Shareholders' Equity (Tables)

6 Months Ended

Oct. 01, 2022

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

The following table details changes in the components of accumulated other comprehensive (loss) income (“AOCI”), net of taxes, for the six months ended October 1, 2022 and September 25, 2021, respectively (in millions):


	Foreign Currency Adjustments (1)		Net Gains (Losses) on Derivatives (2)		Other Comprehensive Income (Loss) Attributable to Capri
Balance at April 2, 2022	$	184	$	10	$	194
Other comprehensive (loss) income before reclassifications	(232)		10		(222)
Less: amounts reclassified from AOCI to earnings	—		7		7
Other comprehensive (loss) income, net of tax	(232)		3		(229)
Balance at October 1, 2022	$	(48)	$	13	$	(35)

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

(1)Foreign currency translation adjustments for the six months ended October 1, 2022 primarily include a net $486 million translation loss partially offset by a $247 million gain, net of taxes of $118 million, relating to the Company’s net investment hedges. 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, partially offset by a net $23 million translation loss.

(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. All tax effects were not material for the periods presented.