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Summary of Significant Accounting Policies (Tables) | 3 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2012 | Mar. 31, 2012
Activity and Balances of Sales Reserves |  | The following table details the activity and balances of the Company’s sales reserves for the fiscal years ended March 31, 2012, April 2, 2011 and April 3, 2010 (in thousands):
Retail |  | Balance Beginning of Year |  |  | Amounts Charged to Revenue |  |  | Write-offs Against Reserves |  |  | Balance at Year End |
Return Reserves: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Year ended March 31, 2012 |  | $ | 2,313 |  |  | $ | 23,580 |  |  | $ | (24,234 | ) |  | $ | 1,659 |
Year ended April 2, 2011 |  |  | 1,413 |  |  |  | 14,323 |  |  |  | (13,423 | ) |  |  | 2,313 |
Year ended April 3, 2010 |  |  | 754 |  |  |  | 7,298 |  |  |  | (6,639 | ) |  |  | 1,413 |
Wholesale |  | Balance Beginning of Year |  |  | Amounts Charged to Revenue |  |  | Write-offs Against Reserves |  |  | Balance at Year End |
Total Sales Reserves: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Year ended March 31, 2012 |  | $ | 25,180 |  |  | $ | 114,577 |  |  | $ | (109,376 | ) |  | $ | 30,381 |
Year ended April 2, 2011 |  |  | 20,215 |  |  |  | 84,697 |  |  |  | (79,732 | ) |  |  | 25,180 |
Year ended April 3, 2010 |  |  | 19,481 |  |  |  | 68,955 |  |  |  | (68,221 | ) |  |  | 20,215 |
Fair Values of Forward Foreign Currency Exchange Contracts | The following table details the fair value of these contracts as of June 30, 2012, and March 31, 2012 (in thousands):
|  | June 30, 2012 |  |  | March 31, 2012 |
Prepaid expenses and other current assets |  | $ | 2,460 |  |  | $ | 1,318 |
Accrued expenses and other current liabilities |  | $ | (605 | ) |  | $ | (276 | )
| The following table details the fair value of these contracts as of March 31, 2012 and April 2, 2011 (in thousands):
|  | March 31, 2012 |  |  | April 2, 2011 |
Prepaid expenses and other current assets |  | $ | 1,318 |  |  |  |  | $ | 745 |
Accrued expenses and other current liabilities |  | $ | (276 | ) |  |  |  | $ | (2,293 | )
Components of Calculation of Basic Net Income Per Ordinary Share and Diluted Net Income Per Ordinary Share | The components of the calculation of basic net income per ordinary share and diluted net income per ordinary share are as follows (in thousands except share and per share data):
|  | Three Months Ended |
|  | June 30, 2012 |  |  | July 2, 2011 |
Numerator: |  |  |  |  |  |  |  |
Net Income |  | $ | 68,645 |  |  | $ | 24,115 |
Net income applicable to preference shareholders |  |  | — |  |  |  | 5,198 |
Net income available for ordinary shareholders |  | $ | 68,645 |  |  | $ | 18,917 |
Denominator: |  |  |  |  |  |  |  |
Basic weighted average ordinary shares |  |  | 192,790,454 |  |  |  | 140,554,377 |
Weighted average dilutive share equivalents: |  |  |  |  |  |  |  |
Share options and restricted shares/units |  |  | 6,600,673 |  |  |  | — |
Convertible preference shares |  |  | — |  |  |  | 38,622,891 |
Diluted weighted average ordinary shares |  |  | 199,391,127 |  |  |  | 179,177,268 |
Basic net income per ordinary share |  | $ | 0.36 |  |  | $ | 0.13 |
Diluted net income per ordinary share |  | $ | 0.34 |  |  | $ | 0.13 |
| The components of the calculation of basic net income per ordinary share and diluted net income per ordinary share are as follows (in thousands except share and per share data):
|  | Fiscal Years Ended |
|  | March 31, 2012 |  |  | April 2, 2011 |  |  | April 3, 2010 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net Income |  | $ | 147,364 |  |  | $ | 72,506 |  |  | $ | 39,248 |
Net income applicable to preference shareholders |  |  | 21,227 |  |  |  | 15,629 |  |  |  | 8,460 |
Net income available for ordinary shareholders |  |  | 126,137 |  |  |  | 56,877 |  |  |  | 30,788 |
Denominator: |  |  |  |  |  |  |  |  |  |  |  |
Basic weighted average ordinary shares |  |  | 158,258,126 |  |  |  | 140,554,377 |  |  |  | 140,554,377 |
Weighted average dilutive share equivalents: |  |  |  |  |  |  |  |  |  |  |  |
share options and restricted shares/units |  |  | 2,628,650 |  |  |  | — |  |  |  | — |
convertible preference shares |  |  | 28,412,421 |  |  |  | 38,622,891 |  |  |  | 38,622,891 |
Diluted weighted average ordinary shares |  |  | 189,299,197 |  |  |  | 179,177,268 |  |  |  | 179,177,268 |
Basic net income per ordinary share |  | $ | 0.80 |  |  | $ | 0.40 |  |  | $ | 0.22 |
Diluted net income per ordinary share |  | $ | 0.78 |  |  | $ | 0.40 |  |  | $ | 0.22 |

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