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Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Apr. 02, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The following table details the changes in goodwill for each of the Company's segments during Fiscal 2022 and Fiscal 2021:

						North America						Europe						Asia						Other Non-reportable Segments						Total
						(millions)
Balance at March 28, 2020						$	421.8					$	285.1					$	76.6					$	132.0					$	915.5
Foreign currency translation						—						18.9						0.2						—						19.1
Balance at March 27, 2021						421.8						304.0						76.8						132.0						934.6
Foreign currency translation						—						(18.0)						(7.9)						—						(25.9)
Balance at April 2, 2022						$	421.8					$	286.0					$	68.9					$	132.0					$	908.7

Other Intangible Assets

Other intangible assets consist of the following:

						April 2, 2022																		March 27, 2021
						Gross Carrying Amount						Accum. Amort.						Net						Gross Carrying Amount						Accum. Amort.						Net
						(millions)
Intangible assets subject to amortization:
Re-acquired licensed trademarks						$	228.6					$	(168.8)					$	59.8					$	231.7					$	(163.6)					$	68.1
Customer relationships						245.8						(212.3)						33.5						254.3						(211.0)						43.3
Other						10.1						(7.8)						2.3						10.1						(7.7)						2.4
Total intangible assets subject to amortization						484.5						(388.9)						95.6						496.1						(382.3)						113.8
Intangible assets not subject to amortization:
Trademarks and brands						7.3						N/A						7.3						7.3						N/A						7.3
Total intangible assets						$	491.8					$	(388.9)					$	102.9					$	503.4					$	(382.3)					$	121.1

Amortization

Based on the balance of the Company's finite-lived intangible assets subject to amortization as of April 2, 2022, the expected amortization expense for each of the next five fiscal years and thereafter is as follows:

						Amortization Expense
						(millions)
Fiscal 2023						$	14.0
Fiscal 2024						13.2
Fiscal 2025						12.9
Fiscal 2026						10.7
Fiscal 2027						10.0
Fiscal 2028 and thereafter						34.8
Total						$	95.6

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- References

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- Definition

Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
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-URI http://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

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- Definition

Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275

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