Shareholders' Equity (Tables)

3 Months Ended

Jun. 27, 2020

Changes in Components of Accumulated Other Comprehensive Income (Loss), Net of Taxes

The following table details changes in the components of accumulated other comprehensive (loss) income (“AOCI”), net of taxes for the three months ended June 27, 2020 and June 29, 2019, respectively (in millions):


	Foreign Currency Translation (Losses) Gains ⁽¹⁾		Net Gains (Losses) on Derivatives ⁽²⁾		Other Comprehensive (Loss) Income Attributable to Capri
Balance at March 30, 2019	$	(73)	$	7	$	(66)
Other comprehensive (loss) income before reclassifications	(25)		—		(25)
Less: amounts reclassified from AOCI to earnings	—		2		2
Other comprehensive (loss) income, net of tax	(25)		(2)		(27)
Balance at June 29, 2019	$	(98)	$	5	$	(93)

Balance at March 28, 2020	$	72	$	3	$	75
Other comprehensive (loss) income before reclassifications	(3)		—		(3)
Less: amounts reclassified from AOCI to earnings	—		1		1
Other comprehensive (loss) income, net of tax	(3)		(1)		(4)
Balance at June 27, 2020	$	69	$	2	$	71

⁽¹⁾Foreign currency translation gains and losses for the three months ended June 27, 2020 include net gains of $1 million on intra-entity transactions that are of a long-term investment nature. Foreign currency translation gains and losses for the three months ended June 29, 2019 include net gains of $3 million on intra-entity transactions that are of a long-term investment nature, a $28 million translation gain relating to the Versace business and a $21 million loss, net of taxes of $4 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 (loss) income. All tax effects were not material for the periods presented.