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v3.22.2

Current Assets and Current Liabilities | 3 Months Ended
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Jul. 02, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Current Assets and Current Liabilities | Current Assets and Current Liabilities Prepaid expenses and other current assets consist of the following (in millions):
| July 2, 2022 |  | April 2, 2022
Prepaid taxes | $ | 79 |  |  | $ | 86 |
Prepaid contracts | 17 |  |  | 15 |
Prepaid insurance | 12 |  |  | 2 |
Interest receivable related to net investment hedges | 11 |  |  | 13 |
Other accounts receivables | 9 |  |  | 17 |
Other | 73 |  |  | 59 |
Total prepaid expenses and other current assets | $ | 201 |  |  | $ | 192 |
Accrued expenses and other current liabilities consist of the following (in millions):
| July 2, 2022 |  | April 2, 2022
Other taxes payable | $ | 71 |  |  | $ | 61 |
Return liabilities | 56 |  |  | 52 |
Accrued capital expenditures | 43 |  |  | 39 |
Accrued advertising and marketing | 22 |  |  | 21 |
Accrued rent (1) | 21 |  |  | 20 |
Gift cards and retail store credits | 15 |  |  | 17 |
Professional services | 14 |  |  | 15 |
Accrued litigation | 12 |  |  | 13 |
Accrued purchases and samples | 12 |  |  | 11 |
Charitable donations (2) | 10 |  |  | 10 |
Accrued interest | 3 |  |  | 10 |
Other | 100 |  |  | 82 |
Total accrued expenses and other current liabilities | $ | 379 |  |  | $ | 351 |
(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 July 2, 2022 and April 2, 2022.

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