Intangible Assets and Goodwill (Tables)

6 Months Ended

Sep. 25, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Indefinite-Lived Intangible Assets

The following table details the carrying values of the Company’s intangible assets and goodwill (in millions):

	September 25, 2021		March 27, 2021
Definite-lived intangible assets:
Reacquired rights	$	400	$	400
Trademarks	23		23
Customer relationships (1)	435		437
Gross definite-lived intangible assets	858		860
Less: accumulated amortization	(208)		(184)
Net definite-lived intangible assets	650		676
Indefinite-lived intangible assets:
Jimmy Choo brand (2)	335		338
Versace brand (1)	971		978
	1,306		1,316
Total intangible assets, excluding goodwill	$	1,956	$	1,992
Goodwill (3)	$	1,488	$	1,498

(1)The change in the carrying value since March 27, 2021 reflects the impact of foreign currency translation.

(2)Includes accumulated impairment of $249 million as of September 25, 2021 and March 27, 2021. The change in the carrying value since March 27, 2021 reflects the impact of foreign currency translation.

(3)Includes accumulated impairment of $265 million related to the Jimmy Choo reporting units as of September 25, 2021 and March 27, 2021. The change in the carrying value since March 27, 2021 reflects the impact of foreign currency translation.

Schedule of Finite-Lived Intangible Assets

The following table details the carrying values of the Company’s intangible assets and goodwill (in millions):

	September 25, 2021		March 27, 2021
Definite-lived intangible assets:
Reacquired rights	$	400	$	400
Trademarks	23		23
Customer relationships (1)	435		437
Gross definite-lived intangible assets	858		860
Less: accumulated amortization	(208)		(184)
Net definite-lived intangible assets	650		676
Indefinite-lived intangible assets:
Jimmy Choo brand (2)	335		338
Versace brand (1)	971		978
	1,306		1,316
Total intangible assets, excluding goodwill	$	1,956	$	1,992
Goodwill (3)	$	1,488	$	1,498

(1)The change in the carrying value since March 27, 2021 reflects the impact of foreign currency translation.

(2)Includes accumulated impairment of $249 million as of September 25, 2021 and March 27, 2021. The change in the carrying value since March 27, 2021 reflects the impact of foreign currency translation.

(3)Includes accumulated impairment of $265 million related to the Jimmy Choo reporting units as of September 25, 2021 and March 27, 2021. The change in the carrying value since March 27, 2021 reflects the impact of foreign currency translation.