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v3.22.1

Current Assets and Current Liabilities (Tables) | 12 Months Ended
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Apr. 02, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Prepaid Expenses and Other Current Assets | Prepaid expenses and other current assets consist of the following (in millions):
| April 2, 2022 |  | March 27, 2021
Prepaid taxes | $ | 86 |  |  | $ | 133 |
Other accounts receivables | 17 |  |  | 13 |
Prepaid contracts | 15 |  |  | 11 |
Interest receivable related to net investment hedges | 13 |  |  | 12 |
Other | 61 |  |  | 36 |
Total prepaid expenses and other current assets | $ | 192 |  |  | $ | 205 |
Accrued Expenses and Other Current Liabilities | Accrued expenses and other current liabilities consist of the following (in millions):
| April 2, 2022 |  | March 27, 2021
Other taxes payable | $ | 61 |  |  | $ | 46 |
Return liabilities | 52 |  |  | 46 |
Accrued capital expenditures | 39 |  |  | 17 |
Accrued advertising and marketing | 21 |  |  | 11 |
Accrued rent (1) | 20 |  |  | 20 |
Gift and retail store credits | 17 |  |  | 12 |
Professional services | 15 |  |  | 13 |
Accrued litigation | 13 |  |  | 12 |
Accrued purchases and samples | 11 |  |  | 8 |
Accrued interest | 10 |  |  | 10 |
Charitable donations (2) | 10 |  |  | 20 |
Restructuring liability | 1 |  |  | 9 |
Other | 81 |  |  | 73 |
Total accrued expenses and other current liabilities | $ | 351 |  |  | $ | 297 |
(1)The accrued rent balance relates to variable lease payments. (2)The charitable donations balance relates to a $10 million unconditional pledge to The Versace Foundation as of April 2, 2022 and a $20 million unconditional pledge to The Capri Holdings Foundation for the Advancement of Diversity in Fashion as of March 27, 2021 which was funded during the second quarter ended September 25, 2021.

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