XML 47 R35.htm IDEA: XBRL DOCUMENT v3.22.4
Segment Information (Tables)
 9 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Key Performance Information of Reportable Segments
The following table presents the key performance information of the Company’s reportable segments (in millions):
 Three Months EndedNine Months Ended
 December 31,
2022		December 25,
2021		December 31,
2022		December 25,
2021
Total revenue:
Versace$249 $251 $832 $773 
Jimmy Choo168 178 482 457 
Michael Kors1,095 1,180 2,970 2,932 
Total revenue$1,512 $1,609 $4,284 $4,162 
Income from operations:
Versace$24 $32 $138 $135 
Jimmy Choo18 16 45 28 
Michael Kors251 335 721 795 
Total segment income from operations293 383 904 958 
Less: Corporate expenses
(56)(37)(171)(123)
Impairment of assets (1)
(1)— (12)(33)
Restructuring and other charges(5)(14)(11)(25)
COVID-19 related charges2 (1)6 7 
Impact of war in Ukraine3 — 3 — 
Total income from operations$236 $331 $719 $784 
(1)Impairment of assets during the nine months ended December 31, 2022 and December 25, 2021, respectively, primarily related to operating lease right-of-use assets at certain Michael Kors store locations.
Depreciation and Amortization Expense for Each Segment
Depreciation and amortization expense for each segment are as follows (in millions):
 Three Months EndedNine Months Ended
 December 31,
2022		December 25,
2021		December 31,
2022		December 25,
2021
Depreciation and amortization:
Versace$12 $13 $36 $39 
Jimmy Choo7 8 21 23 
Michael Kors22 26 70 84 
Corporate2 — 4 — 
Total depreciation and amortization$43 $47 $131 $146 
Total Revenue (as Recognized Based on Country of Origin)
Total revenue (based on country of origin) by geographic location are as follows (in millions):
 Three Months EndedNine Months Ended
 December 31,
2022		December 25,
2021		December 31,
2022		December 25,
2021
Revenue:
The Americas (United States, Canada and Latin America) (1)
$916 $954 $2,516 $2,370 
EMEA395 405 1,159 1,095 
Asia201 250 609 697 
Total revenue$1,512 $1,609 $4,284 $4,162 
(1)Total revenue earned in the U.S. was $840 million and $2.312 billion, respectively, for the three and nine months ended December 31, 2022. Total revenue earned in the U.S. was $885 million and $2.207 billion, respectively, for the three and nine months ended December 25, 2021.