Other Assets and Liabilities

6 Months Ended

Sep. 28, 2019

Balance Sheet Related Disclosures [Abstract]

Other Assets and Liabilities

Other Assets and Liabilities

Prepaid expenses and other current assets consist of the following:

	September 28, 2019		March 30, 2019
	(millions)
Other taxes receivable	$	59.2	$	137.9
Non-trade receivables	30.5		30.8
Tenant allowances receivable	24.8		8.2
Derivative financial instruments	23.2		19.8
Inventory return asset	22.1		18.4
Prepaid software maintenance	21.2		19.8
Prepaid occupancy costs	16.1		38.0
Prepaid advertising and marketing	13.9		9.6
Restricted cash	7.1		11.9
Asset held-for-sale(a)	—		20.8
Other prepaid expenses and current assets	49.8		44.1
Total prepaid expenses and other current assets	$	267.9	$	359.3

^(a)  Balance as of March 30, 2019 related to the estimated fair value, less costs to sell, of the Company's corporate jet. The jet was sold during the first quarter of Fiscal 2020 with no gain or loss recognized on sale. The Company donated the $20.8 million net cash proceeds received from the sale to the Polo Ralph Lauren Foundation, a non-profit, charitable foundation that supports various philanthropic programs.

Other non-current assets consist of the following:

	September 28, 2019		March 30, 2019
	(millions)
Derivative financial instruments	$	30.2	$	12.2
Security deposits	27.7		24.5
Restricted cash	8.1		30.5
Non-current investments	—		44.9
Other non-current assets	34.0		46.4
Total other non-current assets	$	100.0	$	158.5

Accrued expenses and other current liabilities consist of the following:

	September 28, 2019		March 30, 2019
	(millions)
Accrued operating expenses	$	191.4	$	235.2
Accrued inventory	171.5		141.0
Accrued payroll and benefits	152.0		232.5
Other taxes payable	66.8		158.3
Accrued capital expenditures	55.3		47.6
Dividends payable	51.3		48.8
Restructuring reserve	31.5		60.4
Deferred income	15.1		14.1
Finance lease obligations	10.7		22.3
Derivative financial instruments	5.2		3.6
Other accrued expenses and current liabilities	4.3		4.6
Total accrued expenses and other current liabilities	$	755.1	$	968.4

Other non-current liabilities consist of the following:

	September 28, 2019		March 30, 2019
	(millions)
Finance lease obligations	$	196.1	$	212.6
Deferred lease incentives and obligations	62.1		202.7
Accrued benefits and deferred compensation	20.1		26.2
Deferred tax liabilities	13.1		50.2
Restructuring reserve	2.9		11.4
Derivative financial instruments	—		11.9
Other non-current liabilities	24.8		25.9
Total other non-current liabilities	$	319.1	$	540.9