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Shareholders' Equity | 6 Months Ended
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Sep. 26, 2020
Equity [Abstract] |
Shareholders' Equity | Shareholders’ Equity Share Repurchase Program During the first quarter of Fiscal 2021, the Company suspended its $500 million share-repurchase program in response to the continued impact of the COVID-19 pandemic. During the six months ended September 26, 2020, the Company did not purchase any shares through open market transactions under the current plan. As of September 26, 2020, the remaining availability under the Company’s share repurchase program was $400 million. During the six months ended September 28, 2019, the Company did not purchase any shares through open market transactions under its previous $1.0 billion share-repurchase program, which expired on May 25, 2019. 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 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 six month periods ended September 26, 2020 and September 28, 2019, the Company withheld 47,635 shares and 63,223 shares, respectively, with a fair value of $1 million and $2 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 the six months ended September 26, 2020 and September 28, 2019, respectively (in millions):
| Foreign Currency Translation (Losses) Gains (1) |  | Net Gains (Losses) on Derivatives (2) |  | Other Comprehensive Income (Loss) Attributable to Capri |  |  |  |
Balance at March 30, 2019 | $ | (73) |  |  | $ | 7 |  |  | $ | (66) |  |  |  |  |
Other comprehensive income (loss) before reclassifications | (38) |  |  | 5 |  |  | (33) |  |  |  |  |
Less: amounts reclassified from AOCI to earnings | — |  |  | 4 |  |  | 4 |  |  |  |  |
Other comprehensive income (loss), net of tax | (38) |  |  | 1 |  |  | (37) |  |  |  |  |
Balance at September 28, 2019 | $ | (111) |  |  | $ | 8 |  |  | $ | (103) |  |  |  |  |
Balance at March 28, 2020 | $ | 72 |  |  | $ | 3 |  |  | $ | 75 |  |  |  |  |
Other comprehensive income before reclassifications | 53 |  |  | — |  |  | 53 |  |  |  |  |
Less: amounts reclassified from AOCI to earnings | — |  |  | 3 |  |  | 3 |  |  |  |  |
Other comprehensive income (loss), net of tax | 53 |  |  | (3) |  |  | 50 |  |  |  |  |
Balance at September 26, 2020 | $ | 125 |  |  | $ | — |  |  | $ | 125 |  |  |  |  |
(1)Foreign currency translation gains and losses for the six months ended September 26, 2020 include net loss of $2 million on intra-entity transactions that are of a long-term investment nature. Foreign currency translation gains and losses for the six months ended September 28, 2019 include net gains of $6 million on intra-entity transactions that are of a long-term investment nature, a $42 million translation loss relating to the Versace business and an $86 million gain, net of taxes of $18 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 (loss). All tax effects were not material for the periods presented.

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- Definition The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -URI http://asc.fasb.org/topic&trid=2134417 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(21)) -URI http://asc.fasb.org/extlink&oid=120395209&loc=SL114868664-224227 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(23)) -URI http://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 220 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(19)) -URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263 + Details
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