Summary of Significant Accounting Policies (Tables)

9 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Schedule of Cash and Cash Equivalents

A reconciliation of cash, cash equivalents and restricted cash as of December 31, 2022 and April 2, 2022 from the consolidated balance sheets to the consolidated statements of cash flows is as follows (in millions):

	December 31, 2022		April 2, 2022
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	$	281	$	169
Restricted cash included within prepaid expenses and other current assets	3		3
Total cash, cash equivalents and restricted cash shown on the consolidated statements of cash flows	$	284	$	172

Restrictions on Cash and Cash Equivalents

A reconciliation of cash, cash equivalents and restricted cash as of December 31, 2022 and April 2, 2022 from the consolidated balance sheets to the consolidated statements of cash flows is as follows (in millions):

	December 31, 2022		April 2, 2022
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	$	281	$	169
Restricted cash included within prepaid expenses and other current assets	3		3
Total cash, cash equivalents and restricted cash shown on the consolidated statements of cash flows	$	284	$	172

Schedule of Net Lease Costs and Supplemental Cash Flow Information

The following table presents the Company’s supplemental cash flow information related to leases (in millions):

	Nine Months Ended
	December 31, 2022		December 25, 2021
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows used in operating leases	$	373	$	413

Schedule of Components of Calculation of Basic Net Income Per Ordinary Share and Diluted Net Income Per Ordinary Share

The components of the calculation of basic net income per ordinary share and diluted net income per ordinary share are as follows (in millions, except share and per share data):

	Three Months Ended				Nine Months Ended
	December 31, 2022		December 25, 2021		December 31, 2022		December 25, 2021
Numerator:
Net income attributable to Capri	$	225	$	322	$	650	$	741
Denominator:
Basic weighted average shares	128,849,793		149,717,485		135,600,276		150,975,773
Weighted average dilutive share equivalents:
Share options and restricted shares/units, and performance restricted share units	1,515,126		2,657,809		1,449,883		2,858,347
Diluted weighted average shares	130,364,919		152,375,294		137,050,159		153,834,120
Basic net income per share (1)	$	1.74	$	2.15	$	4.79	$	4.91
Diluted net income per share (1)	$	1.72	$	2.11	$	4.74	$	4.82

(1)Basic and diluted net income per share are calculated using unrounded numbers.