Receivables, net

6 Months Ended

Sep. 26, 2015

Receivables, net consist of (in thousands):



	September 26, 2015			March 28, 2015
Trade receivables:
Credit risk assumed by factors/insured	$	348,053		$	374,150
Credit risk retained by Company	73,286			67,530
Receivables due from licensees	29,584			11,763
	450,923			453,443
Less allowances:	(106,788		)	(90,024		)
	$	344,135		$	363,419

Receivables are presented net of allowances for sales returns, discounts, markdowns, operational chargebacks and doubtful accounts. Sales returns are determined based on an evaluation of current market conditions and historical returns experience. 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 net sales.

The allowance for doubtful accounts is determined through analysis of periodic aging of receivables for which credit risk is not assumed by the factors, or which are not covered by insurance, and assessments of collectability based on an evaluation of historic and anticipated trends, the financial conditions 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. Allowances for doubtful accounts were $0.6 million and $0.7 million, at September 26, 2015 and March 28, 2015, respectively.