Summary of Significant Accounting Policies (Tables)

9 Months Ended

Dec. 29, 2018

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):



	Three Months Ended				Nine Months Ended
	December 29, 2018		December 30, 2017		December 29, 2018		December 30, 2017
Numerator:
Net income attributable to Capri	$	199.6	$	219.4	$	523.6	$	547.8
Denominator:
Basic weighted average shares	149,183,049		152,047,963		149,420,087		152,772,067
Weighted average dilutive share equivalents:
Share options and restricted shares/units, and performance restricted share units	1,085,375		2,575,376		2,037,834		2,448,917
Diluted weighted average shares	150,268,424		154,623,339		151,457,921		155,220,984

Basic net income per share	$	1.34	$	1.44	$	3.50	$	3.59
Diluted net income per share	$	1.33	$	1.42	$	3.46	$	3.53

Schedule of Impact of Adoption of New Accounting Pronouncements

The below table details the components of the cumulative adjustment recorded on April 1, 2018 (in millions):



	March 31, 2018 As Reported under ASC 605		ASC 606 Adjustments				April 1, 2018 As Reported Under ASC 606
Receivables, net	$	290.5	$	3.8		⁽¹⁾	$	294.3
Accrued expenses and other current liabilities	295.6		(4.6		)	⁽²⁾	291.0
Deferred tax liabilities	186.3		1.7			⁽³⁾	188.0
Retained earnings	4,152.0		6.7				4,158.7


⁽¹⁾	Includes a $3.5 million adjustment related to product licensing revenue, which was previously recorded on a one-month lag and $0.3 million of guaranteed advertising minimums recognized by product licensees on a straight-line basis over the contract year.


⁽²⁾	Relates to recognition of breakage revenue associated with gift card liabilities not subject to escheatment.


⁽³⁾	Relates to income tax effect of the above adjustments.