Current Assets and Current Liabilities (Tables)

6 Months Ended

Oct. 01, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following (in millions):

	October 1, 2022		April 2, 2022
Prepaid taxes	$	132	$	86
Prepaid contracts	24		15
Other accounts receivables	12		17
Prepaid insurance	10		2
Interest receivable related to net investment hedges	1		13
Other	70		59
Total prepaid expenses and other current assets	$	249	$	192

Schedule of Accrued Expenses and Other Current Liabilities

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

	October 1, 2022		April 2, 2022
Other taxes payable	$	52	$	61
Return liabilities	45		52
Accrued capital expenditures	43		39
Accrued advertising and marketing	21		21
Accrued rent (1)	16		20
Gift cards and retail store credits	15		17
Professional services	15		15
Accrued litigation	12		13
Charitable donations (2)	10		10
Accrued interest	10		10
Accrued purchases and samples	9		11
Other	64		82
Total accrued expenses and other current liabilities	$	312	$	351

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

(2)The charitable donations balance relates to a $10 million unconditional pledge to The Versace Foundation as of October 1, 2022 and April 2, 2022.