Current Assets and Current Liabilities

3 Months Ended

Jun. 26, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Current Assets and Current Liabilities

Current Assets and Current LiabilitiesPrepaid expenses and other current assets consist of the following (in millions):

	June 26, 2021		March 27, 2021
Prepaid taxes	$	131	$	133
Other accounts receivables	16		13
Prepaid contracts	11		11
Interest receivable related to net investment hedges	7		12
Other	44		36
	$	209	$	205

Accrued expenses and other current liabilities consist of the following (in millions):

	June 26, 2021		March 27, 2021
Other taxes payable	$	53	$	46
Return liabilities	48		46
Accrued rent (1)	19		20
Accrued capital expenditures	15		17
Professional services	12		13
Gift cards and retail store credits	12		12
Accrued litigation	12		12
Accrued purchases and samples	11		8
Accrued advertising and marketing	7		11
Accrued interest	5		10
Restructuring liability	5		9
Charitable donations (2)	20		20
Other	78		73
	$	297	$	297

(1)The accrued rent balance relates to variable lease payments.

(2)Relates to a $20 million unconditional pledge to The Capri Holdings Foundation for the Advancement of Diversity in Fashion as of June 26, 2021 and March 27, 2021.