Summary of Significant Accounting Policies (Tables)

12 Months Ended

Mar. 30, 2024

Accounting Policies [Abstract]

Activity and Balances of Sales Reserves

The following table details the activity and balances of the Company’s sales reserves for the fiscal years ended March 30, 2024, April 1, 2023, and April 2, 2022 (in millions):

	Balance Beginning of Year		Amounts Charged to Revenue		Write-offs Against Reserves		Balance at Year End
Total Sales Reserves:
Fiscal Year Ended March 30, 2024	$	95	$	378	$	(394)	$	79
Fiscal Year Ended April 1, 2023	92		400		(397)		95
Fiscal Year Ended April 2, 2022	98		333		(339)		92

Schedule of Cash and Cash Equivalents

A reconciliation of cash, cash equivalents and restricted cash as of March 30, 2024 and April 1, 2023 from the consolidated balance sheets to the consolidated statements of cash flows is as follows:

	Fiscal Years Ended
	March 30, 2024		April 1, 2023
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	$	199	$	249
Restricted cash included within prepaid expenses and other current assets	6		7
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows	$	205	$	256

Restrictions on Cash and Cash Equivalents

A reconciliation of cash, cash equivalents and restricted cash as of March 30, 2024 and April 1, 2023 from the consolidated balance sheets to the consolidated statements of cash flows is as follows:

	Fiscal Years Ended
	March 30, 2024		April 1, 2023
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	$	199	$	249
Restricted cash included within prepaid expenses and other current assets	6		7
Total cash, cash equivalents and restricted cash shown in the consolidated statements of cash flows	$	205	$	256

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 (loss) income per ordinary share and diluted net (loss) income per ordinary share are as follows (in millions, except share and per share data):

	Fiscal Years Ended
	March 30, 2024		April 1, 2023		April 2, 2022
Numerator:
Net (loss) income attributable to Capri	$	(229)	$	616	$	822
Denominator:
Basic weighted average shares	117,014,420		132,532,009		149,724,675
Weighted average dilutive share equivalents:
Share options, restricted stock units, and performance restricted stock units	—		1,470,471		2,773,232
Diluted weighted average shares	117,014,420		134,002,480		152,497,907
Basic net (loss) income per share (1)	$	(1.96)	$	4.65	$	5.49
Diluted net (loss) income per share (1)	$	(1.96)	$	4.60	$	5.39

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