash payments for the Company's lease liabilities recorded on the consolidated balance sheet as of April 2, 2022:
|  | April 2, 2022
|  | Operating Leases |  | Finance Leases
|  | (millions)
Fiscal 2023 |  | $ | 286.1 |  |  | $ | 32.5 |
Fiscal 2024 |  | 276.6 |  |  | 34.3 |
Fiscal 2025 |  | 230.7 |  |  | 34.8 |
Fiscal 2026 |  | 162.9 |  |  | 35.1 |
Fiscal 2027 |  | 141.4 |  |  | 34.6 |
Fiscal 2028 and thereafter |  | 396.5 |  |  | 276.1 |
Total lease payments |  | 1,494.2 |  |  | 447.4 |
Less: interest |  | (100.0) |  |  | (86.0) |
Total lease liabilities |  | $ | 1,394.2 |  |  | $ | 361.4 |
Supplemental lease information | The following table summarizes the weighted-average remaining lease terms and weighted-average discount rates related to the Company's operating and finance leases recorded on the consolidated balance sheet:
|  | April 2, 2022 |  | March 27, 2021
|  | Operating Leases |  | Finance Leases |  | Operating Leases |  | Finance Leases
Weighted-average remaining lease term (years) |  | 6.8 |  | 13.5 |  | 6.9 |  | 14.2
Weighted-average discount rate |  | 1.9 | % |  | 3.2 | % |  | 2.0 | % |  | 3.3 | %

X
- Definition Cash paid for amounts included in the measurement of lease liabilities, Lessee [Table Text Block] + References No definition available. + Details
Name: | rl_CashpaidforamountsincludedinthemeasurementofleaseliabilitiesLesseeTableTextBlock
Namespace Prefix: | rl_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Operating and Finance Lease Liability Maturity, Lessee [Table Text Block] + References No definition available. + Details
Name: | rl_OperatingandFinanceLeaseLiabilityMaturityLesseeTableTextBlock
Namespace Prefix: | rl_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition ROU Assets and Lease Liabilities [Table Text Block] + References No definition available. + Details
Name: | rl_ROUAssetsandLeaseLiabilitiesTableTextBlock
Namespace Prefix: | rl_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Supplemental lease information, Lessee [Table Text Block] + References No definition available. + Details
Name: | rl_SupplementalleaseinformationLesseeTableTextBlock
Namespace Prefix: | rl_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918686-209980 + Details
Name: | us-gaap_LeaseCostTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_LesseeDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration