XML 32 R21.htm IDEA: XBRL DOCUMENT v3.8.0.1
Accumulated Other Comprehensive Income (Loss)
 9 Months Ended
Dec. 30, 2017
Equity [Abstract]  
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)
The following table details changes in the components of accumulated other comprehensive income (loss) (“AOCI”), net of taxes for the nine months ended December 30, 2017 and December 31, 2016, respectively (in millions):
 
Foreign Currency
Translation
(Losses) Gains
 
Net (Losses) Gains on
Derivatives (1)
 
Other Comprehensive (Loss) Income Attributable to MKHL
 
Other Comprehensive Income (Loss) Attributable to Noncontrolling Interest
 
Total Accumulated Other Comprehensive (Loss) Income
Balance at April 2, 2016
$
(77.7
)
 
$
(3.2
)
 
$
(80.9
)
 
$
0.1

 
$
(80.8
)
Other comprehensive (loss) income before reclassifications (2)
(20.4
)
 
11.1

 
(9.3
)
 
(0.4
)
 
(9.7
)
Less: amounts reclassified from AOCI to earnings (3)
—

 
(0.1
)
 
(0.1
)
 
—

 
(0.1
)
Other comprehensive (loss) income net of tax
(20.4
)
 
11.2

 
(9.2
)
 
(0.4
)
 
(9.6
)
Balance at December 31, 2016
$
(98.1
)
 
$
8.0

 
$
(90.1
)
 
$
(0.3
)
 
$
(90.4
)
 
 
 
 
 
 
 
 
 
 
Balance at April 1, 2017
$
(86.1
)
 
$
5.5

 
$
(80.6
)
 
$
(0.3
)
 
$
(80.9
)
Other comprehensive income (loss) before reclassifications (2)
78.6

 
(15.4
)
 
63.2

 
0.1

 
63.3

Less: amounts reclassified from AOCI to earnings (3)
—

 
1.0

 
1.0

 
—

 
1.0

Other comprehensive income (loss) net of tax
78.6

 
(16.4
)
 
62.2

 
0.1

 
62.3

Balance at December 30, 2017
$
(7.5
)
 
$
(10.9
)
 
$
(18.4
)
 
$
(0.2
)
 
$
(18.6
)
_________________________
(1) 
Accumulated other comprehensive income balance related to net gains on derivative financial instruments as of December 30, 2017 and April 1, 2017 is net of a tax benefit of $1.5 million and a tax provision $0.8 million, respectively. Other comprehensive income (loss) before reclassifications related to derivative financial instruments for the nine months ended December 30, 2017 and December 31, 2016 is net of a tax provisions of $2.3 million and $1.1 million, respectively. All other tax effects were not material for the periods presented.
(2) 
Foreign currency translation losses for the nine months ended December 30, 2017 and December 31, 2016 include net losses of $4.4 million and $3.1 million respectively on intra-entity transactions that are of a long-term investment nature. Foreign currency translation losses for the nine months ended December 30, 2017 are net of a $35.2 million translation gain relating to the newly acquired Jimmy Choo business.
(3) 
Reclassified amounts relate to the Company’s forward foreign currency exchange contracts for inventory purchases and are recorded within cost of goods sold in the Company’s consolidated statements of operations.