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Fair Value Measurements (Tables) | 9 Months Ended
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Dec. 28, 2024
Fair Value Disclosures [Abstract] |
Schedule of Fair Value and Carrying Value of Assets | 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 December 28, 2024 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 | $ | — |  |  | $ | 17 |  |  | $ | — |  |  | $ | — |  |  | $ | 12 |  |  | $ | — |
Total derivative assets | $ | — |  |  | $ | 17 |  |  | $ | — |  |  | $ | — |  |  | $ | 12 |  |  | $ | — |
Derivative liabilities: |  |  |  |  |  |  |  |  |  |  |
Net investment hedges | $ | — |  |  | $ | 161 |  |  | $ | — |  |  | $ | — |  |  | $ | 88 |  |  | $ | — |
Interest rate swaps | — |  |  | 14 |  |  | — |  |  | — |  |  | — |  |  | — |
Total derivative liabilities | $ | — |  |  | $ | 175 |  |  | $ | — |  |  | $ | — |  |  | $ | 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):
| December 28, 2024 |  | March 30, 2024
| Carrying Value |  | Estimated Fair Value |  | Carrying Value |  | Estimated Fair Value
Revolving Credit Facilities | $ | 521 |  |  | $ | 521 |  |  | $ | 764 |  |  | $ | 764 |
Versace Term Loan | $ | 469 |  |  | $ | 467 |  |  | $ | 485 |  |  | $ | 487 |
Senior Notes due 2024 | $ | — |  |  | $ | — |  |  | $ | 450 |  |  | $ | 441 |
Schedule of Long-lived Assets, Nonrecurring | The following table details the carrying values and fair values of the Company’s assets that have been impaired during the three and nine months ended December 28, 2024 and the three and nine months ended December 30, 2023 (in millions):
| Three Months Ended December 28, 2024 |  | Nine Months Ended December 28, 2024 |  |
| Carrying Value Prior to Impairment |  | Fair Value |  | Impairment Charge |  | Carrying Value Prior to Impairment |  | Fair Value |  | Impairment Charge |  |
Goodwill | $ | 1,214 |  |  | $ | 784 |  |  | $ | 430 |  |  | $ | 1,214 |  |  | $ | 784 |  |  | $ | 430 |  |  |
Brands | 864 |  |  | 633 |  |  | 231 |  |  | 864 |  |  | 633 |  |  | 231 |  |  |
Customer Relationships | 10 |  |  | — |  |  | 10 |  |  | 10 |  |  | — |  |  | 10 |  |  |
Operating Lease Right-of-Use Assets | 3 |  |  | 1 |  |  | 2 |  |  | 78 |  |  | 39 |  |  | 39 |  |  |
Property and Equipment, net | 2 |  |  | — |  |  | 2 |  |  | 11 |  |  | 3 |  |  | 8 |  |  |
Total | $ | 2,093 |  |  | $ | 1,418 |  |  | $ | 675 |  |  | $ | 2,177 |  |  | $ | 1,459 |  |  | $ | 718 |  |  |
| Three Months Ended December 30, 2023 |  | Nine Months Ended December 30, 2023 |  |
| Carrying Value Prior to Impairment |  | Fair Value |  | Impairment Charge |  | Carrying Value Prior to Impairment |  | Fair Value |  | Impairment Charge |  |
Operating Lease Right-of-Use Assets | $ | 10 |  |  | $ | 5 |  |  | $ | 5 |  |  | $ | 34 |  |  | $ | 15 |  |  | $ | 19 |  |  |
Property and Equipment, net | 4 |  |  | 3 |  |  | 1 |  |  | 12 |  |  | 5 |  |  | 7 |  |  |
Total | $ | 14 |  |  | $ | 8 |  |  | $ | 6 |  |  | $ | 46 |  |  | $ | 20 |  |  | $ | 26 |  |  |

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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