XML 49 R38.htm IDEA: XBRL DOCUMENT v3.10.0.1
Accumulated Other Comprehensive Income (Loss) (Tables)
 6 Months Ended
Sep. 29, 2018
Equity [Abstract]  
Changes in Components of Accumulated Other Comprehensive Loss, Net of Taxes
The following table details changes in the components of accumulated other comprehensive income (loss) (“AOCI”), net of taxes for the six months ended September 29, 2018 and September 30, 2017, respectively (in millions):
 
Foreign
Currency
Translation
(Losses) Gains (1)
 
Net Gains (Losses) on
Derivatives (2)
 
Other Comprehensive (Loss) Income Attributable to MKHL
 
Other Comprehensive (Loss) Income Attributable to Noncontrolling Interest
 
Total Accumulated Other Comprehensive (Loss) Income
Balance at April 1, 2017
$
(86.1
)
 
$
5.5

 
$
(80.6
)
 
$
(0.3
)
 
$
(80.9
)
Other comprehensive income (loss) before reclassifications
37.1

 
(13.2
)
 
23.9

 
—

 
23.9

Less: amounts reclassified from AOCI to earnings 
—

 
2.9

 
2.9

 
—

 
2.9

Other comprehensive income (loss), net of tax
37.1

 
(16.1
)
 
21.0

 
—

 
21.0

Balance at September 30, 2017
$
(49.0
)
 
$
(10.6
)
 
$
(59.6
)
 
$
(0.3
)
 
$
(59.9
)
 
 
 
 
 
 
 
 
 
 
Balance at March 31, 2018
$
61.2

 
$
(10.7
)
 
$
50.5

 
$
(0.2
)
 
$
50.3

Other comprehensive (loss) income before reclassifications
(128.1
)
 
8.7

 
(119.4
)
 
(0.1
)
 
(119.5
)
Less: amounts reclassified from AOCI to earnings
—

 
(6.0
)
 
(6.0
)
 
—

 
(6.0
)
Other comprehensive (loss) income, net of tax
(128.1
)
 
14.7

 
(113.4
)
 
(0.1
)
 
(113.5
)
Balance at September 29, 2018
$
(66.9
)
 
$
4.0

 
$
(62.9
)
 
$
(0.3
)
 
$
(63.2
)
_________________________
(1) 
Foreign currency translation gains and losses for the six months ended September 29, 2018 and September 30, 2017 include net gains of $8.4 million and net losses of $2.8 million, respectively, on intra-entity transactions that are of a long-term investment nature. Foreign currency translation losses for the six months ended September 29, 2018 include a $105.1 million translation loss relating to the newly acquired Jimmy Choo business and a $3.9 million gain, net of taxes of $0.7 million relating to the Company's net investment hedges.
(2) 
Reclassified amounts relate to the Company’s forward foreign currency exchange contracts for inventory purchases and are recorded within cost of goods sold in the Company’s consolidated statements of operations and comprehensive income. Accumulated other comprehensive income related to net gains (losses) on derivative financial instruments as of September 29, 2018 and March 31, 2018 is net of a tax provision of $0.5 million and a tax benefit of $1.4 million, respectively. The amount reclassified from other comprehensive income (loss) for the six months ended September 29, 2018 is net of a tax benefit of $0.9 million. Other comprehensive income (loss) before reclassifications related to derivative financial instruments for the six months ended September 29, 2018 and September 30, 2017 is net of a tax provision of $1.0 million and $2.1 million, respectively. All other tax effects were not material for the periods presented.