Fair Value Measurements (Tables)

12 Months Ended

Mar. 29, 2025

Schedule of Contracts Measured and Recorded at Fair Value on Recurring and Categorized in Level 2 of Fair Value Hierarchy

All contracts are measured and recorded at fair value on a recurring basis and are categorized in Level 2 of the fair value hierarchy, as shown in the following table (in millions):


	Fair value at March 29, 2025, using:						Fair value at March 30, 2024, using:
	Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Derivative assets:

Net investment hedges	$	—	$	—	$	—	$	—	$	12	$	—


Total derivative assets	$	—	$	—	$	—	$	—	$	12	$	—

Derivative liabilities:
Forward foreign currency exchange contracts	$	—	$	2	$	—	$	—	$	—	$	—
Net investment hedges	—		289		—		—		88		—

Total derivative liabilities	$	—	$	291	$	—	$	—	$	88	$	—

Schedule of Fair Value Measurement of Long-term Debt

The following table summarizes the carrying values and estimated fair values of the Company’s debt, based on Level 2 measurements (in millions):


	March 29, 2025				March 30, 2024
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Revolving Credit Facilities	$	755	$	755	$	764	$	764
2025 Term Loans	$	706	$	699	$	—	$	—
Versace Term Loan	$	—	$	—	$	485	$	487
Senior Notes due 2024	$	—	$	—	$	450	$	441

Schedule of Carrying Value and Fair Values of Impaired Long-Lived Assets

The following table details the carrying values and fair values of the Company’s assets that have been impaired (in millions):


	Carrying Value Prior to Impairment		Fair Value		Impairment Charge (1)
Fiscal 2025:
Goodwill	$	1,214	$	784	$	430
Brands	864		633		231
Operating Lease Right-of-Use Assets	169		76		93
Property and Equipment	45		12		33
Customer Relationships	10		—		10
Total	$	2,302	$	1,505	$	797

Fiscal 2024:
Brands	$	1,181	$	884	$	297
Goodwill	549		357		192
Operating Lease Right-of-Use Assets	175		98		77
Property and Equipment	19		8		11
Total	$	1,924	$	1,347	$	577

Fiscal 2023:
Goodwill	$	681	$	599	$	82
Operating Lease Right-of-Use Assets	100		67		33
Brands	224		200		24
Property and Equipment	4		1		3
Total	$	1,009	$	867	$	142

(1)Includes $2 million of impairment charges that were recorded within restructuring and other charges related to the Company’s Global Optimization Plan during Fiscal 2024.