XML 30 R13.htm IDEA: XBRL DOCUMENT v3.25.1
Receivables, net
 12 Months Ended
Mar. 29, 2025
Receivables [Abstract]  
Receivables, net Receivables, net
Receivables, net, consist of (in millions):
March 29,
2025		March 30,
2024
Trade receivables (1)
$295 $342 
Receivables due from licensees30 37 
325 379 
Less: allowances(48)(47)
Total receivables, net$277 $332 
(1)As of March 29, 2025 and March 30, 2024, $58 million and $102 million, respectively, of trade receivables were insured.
Receivables are presented net of allowances for discounts, markdowns, operational chargebacks and credit losses. Discounts are based on open invoices where trade discounts have been extended to customers. Markdowns are based on wholesale customers’ sales performance, seasonal negotiations with customers, historical deduction trends and an evaluation of current market conditions. Operational chargebacks are based on deductions taken by customers, net of expected recoveries. Such provisions, and related recoveries, are reflected in revenues.
The Company’s allowance for credit losses is determined through analysis of periodic aging of receivables and assessments of collectability based on an evaluation of historic and anticipated trends, the financial condition of the Company’s customers and the impact of general economic conditions. The past due status of a receivable is based on its contractual terms. Amounts deemed uncollectible are written off against the allowance when it is probable the amounts will not be recovered. Allowance for credit losses was $18 million and $13 million as of March 29, 2025 and March 30, 2024, respectively. The Company had credit losses of $8 million, $6 million and $5 million, respectively, for Fiscal 2025, Fiscal 2024 and Fiscal 2023.