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Shareholders' Equity (Tables) | 3 Months Ended
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Jun. 29, 2024
Equity [Abstract] |
Schedule of Changes in Components of Accumulated Other Comprehensive Income (Loss), Net of Taxes | The following table details changes in the components of accumulated other comprehensive income (“AOCI”), net of taxes, for the three months ended June 29, 2024 and July 1, 2023, respectively (in millions):
| Foreign Currency Adjustments (1) |  | Net Gain on Derivatives (2) |  | Other Comprehensive Income Attributable to Capri |  |  |  |
Balance at March 30, 2024 | $ | 161 |  |  | $ | — |  |  | $ | 161 |  |  |  |  |
Other comprehensive loss before reclassifications | (29) |  |  | — |  |  | (29) |  |  |  |  |
Less: amounts reclassified from AOCI to earnings | — |  |  | — |  |  | — |  |  |  |  |
Other comprehensive loss, net of tax | (29) |  |  | — |  |  | (29) |  |  |  |  |
Balance at June 29, 2024 | $ | 132 |  |  | $ | — |  |  | $ | 132 |  |  |  |  |
Balance at April 1, 2023 | $ | 143 |  |  | $ | 4 |  |  | $ | 147 |  |  |  |  |
Other comprehensive loss before reclassifications | (7) |  |  | — |  |  | (7) |  |  |  |  |
Less: amounts reclassified from AOCI to earnings | — |  |  | 3 |  |  | 3 |  |  |  |  |
Other comprehensive loss, net of tax | (7) |  |  | (3) |  |  | (10) |  |  |  |  |
Balance at July 1, 2023 | $ | 136 |  |  | $ | 1 |  |  | $ | 137 |  |  |  |  |
(1)Foreign currency translation adjustments for the three months ended June 29, 2024 primarily include a $19 million loss, net of taxes of $7 million, relating to the Company’s net investment hedges, and a net $10 million translation loss. Foreign currency translation adjustments for the three months ended July 1, 2023 primarily include a $58 million loss, net of taxes of $21 million, relating to the Company’s net investment and fair value hedges, partially offset by a net $51 million translation gain. (2)Reclassified amounts primarily relate to the Company’s forward foreign currency exchange contracts for inventory purchases and are recorded within cost of goods sold in the Company’s consolidated statements of operations and comprehensive (loss) income. All tax effects were not material for the periods presented.

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- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482790/220-10-45-14A Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481674/830-30-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481694/830-30-45-20 + Details
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