Segment Information (Tables)

12 Months Ended

Mar. 27, 2021

Segment Reporting [Abstract]

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 27, 2021		March 28, 2020		March 30, 2019
Total revenue:
	Versace	$	718	$	843	$	137
	Jimmy Choo	418		555		590
	Michael Kors	2,924		4,153		4,511
Total revenue		$	4,060	$	5,551	$	5,238
Income (loss) from operations:
	Versace	$	21	$	(8)	$	(11)
	Jimmy Choo	(55)		(13)		20
	Michael Kors	595		850		964
Total segment income from operations		561		829		973
Less:	Corporate expenses	(152)		(152)		(93)
	Impairment of assets (1)	(316)		(708)		(21)
	COVID-19 related charges (2)	(42)		(119)		—
	Restructuring and other charges	(32)		(42)		(124)
Total income (loss) from operations		$	19	$	(192)	$	735

(1)Impairment of assets during Fiscal 2021 includes $191 million, $91 million and $34 million of impairment charges related to the Jimmy Choo, Michael Kors and Versace reportable segments, respectively. 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 were primarily related to the Michael Kors reportable segment.

(2)COVID-19 related charges during Fiscal 2021 primarily include net incremental inventory reserves and severance expense of $10 million and $24 million, respectively, recorded within costs of goods sold and selling, general and administrative expenses in the consolidated statements of operations and comprehensive (loss) income. COVID-19 related charges during Fiscal 2020, primarily include additional inventory reserves and credit losses 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 and comprehensive (loss) income.

Depreciation and Amortization Expense for Each Segment

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

	Fiscal Years Ended
	March 27, 2021		March 28, 2020		March 30, 2019
Depreciation and amortization (1):
Versace	$	54	$	61	$	9
Jimmy Choo	31		33		34
Michael Kors	127		155		182
Total depreciation and amortization	$	212	$	249	$	225

(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 27, 2021		March 28, 2020		March 30, 2019
Revenue:
The Americas (U.S., Canada and Latin America) (1)	$	2,172	$	3,115	$	3,182
EMEA	1,029		1,523		1,279
Asia	859		913		777
Total revenue	$	4,060	$	5,551	$	5,238

	As of
	March 27, 2021		March 28, 2020		March 30, 2019
Long-lived assets: (2)
The Americas (U.S., Canada and Latin America) (1)	$	1,001	$	1,132	$	319
EMEA	2,384		2,432		2,123
Asia	596		608		466
Total long-lived assets:	$	3,981	$	4,172	$	2,908

(1)Net revenues earned in the U.S. during Fiscal 2021, Fiscal 2020, and Fiscal 2019 were $2.016 billion, $2.898 billion and $2.972 billion, respectively. Long-lived assets located in the U.S. as of March 27, 2021 and March 28, 2020 were $942 million and $1.060 billion, respectively.

(2)Long-lived assets as of March 27, 2021 and March 28, 2020 include property and equipment, net, intangible assets, net and operating lease right-of-use assets resulting from the Company’s adoption of ASU 2016-02. See Note 4 for additional information.

Long-Lived Assets by Geographic Location

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

	Fiscal Years Ended
	March 27, 2021		March 28, 2020		March 30, 2019
Revenue:
The Americas (U.S., Canada and Latin America) (1)	$	2,172	$	3,115	$	3,182
EMEA	1,029		1,523		1,279
Asia	859		913		777
Total revenue	$	4,060	$	5,551	$	5,238

	As of
	March 27, 2021		March 28, 2020		March 30, 2019
Long-lived assets: (2)
The Americas (U.S., Canada and Latin America) (1)	$	1,001	$	1,132	$	319
EMEA	2,384		2,432		2,123
Asia	596		608		466
Total long-lived assets:	$	3,981	$	4,172	$	2,908

(1)Net revenues earned in the U.S. during Fiscal 2021, Fiscal 2020, and Fiscal 2019 were $2.016 billion, $2.898 billion and $2.972 billion, respectively. Long-lived assets located in the U.S. as of March 27, 2021 and March 28, 2020 were $942 million and $1.060 billion, respectively.

(2)Long-lived assets as of March 27, 2021 and March 28, 2020 include property and equipment, net, intangible assets, net and operating lease right-of-use assets resulting from the Company’s adoption of ASU 2016-02. See Note 4 for additional information.

Net Revenues by Major Product Category

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

	Fiscal Years Ended
	March 27, 2021		% of Total	March 28, 2020		% of Total		March 30, 2019		% of Total
Accessories	$	2,158	53.2%	$	2,933	52.8	%	$	3,139	59.9	%
Footwear	796		19.6%	1,100		19.8	%	1,023		19.5	%
Apparel	720		17.7%	1,069		19.3	%	698		13.3	%
Licensed product	185		4.6%	222		4.0	%	218		4.2	%
Licensing revenue	155		3.8%	201		3.6	%	156		3.0	%
Other	46		1.1%	26		0.5	%	4		0.1	%
Total revenue	$	4,060		$	5,551			$	5,238