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Intangible Assets and Goodwill (Tables) | 12 Months Ended
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Mar. 27, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Carrying Values of Finite-Lived Intangible Assets | The following table details the carrying values of the Company’s intangible assets other than goodwill (in millions):
| March 27, 2021 |  | March 28, 2020
| Gross Carrying Amount |  | Accumulated Amortization |  | Net |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Definite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Reacquired rights | $ | 400 |  |  | $ | 77 |  |  | $ | 323 |  |  | $ | 400 |  |  | $ | 61 |  |  | $ | 339 |
Trademarks | 23 |  |  | 21 |  |  | 2 |  |  | 23 |  |  | 20 |  |  | 3 |
Customer relationships | 437 |  |  | 86 |  |  | 351 |  |  | 404 |  |  | 51 |  |  | 353 |
| 860 |  |  | 184 |  |  | 676 |  |  | 827 |  |  | 132 |  |  | 695 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Jimmy Choo brand (1) | 587 |  |  | 249 |  |  | 338 |  |  | 547 |  |  | 180 |  |  | 367 |
Versace brand (2) | 978 |  |  | — |  |  | 978 |  |  | 924 |  |  | — |  |  | 924 |
| 1,565 |  |  | 249 |  |  | 1,316 |  |  | 1,471 |  |  | 180 |  |  | 1,291 |
Total intangible assets, excluding goodwill | $ | 2,425 |  |  | $ | 433 |  |  | $ | 1,992 |  |  | $ | 2,298 |  |  | $ | 312 |  |  | $ | 1,986 |
(1)The year-over-year change in carrying value reflects an impairment charge of $69 million and foreign currency translation of $40 million for the fiscal year ended March 27, 2021. The Company recorded an impairment charge of $180 million for the fiscal year ended March 28, 2020. (2)The year-over-year change in value relates to foreign currency translation.
Carrying Values of Indefinite-Lived Intangible Assets | The following table details the carrying values of the Company’s intangible assets other than goodwill (in millions):
| March 27, 2021 |  | March 28, 2020
| Gross Carrying Amount |  | Accumulated Amortization |  | Net |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Definite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Reacquired rights | $ | 400 |  |  | $ | 77 |  |  | $ | 323 |  |  | $ | 400 |  |  | $ | 61 |  |  | $ | 339 |
Trademarks | 23 |  |  | 21 |  |  | 2 |  |  | 23 |  |  | 20 |  |  | 3 |
Customer relationships | 437 |  |  | 86 |  |  | 351 |  |  | 404 |  |  | 51 |  |  | 353 |
| 860 |  |  | 184 |  |  | 676 |  |  | 827 |  |  | 132 |  |  | 695 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Jimmy Choo brand (1) | 587 |  |  | 249 |  |  | 338 |  |  | 547 |  |  | 180 |  |  | 367 |
Versace brand (2) | 978 |  |  | — |  |  | 978 |  |  | 924 |  |  | — |  |  | 924 |
| 1,565 |  |  | 249 |  |  | 1,316 |  |  | 1,471 |  |  | 180 |  |  | 1,291 |
Total intangible assets, excluding goodwill | $ | 2,425 |  |  | $ | 433 |  |  | $ | 1,992 |  |  | $ | 2,298 |  |  | $ | 312 |  |  | $ | 1,986 |
(1)The year-over-year change in carrying value reflects an impairment charge of $69 million and foreign currency translation of $40 million for the fiscal year ended March 27, 2021. The Company recorded an impairment charge of $180 million for the fiscal year ended March 28, 2020. (2)The year-over-year change in value relates to foreign currency translation.
Estimated Amortization Expense | Estimated amortization expense for each of the next five years is as follows (in millions):
Fiscal 2022 | $ | 47 |
Fiscal 2023 | 47 |
Fiscal 2024 | 47 |
Fiscal 2025 | 47 |
Fiscal 2026 | 47 |
Fiscal 2027 and thereafter | 441 |
| $ | 676 |
Changes in Goodwill for Reportable Segments | The following table details the changes in goodwill for each of the Company’s reportable segments (in millions):
| Versace |  | Jimmy Choo |  | Michael Kors |  | Total
Balance at March 30, 2019 | 861 |  |  | 678 |  |  | 120 |  |  | $ | 1,659 |
Acquisition | — |  |  | 11 |  |  | — |  |  | 11 |
Measurement period adjustment (1) | 26 |  |  | — |  |  | — |  |  | 26 |
Impairment charges (2) | — |  |  | (171) |  |  | — |  |  | (171) |
Foreign currency translation | (6) |  |  | (31) |  |  | — |  |  | (37) |
Balance at March 28, 2020 | 881 |  |  | 487 |  |  | 120 |  |  | 1,488 |
Impairment charges (2) | — |  |  | (94) |  |  | — |  |  | (94) |
Foreign currency translation | 52 |  |  | 52 |  |  | — |  |  | 104 |
Balance at March 27, 2021 | $ | 933 |  |  | $ | 445 |  |  | $ | 120 |  |  | $ | 1,498 |
(1)See Note 5 for additional information. (2)The Company recorded impairment charges during Fiscal 2021 of $94 million related to the Jimmy Choo wholesale and licensing reporting units, and $171 million during Fiscal 2020 related to the Jimmy Choo retail and licensing reporting units.

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