Summary of Significant Accounting Policies (Tables)

12 Months Ended

Mar. 27, 2021

Accounting Policies [Abstract]

Schedule of Sales Reserves

The following table details the activity and balances of the Company’s sales reserves for the fiscal years ended March 27, 2021, March 28, 2020, and March 30, 2019 (in millions):

	Balance Beginning of Year		Amounts Charged to Revenue		Write-offs Against Reserves		Balance at Year End
Retail
Return Reserves:
Fiscal Year Ended March 27, 2021	$	12	$	176	$	(168)	$	20
Fiscal Year Ended March 28, 2020	15		231		(234)		12
Fiscal Year Ended March 30, 2019	12		226		(223)		15

	Balance Beginning of Year		Amounts Charged to Revenue		Write-offs Against Reserves		Balance at Year End
Wholesale
Total Sales Reserves:
Fiscal Year Ended March 27, 2021	$	154	$	137	$	(213)	$	78
Fiscal Year Ended March 28, 2020	112		266		(224)		154
Fiscal Year Ended March 30, 2019	109		262		(259)		112

Schedule of Cash and Cash Equivalents

A reconciliation of cash, cash equivalents and restricted cash as of March 27, 2021 and March 28, 2020 from the consolidated balance sheets to the consolidated statements of cash flows is as follows:

	Fiscal Years Ended
	March 27, 2021		March 28, 2020
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	$	232	$	592
Restricted cash included within prepaid expenses and other current assets	2		—
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows	$	234	$	592

Restrictions on Cash and Cash Equivalents

A reconciliation of cash, cash equivalents and restricted cash as of March 27, 2021 and March 28, 2020 from the consolidated balance sheets to the consolidated statements of cash flows is as follows:

	Fiscal Years Ended
	March 27, 2021		March 28, 2020
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	$	232	$	592
Restricted cash included within prepaid expenses and other current assets	2		—
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows	$	234	$	592

Components of Calculation of Basic Net Income Per Ordinary Share and Diluted Net Income Per Ordinary Share

The components of the calculation of basic net (loss) income per ordinary share and diluted net (loss) income per ordinary share are as follows (in millions, except share and per share data):

	Fiscal Years Ended
	March 27, 2021		March 28, 2020		March 30, 2019
Numerator:
Net (loss) income attributable to Capri	$	(62)	$	(223)	$	543
Denominator:
Basic weighted average shares	150,453,568		150,714,598		149,765,468
Weighted average dilutive share equivalents:
Share options and restricted stock units, and performance restricted stock units	—		—		1,848,882
Diluted weighted average shares	150,453,568		150,714,598		151,614,350
Basic net (loss) income per share (1)	$	(0.41)	$	(1.48)	$	3.62
Diluted net (loss) income per share (1)	$	(0.41)	$	(1.48)	$	3.58

(1)Basic and diluted net (loss) income per share are calculated using unrounded numbers.