XML 38 R22.htm IDEA: XBRL DOCUMENT
v3.20.2

Shareholders' Equity | 12 Months Ended
--- | ---
Mar. 28, 2020
Stockholders' Equity Note [Abstract] |
Shareholders' Equity | Shareholders’ Equity Share Repurchase Program During Fiscal 2020, the Company repurchased 2,711,807 shares through open market transactions at a cost of $100 million under its new $500 million share-repurchase program, which was authorized by the Company’s Board of Directors on August 1, 2019 and which expires on August 1, 2021. During Fiscal 2019, the Company repurchased 3,718,237 shares through open market transactions at a cost of $200 million under its previous $1.0 billion share-repurchase program, which expired on May 25, 2019. As of March 28, 2020, the remaining availability under the Company’s share repurchase program was $400 million. Share repurchases may be made in open market or privately negotiated transactions, subject to market conditions, applicable legal requirements, trading transactions under the Company’s insider trading policy and other relevant factors. The program may be suspended or discontinued at any time. The share repurchase program was suspended on April 6, 2020 in response to the continued global health and economic impact of the COVID-19 pandemic. 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 Fiscal 2020 and Fiscal 2019, the Company withheld 63,958 shares and 107,712 shares, respectively, with a fair value of $2 million and $7 million, respectively, in satisfaction of minimum tax withholding obligations relating to the vesting of restricted share awards. Accumulated Other Comprehensive Income (Loss) The following table details changes in the components of accumulated other comprehensive income (loss) ("AOCI"), net of taxes for Fiscal 2020, Fiscal 2019 and Fiscal 2018 (in millions):
| Foreign Currency Translation (Losses) Gains (1) |  | Net Gains (Losses) on Derivatives (2) |  | Other Comprehensive (Loss)/Gain Attributable to Capri |  |  |  |
Balance at April 1, 2017 | $ | (87) |  |  | $ | 6 |  |  | $ | (81) |  |  |  |  |
Other comprehensive income (loss) before reclassifications | 148 |  |  | (19) |  |  | 129 |  |  |  |  |
Less: amounts reclassified from AOCI to earnings | — |  |  | (3) |  |  | (3) |  |  |  |  |
Other comprehensive income (loss), net of tax | 148 |  |  | (16) |  |  | 132 |  |  |  |  |
Balance at March 31, 2018 | 61 |  |  | (10) |  |  | 51 |  |  |  |  |
Other comprehensive (loss) income before reclassifications | (134) |  |  | 14 |  |  | (120) |  |  |  |  |
Less: amounts reclassified from AOCI to earnings | — |  |  | (3) |  |  | (3) |  |  |  |  |
Other comprehensive (loss) income, net of tax | (134) |  |  | 17 |  |  | (117) |  |  |  |  |
Balance at March 30, 2019 | (73) |  |  | 7 |  |  | (66) |  |  |  |  |
Other comprehensive income before reclassifications | 145 |  |  | 5 |  |  | 150 |  |  |  |  |
Less: amounts reclassified from AOCI to earnings | — |  |  | 9 |  |  | 9 |  |  |  |  |
Other comprehensive income (loss), net of tax | 145 |  |  | (4) |  |  | 141 |  |  |  |  |
Balance at March 28, 2020 | $ | 72 |  |  | $ | 3 |  |  | $ | 75 |  |  |  |  |
(1)Foreign currency translation gains and losses include net gains of $6 million for both Fiscal 2020 and Fiscal 2019, on intra-entity transactions that are of a long-term investment nature. Foreign currency translation losses for Fiscal 2020 include a $60 million translation loss relating to the Jimmy Choo business, a $10 million translation loss relating to the Versace business and a $219 million gain, net of taxes of $45 million relating to the Company’s net investment hedges. Foreign currency translation losses for Fiscal 2019 includes an $105 million translation loss relating to the Jimmy Choo business, a $33 million translation loss relating to the Versace business and a $39 million gain, net of taxes of $8 million 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. Other comprehensive income (loss) before reclassifications related to derivative instruments for Fiscal 2020 was immaterial. Other comprehensive income (loss) before reclassifications related to derivative instruments for Fiscal 2019 and Fiscal 2018 is net of a tax benefits of $2 million and $3 million, respectively. All tax effects were not material for the periods presented.

X
- References No definition available. + Details
Name: | us-gaap_StockholdersEquityNoteAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -URI http://asc.fasb.org/topic&trid=2208762 + Details
Name: | us-gaap_StockholdersEquityNoteDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration