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Segment Information (Tables) | 9 Months Ended
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Dec. 25, 2021
Segment Reporting [Abstract] |
Net revenues by segment | Net revenues for each of the Company's segments are as follows:
|  | Three Months Ended |  | Nine Months Ended
|  | December 25, 2021 |  | December 26, 2020 |  | December 25, 2021 |  | December 26, 2020
|  | (millions)
Net revenues: |  |  |  |  |  |  |  |
North America |  | $ | 928.7 |  |  | $ | 715.4 |  |  | $ | 2,293.9 |  |  | $ | 1,423.4 |
Europe |  | 462.9 |  |  | 315.6 |  |  | 1,313.3 |  |  | 795.8 |
Asia |  | 382.6 |  |  | 329.6 |  |  | 940.7 |  |  | 738.1 |
Other non-reportable segments |  | 41.2 |  |  | 72.2 |  |  | 147.9 |  |  | 156.5 |
Total net revenues |  | $ | 1,815.4 |  |  | $ | 1,432.8 |  |  | $ | 4,695.8 |  |  | $ | 3,113.8 |
Net operating income (loss) by segment | Operating income (loss) for each of the Company's segments is as follows:
|  | Three Months Ended |  | Nine Months Ended
|  | December 25, 2021 |  | December 26, 2020 |  | December 25, 2021 |  | December 26, 2020
|  | (millions)
Operating income (loss)(a): |  |  |  |  |  |  |  |
North America |  | $ | 229.6 |  |  | $ | 166.1 |  |  | $ | 586.5 |  |  | $ | 264.6 |
Europe |  | 97.1 |  |  | 54.1 |  |  | 353.4 |  |  | 120.8 |
Asia |  | 85.6 |  |  | 69.4 |  |  | 189.4 |  |  | 120.6 |
Other non-reportable segments |  | 38.5 |  |  | 21.5 |  |  | 106.2 |  |  | 37.6 |
|  | 450.8 |  |  | 311.1 |  |  | 1,235.5 |  |  | 543.6 |
Unallocated corporate expenses |  | (161.5) |  |  | (130.8) |  |  | (465.3) |  |  | (384.1) |
Unallocated restructuring and other charges, net(b) |  | (0.2) |  |  | (9.9) |  |  | (8.6) |  |  | (177.4) |
Total operating income (loss) |  | $ | 289.1 |  |  | $ | 170.4 |  |  | $ | 761.6 |  |  | $ | (17.9) |
(a)Segment operating income (loss) during the three months ended December 26, 2020 reflects bad debt expense of $6.5 million and $1.0 million related to North America and Asia, respectively, and net bad debt expense reversals of $2.1 million and $0.3 million related to Europe and other non-reportable segments, respectively, primarily related to adjustments to reserves previously established in connection with COVID-19 business disruptions. During the nine months ended December 26, 2020, segment operating income (loss) reflects net bad debt expense reversals of $14.3 million, $6.1 million, and $0.9 million related to North America, Europe, and other non-reportable segments, respectively, primarily related to adjustments to reserves previously established in connection with COVID-19 business disruptions, and bad debt expense of $1.0 million related to Asia. Segment operating income (loss) and unallocated corporate expenses during the three-month and nine-month periods ended December 25, 2021 and December 26, 2020 also included asset impairment charges (see Note 7), which are detailed below:
|  |  | Three Months Ended |  | Nine Months Ended
|  |  | December 25, 2021 |  | December 26, 2020 |  | December 25, 2021 |  | December 26, 2020
|  |  | (millions)
| Asset impairment charges: |  |  |  |  |  |  |  |
| North America |  | $ | — |  |  | $ | (2.0) |  |  | $ | (0.4) |  |  | $ | (11.9) |
| Europe |  | — |  |  | (0.1) |  |  | — |  |  | (21.3) |
| Asia |  | — |  |  | (0.1) |  |  | (1.1) |  |  | (1.4) |
| Other non-reportable segments |  | — |  |  | — |  |  | (0.3) |  |  | (0.7) |
| Unallocated corporate expenses |  | — |  |  | (0.4) |  |  | (17.5) |  |  | (0.4) |
| Total asset impairment charges |  | $ | — |  |  | $ | (2.6) |  |  | $ | (19.3) |  |  | $ | (35.7) |
(b)The three-month and nine-month periods ended December 25, 2021 and December 26, 2020 included certain unallocated restructuring and other charges, net (see Note 8), which are detailed below:
|  |  | Three Months Ended |  | Nine Months Ended
|  |  | December 25, 2021 |  | December 26, 2020 |  | December 25, 2021 |  | December 26, 2020
|  |  | (millions)
| Unallocated restructuring and other charges, net: |  |  |  |  |  |  |  |
| North America-related |  | $ | — |  |  | $ | (0.7) |  |  | $ | 0.1 |  |  | $ | (42.0) |
| Europe-related |  | — |  |  | (5.9) |  |  | 1.0 |  |  | (32.2) |
| Asia-related |  | 0.8 |  |  | — |  |  | 1.2 |  |  | (9.9) |
| Other non-reportable segment-related |  | — |  |  | (1.6) |  |  | (0.1) |  |  | (3.4) |
| Corporate operations-related |  | 0.4 |  |  | (0.7) |  |  | (3.5) |  |  | (81.6) |
| Unallocated restructuring charges |  | 1.2 |  |  | (8.9) |  |  | (1.3) |  |  | (169.1) |
| Other charges (see Note 8) |  | (1.4) |  |  | (1.0) |  |  | (7.3) |  |  | (8.3) |
| Total unallocated restructuring and other charges, net |  | $ | (0.2) |  |  | $ | (9.9) |  |  | $ | (8.6) |  |  | $ | (177.4) |
Asset impairment charges by segment | Segment operating income (loss) and unallocated corporate expenses during the three-month and nine-month periods ended December 25, 2021 and December 26, 2020 also included asset impairment charges (see Note 7), which are detailed below:
|  |  | Three Months Ended |  | Nine Months Ended
|  |  | December 25, 2021 |  | December 26, 2020 |  | December 25, 2021 |  | December 26, 2020
|  |  | (millions)
| Asset impairment charges: |  |  |  |  |  |  |  |
| North America |  | $ | — |  |  | $ | (2.0) |  |  | $ | (0.4) |  |  | $ | (11.9) |
| Europe |  | — |  |  | (0.1) |  |  | — |  |  | (21.3) |
| Asia |  | — |  |  | (0.1) |  |  | (1.1) |  |  | (1.4) |
| Other non-reportable segments |  | — |  |  | — |  |  | (0.3) |  |  | (0.7) |
| Unallocated corporate expenses |  | — |  |  | (0.4) |  |  | (17.5) |  |  | (0.4) |
| Total asset impairment charges |  | $ | — |  |  | $ | (2.6) |  |  | $ | (19.3) |  |  | $ | (35.7) |
Unallocated restructuring and other charges | The three-month and nine-month periods ended December 25, 2021 and December 26, 2020 included certain unallocated restructuring and other charges, net (see Note 8), which are detailed below:
|  |  | Three Months Ended |  | Nine Months Ended
|  |  | December 25, 2021 |  | December 26, 2020 |  | December 25, 2021 |  | December 26, 2020
|  |  | (millions)
| Unallocated restructuring and other charges, net: |  |  |  |  |  |  |  |
| North America-related |  | $ | — |  |  | $ | (0.7) |  |  | $ | 0.1 |  |  | $ | (42.0) |
| Europe-related |  | — |  |  | (5.9) |  |  | 1.0 |  |  | (32.2) |
| Asia-related |  | 0.8 |  |  | — |  |  | 1.2 |  |  | (9.9) |
| Other non-reportable segment-related |  | — |  |  | (1.6) |  |  | (0.1) |  |  | (3.4) |
| Corporate operations-related |  | 0.4 |  |  | (0.7) |  |  | (3.5) |  |  | (81.6) |
| Unallocated restructuring charges |  | 1.2 |  |  | (8.9) |  |  | (1.3) |  |  | (169.1) |
| Other charges (see Note 8) |  | (1.4) |  |  | (1.0) |  |  | (7.3) |  |  | (8.3) |
| Total unallocated restructuring and other charges, net |  | $ | (0.2) |  |  | $ | (9.9) |  |  | $ | (8.6) |  |  | $ | (177.4) |
Depreciation and amortization by segment | Depreciation and amortization expense for the Company's segments is as follows:
|  | Three Months Ended |  | Nine Months Ended
|  | December 25, 2021 |  | December 26, 2020 |  | December 25, 2021 |  | December 26, 2020
|  | (millions)
Depreciation and amortization expense: |  |  |  |  |  |  |  |
North America |  | $ | 17.8 |  |  | $ | 17.0 |  |  | $ | 53.5 |  |  | $ | 52.7 |
Europe |  | 7.4 |  |  | 7.7 |  |  | 22.7 |  |  | 23.5 |
Asia |  | 13.1 |  |  | 14.5 |  |  | 38.9 |  |  | 43.1 |
Other non-reportable segments |  | — |  |  | 1.1 |  |  | 0.4 |  |  | 3.2 |
Unallocated corporate |  | 17.9 |  |  | 20.0 |  |  | 53.8 |  |  | 63.0 |
Total depreciation and amortization expense |  | $ | 56.2 |  |  | $ | 60.3 |  |  | $ | 169.3 |  |  | $ | 185.5 |
Net revenues by geographic location | Net revenues by geographic location of the reporting subsidiary are as follows:
|  | Three Months Ended |  | Nine Months Ended
|  | December 25, 2021 |  | December 26, 2020 |  | December 25, 2021 |  | December 26, 2020
|  | (millions)
Net revenues(a): |  |  |  |  |  |  |  |
The Americas(b) |  | $ | 974.5 |  |  | $ | 788.6 |  |  | $ | 2,451.8 |  |  | $ | 1,581.1 |
Europe(c) |  | 458.0 |  |  | 314.4 |  |  | 1,302.5 |  |  | 794.1 |
Asia(d) |  | 382.9 |  |  | 329.8 |  |  | 941.5 |  |  | 738.6 |
Total net revenues |  | $ | 1,815.4 |  |  | $ | 1,432.8 |  |  | $ | 4,695.8 |  |  | $ | 3,113.8 |
(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 and nine-month periods ended December 25, 2021 were $939.2 million and $2.356 billion, respectively, and $749.5 million and $1.503 billion during the three-month and nine-month periods ended December 26, 2020, respectively. (c)Includes the Middle East. (d)Includes Australia and New Zealand.

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