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Segment Information | 12 Months Ended
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Mar. 30, 2024
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company has three reportable segments based on its business activities and organization: •North America — The North America segment primarily consists of sales of Ralph Lauren branded apparel, footwear & accessories, home, and related products made through the Company's retail and wholesale businesses primarily in the U.S. and Canada. In North America, the Company's retail business is primarily comprised of its Ralph Lauren stores, its outlet stores, and its digital commerce sites, www.RalphLauren.com and www.RalphLauren.ca. The Company's wholesale business in North America is comprised primarily of sales to department stores and, to a lesser extent, specialty stores. •Europe — The Europe segment primarily consists of sales of Ralph Lauren branded apparel, footwear & accessories, home, and related products made through the Company's retail and wholesale businesses in Europe and emerging markets. In Europe, the Company's retail business is primarily comprised of its Ralph Lauren stores, its outlet stores, its concession-based shop-within-shops, and its various digital commerce sites. The Company's wholesale business in Europe is comprised primarily of a varying mix of sales to both department stores and specialty stores, depending on the country, as well as to various third-party digital and licensee partners. •Asia — The Asia segment primarily consists of sales of Ralph Lauren branded apparel, footwear & accessories, home, and related products made through the Company's retail and wholesale businesses in Asia, Australia, and New Zealand. The Company's retail business in Asia is primarily comprised of its Ralph Lauren stores, its outlet stores, its concession-based shop-within-shops, and its various digital commerce sites. In addition, the Company sells its products online through various third-party digital partner commerce sites. The Company's wholesale business in Asia is comprised primarily of sales to department stores and various third-party digital and licensee partners. No operating segments were aggregated to form the Company's reportable segments. In addition to these reportable segments, the Company also has other non-reportable segments, which primarily consist of Ralph Lauren and Chaps branded royalty revenues earned through its global licensing alliances. In addition, prior to its disposition at the end of the Company's first quarter of Fiscal 2022, other non-reportable segments also included sales of Club Monaco branded products made through the Company's retail and wholesale businesses in the U.S., Canada, and Europe, and its licensing alliances in Asia. Refer to Note 9 for additional discussion regarding the disposition of the Company's former Club Monaco business, as well as the transition of its Chaps business to a fully licensed business model. The Company's segment reporting structure is consistent with how it establishes its overall business strategy, allocates resources, and assesses performance of its business. The accounting policies of the Company's segments are consistent with those described in Notes 2 and 3. Sales and transfers between segments are generally recorded at cost and treated as transfers of inventory. All intercompany revenues are eliminated in consolidation and are not reviewed when evaluating segment performance. Each segment's performance is evaluated based upon net revenues and operating income before restructuring-related charges, impairment of assets, and certain other one-time items, if any. Certain corporate overhead expenses related to global functions, most notably the Company's executive office, information technology, finance and accounting, human resources, and legal departments, largely remain at corporate. Additionally, other costs that cannot be allocated to the segments based on specific usage are also maintained at corporate, including corporate marketing and advertising expenses, depreciation and amortization of corporate assets, and other general and administrative expenses resulting from corporate-level activities and projects. Asset information by segment is not utilized for purposes of assessing performance or allocating resources, and therefore such information has not been presented. Net revenues for each of the Company's segments are as follows:
|  | Fiscal Years Ended
|  | March 30, 2024 |  | April 1, 2023 |  | April 2, 2022
|  | (millions)
Net revenues: |  |  |  |  |  |
North America |  | $ | 2,950.5 |  |  | $ | 3,020.5 |  |  | $ | 2,968.2 |
Europe |  | 1,968.0 |  |  | 1,839.2 |  |  | 1,780.7 |
Asia |  | 1,566.6 |  |  | 1,426.7 |  |  | 1,286.8 |
Other non-reportable segments |  | 146.3 |  |  | 157.2 |  |  | 182.8 |
Total net revenues |  | $ | 6,631.4 |  |  | $ | 6,443.6 |  |  | $ | 6,218.5 |
Operating income for each of the Company's segments is as follows:
|  | Fiscal Years Ended
|  | March 30, 2024 |  | April 1, 2023 |  | April 2, 2022
|  | (millions)
Operating income(a): |  |  |  |  |  |
North America |  | $ | 553.6 |  |  | $ | 543.2 |  |  | $ | 676.7 |
Europe |  | 464.9 |  |  | 406.5 |  |  | 444.0 |
Asia |  | 335.9 |  |  | 289.6 |  |  | 228.8 |
Other non-reportable segments |  | 128.9 |  |  | 146.4 |  |  | 138.4 |
|  | 1,483.3 |  |  | 1,385.7 |  |  | 1,487.9 |
Unallocated corporate expenses |  | (652.0) |  |  | (638.5) |  |  | (667.3) |
Unallocated restructuring and other charges, net(b) |  | (74.9) |  |  | (43.0) |  |  | (22.2) |
Total operating income |  | $ | 756.4 |  |  | $ | 704.2 |  |  | $ | 798.4 |
(a)Segment operating income and unallocated corporate expenses during the fiscal years presented also included asset impairment charges (see Note 8), which are detailed below. No asset impairment charges were recorded during Fiscal 2024.
|  | Fiscal Years Ended
|  | March 30, 2024 |  | April 1, 2023 |  | April 2, 2022
|  | (millions)
Asset impairment charges: |  |  |  |  |  |
North America |  | $ | — |  |  | $ | (9.5) |  |  | $ | (2.4) |
Asia |  | — |  |  | — |  |  | (1.1) |
Other non-reportable segments |  | — |  |  | — |  |  | (0.3) |
Unallocated corporate expenses |  | — |  |  | (0.2) |  |  | (17.5) |
Total asset impairment charges |  | $ | — |  |  | $ | (9.7) |  |  | $ | (21.3) |
(b)The fiscal years presented included certain unallocated restructuring and other charges, net (see Note 9), which are detailed below:
|  | Fiscal Years Ended
|  | March 30, 2024 |  | April 1, 2023 |  | April 2, 2022
|  | (millions)
Unallocated restructuring and other charges, net: |  |  |  |  |  |
North America-related |  | $ | (6.6) |  |  | $ | (0.4) |  |  | $ | 0.1 |
Europe-related |  | (3.9) |  |  | (2.7) |  |  | 2.1 |
Asia-related |  | (7.6) |  |  | (1.3) |  |  | 2.8 |
Other non-reportable segment-related |  | (0.6) |  |  | — |  |  | (0.1) |
Corporate operations-related |  | (37.1) |  |  | (14.8) |  |  | (8.9) |
Unallocated restructuring charges |  | (55.8) |  |  | (19.2) |  |  | (4.0) |
Other charges (see Note 9) |  | (19.1) |  |  | (23.8) |  |  | (18.2) |
Total unallocated restructuring and other charges, net |  | $ | (74.9) |  |  | $ | (43.0) |  |  | $ | (22.2) |
The following tables summarize depreciation and amortization expense and capital expenditures for each of the Company's segments:
|  | Fiscal Years Ended
|  | March 30, 2024 |  | April 1, 2023 |  | April 2, 2022
|  | (millions)
Depreciation and amortization expense: |  |  |  |  |  |
North America |  | $ | 81.1 |  |  | $ | 74.3 |  |  | $ | 72.8 |
Europe |  | 36.9 |  |  | 32.0 |  |  | 32.3 |
Asia |  | 52.4 |  |  | 48.3 |  |  | 51.9 |
Other non-reportable segments |  | — |  |  | — |  |  | 0.4 |
Unallocated corporate |  | 58.6 |  |  | 65.9 |  |  | 72.3 |
Total depreciation and amortization expense |  | $ | 229.0 |  |  | $ | 220.5 |  |  | $ | 229.7 |
|  | Fiscal Years Ended
|  | March 30, 2024 |  | April 1, 2023 |  | April 2, 2022
|  | (millions)
Capital expenditures: |  |  |  |  |  |
North America |  | $ | 55.5 |  |  | $ | 73.5 |  |  | $ | 36.6 |
Europe |  | 25.2 |  |  | 34.3 |  |  | 39.0 |
Asia |  | 49.0 |  |  | 68.4 |  |  | 49.1 |
Other non-reportable segments |  | — |  |  | — |  |  | 1.8 |
Unallocated corporate |  | 35.1 |  |  | 41.3 |  |  | 40.4 |
Total capital expenditures |  | $ | 164.8 |  |  | $ | 217.5 |  |  | $ | 166.9 |
Net revenues and long-lived assets by geographic location of the reporting subsidiary are as follows:
|  | Fiscal Years Ended
|  | March 30, 2024 |  | April 1, 2023 |  | April 2, 2022
|  | (millions)
Net revenues(a): |  |  |  |  |  |
The Americas(b) |  | $ | 3,122.2 |  |  | $ | 3,201.1 |  |  | $ | 3,164.5 |
Europe(c) |  | 1,942.6 |  |  | 1,815.9 |  |  | 1,766.1 |
Asia(d) |  | 1,566.6 |  |  | 1,426.6 |  |  | 1,287.9 |
Total net revenues |  | $ | 6,631.4 |  |  | $ | 6,443.6 |  |  | $ | 6,218.5 |
|  | March 30, 2024 |  | April 1, 2023
|  | (millions)
Long-lived assets(a): |  |  |  |
The Americas(b) |  | $ | 1,045.8 |  |  | $ | 1,121.5 |
Europe(c) |  | 520.5 |  |  | 612.7 |
Asia(d) |  | 298.7 |  |  | 355.3 |
Total long-lived assets |  | $ | 1,865.0 |  |  | $ | 2,089.5 |
(a)For certain of the Company's licensed operations, net revenues and long-lived assets, which is comprised of property and equipment and lease ROU assets, 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. were $2.971 billion, $3.055 billion, and $3.039 billion in Fiscal 2024, Fiscal 2023, and Fiscal 2022, respectively. Long-lived assets located in the U.S. were $1.024 billion and $1.106 billion as of March 30, 2024 and April 1, 2023, respectively. (c)Includes the Middle East. (d)Includes Australia and New Zealand.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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