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Shareholders' Equity
 3 Months Ended
Jun. 29, 2019
Equity [Abstract]  
Shareholders' Equity Shareholders’ Equity
Share Repurchase Program
During the three months ended June 30, 2018, the Company repurchased 1,659,941 shares at a cost of $100 million under its $1.0 billion through open market transactions under its share-repurchase program, which expired on May 25, 2019.
The Company also has in place a “withhold to cover” repurchase program, which allows the Company to withhold ordinary shares from certain executive officers and directors to satisfy minimum tax withholding obligations relating to the vesting of their restricted share awards. During the three month periods ended June 29, 2019 and June 30, 2018, the Company withheld 58,304 shares and 88,325 shares, respectively, with a fair value of $2 million and $6 million, respectively, in satisfaction of minimum tax withholding obligations relating to the vesting of restricted share awards.
On August 1, 2019, the Company's Board of Directors authorized a new $500 million share repurchase program, which which expires August 1, 2021. Share repurchases maybe made in open market or privately negotiated transactions, subject to market conditions, applicable legal requirements, trading under the Company’s insider trading policy and other relevant factors. The program may be suspended or discontinued at any time.
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 three months ended June 29, 2019 and June 30, 2018, respectively (in millions):
 
Foreign
Currency
Translation
Gains (Losses) (1)
 
Net (Losses) Gains on
Derivatives (2)
 
Other Comprehensive Income (Loss) Attributable to Capri
Balance at March 31, 2018
$
61

 
$
(10
)
 
$
51

Other comprehensive (loss) income before reclassifications
(103
)
 
8

 
(95
)
Less: amounts reclassified from AOCI to earnings 
—

 
(4
)
 
(4
)
Other comprehensive (loss) income, net of tax
(103
)
 
12

 
(91
)
Balance at June 30, 2018
$
(42
)
 
$
2

 
$
(40
)
 
 
 
 
 
 
Balance at March 30, 2019
$
(73
)
 
$
7

 
$
(66
)
Other comprehensive (loss) income before reclassifications
(25
)
 
—

 
(25
)
Less: amounts reclassified from AOCI to earnings
—

 
2

 
2

Other comprehensive (loss) income, net of tax
(25
)
 
(2
)
 
(27
)
Balance at June 29, 2019
$
(98
)
 
$
5

 
$
(93
)
 
 
 
 
 
(1) 
Foreign currency translation gains and losses for the three months ended June 29, 2019 and June 30, 2018 include net gains of $3 million and net gains of $5 million, respectively, on intra-entity transactions that are of a long-term investment nature. Foreign currency translation losses for the three months ended June 29, 2019 include a $28 million translation gain relating to the Versace business and a $21 million loss, net of taxes of $4 million relating to the Company’s net investment hedges. Foreign currency translation losses for the three months ended June 30, 2018 include a $4 million gain relating to the Company’s net investment hedges.
(2) 
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 and comprehensive income. All tax effects were not material for the periods presented.