Shareholders' Equity (Tables)

9 Months Ended

Dec. 30, 2023

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

The following table details changes in the components of accumulated other comprehensive income (“AOCI”), net of taxes, for the nine months ended December 30, 2023 and December 31, 2022, respectively (in millions):


	Foreign Currency Adjustments (1)		Net Gain on Derivatives (2)		Other Comprehensive Income Attributable to Capri
Balance at April 1, 2023	$	143	$	4	$	147
Other comprehensive loss before reclassifications	(112)		—		(112)
Less: amounts reclassified from AOCI to earnings	—		4		4
Other comprehensive loss, net of tax	(112)		(4)		(116)
Balance at December 30, 2023	$	31	$	—	$	31

Balance at April 2, 2022	$	184	$	10	$	194
Other comprehensive (loss) income before reclassifications	(87)		8		(79)
Less: amounts reclassified from AOCI to earnings	—		10		10
Other comprehensive (loss) income, net of tax	(87)		(2)		(89)
Balance at December 31, 2022	$	97	$	8	$	105

(1)Foreign currency translation adjustments for the nine months ended December 30, 2023 primarily include a $159 million loss, net of taxes of $59 million, relating to the Company’s net investment and fair value hedges partially offset by a net $47 million translation gain. Foreign currency translation adjustments for the nine months ended December 31, 2022 primarily include a net $310 million translation loss partially offset by a $219 million gain, net of taxes of $113 million, relating to the Company’s net investment hedges.

(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.