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Shareholders' Equity | 6 Months Ended
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Sep. 25, 2021
Equity [Abstract] |
Shareholders' Equity | Shareholders’ Equity Share Repurchase Program During the first quarter of Fiscal 2022, the Company reinstated its $500 million share repurchase program, which was previously suspended during the first quarter of Fiscal 2021 in response to the impact of the COVID-19 pandemic and the provisions of the Second Amendment of the 2018 Credit Facility. During the six months ended September 25, 2021, the Company purchased 2,712,275 shares for a total cost of approximately $150 million including commissions, through open market transactions under the current plan. As of September 25, 2021, the remaining availability under the Company’s share repurchase program was $250 million. During the six months ended September 26, 2020, the Company did not purchase any shares through open market transactions under the current plan, as the Company's share repurchase plan was suspended at that time. 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 25, 2021 and September 26, 2020, the Company withheld 193,322 shares and 47,635 shares, respectively, with a fair value of $10 million and $1 million, respectively, in satisfaction of minimum tax withholding obligations relating to the vesting of restricted share awards. Accumulated Other Comprehensive Income The following table details changes in the components of accumulated other comprehensive income (“AOCI”), net of taxes, for the six months ended September 25, 2021 and September 26, 2020, respectively (in millions):
| Foreign Currency Adjustments (1) |  | Net (Losses) Gains on Derivatives (2) |  | Other Comprehensive Income Attributable to Capri |  |  |  |
Balance at March 27, 2021 | $ | 57 |  |  | $ | (1) |  |  | $ | 56 |  |  |  |  |
Other comprehensive income before reclassifications | 114 |  |  | 2 |  |  | 116 |  |  |  |  |
Less: amounts reclassified from AOCI to earnings | — |  |  | (2) |  |  | (2) |  |  |  |  |
Other comprehensive income, net of tax | 114 |  |  | 4 |  |  | 118 |  |  |  |  |
Balance at September 25, 2021 | $ | 171 |  |  | $ | 3 |  |  | $ | 174 |  |  |  |  |
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 adjustments for the six months ended September 25, 2021 primarily include a $132 million gain, net of taxes of $40 million, relating to the Company's net investment hedges, and a net $23 million translation loss. Foreign currency translation adjustments for the six months ended September 26, 2020 primarily include a net $88 million translation gain partially offset by a $35 million loss, net of taxes of $7 million, relating to the Company's net investment hedges. (2)Reclassified amounts primarily 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=123367319&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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