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Intangible Assets and Goodwill (Tables) | 12 Months Ended
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Apr. 02, 2022
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):
| April 2, 2022 |  | March 27, 2021
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carry Amount
Definite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Reacquired rights | $ | 400 |  |  | $ | 94 |  |  | $ | 306 |  |  | $ | 400 |  |  | $ | 77 |  |  | $ | 323 |
Trademarks | 23 |  |  | 22 |  |  | 1 |  |  | 23 |  |  | 21 |  |  | 2 |
Customer relationships | 414 |  |  | 112 |  |  | 302 |  |  | 437 |  |  | 86 |  |  | 351 |
Total definite-lived intangible assets | 837 |  |  | 228 |  |  | 609 |  |  | 860 |  |  | 184 |  |  | 676 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Jimmy Choo brand (1) | 570 |  |  | 249 |  |  | 321 |  |  | 587 |  |  | 249 |  |  | 338 |
Versace brand (1) | 917 |  |  | — |  |  | 917 |  |  | 978 |  |  | — |  |  | 978 |
Total indefinite-lived intangible assets | 1,487 |  |  | 249 |  |  | 1,238 |  |  | 1,565 |  |  | 249 |  |  | 1,316 |
Total intangible assets, excluding goodwill | $ | 2,324 |  |  | $ | 477 |  |  | $ | 1,847 |  |  | $ | 2,425 |  |  | $ | 433 |  |  | $ | 1,992 |
(1)The year-over-year change in net carrying amount reflects foreign currency translation for the fiscal year ended April 2, 2022. As of April 2, 2022, the Company had accumulated impairment charges of $249 million related to the Jimmy Choo brand intangible assets.
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):
| April 2, 2022 |  | March 27, 2021
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carry Amount
Definite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Reacquired rights | $ | 400 |  |  | $ | 94 |  |  | $ | 306 |  |  | $ | 400 |  |  | $ | 77 |  |  | $ | 323 |
Trademarks | 23 |  |  | 22 |  |  | 1 |  |  | 23 |  |  | 21 |  |  | 2 |
Customer relationships | 414 |  |  | 112 |  |  | 302 |  |  | 437 |  |  | 86 |  |  | 351 |
Total definite-lived intangible assets | 837 |  |  | 228 |  |  | 609 |  |  | 860 |  |  | 184 |  |  | 676 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Jimmy Choo brand (1) | 570 |  |  | 249 |  |  | 321 |  |  | 587 |  |  | 249 |  |  | 338 |
Versace brand (1) | 917 |  |  | — |  |  | 917 |  |  | 978 |  |  | — |  |  | 978 |
Total indefinite-lived intangible assets | 1,487 |  |  | 249 |  |  | 1,238 |  |  | 1,565 |  |  | 249 |  |  | 1,316 |
Total intangible assets, excluding goodwill | $ | 2,324 |  |  | $ | 477 |  |  | $ | 1,847 |  |  | $ | 2,425 |  |  | $ | 433 |  |  | $ | 1,992 |
(1)The year-over-year change in net carrying amount reflects foreign currency translation for the fiscal year ended April 2, 2022. As of April 2, 2022, the Company had accumulated impairment charges of $249 million related to the Jimmy Choo brand intangible assets.
Estimated Amortization Expense | Estimated amortization expense for each of the next five years is as follows (in millions):
Fiscal 2023 | $ | 45 |
Fiscal 2024 | 45 |
Fiscal 2025 | 45 |
Fiscal 2026 | 45 |
Fiscal 2027 | 45 |
Fiscal 2028 and thereafter | 384 |
Total | $ | 609 |
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 28, 2020 | 881 |  |  | 487 |  |  | 120 |  |  | $ | 1,488 |
Impairment charges (1) | — |  |  | (94) |  |  | — |  |  | (94) |
Foreign currency translation | 52 |  |  | 52 |  |  | — |  |  | 104 |
Balance at March 27, 2021 | 933 |  |  | 445 |  |  | 120 |  |  | 1,498 |
Foreign currency translation | (59) |  |  | (21) |  |  | — |  |  | (80) |
Balance at April 2, 2022 | $ | 874 |  |  | $ | 424 |  |  | $ | 120 |  |  | $ | 1,418 |
(1)The Company recorded impairment charges of $94 million during Fiscal 2021 related to the Jimmy Choo wholesale and licensing reporting units.

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