Shareholders' Equity (Tables)

12 Months Ended

Apr. 02, 2022

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 (“AOCI”), net of taxes, for Fiscal 2022, Fiscal 2021 and Fiscal 2020 (in millions):

	Foreign  Currency Translation Income (Loss) (1)		Net Income (Loss) on Derivatives (2)		Other Comprehensive Income (Loss) Attributable to Capri
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
Other comprehensive income before reclassifications	127		10		137
Less: amounts reclassified from AOCI to earnings	—		(1)		(1)
Other comprehensive income, net of tax	127		11		138
Balance at April 2, 2022	$	184	$	10	$	194

(1)Foreign currency translation adjustments for Fiscal 2022 primarily include a $321 million gain, net of taxes of $114 million, primarily relating to the Company’s net investment hedges, and a net $210 million translation loss. Foreign currency translation adjustments for Fiscal 2021 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 include 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 income (loss). All tax effects were not material for the periods presented.