Shareholders' Equity (Tables)

12 Months Ended

Mar. 27, 2021

Stockholders' Equity Note [Abstract]

Changes in Components of Accumulated Other Comprehensive Loss, Net of Taxes

The following table details changes in the components of accumulated other comprehensive income (loss) ("AOCI"), net of taxes for Fiscal 2021, Fiscal 2020 and Fiscal 2019 (in millions):

	Foreign  Currency Translation Income (Loss) (1)		Net (Loss) Income on Derivatives (2)		Other Comprehensive Income (Loss) Attributable to Capri
Balance at April 1, 2018	$	61	$	(10)	$	51
Other comprehensive (loss) income before reclassifications	(134)		14		(120)
Less: amounts reclassified from AOCI to earnings	—		(3)		(3)
Other comprehensive (loss) income, net of tax	(134)		17		(117)
Balance at March 30, 2019	(73)		7		(66)
Other comprehensive income before reclassifications	145		5		150
Less: amounts reclassified from AOCI to earnings	—		9		9
Other comprehensive income (loss), net of tax	145		(4)		141
Balance at March 28, 2020	72		3		75
Other comprehensive loss before reclassifications	(15)		(2)		(17)
Less: amounts reclassified from AOCI to earnings	—		2		2
Other comprehensive loss, net of tax	(15)		(4)		(19)
Balance at March 27, 2021	$	57	$	(1)	$	56

(1)Foreign currency translation losses for Fiscal 2021 primarily include a $199 million loss, net of taxes of $63 million, primarily relating to the Company’s net investment hedges, a net $189 million translation gain and a net loss of $8 million, on intra-entity transactions that are of a long-term investment nature. Foreign currency translation gains for Fiscal 2020 includes a $219 million gain, net of taxes of $45 million, relating to the Company's net investment hedges, a $60 million translation loss relating to the Jimmy Choo business, a $10 million translation loss relating to the Versace business and a net gain of $6 million, on intra-entity transactions that are of a long-term investment nature.

(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. Other comprehensive income (loss) before reclassifications related to derivative instruments for Fiscal 2021 was immaterial. Other comprehensive income (loss) before reclassifications related to derivative instruments for Fiscal 2020 and Fiscal 2019 is net of a tax benefits of $0 million and $2 million, respectively. All tax effects were not material for the periods presented.