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Intangible Assets and Goodwill | 3 Months Ended
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Jun. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets and Goodwill | Intangible Assets and Goodwill The following table details the carrying values of the Company’s intangible assets and goodwill (in millions):
| June 29, 2024 |  | March 30, 2024
Definite-lived intangible assets: |  |  |
Reacquired rights | $ | 400 |  |  | $ | 400 |
Trademarks | 23 |  |  | 23 |
Customer relationships | 400 |  |  | 401 |
Gross definite-lived intangible assets | 823 |  |  | 824 |
Less: accumulated amortization | (324) |  |  | (314) |
Net definite-lived intangible assets | 499 |  |  | 510 |
Indefinite-lived intangible assets: |  |  |
Jimmy Choo brand (1) | 215 |  |  | 215 |
Versace brand (2) | 664 |  |  | 669 |
Net indefinite-lived intangible assets | 879 |  |  | 884 |
Total intangible assets, excluding goodwill | $ | 1,378 |  |  | $ | 1,394 |
Goodwill (3) | $ | 1,108 |  |  | $ | 1,106 |
(1)Includes accumulated impairment of $343 million as of June 29, 2024 and March 30, 2024. (2)Includes accumulated impairment of $227 million as of June 29, 2024 and March 30, 2024. The change in the carrying value since March 30, 2024 reflects the impact of foreign currency translation. (3)Includes accumulated impairment of $539 million related to the Jimmy Choo reporting units as of June 29, 2024 and March 30, 2024. The change in the carrying value since March 30, 2024 reflects the impact of the Sicla Acquisition, as well as the impact of foreign currency translation. On May 2, 2024, the Company completed the acquisition of Calzaturificio Sicla S.r.l. (“Sicla Acquisition”), an Italian shoe manufacturer, for cash consideration of $9 million, net of cash acquired. The acquired identifiable assets and liabilities net to a nominal amount, with $9 million recognized in goodwill allocated to the Jimmy Choo reportable segment. Amortization expense for the Company’s definite-lived intangible assets was $11 million for the three months ended June 29, 2024 and July 1, 2023.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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