Commitments and Contingencies

12 Months Ended

Apr. 02, 2016

Commitments and Contingencies Disclosure [Abstract]

Leases

The Company leases office space, retail stores and warehouse space under operating lease agreements that expire at various dates through August 2033. In addition to minimum rental payments, the leases require payment of increases in real estate taxes and other expenses incidental to the use of the property.

Rent expense for the Company’s operating leases consists of the following (in millions):



	Fiscal Years Ended
	April 2, 2016		March 28, 2015		March 29, 2014
Minimum rentals	$	193.5	$	151.0	$	107.1
Contingent rent	64.4		65.8		56.3
Total rent expense	$	257.9	$	216.8	$	163.4

Future minimum lease payments under the terms of these noncancelable operating lease agreements are as follows (in millions):



Fiscal years ending:
2017	$	220.7
2018	223.4
2019	215.1
2020	213.1
2021	206.9
Thereafter	746.7
	$	1,825.9

The Company has issued stand-by letters of credit to guarantee certain of its retail and corporate operating lease commitments, aggregating $10.6 million at April 2, 2016, including $10.0 million in letters of credit issued under the 2015 Credit Facility.

Other Commitments

As of April 2, 2016, the Company also has other contractual commitments aggregating $600.5 million, which consist of inventory purchase commitments of $549.0 million, debt obligations of $2.3 million and other contractual obligations of $49.2 million, which primarily relate to obligations related to the Company's new European distribution center, marketing and advertising agreements, information technology agreements and supply agreements.

Long-term Employment Contract

As of April 2, 2016, the Company had an employment agreement with one of its officers that provided for continuous employment through the date of the officer’s death or permanent disability at a salary of $1.0 million. In addition to salary, the agreement provided for an annual bonus and other employee related benefits.

Contingencies

In the ordinary course of business, the Company is party to various legal proceedings and claims. Although the outcome of such items cannot be determined with certainty, the Company’s management does not believe that the outcome of all pending legal proceedings in the aggregate will have a material adverse effect on its cash flow, results of operations or financial position.