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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
9 Months Ended
Dec. 28, 2019
Dec. 29, 2018
Cash flows from operating activities    
Net income $ 327 $ 523
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation and amortization 188 160
Equity compensation expense 65 38
Deferred income taxes 0 12
Impairment of long-lived assets 220 17
Charges to lease related balances, net (47)  
Tax deficit (benefit) on exercise of share options 2 (24)
Amortization of deferred financing costs 6 3
Foreign currency losses 4 79
Other non-cash charges 1 2
Change in assets and liabilities:    
Receivables, net 11 (9)
Inventories, net (8) (127)
Prepaid expenses and other current assets (72) (51)
Accounts payable 6 52
Accrued expenses and other current liabilities 24 75
Other long-term assets and liabilities 25 26
Net cash provided by operating activities 752 776
Cash flows from investing activities    
Capital expenditures (164) (135)
Purchase of intangible assets 0 (2)
Cash paid for business acquisitions, net of cash acquired (1) (2)
Realized loss on hedge related to Versace acquisition 0 (77)
Settlement of a net investment hedges 32 0
Net cash used in investing activities (133) (216)
Cash flows from financing activities    
Debt borrowings 1,844 3,597
Debt repayments (2,296) (1,926)
Debt issuance costs 0 (15)
Purchase of treasury shares (102) (207)
Exercise of employee share options 0 23
Net cash (used in) provided by financing activities (554) 1,472
Effect of exchange rate changes on cash and cash equivalents 0 (9)
Net increase in cash and cash equivalents 65 2,023
Beginning of period 172 163
End of period (including restricted cash of $1.922 billion at December 29, 2018) 237 2,186
Supplemental disclosures of cash flow information    
Cash paid for interest 67 24
Cash paid for income taxes 75 128
Supplemental disclosure of non-cash investing and financing activities    
Accrued capital expenditures $ 27 $ 23