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Intangible Assets and Goodwill (Tables)
3 Months Ended
Jul. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Indefinite-Lived Intangible Assets
The following table details the carrying values of the Company’s intangible assets and goodwill (in millions):
 July 1,
2023
April 1,
2023
Definite-lived intangible assets:
Reacquired rights$400 $400 
Trademarks23 23 
Customer relationships (1)
405 397 
Gross definite-lived intangible assets828 820 
Less: accumulated amortization(282)(268)
Net definite-lived intangible assets546 552 
Indefinite-lived intangible assets:
Jimmy Choo brand (2)
286 277 
Versace brand (1)
905 899 
Net indefinite-lived intangible assets1,191 1,176 
Total intangible assets, excluding goodwill$1,737 $1,728 
Goodwill (3)
$1,308 $1,293 
(1)The change in the carrying value since April 1, 2023 reflects the impact of foreign currency translation.
(2)Includes accumulated impairment of $273 million as of July 1, 2023 and April 1, 2023. The change in the carrying value since April 1, 2023 reflects the impact of foreign currency translation.
(3)Includes accumulated impairment of $347 million related to the Jimmy Choo reporting units as of July 1, 2023 and April 1, 2023. The change in the carrying value since April 1, 2023 reflects the impact of foreign currency translation.
Schedule of Finite-Lived Intangible Assets
The following table details the carrying values of the Company’s intangible assets and goodwill (in millions):
 July 1,
2023
April 1,
2023
Definite-lived intangible assets:
Reacquired rights$400 $400 
Trademarks23 23 
Customer relationships (1)
405 397 
Gross definite-lived intangible assets828 820 
Less: accumulated amortization(282)(268)
Net definite-lived intangible assets546 552 
Indefinite-lived intangible assets:
Jimmy Choo brand (2)
286 277 
Versace brand (1)
905 899 
Net indefinite-lived intangible assets1,191 1,176 
Total intangible assets, excluding goodwill$1,737 $1,728 
Goodwill (3)
$1,308 $1,293 
(1)The change in the carrying value since April 1, 2023 reflects the impact of foreign currency translation.
(2)Includes accumulated impairment of $273 million as of July 1, 2023 and April 1, 2023. The change in the carrying value since April 1, 2023 reflects the impact of foreign currency translation.
(3)Includes accumulated impairment of $347 million related to the Jimmy Choo reporting units as of July 1, 2023 and April 1, 2023. The change in the carrying value since April 1, 2023 reflects the impact of foreign currency translation.