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DISCONTINUED OPERATIONS AND OTHER DIVESTITURES (Tables) | 9 Months Ended
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Dec. 28, 2019
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Discontinued Operations Presented in Financial Statements | 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 December |  |  | Nine Months Ended December
(In thousands) |  | 2019 |  |  | 2018 |  |  | 2019 |  |  | 2018
Net revenues |  | $ | — |  |  |  | $ | 712,447 |  |  |  | $ | 335,203 |  |  |  | $ | 2,073,367 |
Cost of goods sold |  | — |  |  |  | 431,711 |  |  |  | 203,124 |  |  |  | 1,231,315 |
Selling, general and administrative expenses |  | — |  |  |  | 209,651 |  |  |  | 152,798 |  |  |  | 544,685 |
Interest, net |  | — |  |  |  | 1,373 |  |  |  | (552 | ) |  |  | 3,650 |
Other income (expense), net |  | — |  |  |  | (747 | ) |  |  | (667 | ) |  |  | (3,801 | )
Income (loss) from discontinued operations before income taxes |  | — |  |  |  | 71,711 |  |  |  | (21,938 | ) |  |  | 297,216 |
Gain on the sale of discontinued operations before income taxes |  | — |  |  |  | 383 |  |  |  | — |  |  |  | 4,589 |
Total income (loss) from discontinued operations before income taxes |  | — |  |  |  | 72,094 |  |  |  | (21,938 | ) |  |  | 301,805 |
Income tax benefit (expense) (a) |  | 12,256 |  |  |  | (17,705 | ) |  |  | (13,834 | ) |  |  | (57,425 | )
Income (loss) from discontinued operations, net of tax |  | $ | 12,256 |  |  |  | $ | 54,389 |  |  |  | $ | (35,772 | ) |  |  | $ | 244,380 |
(a) | Income tax benefit for the three months ended December 2019 reflects a return to accrual adjustment to the previously recorded tax expense. Income tax expense for the nine months ended December 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) |  | December 2019 |  |  | March 2019 |  | December 2018
Cash and equivalents |  | $ | — |  |  |  | $ | 97,892 |  |  | $ | 83,334 |
Accounts receivable, net |  | — |  |  |  | 242,941 |  |  | 208,258 |
Inventories |  | — |  |  |  | 510,370 |  |  | 464,454 |
Other current assets |  | — |  |  |  | 44,827 |  |  | 44,444 |
Property, plant and equipment, net |  | — |  |  |  | 142,091 |  |  | 138,975 |
Intangible assets |  | — |  |  |  | 51,913 |  |  | 53,059 |
Goodwill |  | — |  |  |  | 213,570 |  |  | 219,612 |
Other assets |  | — |  |  |  | 74,144 |  |  | 62,393 |
Total assets of discontinued operations |  | $ | — |  |  |  | $ | 1,377,748 |  |  | $ | 1,274,529 |
Short-term borrowings |  | $ | — |  |  |  | $ | 5,995 |  |  | $ | 3,215 |
Accounts payable |  | — |  |  |  | 113,866 |  |  | 109,272 |
Accrued liabilities |  | — |  |  |  | 141,621 |  |  | 118,531 |
Other liabilities |  | — |  |  |  | 48,581 |  |  | 45,896 |
Total liabilities of discontinued operations |  | $ | — |  |  |  | $ | 310,063 |  |  | $ | 276,914 |

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