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Property and Equipment, net

3 Months Ended

Jun. 30, 2018

Property, Plant and Equipment [Abstract]

Property and Equipment, net

Property and Equipment, Net

Property and equipment, net, consists of (in millions):

	June 30, 2018				March 31, 2018
Leasehold improvements	$	546.6			$	551.0
Furniture and fixtures	266.4				270.9
In-store shops	265.4				273.9
Computer equipment and software	264.1				266.3
Equipment	117.3				116.7
Building	50.4				51.6
Land	15.4				16.2
	1,525.6				1,546.6
Less: accumulated depreciation and amortization	(1,007.6		)		(1,001.6		)
	518.0				545.0
Construction-in-progress	42.7				38.2
	$	560.7			$	583.2

Depreciation and amortization of property and equipment for the three months ended June 30, 2018 and July 1, 2017 was $47.4 million and $42.5 million, respectively. During the three months ended June 30, 2018, the Company recorded fixed asset impairment charges of $3.7 million, which were related to underperforming Michael Kors full-price retail store locations, some of which will be closed as part of the Company’s previously announced Retail Fleet Optimization Plan, as defined in Note 9.

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- References

No definition available.

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- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-URI http://asc.fasb.org/topic&trid=2155823

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