Intangible Assets and Goodwill (Tables)

9 Months Ended

Dec. 28, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Indefinite-Lived Intangible Assets

The following table details the carrying values of the Company’s intangible assets and goodwill (in millions):

	December 28, 2019		March 30, 2019
Definite-lived intangible assets:
Reacquired Rights	$	400	$	400
Trademarks	23		23
Key Money (1)	68		96
Customer Relationships	415		415
Total definite-lived intangible assets	906		934
Less: accumulated amortization	(181)		(143)
Net definite-lived intangible assets	725		791
Indefinite-lived intangible assets:
Jimmy Choo brand	574		572
Versace brand	926		930
	1,500		1,502
Total intangible assets, excluding goodwill	$	2,225	$	2,293
Goodwill (2)	$	1,681	$	1,659

⁽¹⁾The March 30, 2019 balance includes certain lease rights that were reclassified to the operating lease right-of-use asset as part of the adoption of ASU 2016-02.

⁽²⁾The change in the carrying values since March 30, 2019 primarily relates to the goodwill adjustment discussed in Note 5.

Schedule of Finite-Lived Intangible Assets

The following table details the carrying values of the Company’s intangible assets and goodwill (in millions):

	December 28, 2019		March 30, 2019
Definite-lived intangible assets:
Reacquired Rights	$	400	$	400
Trademarks	23		23
Key Money (1)	68		96
Customer Relationships	415		415
Total definite-lived intangible assets	906		934
Less: accumulated amortization	(181)		(143)
Net definite-lived intangible assets	725		791
Indefinite-lived intangible assets:
Jimmy Choo brand	574		572
Versace brand	926		930
	1,500		1,502
Total intangible assets, excluding goodwill	$	2,225	$	2,293
Goodwill (2)	$	1,681	$	1,659

⁽¹⁾The March 30, 2019 balance includes certain lease rights that were reclassified to the operating lease right-of-use asset as part of the adoption of ASU 2016-02.

⁽²⁾The change in the carrying values since March 30, 2019 primarily relates to the goodwill adjustment discussed in Note 5.