Fair Value Measurements (Tables)

6 Months Ended

Sep. 28, 2024

Schedule of Fair Value and Carrying Value of Assets

All contracts are measured and recorded at fair value on a recurring basis and are categorized in Level 2 of the fair value hierarchy, as shown in the following table (in millions):


	Fair value at September 28, 2024 using:						Fair value at March 30, 2024 using:
	Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Derivative assets:

Net investment hedges	$	—	$	—	$	—	$	—	$	12	$	—


Total derivative assets	$	—	$	—	$	—	$	—	$	12	$	—

Derivative liabilities:

Net investment hedges	$	—	$	342	$	—	$	—	$	88	$	—

Interest rate swaps	—		15		—		—		—		—
Total derivative liabilities	$	—	$	357	$	—	$	—	$	88	$	—

Schedule of Fair Value Measurement of Long-term Debt

The following table summarizes the carrying values and estimated fair values of the Company’s debt, based on Level 2 measurements (in millions):


	September 28, 2024				March 30, 2024
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Revolving Credit Facilities	$	719	$	719	$	764	$	764
Versace Term Loan	$	502	$	502	$	485	$	487
Senior Notes due 2024	$	450	$	451	$	450	$	441

Schedule of Long-lived Assets, Nonrecurring

The following table details the carrying values and fair values of the Company’s assets that have been impaired during the three and six months ended September 28, 2024 and the three and six months ended September 30, 2023 (in millions):


	Three and Six Months Ended September 28, 2024						Three and Six Months Ended September 30, 2023
	Carrying Value Prior to Impairment		Fair Value		Impairment Charge		Carrying Value Prior to Impairment		Fair Value		Impairment Charge
Operating Lease Right-of-Use Assets	$	75	$	38	$	37	$	24	$	10	$	14
Property and Equipment, net	9		3		6		7		1		6
Total	$	84	$	41	$	43	$	31	$	11	$	20