Shareholders' Equity (Tables)

6 Months Ended

Sep. 25, 2021

Changes in Components of Accumulated Other Comprehensive Income (Loss), Net of Taxes

The following table details changes in the components of accumulated other comprehensive income (“AOCI”), net of taxes, for the six months ended September 25, 2021 and September 26, 2020, respectively (in millions):


	Foreign Currency Adjustments (1)		Net (Losses) Gains on Derivatives (2)		Other Comprehensive Income Attributable to Capri
Balance at March 27, 2021	$	57	$	(1)	$	56
Other comprehensive income before reclassifications	114		2		116
Less: amounts reclassified from AOCI to earnings	—		(2)		(2)
Other comprehensive income, net of tax	114		4		118
Balance at September 25, 2021	$	171	$	3	$	174

Balance at March 28, 2020	$	72	$	3	$	75
Other comprehensive income before reclassifications	53		—		53
Less: amounts reclassified from AOCI to earnings	—		3		3
Other comprehensive income (loss), net of tax	53		(3)		50
Balance at September 26, 2020	$	125	$	—	$	125

(1)Foreign currency translation adjustments for the six months ended September 25, 2021 primarily include a $132 million gain, net of taxes of $40 million, relating to the Company's net investment hedges, and a net $23 million translation loss. Foreign currency translation adjustments for the six months ended September 26, 2020 primarily include a net $88 million translation gain partially offset by a $35 million loss, net of taxes of $7 million, relating to the Company's net investment hedges.

(2)Reclassified amounts primarily 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 income (loss). All tax effects were not material for the periods presented.