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Intangible Assets and Goodwill (Tables) | 12 Months Ended
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Mar. 30, 2024
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):
| March 30, 2024 |  | April 1, 2023
| Gross Carrying Amount |  | Accumulated Amortization/Impairment |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization/Impairment |  | Net Carrying Amount
Definite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Reacquired rights | $ | 400 |  |  | $ | 126 |  |  | $ | 274 |  |  | $ | 400 |  |  | $ | 109 |  |  | $ | 291 |
Trademarks | 23 |  |  | 23 |  |  | — |  |  | 23 |  |  | 23 |  |  | — |
Customer relationships | 401 |  |  | 165 |  |  | 236 |  |  | 397 |  |  | 136 |  |  | 261 |
Total definite-lived intangible assets | 824 |  |  | 314 |  |  | 510 |  |  | 820 |  |  | 268 |  |  | 552 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Jimmy Choo brand (1) | 558 |  |  | 343 |  |  | 215 |  |  | 550 |  |  | 273 |  |  | 277 |
Versace brand (2) | 896 |  |  | 227 |  |  | 669 |  |  | 899 |  |  | — |  |  | 899 |
Total indefinite-lived intangible assets | 1,454 |  |  | 570 |  |  | 884 |  |  | 1,449 |  |  | 273 |  |  | 1,176 |
Total intangible assets, excluding goodwill | $ | 2,278 |  |  | $ | 884 |  |  | $ | 1,394 |  |  | $ | 2,269 |  |  | $ | 541 |  |  | $ | 1,728 |
(1)The year-over-year change in net carrying amount reflects an impairment charge of $70 million and foreign currency translation of $8 million for the fiscal year ended March 30, 2024. For the fiscal year ended April 1, 2023, the Company recorded impairment charges of $24 million. (2)The year-over-year change in net carrying amount reflects an impairment charge of $227 million and foreign currency translation of $3 million for the fiscal year ended March 30, 2024. There were no impairment charges for the fiscal year ended April 1, 2023.
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):
| March 30, 2024 |  | April 1, 2023
| Gross Carrying Amount |  | Accumulated Amortization/Impairment |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization/Impairment |  | Net Carrying Amount
Definite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Reacquired rights | $ | 400 |  |  | $ | 126 |  |  | $ | 274 |  |  | $ | 400 |  |  | $ | 109 |  |  | $ | 291 |
Trademarks | 23 |  |  | 23 |  |  | — |  |  | 23 |  |  | 23 |  |  | — |
Customer relationships | 401 |  |  | 165 |  |  | 236 |  |  | 397 |  |  | 136 |  |  | 261 |
Total definite-lived intangible assets | 824 |  |  | 314 |  |  | 510 |  |  | 820 |  |  | 268 |  |  | 552 |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |  |  |
Jimmy Choo brand (1) | 558 |  |  | 343 |  |  | 215 |  |  | 550 |  |  | 273 |  |  | 277 |
Versace brand (2) | 896 |  |  | 227 |  |  | 669 |  |  | 899 |  |  | — |  |  | 899 |
Total indefinite-lived intangible assets | 1,454 |  |  | 570 |  |  | 884 |  |  | 1,449 |  |  | 273 |  |  | 1,176 |
Total intangible assets, excluding goodwill | $ | 2,278 |  |  | $ | 884 |  |  | $ | 1,394 |  |  | $ | 2,269 |  |  | $ | 541 |  |  | $ | 1,728 |
(1)The year-over-year change in net carrying amount reflects an impairment charge of $70 million and foreign currency translation of $8 million for the fiscal year ended March 30, 2024. For the fiscal year ended April 1, 2023, the Company recorded impairment charges of $24 million. (2)The year-over-year change in net carrying amount reflects an impairment charge of $227 million and foreign currency translation of $3 million for the fiscal year ended March 30, 2024. There were no impairment charges for the fiscal year ended April 1, 2023.
Estimated Amortization Expense | Estimated amortization expense for each of the next five years is as follows (in millions):
Fiscal 2025 | $ | 44 |
Fiscal 2026 | 44 |
Fiscal 2027 | 44 |
Fiscal 2028 | 44 |
Fiscal 2029 | 43 |
Fiscal 2030 and thereafter | 291 |
Total | $ | 510 |
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 April 2, 2022 | $ | 874 |  |  | $ | 424 |  |  | $ | 120 |  |  | $ | 1,418 |
Impairment charges (1) | — |  |  | (82) |  |  | — |  |  | (82) |
Foreign currency translation | (17) |  |  | (26) |  |  | — |  |  | (43) |
Balance at April 1, 2023 | 857 |  |  | 316 |  |  | 120 |  |  | 1,293 |
Impairment charges(1) | — |  |  | (192) |  |  | — |  |  | (192) |
Foreign currency translation | (4) |  |  | 9 |  |  | — |  |  | 5 |
Balance at March 30, 2024 | $ | 853 |  |  | $ | 133 |  |  | $ | 120 |  |  | $ | 1,106 |
(1)The Company recorded impairment charges of $192 million during Fiscal 2024 related to the Jimmy Choo retail and wholesale reporting units. As of March 30, 2024, the Company had accumulated impairment charges of $539 million related to its Jimmy Choo reporting units.

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