Acquisitions (Tables) - Michael Kors (HK) Limited

6 Months Ended

Oct. 01, 2016

Schedule of Preliminary Estimated Fair Values of Assets Acquired and Liabilities Assumed

The following table summarized the preliminary estimated fair values of the assets acquired and liabilities assumed at the date of acquisition (in millions):



	May 31, 2016
Cash and cash equivalents	$	19.4
Accounts receivable	22.3
Inventory	36.1
Other current assets	5.5
Current assets	83.3
Property and equipment	46.6
Goodwill	96.5
Reacquired rights	400.4
Favorable lease assets	1.8
Customer relationships	0.7
Deferred tax assets	7.8
Other assets	6.6
Total assets acquired	$	643.7

Accounts payable	$	8.9
Short-term debt	5.8
Other current liabilities	27.8
Current liabilities	42.5
Unfavorable lease liabilities	4.8
Deferred tax liabilities	92.3
Other liabilities	4.1
Total liabilities assumed	$	143.7

Fair value of net assets acquired	$	500.0

Fair value of acquisition consideration	$	500.0

Schedule of Pro-Forma Consolidated Results of Operations

The following table summarizes the unaudited pro-forma consolidated results of operations for the three and six months ended October 1, 2016 and September 26, 2015 as if the acquisition had occurred on March 29, 2015, the beginning of Fiscal 2016 (in millions):



	Three Months Ended				Six Months Ended
	October 1, 2016		September 26, 2015		October 1, 2016		September 26, 2015
Pro-forma total revenue	$	1,088.2	$	1,155.9	$	2,102.5	$	2,171.3
Pro-forma net income	157.8		189.4		313.0		363.0
Pro-forma net income per ordinary share attributable to MKHL:
Basic	$	0.95	$	1.00	1.84		1.88
Diluted	$	0.93	$	0.99	1.81		1.85