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DISCONTINUED OPERATIONS AND OTHER DIVESTITURES (Tables) | 6 Months Ended
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Sep. 28, 2019
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Discontinued Operations Presented in Financial Statements | The following table presents the assets and liabilities of the Reef® brand and Van Moer businesses at September 2018:
(in thousands) |  | September 2018
Cash |  | $ | 2,059 |
Accounts receivable, net |  | 19,013 |
Inventories |  | 32,856 |
Other current assets |  | 1,649 |
Property, plant and equipment, net |  | 4,859 |
Intangible assets |  | 83,332 |
Goodwill |  | 48,381 |
Other assets |  | 24 |
Allowance to reduce assets to estimated fair value, less costs to sell |  | (32,321 | )
Total assets held-for-sale |  | $ | 159,852 |
Accounts payable |  | $ | 4,030 |
Accrued liabilities |  | 5,857 |
Other liabilities |  | 1,471 |
Total liabilities held-for-sale |  | $ | 11,358 |
The following table summarizes the major line items for the Jeans business and Nautica® brand business that are included in the income (loss) from discontinued operations, net of tax line item in the Consolidated Statements of Income:
|  | Three Months Ended September |  |  | Six Months Ended September
(In thousands) |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018
Net revenues |  | $ | — |  |  |  | $ | 687,996 |  |  |  | $ | 335,203 |  |  |  | $ | 1,360,920 |
Cost of goods sold |  | — |  |  |  | 405,210 |  |  |  | 203,124 |  |  |  | 799,604 |
Selling, general and administrative expenses |  | — |  |  |  | 169,103 |  |  |  | 152,798 |  |  |  | 335,034 |
Interest, net |  | — |  |  |  | 1,308 |  |  |  | (552 | ) |  |  | 2,277 |
Other income (expense), net |  | — |  |  |  | (2,085 | ) |  |  | (667 | ) |  |  | (3,054 | )
Income (loss) from discontinued operations before income taxes |  | — |  |  |  | 112,906 |  |  |  | (21,938 | ) |  |  | 225,505 |
Gain on the sale of discontinued operations before income taxes |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,206 |
Total income (loss) from discontinued operations before income taxes |  | — |  |  |  | 112,906 |  |  |  | (21,938 | ) |  |  | 229,711 |
Income tax expense (a) |  | — |  |  |  | (21,909 | ) |  |  | (26,090 | ) |  |  | (39,720 | )
Income (loss) from discontinued operations, net of tax |  | $ | — |  |  |  | $ | 90,997 |  |  |  | $ | (48,028 | ) |  |  | $ | 189,991 |
(a) | Income tax expense for the six months ended September 2019 includes additional tax expense on nondeductible transaction costs and uncertain tax positions.
The following table summarizes the carrying amounts of major classes of assets and liabilities of discontinued operations for each of the periods presented:
(In thousands) |  | September 2019 |  |  | March 2019 |  | September 2018
Cash and equivalents |  | $ | — |  |  |  | $ | 97,892 |  |  | $ | 85,993 |
Accounts receivable, net |  | — |  |  |  | 242,941 |  |  | 234,790 |
Inventories |  | — |  |  |  | 510,370 |  |  | 524,851 |
Other current assets |  | — |  |  |  | 44,827 |  |  | 39,062 |
Property, plant and equipment, net |  | — |  |  |  | 142,091 |  |  | 141,860 |
Intangible assets |  | — |  |  |  | 51,913 |  |  | 54,186 |
Goodwill |  | — |  |  |  | 213,570 |  |  | 219,683 |
Other assets |  | — |  |  |  | 74,144 |  |  | 66,125 |
Total assets of discontinued operations |  | $ | — |  |  |  | $ | 1,377,748 |  |  | $ | 1,366,550 |
Short-term borrowings |  | $ | — |  |  |  | $ | 5,995 |  |  | $ | 5,617 |
Accounts payable |  | — |  |  |  | 113,866 |  |  | 128,878 |
Accrued liabilities |  | — |  |  |  | 141,621 |  |  | 123,929 |
Other liabilities |  | — |  |  |  | 48,581 |  |  | 44,616 |
Total liabilities of discontinued operations |  | $ | — |  |  |  | $ | 310,063 |  |  | $ | 303,040 |

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