Receivables, net

12 Months Ended

Mar. 31, 2018

Receivables [Abstract]

Receivables, net

Receivables, net

Receivables, net consist of (in millions):

	March 31, 2018			April 1, 2017
Trade receivables:
Credit risk assumed by insured	$	296.2		$	294.0
Credit risk retained by Company	87.1			63.8
Receivables due from licensees	15.8			11.9
	399.1			369.7
Less: allowances	(108.6		)	(103.9		)
	$	290.5		$	265.8

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. Allowances 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 revenues.

The Company’s allowance for doubtful accounts is determined through analysis of periodic aging of receivables that are not covered by insurance and assessments of collectability based on an evaluation of historic and anticipated trends, the financial condition 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. Allowance for doubtful accounts was $5.1 million and $0.9 million as of March 31, 2018 and April 1, 2017, respectively. The March 31, 2018 amount included an allowance due to a bankruptcy of one of our wholesale customers.