Summary of Significant Accounting Policies (Tables)

6 Months Ended

Sep. 29, 2018

Components of Calculation of Basic Net Income Per Ordinary Share and Diluted Net Income Per Ordinary Share

The components of the calculation of basic net income per ordinary share and diluted net income per ordinary share are as follows (in millions, except share and per share data):



	Three Months Ended				Six Months Ended
	September 29, 2018		September 30, 2017		September 29, 2018		September 30, 2017
Numerator:
Net income attributable to MKHL	$	137.6	$	202.9	$	324.0	$	328.4
Denominator:
Basic weighted average shares	149,575,112		151,781,340		149,538,607		153,134,119
Weighted average dilutive share equivalents:
Share options and restricted shares/units, and performance restricted share units	2,130,573		2,386,754		2,514,064		2,385,687
Diluted weighted average shares	151,705,685		154,168,094		152,052,671		155,519,806

Basic net income per share	$	0.92	$	1.34	$	2.17	$	2.14
Diluted net income per share	$	0.91	$	1.32	$	2.13	$	2.11

Schedule of Impact of Adoption of New Accounting Pronouncements

The below table details the components of the cumulative adjustment recorded on April 1, 2018 (in millions):



	March 31, 2018 As Reported under ASC 605		ASC 606 Adjustments				April 1, 2018 As Reported Under ASC 606
Receivables, net	$	290.5	$	3.8		⁽¹⁾	$	294.3
Accrued expenses and other current liabilities	295.6		(4.6		)	⁽²⁾	291.0
Deferred tax liabilities	186.3		1.7			⁽³⁾	188.0
Retained earnings	4,152.0		6.7				4,158.7

_________________________


⁽¹⁾	Includes a $3.5 million adjustment related to product licensing revenue, which was previously recorded on a one-month lag and $0.3 million of guaranteed advertising minimums recognized by product licensees on a straight-line basis over the contract year.


⁽²⁾	Relates to recognition of breakage revenue associated with gift card liabilities not subject to escheatment.


⁽³⁾	Relates to income tax effect of the above adjustments.