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Segment Information (Tables)

12 Months Ended

Mar. 28, 2020

Key Performance Information of Reportable Segments

The following table presents the key performance information of the Company’s reportable segments (in millions):


		Fiscal Years Ended
		March 28, 2020				March 30, 2019				March 31, 2018
Total revenue:
	Versace	$	843			$	137			$	—
	Jimmy Choo	555				590				223
	Michael Kors	4,153				4,511				4,496
Total revenue				$	5,551			$	5,238			$	4,719

(Loss) income from operations:
	Versace	$	(8)			$	(11)			$	—
	Jimmy Choo	(13)				20				(4)
	Michael Kors	850				964				975
Total segment income from operations				829				973				971
Less:	Corporate expenses	(152)				(93)				(87)
	Restructuring and other charges	(42)				(124)				(102)
	Impairment of assets ⁽¹⁾	(708)				(21)				(33)
	COVID-19 related charges ⁽²⁾	(119)				—				—
Total (loss) income from operations				$	(192)			$	735			$	749

⁽¹⁾Impairment of assets during Fiscal 2020 includes $434 million, $187 million and $87 million of impairment charges related to the Jimmy Choo, Michael Kors and Versace reportable segments, respectively. The impairment charges during Fiscal 2019 and Fiscal 2018 were primarily related to the Michael Kors reportable segment.

⁽²⁾COVID-19 related charges primarily include additional inventory reserves and bad debt expense of $92 million and $25 million, respectively, recorded within costs of goods sold and selling, general and administrative expenses in the consolidated statements of operations.

Depreciation and Amortization Expense for Each Segment

Depreciation and amortization expense for each segment are as follows (in millions):


	Fiscal Years Ended
	March 28, 2020		March 30, 2019		March 31, 2018
Depreciation and amortization⁽¹⁾:
Versace	$	61	$	9	$	—
Jimmy Choo	33		34		13
Michael Kors	155		182		195
Total depreciation and amortization	$	249	$	225	$	208

⁽¹⁾Excluded from the above table are impairment charges, which are detailed in the below table and in Note 8, Note 9 and Note 14.

Total Revenue (as Recognized Based on Country of Origin)

Total revenue (based on country of origin) and long-lived assets by geographic location are as follows (in millions):


	Fiscal Years Ended
	March 28, 2020		March 30, 2019		March 31, 2018
Revenue:
The Americas (U.S., Canada and Latin America)⁽¹⁾	$	3,115	$	3,182	$	3,033
EMEA	1,523		1,279		1,093
Asia	913		777		593
Total revenue	$	5,551	$	5,238	$	4,719

Long-Lived Assets by Geographic Location


	As of
	March 28, 2020		March 30, 2019		March 31, 2018
Long-lived assets: ⁽¹⁾
The Americas (U.S., Canada and Latin America)⁽²⁾	$	1,132	$	319	$	328
EMEA	2,432		2,123		1,050
Asia	608		466		441
Total Long-lived assets:	$	4,172	$	2,908	$	1,819

⁽¹⁾Long-lived assets as of March 28, 2020 reflect operating lease right-of-use assets resulting from the Company’s adoption of ASU 2016-02. See Note 2 for additional information.

⁽²⁾Net revenues earned in the U.S. during Fiscal 2020, Fiscal 2019, and Fiscal 2018 were $2.898 billion, $2.972 billion and $2.818 billion, respectively. Long-lived assets located in the U.S. as of March 28, 2020 and March 30, 2019 were $1.060 billion and $296 million, respectively.

Net Revenues by Major Product Category

Total revenue by major product category are as follows (in millions):


	Fiscal Years Ended
	March 28, 2020		% of Total	March 30, 2019		% of Total		March 31, 2018		% of Total
Accessories	$	2,933	52.8%	$	3,139	59.9	%	$	3,057	64.8	%
Footwear	1,100		19.8%	1,023		19.5	%	657		13.9	%
Apparel	1,069		19.3%	698		13.3	%	605		12.8	%
Licensed product	222		4.0%	218		4.2	%	250		5.3	%
Licensing revenue	201		3.6%	156		3.0	%	150		3.2	%
Other	26		0.5%	4		0.1	%	—		—	%
Total Revenue	$	5,551		$	5,238			$	4,719