XML 46 R29.htm IDEA: XBRL DOCUMENT v3.22.1

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Apr. 02, 2022

Accounting Policies [Abstract]

Activity and Balances of Sales Reserves

The following table details the activity and balances of the Company’s sales reserves for the fiscal years ended April 2, 2022, March 27, 2021, and March 28, 2020 (in millions):

			Balance Beginning of Year						Amounts Charged to Revenue						Write-offs Against Reserves						Balance at Year End
Total Sales Reserves:
Fiscal Year Ended April 2, 2022			$	98					$	333					$	(339)					$	92
Fiscal Year Ended March 27, 2021			166						313						(381)						98
Fiscal Year Ended March 28, 2020			127						497						(458)						166

Schedule of Cash and Cash Equivalents

A reconciliation of cash, cash equivalents and restricted cash as of April 2, 2022 and March 27, 2021 from the consolidated balance sheets to the consolidated statements of cash flows is as follows:

			Fiscal Years Ended
			April 2, 2022						March 27, 2021
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents			$	169					$	232
Restricted cash included within prepaid expenses and other current assets			3						2
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows			$	172					$	234

Restrictions on Cash and Cash Equivalents

A reconciliation of cash, cash equivalents and restricted cash as of April 2, 2022 and March 27, 2021 from the consolidated balance sheets to the consolidated statements of cash flows is as follows:

			Fiscal Years Ended
			April 2, 2022						March 27, 2021
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents			$	169					$	232
Restricted cash included within prepaid expenses and other current assets			3						2
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows			$	172					$	234

Components of Calculation of Basic Net Income Per Ordinary Share and Diluted Net Income Per Ordinary Share

The components of the calculation of basic net income (loss) per ordinary share and diluted net income (loss) per ordinary share are as follows (in millions, except share and per share data):

			Fiscal Years Ended
			April 2, 2022						March 27, 2021						March 28, 2020
Numerator:
Net income (loss) attributable to Capri			$	822					$	(62)					$	(223)
Denominator:
Basic weighted average shares			149,724,675						150,453,568						150,714,598
Weighted average dilutive share equivalents:
Share options and restricted stock units, and performance restricted stock units			2,773,232						—						—
Diluted weighted average shares			152,497,907						150,453,568						150,714,598
Basic net income (loss) per share (1)			$	5.49					$	(0.41)					$	(1.48)
Diluted net income (loss) per share (1)			$	5.39					$	(0.41)					$	(1.48)

(1)Basic and diluted net income (loss) per share are calculated using unrounded numbers.

X

- References

No definition available.

+ Details

Name:	us-gaap_AccountingPoliciesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of allowance for credit loss on accounts receivable.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447

+ Details

Name:	us-gaap_AccountsReceivableAllowanceForCreditLossTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of cash and cash equivalents.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfCashAndCashEquivalentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257

+ Details

Name:	us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of cash and cash equivalents restricted as to withdrawal or usage.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03(1)(a))
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 230
-SubTopic 10
-Section 50
-Paragraph 8
-URI http://asc.fasb.org/extlink&oid=123431023&loc=SL98516268-108586

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-03(a)(2))
-URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02(1))
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

+ Details

Name:	us-gaap_ScheduleOfRestrictedCashAndCashEquivalentsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration