XML 45 R30.htm IDEA: XBRL DOCUMENT v3.7.0.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Apr. 01, 2017
Accounting Policies [Abstract]  
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 April 1, 2017, April 2, 2016, and March 28, 2015 (in millions):
 
Balance
Beginning
of Year
 
Amounts
Charged to
Revenue
 
Write-offs
Against
Reserves
 
Balance
at
Year End
Retail
 
 
 
 
 
 
 
Return Reserves:
 
 
 
 
 
 
 
Fiscal year ended April 1, 2017
$
4.7

 
$
102.4

 
$
(99.8
)
 
$
7.3

Fiscal year ended April 2, 2016
2.5

 
71.7

 
(69.5
)
 
4.7

Fiscal year ended March 28, 2015
2.3

 
57.0

 
(56.8
)
 
2.5

 
Balance
Beginning
of Year
 
Amounts
Charged to
Revenue
 
Write-offs
Against
Reserves
 
Balance
at
Year End
Wholesale
 
 
 
 
 
 
 
Total Sales Reserves:
 
 
 
 
 
 
 
Fiscal year ended April 1, 2017
$
110.9

 
$
271.1

 
$
(285.3
)
 
$
96.7

Fiscal year ended April 2, 2016
87.5

 
348.4

 
(325.0
)
 
110.9

Fiscal year ended March 28, 2015
65.9

 
281.0

 
(259.4
)
 
87.5
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 millions, except share and per share data):
 
Fiscal Years Ended
 
April 1,
2017
 
April 2,
2016
 
March 28,
2015
Numerator:
 
 
 
 
 
Net income attributable to MKHL
$
552.5

 
$
839.1

 
$
881.0

Denominator:
 
 
 
 
 
Basic weighted average shares
165,986,733

 
186,293,295

 
202,680,572

Weighted average dilutive share equivalents:
 
 
 
 
 
Share options and restricted shares/units, and performance restricted share units
2,137,080

 
2,760,994

 
3,185,197

Diluted weighted average shares
168,123,813

 
189,054,289

 
205,865,769

Basic net income per share
$
3.33

 
$
4.50

 
$
4.35

Diluted net income per share
$
3.29

 
$
4.44

 
$
4.28