Ralph Lauren (RL) 10-Q9 Feb 232023 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Dec. 31, 2022	Feb. 03, 2023
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Dec. 31, 2022
Document Transition Report	false
Entity File Number	001-13057
Entity Registrant Name	Ralph Lauren Corporation
Entity Central Index Key	0001037038
Current Fiscal Year End Date	--04-01
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-2622036
Entity Address, Address Line One	650 Madison Avenue,
Entity Address, City or Town	New York,
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10022
City Area Code	212
Local Phone Number	318-7000
Title of 12(b) Security	Class A Common Stock, $.01 par value
Trading Symbol	RL
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Class A common stock
Entity Common Stock, Shares Outstanding		41,098,099
Class B common stock
Entity Common Stock, Shares Outstanding		24,881,276

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Dec. 31, 2022	Apr. 02, 2022
Current assets:
Cash and cash equivalents	$ 1,566.1	$ 1,863.8
Short-term investments	131.4	734.6
Accounts receivable, net of allowances of $184.4 million and $214.7 million	424	405.4
Inventories	1,238.4	977.3
Income tax receivable	50.5	63.7
Prepaid expenses and other current assets	220.9	172.5
Total current assets	3,631.3	4,217.3
Property and equipment, net	947.5	969.5
Operating lease right-of-use assets	1,073	1,111.3
Deferred tax assets	270.4	303.8
Goodwill	890.4	908.7
Intangible assets, net	92.3	102.9
Other non-current assets	135	111.2
Total assets	7,039.9	7,724.7
Current liabilities:
Current portion of long-term debt	0	499.8
Accounts payable	468	448.7
Current income tax payable	118.7	53.8
Current operating lease liabilities	264.4	262
Accrued expenses and other current liabilities	898.5	991.4
Total current liabilities	1,749.6	2,255.7
Long-term debt	1,138	1,136.5
Long-term finance lease liabilities	320.9	341.6
Long-term operating lease liabilities	1,079.2	1,132.2
Non-current income tax payable	75.5	98.9
Non-current liability for unrecognized tax benefits	97.4	91.9
Other non-current liabilities	111.5	131.9
Commitments and contingencies (Note 13)
Total liabilities	4,572.1	5,188.7
Equity:
Additional paid-in-capital	2,808.7	2,748.8
Retained earnings	6,615.1	6,274.9
Treasury stock, Class A, at cost; 66.6 million and 61.9 million shares	(6,754.5)	(6,308.7)
Accumulated other comprehensive loss	(202.8)	(180.3)
Total equity	2,467.8	2,536
Total liabilities and equity	7,039.9	7,724.7
Class A common stock, par value $.01 per share; 107.7 million and 106.9 million shares issued; 41.1 million and 45.0 million shares outstanding
Equity:
Common stock	1	1
Class B common stock, par value $.01 per share; 24.9 million shares issued and outstanding
Equity:
Common stock	$ 0.3	$ 0.3

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) shares in Millions, $ in Millions	Dec. 31, 2022	Apr. 02, 2022
Allowance on accounts receivable	$ 184.4	$ 214.7
Class A common stock, par value $.01 per share; 107.7 million and 106.9 million shares issued; 41.1 million and 45.0 million shares outstanding
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued	107.7	106.9
Common stock, shares outstanding	41.1	45
Treasury stock, shares	66.6	61.9
Class B common stock, par value $.01 per share; 24.9 million shares issued and outstanding
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued	24.9	24.9
Common stock, shares outstanding	24.9	24.9

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 31, 2022	Dec. 25, 2021
Income Statement [Abstract]
Net revenues	$ 1,832.3	$ 1,815.4	$ 4,902.8	$ 4,695.8
Cost of goods sold	(641.6)	(617.3)	(1,687.6)	(1,514.4)
Gross profit	1,190.7	1,198.1	3,215.2	3,181.4
Other costs and expenses
Selling, general, and administrative expenses	(900.8)	(908.8)	(2,530.7)	(2,391.9)
Impairment of assets	0	0	(0.2)	(19.3)
Unallocated restructuring and other charges, net	(7.8)	(0.2)	(20.3)	(8.6)
Total other operating expenses, net	(908.6)	(909)	(2,551.2)	(2,419.8)
Operating income	282.1	289.1	664	761.6
Interest expense	(12)	(13.4)	(33.3)	(40.3)
Interest income	8.6	1.4	18.8	4.4
Other income (expense), net	1.7	0.1	(6.8)	(0.4)
Income before income taxes	280.4	277.2	642.7	725.3
Income tax provision	(63.9)	(59.5)	(152.3)	(149.6)
Net income	$ 216.5	$ 217.7	$ 490.4	$ 575.7
Net income per common share:
Basic	$ 3.26	$ 2.98	$ 7.19	$ 7.82
Diluted	$ 3.20	$ 2.93	$ 7.07	$ 7.68
Weighted average common shares outstanding:
Basic	66.5	73.2	68.2	73.7
Diluted	67.6	74.3	69.4	75
Dividends declared per share	$ 0.75	$ 0.6875	$ 2.25	$ 2.0625

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 31, 2022	Dec. 25, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 216.5	$ 217.7	$ 490.4	$ 575.7
Other Comprehensive Income (Loss), Net of Tax [Abstract]
Foreign currency translation gains (losses)	67	(30.6)	(28.8)	(29.8)
Net gains (losses) on cash flow hedges	(12.5)	0.3	6.4	0.4
Net gains (losses) on defined benefit plans	0	0.1	(0.1)	0
Other comprehensive income (loss), net of tax	54.5	(30.2)	(22.5)	(29.4)
Total comprehensive income	$ 271	$ 187.5	$ 467.9	$ 546.3

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Dec. 31, 2022	Dec. 25, 2021
Cash flows from operating activities:
Net income	$ 490.4	$ 575.7
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	163.3	169.3
Deferred income tax expense (benefits)	21.3	(1.8)
Stock-based compensation expense	59.9	62.6
Impairment of assets	0.2	19.3
Bad debt expense (reversals)	0.2	(2.7)
Other non-cash charges (benefits)	(1.3)	5.1
Changes in operating assets and liabilities:
Accounts receivable	(30.5)	31.7
Inventories	(282.7)	(211.6)
Prepaid expenses and other current assets	(54.2)	(37.8)
Accounts payable and accrued liabilities	(24.3)	296.1
Income tax receivables and payables	69.9	(11)
Operating lease right-of-use assets and liabilities, net	(9.8)	(42.2)
Other balance sheet changes	(5.4)	(31)
Net cash provided by operating activities	397	821.7
Cash flows from investing activities:
Capital expenditures	(155.9)	(113.6)
Purchases of investments	(562.2)	(1,234.8)
Proceeds from sales and maturities of investments	1,161.5	714.7
Other investing activities	(5.2)	(2.1)
Net cash provided by (used in) investing activities	438.2	(635.8)
Cash flows from financing activities:
Repayments of long-term debt	(500)	0
Payments of finance lease obligations	(15.9)	(16.8)
Payments of dividends	(148.8)	(101.1)
Repurchases of common stock, including shares surrendered for tax withholdings	(445.8)	(340.4)
Net cash used in financing activities	(1,110.5)	(458.3)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(23.2)	(30.2)
Net decrease in cash, cash equivalents, and restricted cash	(298.5)	(302.6)
Cash, cash equivalents, and restricted cash at beginning of period	1,872	2,588
Cash, cash equivalents, and restricted cash at end of period	$ 1,573.5	$ 2,285.4

Consolidated Statements of Equi

Consolidated Statements of Equity (Unaudited) - USD ($) shares in Millions, $ in Millions		Total	Common Stock [Member]		Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	AOCI [Member]
Beginning balance, shares at Mar. 27, 2021			131	[1]			57.8
Beginning balance at Mar. 27, 2021		$ 2,604.4	$ 1.3	[1]	$ 2,667.1	$ 5,872.9	$ (5,816.1)	$ (120.8)	[2]
Comprehensive Income
Net income		575.7				575.7
Other comprehensive income (loss)		(29.4)						(29.4)	[2]
Total comprehensive income		546.3
Dividends declared		(150)				(150)
Repurchases of common stock, shares							2.8
Repurchases of common stock		(340.4)					$ (340.4)
Stock-based compensation		62.6			62.6
Shares issued pursuant to stock-based compensation plans, shares	[1]		0.8
Shares issued pursuant to stock-based compensation plans		0	$ 0	[1]	0
Ending balance, shares at Dec. 25, 2021			131.8	[1]			60.6
Ending balance at Dec. 25, 2021		2,722.9	$ 1.3	[1]	2,729.7	6,298.6	$ (6,156.5)	(150.2)	[2]
Beginning balance, shares at Sep. 25, 2021			131.8				58.1
Beginning balance at Sep. 25, 2021		2,862.8	$ 1.3		2,707.7	6,129.8	$ (5,856)	(120)
Comprehensive Income
Net income		217.7				217.7
Other comprehensive income (loss)		(30.2)						(30.2)
Total comprehensive income		187.5
Dividends declared		(48.9)				(48.9)
Repurchases of common stock, shares							2.5
Repurchases of common stock		(300.5)					$ (300.5)
Stock-based compensation		22			22
Shares issued pursuant to stock-based compensation plans, shares			0
Shares issued pursuant to stock-based compensation plans		0	$ 0		0
Ending balance, shares at Dec. 25, 2021			131.8	[1]			60.6
Ending balance at Dec. 25, 2021		2,722.9	$ 1.3	[1]	2,729.7	6,298.6	$ (6,156.5)	(150.2)	[2]
Beginning balance, shares at Apr. 02, 2022			131.8	[1]			61.9
Beginning balance at Apr. 02, 2022		2,536	$ 1.3	[1]	2,748.8	6,274.9	$ (6,308.7)	(180.3)	[2]
Comprehensive Income
Net income		490.4				490.4
Other comprehensive income (loss)		(22.5)						(22.5)	[2]
Total comprehensive income		467.9
Dividends declared		(150.2)				(150.2)
Repurchases of common stock, shares							4.7
Repurchases of common stock		(445.8)					$ (445.8)
Stock-based compensation		59.9			59.9
Shares issued pursuant to stock-based compensation plans, shares	[1]		0.8
Shares issued pursuant to stock-based compensation plans		0	$ 0	[1]	0
Ending balance, shares at Dec. 31, 2022			132.6	[1]			66.6
Ending balance at Dec. 31, 2022		2,467.8	$ 1.3	[1]	2,808.7	6,615.1	$ (6,754.5)	(202.8)	[2]
Beginning balance, shares at Oct. 01, 2022			132.6				66.3
Beginning balance at Oct. 01, 2022		2,255.6	$ 1.3		2,789.5	6,448.1	$ (6,726)	(257.3)
Comprehensive Income
Net income		216.5				216.5
Other comprehensive income (loss)		54.5						54.5
Total comprehensive income		271
Dividends declared		(49.5)				(49.5)
Repurchases of common stock, shares							0.3
Repurchases of common stock		(28.5)					$ (28.5)
Stock-based compensation		19.2			19.2
Shares issued pursuant to stock-based compensation plans, shares			0
Shares issued pursuant to stock-based compensation plans		0	$ 0		0
Ending balance, shares at Dec. 31, 2022			132.6	[1]			66.6
Ending balance at Dec. 31, 2022		$ 2,467.8	$ 1.3	[1]	$ 2,808.7	$ 6,615.1	$ (6,754.5)	$ (202.8)	[2]

[1]Includes Class A and Class B common stock.[2]Accumulated other comprehensive income (loss).

Description of Business

Description of Business	9 Months Ended
Description of Business	Dec. 31, 2022
Description of Business [Abstract]
Description of Business	Description of Business Ralph Lauren Corporation ("RLC") is a global leader in the design, marketing, and distribution of luxury lifestyle products, including apparel, footwear & accessories, home, fragrances, and hospitality. RLC's long-standing reputation and distinctive image have been developed across a wide range of products, brands, distribution channels, and international markets. RLC's brand names include Ralph Lauren, Ralph Lauren Collection, Ralph Lauren Purple Label, Polo Ralph Lauren, Double RL, Lauren Ralph Lauren, Polo Ralph Lauren Children, and Chaps, among others. RLC and its subsidiaries are collectively referred to herein as the "Company," "we," "us," "our," and "ourselves," unless the context indicates otherwise. The Company diversifies its business by geography (North America, Europe, and Asia, among other regions) and channel of distribution (retail, wholesale, and licensing). This allows the Company to maintain a dynamic balance as its operating results do not depend solely on the performance of any single geographic area or channel of distribution. The Company sells directly to consumers through its integrated retail channel, which includes its retail stores, concession-based shop-within-shops, and digital commerce operations around the world. The Company's wholesale sales are made principally to major department stores, specialty stores, and third-party digital partners around the world, as well as to certain third-party-owned stores to which the Company has licensed the right to operate in defined geographic territories using its trademarks. In addition, the Company licenses to third parties for specified periods the right to access its various trademarks in connection with the licensees' manufacture and sale of designated products, such as certain apparel, eyewear, fragrances, and home. The Company organizes its business into the following three reportable segments: North America, Europe, and Asia. In addition to these reportable segments, the Company also has other non-reportable segments. See Note 17 for further discussion of the Company's segment reporting structure.

Basis of Presentation

Basis of Presentation	9 Months Ended
Basis of Presentation	Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Interim Financial Statements These interim consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the "SEC") and are unaudited. In the opinion of management, these consolidated financial statements contain all normal and recurring adjustments necessary to present fairly the consolidated financial position, income (loss), comprehensive income (loss), and cash flows of the Company for the interim periods presented. In addition, certain information and disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the U.S. ("U.S. GAAP") and the notes thereto have been condensed or omitted from this report as is permitted by the SEC's rules and regulations. However, the Company believes that the disclosures provided herein are adequate to prevent the information presented from being misleading. This report should be read in conjunction with the Company's Annual Report on Form 10-K filed with the SEC for the fiscal year ended April 2, 2022 (the "Fiscal 2022 10-K"). Basis of Consolidation These unaudited interim consolidated financial statements present the consolidated financial position, income (loss), comprehensive income (loss), and cash flows of the Company, including all entities in which the Company has a controlling financial interest and is determined to be the primary beneficiary. All significant intercompany balances and transactions have been eliminated in consolidation. Additionally, as discussed in Note 8, the Company completed the sale of its Club Monaco business at the end of its first quarter of Fiscal 2022 (as defined below) on June 26, 2021. As a result, assets and liabilities related to the Club Monaco business were deconsolidated from the consolidated statement of financial position effective June 26, 2021, with Club Monaco's operating results included in the consolidated statements of income (loss), comprehensive income (loss), and cash flows through the end of the first quarter of Fiscal 2022. Financial statements issued prior to this transaction were not affected.
Basis of Presentation (cont.)	Fiscal Periods The Company utilizes a 52-53 week fiscal year ending on the Saturday immediately before or after March 31. As such, fiscal year 2023 will end on April 1, 2023 and will be a 52-week period ("Fiscal 2023"). Fiscal year 2022 ended on April 2, 2022 and was a 53-week period ("Fiscal 2022"). The third quarter of Fiscal 2023 ended on December 31, 2022 and was a 13-week period. The third quarter of Fiscal 2022 ended on December 25, 2021 and was also a 13-week period. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and notes thereto. Actual results could differ materially from those estimates. Significant estimates inherent in the preparation of the consolidated financial statements include reserves for bad debt, customer returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances; the realizability of inventory; reserves for litigation and other contingencies; useful lives and impairments of long-lived tangible and intangible assets; fair value measurements; accounting for income taxes and related uncertain tax positions; valuation of stock-based compensation awards and related forfeiture rates; and reserves for restructuring activity, among others. Reclassifications Certain reclassifications have been made to the prior periods' financial information in order to conform to the current period's presentation. Seasonality of Business The Company's business is typically affected by seasonal trends, with higher levels of retail sales in its second and third fiscal quarters and higher wholesale sales in its second and fourth fiscal quarters. These trends result primarily from the timing of key vacation travel, back-to-school, and holiday shopping periods impacting its retail business and the timing of seasonal wholesale shipments. As a result of changes in its business, consumer spending patterns, and the macroeconomic environment, including those resulting from pandemic diseases and other catastrophic events, historical quarterly operating trends and working capital requirements may not be indicative of the Company's future performance. In addition, fluctuations in sales, operating income (loss), and cash flows in any fiscal quarter may be affected by other events affecting retail sales, such as changes in weather patterns. Accordingly, the Company's operating results and cash flows for the three-month and nine-month periods ended December 31, 2022 are not necessarily indicative of the operating results and cash flows that may be expected for the full Fiscal 2023. COVID-19 Pandemic Beginning in the fourth quarter of the Company's fiscal year ended March 28, 2020 ("Fiscal 2020"), a novel strain of coronavirus commonly referred to as COVID-19 emerged and spread rapidly across the globe, including throughout all major geographies in which the Company operates, resulting in adverse economic conditions and widespread business disruptions. Since then, governments worldwide have periodically imposed varying degrees of preventative and protective actions, such as temporary travel bans, forced business closures, and stay-at-home orders, all in an effort to reduce the spread of the virus. As a result of the COVID-19 pandemic, the Company has experienced varying degrees of business disruptions since its beginning, including periods of closure of its stores and corporate-related facilities, as have the Company's wholesale customers, licensing partners, and suppliers. Such disruptions continued throughout Fiscal 2022 in certain regions, although to a lesser extent than the widespread significant disruptions experienced during the Company's fiscal year ended March 27, 2021 ("Fiscal 2021"), and have since extended into Fiscal 2023, most notably in Asia where approximately 50% of the Company's stores in China experienced closures for a significant portion of the first quarter, followed by sporadic closures during the second quarter impacting approximately 35% of the Company's mainland stores. Further, throughout the course of the pandemic, the majority of the Company's stores that were able to remain open have periodically been subject to limited operating hours and/or customer capacity levels in accordance with local health guidelines, as well as reduced staffing, with traffic remaining challenged. Most recently, more than 90% of the Company's mainland China stores were impacted during the third quarter by some form of closure, restricted operating hours, or reduced staffing due to higher levels of infection rates following China's relaxation of its zero-COVID policy. However, the Company's digital commerce operations have grown significantly from pre-pandemic levels, due in part to its investments and enhanced capabilities, as well as changes in consumer shopping preferences. The COVID-19 pandemic also continues to adversely impact the Company's distribution, logistic, and sourcing partners, including temporary factory closures, labor shortages, vessel, container and other transportation shortages, and port congestion. Such disruptions have reduced the availability of inventory, delayed timing of inventory receipts, and resulted in increased costs for both the purchase and transportation of such inventory. Despite the development of COVID-19 vaccines, the pandemic remains volatile and continues to evolve, with resurgences and outbreaks occurring in various parts of the world, including those resulting from variants of the virus. Accordingly, the Company cannot predict for how long and to what extent the pandemic will continue to impact its business operations or the overall global economy. The Company will continue to assess its operations location-by-location, considering the guidance of local governments and global health organizations.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Revenue Recognition The Company recognizes revenue across all channels of the business when it satisfies its performance obligations by transferring control of promised products or services to its customers, which occurs either at a point in time or over time, depending on when the customer obtains the ability to direct the use of and obtain substantially all of the remaining benefits from the products or services. The amount of revenue recognized considers terms of sale that create variability in the amount of consideration that the Company ultimately expects to be entitled to in exchange for the products or services, and is subject to an overall constraint that a significant revenue reversal will not occur in future periods. Sales and other related taxes collected from customers and remitted to government authorities are excluded from revenue. Revenue from the Company's retail business is recognized when the customer takes physical possession of the products, which occurs either at the point of sale for merchandise purchased at the Company's own retail stores and shop-within-shop locations, or upon receipt of shipment for merchandise ordered through direct-to-consumer digital commerce sites. Such revenues are recorded net of estimated returns based on historical trends. Payment is due at the point of sale. Gift cards purchased by customers are recorded as a liability until they are redeemed for products sold by the Company's retail business, at which point revenue is recognized. The Company also estimates and recognizes revenue for gift card balances not expected to ever be redeemed (referred to as "breakage") to the extent that it does not have a legal obligation to remit the value of such unredeemed gift cards to the relevant jurisdiction as unclaimed or abandoned property. Such estimates are based upon historical redemption trends, with breakage income recognized in proportion to the pattern of actual customer redemptions. Revenue from the Company's wholesale business is generally recognized upon shipment of products, at which point title passes and risk of loss is transferred to the customer. In certain arrangements where the Company retains the risk of loss during shipment, revenue is recognized upon receipt of products by the customer. Wholesale revenue is recorded net of estimates of returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances. Returns and allowances require pre-approval from management and discounts are based on trade terms. Estimates for end-of-season markdown reserves are based on historical trends, actual and forecasted seasonal results, an evaluation of current economic and market conditions, retailer performance, and, in certain cases, contractual terms. Estimates for operational chargebacks are based on actual customer notifications of order fulfillment discrepancies and historical trends. The Company reviews and refines these estimates on at least a quarterly basis. The Company's historical estimates of these amounts have not differed materially from actual results. Revenue from the Company's licensing arrangements is recognized over time during the period that licensees are provided access to the Company's trademarks (i.e., symbolic intellectual property) and benefit from such access through their own sales of licensed products. These arrangements require licensees to pay a sales-based royalty, which for most arrangements, may be subject to a contractually-guaranteed minimum royalty amount. Payments are generally due quarterly and, depending on time of receipt, may be recorded as a liability until recognized as revenue. The Company recognizes revenue for sales-based royalty arrangements (including those for which the royalty exceeds any contractually-guaranteed minimum royalty amount) as licensed products are sold by the licensee. If a sales-based royalty is not ultimately expected to exceed a contractually-guaranteed minimum royalty amount, the minimum is generally recognized as revenue ratably over the respective contractual period. This sales-based output measure of progress and pattern of recognition best represents the value transferred to the licensee over the term of the arrangement, as well as the amount of consideration that the Company is entitled to receive in exchange for providing access to its trademarks. As of December 31, 2022, contractually-guaranteed minimum royalty amounts expected to be recognized as revenue during future periods were as follows: Contractually-Guaranteed Minimum Royalties (a) (millions) Remainder of Fiscal 2023 $ 14.5 Fiscal 2024 98.9 Fiscal 2025 62.8 Fiscal 2026 44.0 Fiscal 2027 40.7 Fiscal 2028 and thereafter 11.3 Total $ 272.2 (a) Amounts presented do not contemplate potential contract renewals or royalties earned in excess of the contractually-guaranteed minimums. Disaggregated Net Revenues The following tables disaggregate the Company's net revenues into categories that depict how the nature, amount, timing, and uncertainty of revenues and cash flows are affected by economic factors for the fiscal periods presented: Three Months Ended December 31, 2022 December 25, 2021 North America Europe Asia Other Total North America Europe Asia Other Total (millions) Sales Channel (a) : Retail $ 653.5 $ 254.9 $ 361.5 $ — $ 1,269.9 $ 638.4 $ 246.4 $ 364.2 $ — $ 1,249.0 Wholesale 284.1 214.4 24.7 — 523.2 290.3 216.5 18.4 0.2 525.4 Licensing — — — 39.2 39.2 — — — 41.0 41.0 Total $ 937.6 $ 469.3 $ 386.2 $ 39.2 $ 1,832.3 $ 928.7 $ 462.9 $ 382.6 $ 41.2 $ 1,815.4 Nine Months Ended December 31, 2022 December 25, 2021 North America Europe Asia Other Total North America Europe Asia Other Total (millions) Sales Channel (a) : Retail $ 1,515.3 $ 675.6 $ 963.6 $ — $ 3,154.5 $ 1,472.5 $ 646.7 $ 885.4 $ 27.2 $ 3,031.8 Wholesale 849.6 702.8 73.1 — 1,625.5 821.4 666.6 55.3 5.5 1,548.8 Licensing — — — 122.8 122.8 — — — 115.2 115.2 Total $ 2,364.9 $ 1,378.4 $ 1,036.7 $ 122.8 $ 4,902.8 $ 2,293.9 $ 1,313.3 $ 940.7 $ 147.9 $ 4,695.8 (a) Net revenues from the Company's retail and wholesale businesses are recognized at a point in time. Net revenues from the Company's licensing business are recognized over time. Deferred Income Deferred income represents cash payments received in advance of the Company's transfer of control of products or services to its customers and generally consists of unredeemed gift cards (net of breakage) and advance royalty payments from licensees. The Company's deferred income balances were $22.0 million and $16.6 million as of December 31, 2022 and April 2, 2022, respectively, and were primarily recorded within accrued expenses and other current liabilities within the consolidated balance sheets. The majority of the deferred income balance as of December 31, 2022 is expected to be recognized as revenue within the next twelve months. Shipping and Handling Costs Costs associated with shipping goods to customers are accounted for as fulfillment activities and reflected as selling, general, and administrative ("SG&A") expenses in the consolidated statements of operations. Costs of preparing merchandise for sale, such as picking, packing, warehousing, and order charges ("handling costs"), are also included in SG&A expenses. Shipping and handling costs billed to customers are included in revenue. A summary of shipping and handling costs for the fiscal periods presented is as follows: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Shipping costs $ 25.7 $ 24.1 $ 60.7 $ 52.9 Handling costs 51.5 43.4 128.2 113.6 Net Income per Common Share Basic net income per common share is computed by dividing net income attributable to common shares by the weighted-average number of common shares outstanding during the period. Weighted-average common shares include shares of the Company's Class A and Class B common stock. Diluted net income per common share adjusts basic net income per common share for the dilutive effects of outstanding restricted stock units ("RSUs"), stock options, and any other potentially dilutive instruments, only for the periods in which such effects are dilutive. The weighted-average number of common shares outstanding used to calculate basic net income per common share is reconciled to shares used to calculate diluted net income per common share as follows: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Basic shares 66.5 73.2 68.2 73.7 Dilutive effect of RSUs and stock options 1.1 1.1 1.2 1.3 Diluted shares 67.6 74.3 69.4 75.0 All earnings per share amounts have been calculated using unrounded numbers. The Company has outstanding performance-based RSUs, which are included in the computation of diluted shares only to the extent that the underlying performance conditions (i) have been satisfied as of the end of the reporting period or (ii) would be considered satisfied if the end of the reporting period were the end of the related contingency period and the result would be dilutive. In addition, options to purchase shares of the Company's Class A common stock at an exercise price greater than the average market price of such common stock during the reporting period are anti-dilutive and therefore not included in the computation of diluted net income per common share. As of December 31, 2022 and December 25, 2021, there were 0.3 million and 0.4 million, respectively, of additional shares issuable contingent upon vesting of performance-based RSUs that were excluded from the diluted shares calculations. Accounts Receivable In the normal course of business, the Company extends credit to wholesale customers that satisfy certain defined credit criteria. Payment is generally due within 30 to 120 days and does not involve a significant financing component. Accounts receivable are recorded at amortized cost, which approximates fair value, and are presented in the consolidated balance sheets net of certain reserves and allowances. These reserves and allowances consist of (i) reserves for returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances (see the " Revenue Recognition " section above for further discussion of related accounting policies) and (ii) allowances for doubtful accounts. A rollforward of the activity in the Company's reserves for returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances is presented as follows: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Beginning reserve balance $ 166.8 $ 184.8 $ 180.7 $ 173.7 Amount charged against revenue to increase reserve 96.6 101.1 298.8 289.8 Amount credited against customer accounts to decrease reserve (114.2) (106.0) (316.9) (283.2) Foreign currency translation 7.5 (4.3) (5.9) (4.7) Ending reserve balance $ 156.7 $ 175.6 $ 156.7 $ 175.6 An allowance for doubtful accounts is determined through analysis of accounts receivable aging, assessments of collectability based on evaluation of historical trends, the financial condition of the Company's customers and their ability to withstand prolonged periods of adverse economic conditions, and evaluation of the impact of current and forecasted economic and market conditions over the related asset's contractual life, among other factors. A rollforward of the activity in the Company's allowance for doubtful accounts is presented as follows: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Beginning reserve balance $ 27.7 $ 37.9 $ 34.0 $ 40.1 Amount recorded to expense to increase (decrease) reserve (a) (0.4) (1.8) 0.2 (2.7) Amount written-off against customer accounts to decrease reserve (0.6) (0.5) (5.5) (1.8) Foreign currency translation 1.0 (0.7) (1.0) (0.7) Ending reserve balance $ 27.7 $ 34.9 $ 27.7 $ 34.9 (a) Amounts recorded to bad debt expense are included within SG&A expenses in the consolidated statements of operations. Concentration of Credit Risk The Company sells its wholesale merchandise primarily to major department stores, specialty stores, and third-party digital partners around the world, and extends credit based on an evaluation of each customer's financial capacity and condition, usually without requiring collateral. In the Company's wholesale business, concentration of credit risk is relatively limited due to the large number of customers and their dispersion across many geographic areas. However, the Company has three key wholesale customers that generate significant sales volume. During Fiscal 2022, the Company's sales to its three largest wholesale customers accounted for approximately 16% of total net revenues. Substantially all of the Company's sales to its three largest wholesale customers related to its North America segment. As of December 31, 2022, these three key wholesale customers accounted for approximately 29% of total gross accounts receivable. Inventories The Company holds inventory that is sold in its retail stores and digital commerce sites directly to consumers. The Company also holds inventory that is to be sold through wholesale distribution channels to major department stores, specialty stores, and third-party digital partners. Substantially all of the Company's inventories consist of finished goods, which are stated at the lower of cost or estimated realizable value, with cost determined on a weighted-average cost basis. Inventory held by the Company totaled $1.238 billion, $977.3 million, and $929.1 million as of December 31, 2022, April 2, 2022, and December 25, 2021, respectively. Derivative Financial Instruments The Company records derivative financial instruments on its consolidated balance sheets at fair value. Changes in the fair value of derivative instruments that are designated and qualify for hedge accounting are either (i) offset through earnings against the changes in fair value of the related hedged assets, liabilities, or firm commitments or (ii) recognized in equity as a component of accumulated other comprehensive income (loss) ("AOCI") until the hedged item is recognized in earnings, depending on whether the instrument is hedging against changes in fair value or cash flows and net investments, respectively. Each derivative instrument that qualifies for hedge accounting is expected to be highly effective in offsetting the risk associated with the related exposure. For each instrument that is designated as a hedge, the Company documents the related risk management objective and strategy, including identification of the hedging instrument, the hedged item, and the risk exposure, as well as how hedge effectiveness will be assessed over the instrument's term. To assess hedge effectiveness at the inception of a hedging relationship, the Company generally uses regression analysis, a statistical method, to evaluate how changes in the fair value of the derivative instrument are expected to offset changes in the fair value or cash flows of the related hedged item. The extent to which a hedging instrument has been and is expected to remain highly effective in achieving offsetting changes in fair value or cash flows is assessed by the Company on at least a quarterly basis. Given its use of derivative instruments, the Company is exposed to the risk that counterparties to such contracts will fail to meet their contractual obligations. To mitigate such counterparty credit risk, the Company's policy is to only enter into contracts with carefully selected financial institutions based upon an evaluation of their credit ratings and certain other factors, adhering to established limits for credit exposure. The Company's established policies and procedures for mitigating credit risk include ongoing review and assessment of its counterparties' creditworthiness. The Company also enters into master netting arrangements with counterparties, when possible, to further mitigate credit risk. In the event of default or termination, these arrangements allow the Company to net-settle amounts payable and receivable related to multiple derivative transactions with the same counterparty. The master netting arrangements specify a number of events of default and termination, including the failure to make timely payments. The fair values of the Company's derivative instruments are recorded on its consolidated balance sheets on a gross basis. For cash flow reporting purposes, proceeds received or amounts paid upon the settlement of a derivative instrument are classified in the same manner as the related item being hedged, primarily within cash flows from operating activities for its forward foreign exchange contracts and within cash flows from investing activities for its cross-currency swap contracts, both as discussed below. Cash Flow Hedges The Company uses forward foreign currency exchange contracts to mitigate its risk related to exchange rate fluctuations on inventory transactions made in an entity's non-functional currency. To the extent designated as cash flow hedges, related gains or losses on such instruments are initially deferred in equity as a component of AOCI and are subsequently recognized within cost of goods sold in the consolidated statements of operations when the related inventory is sold. If a derivative instrument is dedesignated or if hedge accounting is discontinued because the instrument is not expected to be highly effective in hedging the designated exposure, any further gains (losses) are recognized in earnings each period within other income (expense), net. Upon discontinuance of hedge accounting, the cumulative change in fair value of the derivative instrument recorded in AOCI is recognized in earnings when the related hedged item affects earnings, consistent with the hedging strategy, unless the related forecasted transaction is probable of not occurring, in which case the accumulated amount is immediately recognized within other income (expense), net. Hedges of Net Investments in Foreign Operations The Company periodically uses cross-currency swap contracts to reduce risk associated with exchange rate fluctuations on certain of its net investments in foreign subsidiaries. Changes in the fair values of such derivative instruments that are designated as hedges of net investments in foreign operations are recorded in equity as a component of AOCI in the same manner as foreign currency translation adjustments. In assessing the effectiveness of such hedges, the Company uses a method based on changes in spot rates to measure the impact of foreign currency exchange rate fluctuations on both its foreign subsidiary net investment and the related hedging instrument. Under this method, changes in the fair value of the hedging instrument other than those due to changes in the spot rate are initially recorded in AOCI as a translation adjustment and are amortized into earnings as interest expense using a systematic and rational method over the instrument's term. Changes in fair value associated with the effective portion (i.e., those due to changes in the spot rate) are recorded in AOCI as a translation adjustment and are released and recognized in earnings only upon the sale or liquidation of the hedged net investment. Undesignated Hedges The Company uses undesignated hedges primarily to hedge foreign currency exchange rate risk related to third-party and intercompany balances and exposures. Changes in the fair values of such instruments are recognized in earnings each period within other income (expense), net. See Note 12 for further discussion of the Company's derivative financial instruments. Refer to Note 3 of the Fiscal 2022 10-K for a summary of all of the Company's significant accounting policies.

Recently Issued Accounting Stan

Recently Issued Accounting Standards	9 Months Ended
Recently Issued Accounting Standards	Dec. 31, 2022
Accounting Standards Update and Change in Accounting Principle [Abstract]
Recently Issued Accounting Standards	Recently Issued Accounting Standards Disclosure of Supplier Finance Program Obligations In September 2022, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2022-04, "Disclosure of Supplier Finance Program Obligations" ("ASU 2022-04"). ASU 2022-04 requires entities to disclose the key terms of supplier finance programs they use in connection with the purchase of goods and services, along with the amount of obligations outstanding at the end of each period and an annual rollforward of such obligations. This standard does not affect the recognition, measurement, or financial statement presentation of supplier finance program obligations. ASU 2022-04 is effective for the Company beginning in its fiscal year ending March 30, 2024 ("Fiscal 2024") and is to be applied retrospectively to all periods in which a balance sheet is presented. The annual rollforward disclosure is not required to be made until its fiscal year ending March 29, 2025 ("Fiscal 2025") and is to be applied prospectively. Early adoption is permitted. Other than the new disclosure requirements, ASU 2022-04 will not have an impact on the Company's consolidated financial statements. Reference Rate Reform In March 2020, the FASB issued ASU No. 2020-04, "Facilitation of the Effects of Reference Rate Reform on Financial Reporting" along with certain other ASUs that were subsequently issued to clarify and modify certain of its provisions (collectively "ASU 2020-04"). ASU 2020-04 provides temporary optional expedients and exceptions for the application of U.S. GAAP, if certain criteria are met, to contract modifications, hedging relationships, and other arrangements that are expected to be impacted by the global transition away from certain reference rates, such as the London Interbank Offered Rate ("LIBOR") and other interbank offered rates, towards new reference rates, such as the Secured Overnight Financing Rate ("SOFR"). The guidance in ASU 2020-04 was effective upon issuance and, once adopted, may be applied prospectively to contract modifications and hedging relationships through December 31, 2024. The Company is evaluating the impact that the guidance will have on its consolidated financial statements and related disclosures, if adopted, and currently does not expect that it would be material.

Property and Equipment

Property and Equipment	9 Months Ended
Property and Equipment	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property and Equipment	Property and Equipment Property and equipment, net consists of the following: December 31, April 2, (millions) Land and improvements $ 15.3 $ 15.3 Buildings and improvements 470.3 480.4 Furniture and fixtures 598.4 589.6 Machinery and equipment 381.7 375.7 Capitalized software 544.9 532.1 Leasehold improvements 1,206.6 1,170.1 Construction in progress 54.3 55.4 3,271.5 3,218.6 Less: accumulated depreciation (2,324.0) (2,249.1) Property and equipment, net $ 947.5 $ 969.5 Property and equipment, net includes finance lease right-of-use ("ROU") assets, which are reflected in the table above based on their nature. Depreciation expense was $51.7 million and $152.7 million during the three-month and nine-month periods ended December 31, 2022, respectively, and $51.8 million and $156.0 million during the three-month and nine-month periods ended December 25, 2021, respectively, and was recorded primarily within SG&A expenses in the consolidated statements of operations.

Other Assets and Liabilities

Other Assets and Liabilities	9 Months Ended
Other Assets and Liabilities	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Other Assets and Liabilities	Other Assets and Liabilities Prepaid expenses and other current assets consist of the following: December 31, April 2, (millions) Other taxes receivable $ 49.8 $ 26.2 Non-trade receivables 38.1 41.4 Prepaid software maintenance 21.3 16.4 Prepaid advertising and marketing 17.9 7.9 Inventory return asset 16.7 8.3 Tenant allowances receivable 8.0 6.1 Prepaid occupancy expense 6.6 6.0 Prepaid logistic services 6.4 6.6 Derivative financial instruments 6.3 8.7 Prepaid insurance 6.0 3.0 Cloud computing arrangement implementation costs 5.6 4.0 Other prepaid expenses and current assets 38.2 37.9 Total prepaid expenses and other current assets $ 220.9 $ 172.5 Other non-current assets consist of the following: December 31, April 2, (millions) Derivative financial instruments $ 50.0 $ 23.7 Security deposits 32.1 30.6 Equity method and other investments 10.5 12.0 Cloud computing arrangement implementation costs 9.8 9.7 Deferred rent assets 6.9 5.2 Restricted cash 6.0 6.6 Other non-current assets 19.7 23.4 Total other non-current assets $ 135.0 $ 111.2 Accrued expenses and other current liabilities consist of the following: December 31, April 2, (millions) Accrued inventory $ 271.4 $ 250.2 Accrued operating expenses 252.5 223.4 Accrued payroll and benefits 155.4 278.0 Other taxes payable 60.9 60.9 Dividends payable 49.5 48.1 Accrued capital expenditures 41.9 49.6 Deferred income 21.9 16.5 Finance lease obligations 19.9 19.8 Restructuring reserve 15.0 30.8 Other accrued expenses and current liabilities 10.1 14.1 Total accrued expenses and other current liabilities $ 898.5 $ 991.4 Other non-current liabilities consist of the following: December 31, April 2, (millions) Deferred lease incentives and obligations $ 45.5 $ 52.7 Accrued benefits and deferred compensation 15.2 12.0 Deferred tax liabilities 13.8 12.5 Derivative financial instruments — 18.1 Other non-current liabilities 37.0 36.6 Total other non-current liabilities $ 111.5 $ 131.9

Impairment of Assets

Impairment of Assets	9 Months Ended
Impairment of Assets	Dec. 31, 2022
Asset Impairment Charges [Abstract]
Impairment of Assets	Impairment of AssetsNo impairment charges were recorded during either of the three-month periods ended December 31, 2022 or December 25, 2021. During the nine-month periods ended December 31, 2022 and December 25, 2021, the Company recorded impairment charges of $0.2 million and $19.3 million, respectively, to write-down certain long-lived assets in connection with its restructuring plans (see Note 8).See Note 11 for further discussion of these impairment charges.

Restructuring and Other Charges

Restructuring and Other Charges	9 Months Ended
Restructuring and Other Charges	Dec. 31, 2022
Restructuring and Related Activities [Abstract]
Restructuring and Other Charges	Restructuring and Other Charges, Net A description of significant restructuring and other activities and their related costs is provided below. Fiscal 2021 Strategic Realignment Plan The Company has undertaken efforts to realign its resources to support future growth and profitability, and to create a sustainable, enhanced cost structure. The key areas of the Company's initiatives underlying these efforts involve evaluation of its: (i) team organizational structures and ways of working; (ii) real estate footprint and related costs across its corporate offices, distribution centers, and direct-to-consumer retail and wholesale doors; and (iii) brand portfolio. In connection with the first initiative, on September 17, 2020, the Company's Board of Directors approved a restructuring plan (the "Fiscal 2021 Strategic Realignment Plan") to reduce its global workforce. Additionally, during a preliminary review of its store portfolio during the second quarter of Fiscal 2021, the Company made the decision to close its Polo store on Regent Street in London. Shortly thereafter, on October 29, 2020, the Company announced the planned transition of its Chaps brand to a fully licensed business model, consistent with its long-term brand elevation strategy and in connection with its third initiative. Specifically, the Company entered into a multi-year licensing partnership, which took effect on August 1, 2021 following a transition period, with an affiliate of 5 Star Apparel LLC, a division of the OVED Group, to manufacture, market, and distribute Chaps menswear and womenswear. This agreement created incremental value for the Company by enabling an even greater focus on elevating its core brands in the marketplace, reducing its direct exposure to the North America department store channel, and setting up Chaps to deliver on its potential with an experienced partner that is focused on nurturing the brand. Later, on February 3, 2021, the Company's Board of Directors approved additional actions related to its real estate initiative. Specifically, the Company is in the process of further rightsizing and consolidating its global corporate offices to better align with its organizational profile and new ways of working. The Company also has closed, and may continue to close, certain of its stores to improve overall profitability. Additionally, the Company further consolidated its North America distribution centers in order to drive greater efficiencies, improve sustainability, and deliver a better consumer experience. Finally, on June 26, 2021, in connection with its brand portfolio initiative, the Company sold its former Club Monaco business to Regent, L.P. ("Regent"), a global private equity firm, with no resulting gain or loss on sale realized during the first quarter of Fiscal 2022. Regent acquired Club Monaco's assets and liabilities in exchange for potential future cash consideration payable to the Company, including earn-out payments based on Club Monaco meeting certain defined revenue thresholds over a five-year period. Accordingly, the Company has realized amounts related to the receipt of such contingent consideration (as discussed further below) and additional amounts may be realized in the future. Additionally, in connection with this divestiture, the Company provided Regent with certain operational support for a transitional period of approximately one year, varying by functional area. Actions associated with the Fiscal 2021 Strategic Realignment Plan were substantially completed by the end Fiscal 2022, with certain remaining actions expected to be completed during Fiscal 2023. The Company expects total charges of up to $300 million to be incurred in connection with this plan, consisting of cash-related charges of approximately $180 million and non-cash charges of approximately $120 million. A summary of the charges recorded in connection with the Fiscal 2021 Strategic Realignment Plan during the fiscal periods presented, as well as the cumulative charges recorded since its inception (inclusive of immaterial other restructuring-related charges previously recorded during the first quarter of Fiscal 2021), is as follows: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, Cumulative Charges (millions) Cash-related restructuring charges: Severance and benefit costs (reversals) $ — $ — $ — $ (3.9) $ 138.5 Other cash charges 0.8 1.9 2.9 6.3 25.5 Total cash-related restructuring charges 0.8 1.9 2.9 2.4 164.0 Non-cash charges: Impairment of assets (see Note 7) — — 0.2 19.3 90.9 Inventory-related charges (a) — — — — 8.3 Accelerated stock-based compensation expense (b) — — — 2.0 2.0 Other non-cash charges — — 3.3 — 3.3 Total non-cash charges — — 3.5 21.3 104.5 Total charges $ 0.8 $ 1.9 $ 6.4 $ 23.7 $ 268.5 (a) Inventory-related charges are recorded within cost of goods sold in the consolidated statements of operations. (b) Accelerated stock-based compensation expense, which was recorded within restructuring and other charges, net in the consolidated statements of operations, related to vesting provisions associated with certain separation agreements. In addition to the charges summarized in the table above, the Company recognized $3.1 million and $0.9 million of income within restructuring and other charges, net in the consolidated statements of operations during the third and fourth quarters of Fiscal 2022, respectively, primarily related to a certain revenue share clause in its agreement with Regent that entitled it to receive a portion of the sales generated by the Club Monaco business during a four-month business transition period. The Company donated this income to The Ralph Lauren Corporate Foundation, a non-profit, charitable foundation, which resulted in a related offsetting $4.0 million donation expense recorded within restructuring and other charges, net in the consolidated statements of operations during the fourth quarter of Fiscal 2022. Subsequently, during the second quarter of Fiscal 2023, the Company recognized an additional $3.5 million of income within restructuring and other charges, net in the consolidated statements of operations related to consideration received from Regent as a result of the Club Monaco business exceeding certain previously defined revenue thresholds over a specified time period. A summary of current period activity in the restructuring reserve related to the Fiscal 2021 Strategic Realignment Plan is as follows: Severance and Benefit Costs Other Cash Charges Total (millions) Balance at April 2, 2022 $ 30.6 $ 0.1 $ 30.7 Additions charged to expense — 2.9 2.9 Cash payments applied against reserve (15.8) (3.0) (18.8) Non-cash adjustments (0.4) — (0.4) Balance at December 31, 2022 $ 14.4 $ — $ 14.4 Other Charges The Company recorded other charges of $7.0 million and $17.6 million during the three-month and nine-month periods ended December 31, 2022, respectively, and $1.4 million and $7.3 million during the three-month and nine-month periods ended December 25, 2021, respectively, primarily related to rent and occupancy costs associated with certain previously exited real estate locations for which the related lease agreements have not yet expired.

Income Taxes

Income Taxes	9 Months Ended
Income Taxes	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Inflation Reduction Act of 2022 On August 16, 2022, President Biden signed the Inflation Reduction Act ("IRA") into law. The IRA enacted a 15% corporate minimum tax effective (subject to certain thresholds being met) that will be applicable to the Company beginning in its Fiscal 2024, a 1% excise tax on share repurchases made after December 31, 2022, and created and extended certain tax-related energy incentives. The Company does not currently expect that the tax-related provisions of the IRA will have a material impact on its consolidated financial statements. Effective Tax Rate The Company's effective tax rate, which is calculated by dividing each fiscal period's income tax benefit (provision) by pretax income (loss), was 22.8% and 23.7% during the three-month and nine-month periods ended December 31, 2022, respectively, and 21.4% and 20.6% during the three-month and nine-month periods ended December 25, 2021, respectively. The effective tax rate for the three-month and nine-month periods ended December 31, 2022 were higher than the U.S. federal statutory income tax rate of 21% primarily due to state taxes and the unfavorable impact of certain audit-related adjustments, partially offset by the favorable tax impact of earnings generated in lower taxed foreign jurisdictions versus the U.S. and favorable return to provision adjustments. The effective tax rate for the three months ended December 25, 2021 was slightly higher than the U.S. federal statutory income tax rate of 21% primarily due to state taxes, partially offset by the favorable impact of certain permanent adjustments. The effective tax rate for the nine months ended December 25, 2021 was slightly lower than the U.S. federal statutory income tax rate of 21% primarily due to the favorable tax impact of earnings generated in lower taxed foreign jurisdictions versus the U.S. Uncertain Income Tax Benefits The Company classifies interest and penalties related to unrecognized tax benefits as part of its income tax benefit (provision). The total amount of unrecognized tax benefits, including interest and penalties, was $97.4 million and $91.9 million as of December 31, 2022 and April 2, 2022, respectively, and was included within the non-current liability for unrecognized tax benefits in the consolidated balance sheets. The total amount of unrecognized tax benefits that, if recognized, would affect the Company's effective tax rate was $62.4 million and $60.1 million as of December 31, 2022 and April 2, 2022, respectively. Future Changes in Unrecognized Tax Benefits The total amount of unrecognized tax benefits relating to the Company's tax positions is subject to change based on future events including, but not limited to, settlements of ongoing tax audits and assessments and the expiration of applicable statutes of limitations. Although the outcomes and timing of such events are highly uncertain, the Company does not anticipate that the balance of gross unrecognized tax benefits, excluding interest and penalties, will change significantly during the next twelve months. However, changes in the occurrence, expected outcomes, and timing of such events could cause the Company's current estimate to change materially in the future. The Company files a consolidated U.S. federal income tax return, as well as tax returns in various state, local, and foreign jurisdictions. The Company is generally no longer subject to examinations by the relevant tax authorities for years prior to its fiscal year ended March 30, 2013.

Debt

Debt	9 Months Ended
Debt	Dec. 31, 2022
Debt Disclosure [Abstract]
Debt	Debt Debt consists of the following: December 31, April 2, (millions) $400 million 3.750% Senior Notes (a) $ 398.2 $ 397.7 $500 million 1.700% Senior Notes (b) — 499.8 $750 million 2.950% Senior Notes (c) 739.8 738.8 Total debt 1,138.0 1,636.3 Less: current portion of long-term debt — 499.8 Total long-term debt $ 1,138.0 $ 1,136.5 (a) The carrying value of the 3.750% Senior Notes is presented net of unamortized debt issuance costs and original issue discount of $1.8 million and $2.3 million as of December 31, 2022 and April 2, 2022, respectively. (b) The carrying value of the 1.700% Senior Notes is presented net of unamortized debt issuance costs and original issue discount of $0.2 million as of April 2, 2022. (c) The carrying value of the 2.950% Senior Notes is presented net of unamortized debt issuance costs and original issue discount of $10.2 million and $11.2 million as of December 31, 2022 and April 2, 2022, respectively. Senior Notes In August 2018, the Company completed a registered public debt offering and issued $400 million aggregate principal amount of unsecured senior notes due September 15, 2025, which bear interest at a fixed rate of 3.750%, payable semi-annually (the "3.750% Senior Notes"). The 3.750% Senior Notes were issued at a price equal to 99.521% of their principal amount. The proceeds from this offering were used for general corporate purposes, including repayment of the Company's previously outstanding $300 million principal amount of 2.125% unsecured senior notes that matured September 26, 2018. In June 2020, the Company completed another registered public debt offering and issued an additional $500 million aggregate principal amount of unsecured senior notes that were due and repaid on June 15, 2022 with cash on hand, which bore interest at a fixed rate of 1.700%, payable semi-annually (the "1.700% Senior Notes"), and $750 million aggregate principal amount of unsecured senior notes due June 15, 2030, which bear interest at a fixed rate of 2.950%, payable semi-annually (the "2.950% Senior Notes"). The 1.700% Senior Notes and 2.950% Senior Notes were issued at prices equal to 99.880% and 98.995% of their principal amounts, respectively. The proceeds from these offerings were used for general corporate purposes, which included the repayment of $475 million previously outstanding under the Company's Global Credit Facility (as defined below) on June 3, 2020 and repayment of its previously outstanding $300 million principal amount of 2.625% unsecured senior notes that matured August 18, 2020. The Company has the option to redeem the 3.750% Senior Notes and 2.950% Senior Notes (collectively, the "Senior Notes"), in whole or in part, at any time at a price equal to accrued and unpaid interest on the redemption date plus the greater of (i) 100% of the principal amount of the series of Senior Notes to be redeemed or (ii) the sum of the present value of Remaining Scheduled Payments, as defined in the supplemental indentures governing such Senior Notes (together with the indenture governing the Senior Notes, the "Indenture"). The Indenture contains certain covenants that restrict the Company's ability, subject to specified exceptions, to incur certain liens; enter into sale and leaseback transactions; consolidate or merge with another party; or sell, lease, or convey all or substantially all of the Company's property or assets to another party. However, the Indenture does not contain any financial covenants. Commercial Paper The Company has a commercial paper borrowing program that allows it to issue up to $500 million of unsecured commercial paper notes through private placement using third-party broker-dealers (the "Commercial Paper Program"). Borrowings under the Commercial Paper Program are supported by the Global Credit Facility (as defined below). Accordingly, the Company does not expect combined borrowings outstanding under the Commercial Paper Program and Global Credit Facility to exceed $500 million. Commercial Paper Program borrowings may be used to support the Company's general working capital and corporate needs. Maturities of commercial paper notes vary, but cannot exceed 397 days from the date of issuance. Commercial paper notes issued under the Commercial Paper Program rank equally in seniority with the Company's other forms of unsecured indebtedness. As of both December 31, 2022 and April 2, 2022, there were no borrowings outstanding under the Commercial Paper Program. Revolving Credit Facilities Global Credit Facility In August 2019, the Company replaced its then existing credit facility and entered into a new credit facility that provides for a $500 million senior unsecured revolving line of credit through August 12, 2024 (the "Global Credit Facility") under terms and conditions substantially similar to those of the previous facility. The Global Credit Facility is also used to support the issuance of letters of credit and maintenance of the Commercial Paper Program. Borrowings under the Global Credit Facility may be denominated in U.S. Dollars and certain other currencies, including Euros, Hong Kong Dollars, and Japanese Yen, and are guaranteed by all of the Company's domestic significant subsidiaries. In accordance with the terms of the agreement governing the Global Credit Facility, the Company has the ability to expand its borrowing availability under the Global Credit Facility to $1 billion, subject to the agreement of one or more new or existing lenders under the facility to increase their commitments. There are no mandatory reductions in borrowing ability throughout the term of the Global Credit Facility. Since August 2019, the Company entered into several amendments of its Global Credit Facility, including one amendment that temporarily eased certain preexisting requirements and imposed certain new restrictions in response to the COVID-19 pandemic (all of which have since been lifted), and other amendments related to the cessation of LIBOR. Refer to Note 11 of the Fiscal 2022 10-K for additional discussion regarding such amendments. As of both December 31, 2022 and April 2, 2022, there were no borrowings outstanding under the Global Credit Facility. However, the Company was contingently liable for $8.8 million and $9.5 million of outstanding letters of credit as of December 31, 2022 and April 2, 2022, respectively. The Global Credit Facility contains a number of covenants that, among other things, restrict the Company's ability, subject to specified exceptions, to incur additional debt; incur liens; sell or dispose of assets; merge with or acquire other companies; liquidate or dissolve itself; engage in businesses that are not in a related line of business; make loans, advances, or guarantees; engage in transactions with affiliates; and make certain investments. The Global Credit Facility also requires the Company to maintain a maximum ratio of Adjusted Debt to Consolidated EBITDAR (the "leverage ratio") of no greater than 4.25 as of the date of measurement for the four most recent consecutive fiscal quarters. Adjusted Debt is defined generally as consolidated debt outstanding, including finance lease obligations, plus all operating lease obligations. Consolidated EBITDAR is defined generally as consolidated net income plus (i) income tax expense, (ii) net interest expense, (iii) depreciation and amortization expense, (iv) operating lease cost, (v) restructuring and other non-recurring expenses, and (vi) acquisition-related costs. As of December 31, 2022, no Event of Default (as such term is defined pursuant to the Global Credit Facility) has occurred under the Company's Global Credit Facility. Pan-Asia Borrowing Facilities Certain of the Company's subsidiaries in Asia have uncommitted credit facilities with regional branches of JPMorgan Chase in China and South Korea (the "Pan-Asia Credit Facilities"). Additionally, the Company's Japan and China subsidiaries have uncommitted overdraft facilities with Sumitomo Mitsui Banking Corporation and HSBC Bank Company Limited, respectively, (the "Pan-Asia Overdraft Facilities"). The Pan-Asia Credit Facilities and the Pan-Asia Overdraft Facilities (collectively, the "Pan-Asia Borrowing Facilities") are subject to annual renewal and may be used to fund general working capital needs of the Company's operations in the respective countries. Borrowings under the Pan-Asia Borrowing Facilities are guaranteed by the parent company and are granted at the sole discretion of the respective banks, subject to availability of the banks' funds and satisfaction of certain regulatory requirements. The Pan-Asia Borrowing Facilities do not contain any financial covenants. A summary of the Company's Pan-Asia Borrowing Facilities by country is as follows: • China Credit Facility — provides Ralph Lauren Trading (Shanghai) Co., Ltd. with a revolving line of credit of up to 100 million Chinese Renminbi (approximately $14 million) through April 3, 2023, which is also able to be used to support bank guarantees. • South Korea Credit Facility — provides Ralph Lauren (Korea) Ltd. with a revolving line of credit of up to 30 billion South Korean Won (approximately $23 million) through October 27, 2023. • Japan Overdraft Facility — provides Ralph Lauren Corporation Japan with an overdraft amount of up to 5 billion Japanese Yen (approximately $37 million) through April 28, 2023. • China Overdraft Facility — provides Ralph Lauren Trading (Shanghai) Co., Ltd. with an overdraft amount of up to 100 million Chinese Renminbi (approximately $14 million) through June 17, 2023. As of both December 31, 2022 and April 2, 2022, there were no borrowings outstanding under the Pan-Asia Borrowing Facilities. Refer to Note 11 of the Fiscal 2022 10-K for additional discussion of the terms and conditions of the Company's debt and credit facilities.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
Fair Value Measurements	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements U.S. GAAP prescribes a three-level valuation hierarchy for disclosure of fair value measurements. The determination of the applicable level within the hierarchy for a particular asset or liability depends on the inputs used in its valuation as of the measurement date, notably the extent to which the inputs are market-based (observable) or internally-derived (unobservable). A financial instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows: • Level 1 — inputs to the valuation methodology based on quoted prices (unadjusted) for identical assets or liabilities in active markets. • Level 2 — inputs to the valuation methodology based on quoted prices for similar assets or liabilities in active markets for substantially the full term of the financial instrument; quoted prices for identical or similar instruments in markets that are not active for substantially the full term of the financial instrument; and model-derived valuations whose inputs or significant value drivers are observable. • Level 3 — inputs to the valuation methodology based on unobservable prices or valuation techniques that are significant to the fair value measurement. The following table summarizes the Company's financial assets and liabilities that are measured and recorded at fair value on a recurring basis, excluding accrued interest components: December 31, April 2, (millions) Derivative assets (a) $ 56.3 $ 32.4 Derivative liabilities (a) 2.4 18.3 (a) Based on Level 2 measurements. The Company's derivative financial instruments are recorded at fair value in its consolidated balance sheets and are valued using pricing models that are primarily based on market observable external inputs, including spot and forward currency exchange rates, benchmark interest rates, and discount rates consistent with the instrument's tenor, and consider the impact of the Company's own credit risk, if any. Changes in counterparty credit risk are also considered in the valuation of derivative financial instruments. To the extent the Company invests in commercial paper, such investments are classified as available-for-sale and recorded at fair value in its consolidated balance sheets using external pricing data, based on interest rates and credit ratings for similar issuances with the same remaining term as the Company's investments. To the extent the Company invests in bonds, such investments are also classified as available-for-sale and recorded at fair value in its consolidated balance sheets based on quoted prices in active markets. The Company's cash and cash equivalents, restricted cash, and time deposits are recorded at carrying value, which generally approximates fair value based on Level 1 measurements. The Company's debt instruments are recorded at their amortized cost in its consolidated balance sheets, which may differ from their respective fair values. The fair values of the Company's senior notes are estimated based on external pricing data, including available quoted market prices, and with reference to comparable debt instruments with similar interest rates, credit ratings, and trading frequency, among other factors. The fair values of the Company's commercial paper notes and borrowings outstanding under its credit facilities, if any, are estimated using external pricing data, based on interest rates and credit ratings for similar issuances with the same remaining term as the Company's outstanding borrowings. Due to their short-term nature, the fair values of the Company's commercial paper notes and borrowings outstanding under its credit facilities, if any, generally approximate their amortized cost carrying values. The following table summarizes the carrying values and the estimated fair values of the Company's debt instruments: December 31, 2022 April 2, 2022 Carrying Value (a) Fair Value (b) Carrying Value (a) Fair Value (b) (millions) $400 million 3.750% Senior Notes $ 398.2 $ 389.5 $ 397.7 $ 407.9 $500 million 1.700% Senior Notes — N/A 499.8 500.5 $750 million 2.950% Senior Notes 739.8 646.5 738.8 721.0 (a) See Note 10 for discussion of the carrying values of the Company's senior notes. (b) Based on Level 2 measurements. Unrealized gains or losses resulting from changes in the fair value of the Company's debt instruments do not result in the realization or expenditure of cash unless the debt is retired prior to its maturity. Non-financial Assets and Liabilities The Company's non-financial assets, which primarily consist of goodwill, other intangible assets, property and equipment, and lease-related ROU assets, are not required to be measured at fair value on a recurring basis, and instead are reported at their amortized or depreciated cost in its consolidated balance sheet. However, on a periodic basis or whenever events or changes in circumstances indicate that they may not be fully recoverable (and at least annually for goodwill and indefinite-lived intangible assets), the respective carrying value of non-financial assets are assessed for impairment and, if ultimately considered impaired, are adjusted and written down to their fair value, as estimated based on consideration of external market participant assumptions and discounted cash flows. No impairment charges were recorded during either of the three-month periods ended December 31, 2022 or December 25, 2021. During the nine-month periods ended December 31, 2022 and December 25, 2021, the Company recorded impairment charges to reduce the carrying values of certain long-lived assets to their estimated fair values. The fair values of these assets were determined based on Level 3 measurements, the related inputs of which included estimates of the amount and timing of the assets' net future discounted cash flows (including any potential sublease income for lease-related ROU assets), based on historical experience and consideration of current trends, market conditions, and comparable sales, as applicable. The following table summarizes impairment charges recorded by the Company during the fiscal periods presented to reduce the carrying values of certain long-lived assets to their estimated fair values as of the assessment date: Nine Months Ended December 31, 2022 December 25, 2021 Long-Lived Asset Category Total Impairments Fair Value Total Impairments Fair Value (millions) Property and equipment, net $ 0.2 $ — $ 1.0 $ — Operating lease right-of-use assets — N/A 18.3 16.8 See Note 7 for additional discussion regarding impairment charges recorded by the Company within the consolidated statements of operations during the fiscal periods presented.

Financial Instruments

Financial Instruments	9 Months Ended
Financial Instruments	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments	Financial Instruments Derivative Financial Instruments The Company is exposed to changes in foreign currency exchange rates, primarily relating to certain anticipated cash flows and the value of the reported net assets of its international operations, as well as changes in the fair value of its fixed-rate debt obligations attributed to changes in benchmark interest rates. Accordingly, based on its assessment thereof, the Company may use derivative financial instruments to manage and mitigate such risks. The Company does not use derivatives for speculative or trading purposes. The following table summarizes the Company's outstanding derivative instruments recorded on its consolidated balance sheets as of December 31, 2022 and April 2, 2022: Notional Amounts Derivative Assets Derivative Liabilities Derivative Instrument (a) December 31, April 2, December 31, April 2, December 31, April 2, Balance Sheet Line (b) Fair Balance Sheet Line (b) Fair Balance Sheet Line (b) Fair Balance Sheet Line (b) Fair (millions) Designated Hedges : FC — Cash flow hedges $ 257.7 $ 236.5 PP $ 5.8 PP $ 6.6 AE $ 0.2 $ — Net investment hedges (c) 700.0 700.0 ONCA 50.0 ONCA 23.7 — ONCL 18.1 Total Designated Hedges 957.7 936.5 55.8 30.3 0.2 18.1 Undesignated Hedges : FC — Undesignated hedges (d) 231.3 225.0 PP 0.5 PP 2.1 AE 2.2 AE 0.2 Total Hedges $ 1,189.0 $ 1,161.5 $ 56.3 $ 32.4 $ 2.4 $ 18.3 (a) FC = Forward foreign currency exchange contracts. (b) PP = Prepaid expenses and other current assets; AE = Accrued expenses and other current liabilities; ONCA = Other non-current assets; ONCL = Other non-current liabilities. (c) Includes cross-currency swaps designated as hedges of the Company's net investment in certain foreign operations. (d) Relates to third-party and intercompany foreign currency-denominated exposures and balances. The Company presents the fair values of its derivative assets and liabilities recorded on its consolidated balance sheets on a gross basis, even when they are subject to master netting arrangements. However, if the Company were to offset and record the asset and liability balances of all of its derivative instruments on a net basis in accordance with the terms of each of its master netting arrangements, spread across nine separate counterparties, the amounts presented in the consolidated balance sheets as of December 31, 2022 and April 2, 2022 would be adjusted from the current gross presentation as detailed in the following table: December 31, 2022 April 2, 2022 Gross Amounts Presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet that are Subject to Master Netting Agreements Net Gross Amounts Presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet that are Subject to Master Netting Agreements Net (millions) Derivative assets $ 56.3 $ (2.4) $ 53.9 $ 32.4 $ (0.2) $ 32.2 Derivative liabilities 2.4 (2.4) — 18.3 (0.2) 18.1 The Company's master netting arrangements do not require cash collateral to be pledged by the Company or its counterparties. See Note 3 for further discussion of the Company's master netting arrangements. The following tables summarize the pretax impact of gains and losses from the Company's designated derivative instruments on its consolidated financial statements for the three-month and nine-month periods ended December 31, 2022 and December 25, 2021: Gains (Losses) Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Designated Hedges: FC — Cash flow hedges $ (6.0) $ 1.7 $ 22.5 $ 1.9 Net investment hedges — effective portion (53.4) 24.3 22.3 29.5 Net investment hedges — portion excluded from assessment of hedge effectiveness 10.7 (0.7) 22.1 11.1 Total Designated Hedges $ (48.7) $ 25.3 $ 66.9 $ 42.5 Location and Amount of Gains (Losses) from Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, Cost of Cost of Cost of Cost of (millions) Total amounts presented in the consolidated statements of operations in which the effects of related cash flow hedges are recorded $ (641.6) $ (617.3) $ (1,687.6) $ (1,514.4) Effects of cash flow hedging: FC — Cash flow hedges 8.6 1.4 15.1 1.5 Gains (Losses) from Net Investment Hedges Location of Gains (Losses) Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Net Investment Hedges: Net investment hedges — portion excluded from assessment of hedge effectiveness (a) $ 3.3 $ 2.9 $ 9.8 $ 8.6 Interest expense Total Net Investment Hedges $ 3.3 $ 2.9 $ 9.8 $ 8.6 (a) Amounts recognized in other comprehensive income (loss) ("OCI") relating to the effective portion of the Company's net investment hedges would be recognized in earnings only upon the sale or liquidation of the hedged net investment. As of December 31, 2022, it is estimated that $17.3 million of pretax net gains on both outstanding and matured derivative instruments designated and qualifying as cash flow hedges deferred in AOCI will be recognized in earnings over the next twelve months. Amounts ultimately recognized in earnings will depend on exchange rates in effect when outstanding derivative instruments are settled. The following table summarizes the pretax impact of gains and losses from the Company's undesignated derivative instruments on its consolidated financial statements for the three-month and nine-month periods ended December 31, 2022 and December 25, 2021: Gains (Losses) Location of Gains (Losses) Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Undesignated Hedges: FC — Undesignated hedges $ (9.4) $ 4.1 $ 15.2 $ 4.6 Other income (expense), net Total Undesignated Hedges $ (9.4) $ 4.1 $ 15.2 $ 4.6 Risk Management Strategies Forward Foreign Currency Exchange Contracts The Company uses forward foreign currency exchange contracts to mitigate its risk related to exchange rate fluctuations on inventory transactions made in an entity's non-functional currency, the settlement of foreign currency-denominated balances, and the translation of certain foreign operations' net assets into U.S. Dollars. As part of its overall strategy for managing the level of exposure to such exchange rate risk, relating primarily to the Euro, the Japanese Yen, the South Korean Won, the Australian Dollar, the Canadian Dollar, the British Pound Sterling, the Swiss Franc, and the Chinese Renminbi, the Company generally hedges a portion of its related exposures anticipated over the next twelve months using forward foreign currency exchange contracts with maturities of two months to one year to provide continuing coverage over the period of the respective exposure. Cross-Currency Swap Contracts The Company periodically designates pay-fixed rate, receive fixed-rate cross-currency swap contracts as hedges of its net investment in certain of its European subsidiaries. These contracts swap U.S. Dollar-denominated fixed interest rate payments based on the contract's notional amount and the fixed rate of interest payable on certain of the Company's senior notes for Euro-denominated fixed interest rate payments, thereby economically converting a portion of its fixed-rate U.S. Dollar-denominated senior note obligations to fixed-rate Euro-denominated obligations. See Note 3 for further discussion of the Company's accounting policies relating to its derivative financial instruments. Investments The Company's short-term investments as of December 31, 2022 and April 2, 2022 were $131.4 million and $734.6 million, respectively, and consisted of time deposits. No significant realized or unrealized gains or losses on available-for-sale investments or impairment charges were recorded during any of the fiscal periods presented. Refer to Note 3 of the Fiscal 2022 10-K for further discussion of the Company's accounting policies relating to its investments.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and ContingenciesThe Company is involved, from time to time, in litigation, other legal claims, and proceedings involving matters associated with or incidental to its business, including, among other things, matters involving credit card fraud, trademark and other intellectual property, licensing, importation and exportation of its products, taxation, unclaimed property, leases, and employee relations. The Company believes at present that the resolution of currently pending matters will not individually or in the aggregate have a material adverse effect on its consolidated financial statements. However, the Company's assessment of any current litigation or other legal claims could potentially change in light of the discovery of facts not presently known or determinations by judges, juries, or other finders of fact which are not in accord with management's evaluation of the possible liability or outcome of such litigation or claims.In the normal course of business, the Company may enter into certain guarantees or other agreements that provide general indemnifications. The Company has not made any significant indemnification payments under such agreements in the past and does not currently anticipate incurring any material indemnification payments.

Equity

Equity	9 Months Ended
Equity	Dec. 31, 2022
Equity [Abstract]
Equity	Equity Common Stock Repurchase Program Repurchases of shares of the Company's Class A common stock are subject to overall business and market conditions, as well as other potential factors such as the temporary restrictions previously in place under the Company's Global Credit Facility. Accordingly, in response to business disruptions related to the COVID-19 pandemic, effective beginning in the first quarter of Fiscal 2021, the Company temporarily suspended its common stock repurchase program as a preemptive action to preserve cash and strengthen its liquidity position. However, the Company resumed activities under its Class A common stock repurchase program during the third quarter of Fiscal 2022 as restrictions under its Global Credit Facility were lifted (see Note 11 of the Fiscal 2022 10-K) and overall business and market conditions have improved since the COVID-19 pandemic first emerged. A summary of the Company's repurchases of Class A common stock under its common stock repurchase program is as follows: Nine Months Ended December 31, December 25, (millions) Cost of shares repurchased $ 411.8 $ 300.0 Number of shares repurchased 4.4 2.5 On February 2, 2022, the Company's Board of Directors approved an expansion of the Company's existing common stock repurchase program that allows it to repurchase up to an additional $1.500 billion of its Class A common stock. As of December 31, 2022, the remaining availability under the Company's Class A common stock repurchase program was approximately $1.217 billion. As discussed in Note 9, as a result of the IRA's enactment into law, the Company will be subject to a 1% excise tax on share repurchases made after December 31, 2022. In addition, during each of the nine-month periods ended December 31, 2022 and December 25, 2021, 0.3 million shares of the Company's Class A common stock, at a cost of $34.0 million and $40.4 million, respectively, were surrendered to or withheld by the Company in satisfaction of withholding taxes in connection with the vesting of awards under its long-term stock incentive plans. Repurchased and surrendered shares are accounted for as treasury stock at cost and held in treasury for future use. Dividends Except as discussed below, the Company has maintained a regular quarterly cash dividend program on its common stock since 2003. In response to business disruptions related to the COVID-19 pandemic, effective beginning in the first quarter of Fiscal 2021 the Company temporarily suspended its quarterly cash dividend program as a preemptive action to preserve cash and strengthen its liquidity position. On May 19, 2021, the Company's Board of Directors approved the reinstatement of its quarterly cash dividend program at the pre-pandemic amount of $0.6875 per share. On May 18, 2022, the Company's Board of Directors approved an increase to the Company's quarterly cash dividend on its common stock from $0.6875 to $0.75 per share. The third quarter Fiscal 2023 dividend of $0.75 per share was declared on December 16, 2022, was payable to shareholders of record at the close of business on December 30, 2022, and was paid on January 13, 2023. The Company intends to continue to pay regular dividends on outstanding shares of its common stock. However, any decision to declare and pay dividends in the future will ultimately be made at the discretion of the Company's Board of Directors and will depend on the Company's results of operations, cash requirements, financial condition, and other factors that the Board of Directors may deem relevant, including economic and market conditions.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
Accumulated Other Comprehensive Income (Loss)	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The following table presents OCI activity, net of tax, accumulated in equity: Foreign Currency Translation Gains (Losses) (a) Net Unrealized Gains (Losses) on Cash Flow Hedges (b) Net Unrealized Gains (Losses) on Defined Benefit Plans (c) Total Accumulated Other Comprehensive Income (Loss) (millions) Balance at April 2, 2022 $ (189.7) $ 9.0 $ 0.4 $ (180.3) Other comprehensive income (loss), net of tax: OCI before reclassifications (28.8) 19.4 — (9.4) Amounts reclassified from AOCI to earnings — (13.0) (0.1) (13.1) Other comprehensive income (loss), net of tax (28.8) 6.4 (0.1) (22.5) Balance at December 31, 2022 $ (218.5) $ 15.4 $ 0.3 $ (202.8) Balance at March 27, 2021 $ (123.2) $ 4.6 $ (2.2) $ (120.8) Other comprehensive income (loss), net of tax: OCI before reclassifications (29.8) 1.6 0.1 (28.1) Amounts reclassified from AOCI to earnings — (1.2) (0.1) (1.3) Other comprehensive income (loss), net of tax (29.8) 0.4 — (29.4) Balance at December 25, 2021 $ (153.0) $ 5.0 $ (2.2) $ (150.2) (a) OCI before reclassifications to earnings related to foreign currency translation gains (losses) includes income tax provisions of $15.4 million an d $10.3 million for the nine-month periods ended December 31, 2022 and December 25, 2021, respectively. OCI before reclassifications to earnings for the nine-month periods ended December 31, 2022 and December 25, 2021 includes gains of $33.7 million (net of a $10.7 million income tax provision) and $31.0 million (net of a $9.6 million income tax provision), respectively, related to changes in the fair values of instruments designated as hedges of the Company's net investment in certain foreign operations (see Note 12). (b) OCI before reclassifications to earnings related to net unrealized gains (losses) on cash flow hedges are presented net of income tax provisions of $3.1 million and $0.3 million for the nine-month periods ended December 31, 2022 and December 25, 2021, respectively. The tax effects on amounts reclassified from AOCI to earnings are presented in a table below. (c) Activity is presented net of taxes, which were immaterial for both periods presented. The following table presents reclassifications from AOCI to earnings for cash flow hedges, by component: Three Months Ended Nine Months Ended Location of December 31, December 25, December 31, December 25, (millions) Gains (losses) on cash flow hedges (a) : FC — Cash flow hedges $ 8.6 $ 1.4 $ 15.1 $ 1.5 Cost of goods sold Tax effect (1.3) (0.3) (2.1) (0.3) Income tax provision Net of tax $ 7.3 $ 1.1 $ 13.0 $ 1.2 (a) FC = Forward foreign currency exchange contracts.

Stock-based Compensation

Stock-based Compensation	9 Months Ended
Stock-based Compensation	Dec. 31, 2022
Share-based Payment Arrangement [Abstract]
Stock-based Compensation	Stock-based Compensation The Company's stock-based compensation awards are currently issued under the 2019 Incentive Plan, which was approved by its stockholders on August 1, 2019. However, any prior awards granted under either the Company's 2010 Incentive Plan or 1997 Incentive Plan remain subject to the terms of those plans, as applicable. Any awards that expire, are forfeited, or are surrendered to the Company in satisfaction of taxes are available for issuance under the 2019 Incentive Plan. Refer to Note 18 of the Fiscal 2022 10-K for a detailed description of the Company's stock-based compensation awards, including information related to vesting terms, service, performance, and market conditions and payout percentages. Impact on Results A summary of total stock-based compensation expense and the related income tax benefits recognized during the three-month and nine-month periods ended December 31, 2022 and December 25, 2021 is as follows: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Compensation expense $ 19.2 $ 22.0 $ 59.9 $ 62.6 (a) Income tax benefit (3.3) (3.3) (9.9) (9.9) (a) Includes $2.0 million of accelerated stock-based compensation expense recorded within restructuring and other charges, net in the consolidated statements of operations (see Note 8). All other stock-based compensation expense was recorded within SG&A expenses. The Company issues its annual grants of stock-based compensation awards in the first half of each fiscal year. Due to the timing of the annual grants and other factors, including the timing and magnitude of forfeiture and performance goal achievement adjustments, as well as changes to the size and composition of the eligible employee population, stock-based compensation expense recognized during any given fiscal period is not indicative of the level of compensation expense expected to be incurred in future periods. Service-based RSUs The fair values of service-based RSUs granted to certain of the Company's senior executives and other employees, as well as non-employee directors, are based on the fair value of the Company's Class A common stock on the date of grant, adjusted to reflect the absence of dividends for any awards for which dividend equivalent amounts do not accrue to the holder while outstanding and unvested. The weighted-average grant date fair values of service-based RSU awards granted were $92.07 and $117.56 per share during the nine-month periods ended December 31, 2022 and December 25, 2021, respectively. A summary of service-based RSU activity during the nine months ended December 31, 2022 is as follows: Number of Service-based RSUs (thousands) Unvested at April 2, 2022 1,566 Granted 668 Vested (564) Forfeited (45) Unvested at December 31, 2022 1,625 Performance-based RSUs The fair values of the Company's performance-based RSUs granted to its senior executives and other key employees are based on the fair value of the Company's Class A common stock on the date of grant, adjusted to reflect the absence of dividends for any awards for which dividend equivalent amounts do not accrue to the holder while outstanding and unvested. The weighted-average grant date fair values of performance-based RSU awards granted were $92.45 and $117.79 per share during the nine-month periods ended December 31, 2022 and December 25, 2021, respectively. Market-based RSUs The Company grants market-based RSUs, which are based on total shareholder return ("TSR") performance, to its senior executives and other key employees. The Company estimates the fair value of its TSR awards on the date of grant using a Monte Carlo simulation, which models multiple stock price paths of the Company's Class A common stock and that of its peer group to evaluate and determine its ultimate expected relative TSR performance ranking. Compensation expense, net of estimated forfeitures, is recorded regardless of whether, and the extent to which, the market condition is ultimately satisfied. The weighted-average grant date fair values of market-based RSUs granted were $124.62 and $146.46 per share during the nine-month periods ended December 31, 2022 and December 25, 2021, respectively. The assumptions used to estimate the fair value of TSR awards granted during the nine-month periods ended December 31, 2022 and December 25, 2021 were as follows: Nine Months Ended December 31, December 25, Expected volatility 49.9 % 46.8 % Expected dividend yield 3.0 % 2.2 % Risk-free interest rate 3.1 % 0.4 % A summary of performance-based RSU activity including TSR awards during the nine months ended December 31, 2022 is as follows: Number of (thousands) Unvested at April 2, 2022 542 Granted 261 Change due to performance and/or market condition achievement (58) Vested (269) Forfeited (3) Unvested at December 31, 2022 473

Segment Information

Segment Information	9 Months Ended
Segment Information	Dec. 31, 2022
Segment Reporting [Abstract]
Segment Information	Segment Information The Company has three reportable segments based on its business activities and organization: • North America — The North America segment primarily consists of sales of Ralph Lauren branded apparel, footwear & accessories, home, and related products made through the Company's retail and wholesale businesses in the U.S. and Canada. In North America, the Company's retail business is primarily comprised of its Ralph Lauren stores, its factory stores, and its digital commerce site, www.RalphLauren.com. The Company's wholesale business in North America is comprised primarily of sales to department stores and, to a lesser extent, specialty stores. • Europe — The Europe segment primarily consists of sales of Ralph Lauren branded apparel, footwear & accessories, home, and related products made through the Company's retail and wholesale businesses in Europe and emerging markets. In Europe, the Company's retail business is primarily comprised of its Ralph Lauren stores, its factory stores, its concession-based shop-within-shops, and its various digital commerce sites. The Company's wholesale business in Europe is comprised primarily of a varying mix of sales to both department stores and specialty stores, depending on the country, as well as to various third-party digital partners. • Asia — The Asia segment primarily consists of sales of Ralph Lauren branded apparel, footwear & accessories, home, and related products made through the Company's retail and wholesale businesses in Asia, Australia, and New Zealand. The Company's retail business in Asia is primarily comprised of its Ralph Lauren stores, its factory stores, its concession-based shop-within-shops, and its various digital commerce sites. In addition, the Company sells its products online through various third-party digital partner commerce sites. The Company's wholesale business in Asia is comprised primarily of sales to department stores, with related products distributed through shop-within-shops. No operating segments were aggregated to form the Company's reportable segments. In addition to these reportable segments, the Company also has other non-reportable segments, which primarily consist of Ralph Lauren and Chaps branded royalty revenues earned through its global licensing alliances. In addition, prior to its disposition at the end of the Company's first quarter of Fiscal 2022, other non-reportable segments also included sales of Club Monaco branded products made through the Company's retail and wholesale businesses in the U.S., Canada, and Europe, and its licensing alliances in Asia. Refer to Note 8 for additional discussion regarding the disposition of the Company's former Club Monaco business, as well as the transition of its Chaps business to a fully licensed business model. The Company's segment reporting structure is consistent with how it establishes its overall business strategy, allocates resources, and assesses performance of its business. The accounting policies of the Company's segments are consistent with those described in Notes 2 and 3 of the Fiscal 2022 10-K. Sales and transfers between segments are generally recorded at cost and treated as transfers of inventory. All intercompany revenues are eliminated in consolidation and are not reviewed when evaluating segment performance. Each segment's performance is evaluated based upon net revenues and operating income before restructuring-related charges, impairment of assets, and certain other one-time items, if any. Certain corporate overhead expenses related to global functions, most notably the Company's executive office, information technology, finance and accounting, human resources, and legal departments, largely remain at corporate. Additionally, other costs that cannot be allocated to the segments based on specific usage are also maintained at corporate, including corporate advertising and marketing expenses, depreciation and amortization of corporate assets, and other general and administrative expenses resulting from corporate-level activities and projects. Net revenues for each of the Company's segments are as follows: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Net revenues: North America $ 937.6 $ 928.7 $ 2,364.9 $ 2,293.9 Europe 469.3 462.9 1,378.4 1,313.3 Asia 386.2 382.6 1,036.7 940.7 Other non-reportable segments 39.2 41.2 122.8 147.9 Total net revenues $ 1,832.3 $ 1,815.4 $ 4,902.8 $ 4,695.8 Operating income for each of the Company's segments is as follows: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Operating income (a) : North America $ 214.9 $ 229.6 $ 474.8 $ 586.5 Europe 109.6 97.1 317.4 353.4 Asia 89.8 85.6 234.2 189.4 Other non-reportable segments 36.9 38.5 114.1 106.2 451.2 450.8 1,140.5 1,235.5 Unallocated corporate expenses (161.3) (161.5) (456.2) (465.3) Unallocated restructuring and other charges, net (b) (7.8) (0.2) (20.3) (8.6) Total operating income $ 282.1 $ 289.1 $ 664.0 $ 761.6 (a) Segment operating income and unallocated corporate expenses during the three-month and nine-month periods ended December 31, 2022 and December 25, 2021 also included asset impairment charges (see Note 7), which are detailed below: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Asset impairment charges: North America $ — $ — $ — $ (0.4) Asia — — — (1.1) Other non-reportable segments — — — (0.3) Unallocated corporate expenses — — (0.2) (17.5) Total asset impairment charges $ — $ — $ (0.2) $ (19.3) (b) The three-month and nine-month periods ended December 31, 2022 and December 25, 2021 included certain unallocated restructuring and other charges, net (see Note 8), which are detailed below: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Unallocated restructuring and other charges, net: North America-related $ (0.4) $ — $ (0.4) $ 0.1 Europe-related — — 1.1 1.0 Asia-related — 0.8 0.2 1.2 Other non-reportable segment-related — — — (0.1) Corporate operations-related (0.4) 0.4 (3.6) (3.5) Unallocated restructuring benefits (charges) (0.8) 1.2 (2.7) (1.3) Other charges (see Note 8) (7.0) (1.4) (17.6) (7.3) Total unallocated restructuring and other charges, net $ (7.8) $ (0.2) $ (20.3) $ (8.6) Depreciation and amortization expense for the Company's segments is as follows: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Depreciation and amortization expense: North America $ 18.5 $ 17.8 $ 54.7 $ 53.5 Europe 8.0 7.4 23.1 22.7 Asia 11.9 13.1 35.5 38.9 Other non-reportable segments — — — 0.4 Unallocated corporate 16.8 17.9 50.0 53.8 Total depreciation and amortization expense $ 55.2 $ 56.2 $ 163.3 $ 169.3 Net revenues by geographic location of the reporting subsidiary are as follows: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Net revenues (a) : The Americas (b) $ 983.1 $ 974.5 $ 2,506.3 $ 2,451.8 Europe (c) 463.0 458.0 1,359.8 1,302.5 Asia (d) 386.2 382.9 1,036.7 941.5 Total net revenues $ 1,832.3 $ 1,815.4 $ 4,902.8 $ 4,695.8 (a) Net revenues for certain of the Company's licensed operations are included within the geographic location of the reporting subsidiary which holds the respective license. (b) Includes the U.S., Canada, and Latin America. Net revenues earned in the U.S. during the three-month and nine-month periods ended December 31, 2022 were $941.3 million and $2.391 billion, respectively, and $939.2 million and $2.356 billion, during the three-month and nine-month periods ended December 25, 2021, respectively. (c) Includes the Middle East. (d) Includes Australia and New Zealand.

Additional Financial Informatio

Additional Financial Information	9 Months Ended
Additional Financial Information	Dec. 31, 2022
Supplemental Cash Flow Information [Abstract]
Additional Financial Information	Additional Financial Information Reconciliation of Cash, Cash Equivalents, and Restricted Cash A reconciliation of cash, cash equivalents, and restricted cash as of December 31, 2022 and April 2, 2022 from the consolidated balance sheets to the consolidated statements of cash flows is as follows: December 31, April 2, (millions) Cash and cash equivalents $ 1,566.1 $ 1,863.8 Restricted cash included within prepaid expenses and other current assets 1.4 1.6 Restricted cash included within other non-current assets 6.0 6.6 Total cash, cash equivalents, and restricted cash $ 1,573.5 $ 1,872.0 Restricted cash relates to cash held in escrow with certain banks as collateral, primarily to secure guarantees in connection with certain international tax matters and real estate leases. Cash Paid for Interest and Taxes Cash paid for interest and income taxes is as follows: Nine Months Ended December 31, December 25, (millions) Cash paid for interest $ 34.7 $ 41.0 Cash paid for income taxes, net of refunds 85.4 168.2 Cash Paid for Leases The following table summarizes certain cash flow information related to the Company's leases: Nine Months Ended December 31, December 25, (millions) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 253.3 $ 283.9 Operating cash flows for finance leases 8.4 9.3 Financing cash flows for finance leases 15.9 16.8 Non-cash Transactions Operating lease ROU assets recorded in connection with the recognition of new lease liabilities was $220.3 million and $224.8 million for the nine-month periods ended December 31, 2022 and December 25, 2021, respectively. Finance lease ROU assets recorded in connection with the recognition of new lease liabilities was $0.3 million for the nine months ended December 31, 2022. No finance lease ROU assets were recorded in connection with the recognition of new lease liabilities during the nine months ended December 25, 2021. Non-cash investing activities also included capital expenditures incurred but not yet paid of $41.9 million and $36.0 million for the nine-month periods ended December 31, 2022 and December 25, 2021, respectively. There were no other significant non-cash investing or financing activities for any of the fiscal periods presented.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2022
Accounting Policies [Abstract]
Basis of Consolidation	Basis of Consolidation These unaudited interim consolidated financial statements present the consolidated financial position, income (loss), comprehensive income (loss), and cash flows of the Company, including all entities in which the Company has a controlling financial interest and is determined to be the primary beneficiary. All significant intercompany balances and transactions have been eliminated in consolidation. Additionally, as discussed in Note 8, the Company completed the sale of its Club Monaco business at the end of its first quarter of Fiscal 2022 (as defined below) on June 26, 2021. As a result, assets and liabilities related to the Club Monaco business were deconsolidated from the consolidated statement of financial position effective June 26, 2021, with Club Monaco's operating results included in the consolidated statements of income (loss), comprehensive income (loss), and cash flows through the end of the first quarter of Fiscal 2022. Financial statements issued prior to this transaction were not affected.
Fiscal Periods	Fiscal Periods The Company utilizes a 52-53 week fiscal year ending on the Saturday immediately before or after March 31. As such, fiscal year 2023 will end on April 1, 2023 and will be a 52-week period ("Fiscal 2023"). Fiscal year 2022 ended on April 2, 2022 and was a 53-week period ("Fiscal 2022"). The third quarter of Fiscal 2023 ended on December 31, 2022 and was a 13-week period. The third quarter of Fiscal 2022 ended on December 25, 2021 and was also a 13-week period.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and notes thereto. Actual results could differ materially from those estimates. Significant estimates inherent in the preparation of the consolidated financial statements include reserves for bad debt, customer returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances; the realizability of inventory; reserves for litigation and other contingencies; useful lives and impairments of long-lived tangible and intangible assets; fair value measurements; accounting for income taxes and related uncertain tax positions; valuation of stock-based compensation awards and related forfeiture rates; and reserves for restructuring activity, among others.
Reclassifications	ReclassificationsCertain reclassifications have been made to the prior periods' financial information in order to conform to the current period's presentation
Revenue Recognition	Revenue Recognition The Company recognizes revenue across all channels of the business when it satisfies its performance obligations by transferring control of promised products or services to its customers, which occurs either at a point in time or over time, depending on when the customer obtains the ability to direct the use of and obtain substantially all of the remaining benefits from the products or services. The amount of revenue recognized considers terms of sale that create variability in the amount of consideration that the Company ultimately expects to be entitled to in exchange for the products or services, and is subject to an overall constraint that a significant revenue reversal will not occur in future periods. Sales and other related taxes collected from customers and remitted to government authorities are excluded from revenue. Revenue from the Company's retail business is recognized when the customer takes physical possession of the products, which occurs either at the point of sale for merchandise purchased at the Company's own retail stores and shop-within-shop locations, or upon receipt of shipment for merchandise ordered through direct-to-consumer digital commerce sites. Such revenues are recorded net of estimated returns based on historical trends. Payment is due at the point of sale. Gift cards purchased by customers are recorded as a liability until they are redeemed for products sold by the Company's retail business, at which point revenue is recognized. The Company also estimates and recognizes revenue for gift card balances not expected to ever be redeemed (referred to as "breakage") to the extent that it does not have a legal obligation to remit the value of such unredeemed gift cards to the relevant jurisdiction as unclaimed or abandoned property. Such estimates are based upon historical redemption trends, with breakage income recognized in proportion to the pattern of actual customer redemptions. Revenue from the Company's wholesale business is generally recognized upon shipment of products, at which point title passes and risk of loss is transferred to the customer. In certain arrangements where the Company retains the risk of loss during shipment, revenue is recognized upon receipt of products by the customer. Wholesale revenue is recorded net of estimates of returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances. Returns and allowances require pre-approval from management and discounts are based on trade terms. Estimates for end-of-season markdown reserves are based on historical trends, actual and forecasted seasonal results, an evaluation of current economic and market conditions, retailer performance, and, in certain cases, contractual terms. Estimates for operational chargebacks are based on actual customer notifications of order fulfillment discrepancies and historical trends. The Company reviews and refines these estimates on at least a quarterly basis. The Company's historical estimates of these amounts have not differed materially from actual results. Revenue from the Company's licensing arrangements is recognized over time during the period that licensees are provided access to the Company's trademarks (i.e., symbolic intellectual property) and benefit from such access through their own sales of licensed products. These arrangements require licensees to pay a sales-based royalty, which for most arrangements, may be subject to a contractually-guaranteed minimum royalty amount. Payments are generally due quarterly and, depending on time of receipt, may be recorded as a liability until recognized as revenue. The Company recognizes revenue for sales-based royalty arrangements (including those for which the royalty exceeds any contractually-guaranteed minimum
Shipping and Handling Costs	Shipping and Handling CostsCosts associated with shipping goods to customers are accounted for as fulfillment activities and reflected as selling, general, and administrative ("SG&A") expenses in the consolidated statements of operations. Costs of preparing merchandise for sale, such as picking, packing, warehousing, and order charges ("handling costs"), are also included in SG&A expenses. Shipping and handling costs billed to customers are included in revenue.
Net Income per Common Share	Net Income per Common Share Basic net income per common share is computed by dividing net income attributable to common shares by the weighted-average number of common shares outstanding during the period. Weighted-average common shares include shares of the Company's Class A and Class B common stock. Diluted net income per common share adjusts basic net income per common share for the dilutive effects of outstanding restricted stock units ("RSUs"), stock options, and any other potentially dilutive instruments, only for the periods in which such effects are dilutive.
Accounts Receivable	Accounts Receivable In the normal course of business, the Company extends credit to wholesale customers that satisfy certain defined credit criteria. Payment is generally due within 30 to 120 days and does not involve a significant financing component. Accounts receivable are recorded at amortized cost, which approximates fair value, and are presented in the consolidated balance sheets net of certain reserves and allowances. These reserves and allowances consist of (i) reserves for returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances (see the " Revenue Recognition " section above for further discussion of related accounting policies) and (ii) allowances for doubtful accounts.
Inventories	InventoriesThe Company holds inventory that is sold in its retail stores and digital commerce sites directly to consumers. The Company also holds inventory that is to be sold through wholesale distribution channels to major department stores, specialty stores, and third-party digital partners. Substantially all of the Company's inventories consist of finished goods, which are stated at the lower of cost or estimated realizable value, with cost determined on a weighted-average cost basis.
Derivative Financial Instruments	Derivative Financial Instruments The Company records derivative financial instruments on its consolidated balance sheets at fair value. Changes in the fair value of derivative instruments that are designated and qualify for hedge accounting are either (i) offset through earnings against the changes in fair value of the related hedged assets, liabilities, or firm commitments or (ii) recognized in equity as a component of accumulated other comprehensive income (loss) ("AOCI") until the hedged item is recognized in earnings, depending on whether the instrument is hedging against changes in fair value or cash flows and net investments, respectively. Each derivative instrument that qualifies for hedge accounting is expected to be highly effective in offsetting the risk associated with the related exposure. For each instrument that is designated as a hedge, the Company documents the related risk management objective and strategy, including identification of the hedging instrument, the hedged item, and the risk exposure, as well as how hedge effectiveness will be assessed over the instrument's term. To assess hedge effectiveness at the inception of a hedging relationship, the Company generally uses regression analysis, a statistical method, to evaluate how changes in the fair value of the derivative instrument are expected to offset changes in the fair value or cash flows of the related hedged item. The extent to which a hedging instrument has been and is expected to remain highly effective in achieving offsetting changes in fair value or cash flows is assessed by the Company on at least a quarterly basis. Given its use of derivative instruments, the Company is exposed to the risk that counterparties to such contracts will fail to meet their contractual obligations. To mitigate such counterparty credit risk, the Company's policy is to only enter into contracts with carefully selected financial institutions based upon an evaluation of their credit ratings and certain other factors, adhering to established limits for credit exposure. The Company's established policies and procedures for mitigating credit risk include ongoing review and assessment of its counterparties' creditworthiness. The Company also enters into master netting arrangements with counterparties, when possible, to further mitigate credit risk. In the event of default or termination, these arrangements allow the Company to net-settle amounts payable and receivable related to multiple derivative transactions with the same counterparty. The master netting arrangements specify a number of events of default and termination, including the failure to make timely payments. The fair values of the Company's derivative instruments are recorded on its consolidated balance sheets on a gross basis. For cash flow reporting purposes, proceeds received or amounts paid upon the settlement of a derivative instrument are classified in the same manner as the related item being hedged, primarily within cash flows from operating activities for its forward foreign exchange contracts and within cash flows from investing activities for its cross-currency swap contracts, both as discussed below. Cash Flow Hedges The Company uses forward foreign currency exchange contracts to mitigate its risk related to exchange rate fluctuations on inventory transactions made in an entity's non-functional currency. To the extent designated as cash flow hedges, related gains or losses on such instruments are initially deferred in equity as a component of AOCI and are subsequently recognized within cost of goods sold in the consolidated statements of operations when the related inventory is sold. If a derivative instrument is dedesignated or if hedge accounting is discontinued because the instrument is not expected to be highly effective in hedging the designated exposure, any further gains (losses) are recognized in earnings each period within other income (expense), net. Upon discontinuance of hedge accounting, the cumulative change in fair value of the derivative instrument recorded in AOCI is recognized in earnings when the related hedged item affects earnings, consistent with the hedging strategy, unless the related forecasted transaction is probable of not occurring, in which case the accumulated amount is immediately recognized within other income (expense), net. Hedges of Net Investments in Foreign Operations The Company periodically uses cross-currency swap contracts to reduce risk associated with exchange rate fluctuations on certain of its net investments in foreign subsidiaries. Changes in the fair values of such derivative instruments that are designated as hedges of net investments in foreign operations are recorded in equity as a component of AOCI in the same manner as foreign currency translation adjustments. In assessing the effectiveness of such hedges, the Company uses a method based on changes in spot rates to measure the impact of foreign currency exchange rate fluctuations on both its foreign subsidiary net investment and the related hedging instrument. Under this method, changes in the fair value of the hedging instrument other than those due to changes in the spot rate are initially recorded in AOCI as a translation adjustment and are amortized into earnings as interest expense using a systematic and rational method over the instrument's term. Changes in fair value associated with the effective portion (i.e., those due to changes in the spot rate) are recorded in AOCI as a translation adjustment and are released and recognized in earnings only upon the sale or liquidation of the hedged net investment. Undesignated Hedges The Company uses undesignated hedges primarily to hedge foreign currency exchange rate risk related to third-party and intercompany balances and exposures. Changes in the fair values of such instruments are recognized in earnings each period within other income (expense), net.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
Summary of Significant Accounting Policies (Tables)	Dec. 31, 2022
Summary of Significant Accounting Policies (Tables) [Abstract]
Contractually-Guaranteed Minimum Royalties	As of December 31, 2022, contractually-guaranteed minimum royalty amounts expected to be recognized as revenue during future periods were as follows: Contractually-Guaranteed Minimum Royalties (a) (millions) Remainder of Fiscal 2023 $ 14.5 Fiscal 2024 98.9 Fiscal 2025 62.8 Fiscal 2026 44.0 Fiscal 2027 40.7 Fiscal 2028 and thereafter 11.3 Total $ 272.2 (a) Amounts presented do not contemplate potential contract renewals or royalties earned in excess of the contractually-guaranteed minimums.
Disaggregation of Revenue	The following tables disaggregate the Company's net revenues into categories that depict how the nature, amount, timing, and uncertainty of revenues and cash flows are affected by economic factors for the fiscal periods presented: Three Months Ended December 31, 2022 December 25, 2021 North America Europe Asia Other Total North America Europe Asia Other Total (millions) Sales Channel (a) : Retail $ 653.5 $ 254.9 $ 361.5 $ — $ 1,269.9 $ 638.4 $ 246.4 $ 364.2 $ — $ 1,249.0 Wholesale 284.1 214.4 24.7 — 523.2 290.3 216.5 18.4 0.2 525.4 Licensing — — — 39.2 39.2 — — — 41.0 41.0 Total $ 937.6 $ 469.3 $ 386.2 $ 39.2 $ 1,832.3 $ 928.7 $ 462.9 $ 382.6 $ 41.2 $ 1,815.4 Nine Months Ended December 31, 2022 December 25, 2021 North America Europe Asia Other Total North America Europe Asia Other Total (millions) Sales Channel (a) : Retail $ 1,515.3 $ 675.6 $ 963.6 $ — $ 3,154.5 $ 1,472.5 $ 646.7 $ 885.4 $ 27.2 $ 3,031.8 Wholesale 849.6 702.8 73.1 — 1,625.5 821.4 666.6 55.3 5.5 1,548.8 Licensing — — — 122.8 122.8 — — — 115.2 115.2 Total $ 2,364.9 $ 1,378.4 $ 1,036.7 $ 122.8 $ 4,902.8 $ 2,293.9 $ 1,313.3 $ 940.7 $ 147.9 $ 4,695.8 (a) Net revenues from the Company's retail and wholesale businesses are recognized at a point in time. Net revenues from the Company's licensing business are recognized over time.
Shipping and Handling Charges	A summary of shipping and handling costs for the fiscal periods presented is as follows: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Shipping costs $ 25.7 $ 24.1 $ 60.7 $ 52.9 Handling costs 51.5 43.4 128.2 113.6
Summary of Basic and Diluted shares	The weighted-average number of common shares outstanding used to calculate basic net income per common share is reconciled to shares used to calculate diluted net income per common share as follows: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Basic shares 66.5 73.2 68.2 73.7 Dilutive effect of RSUs and stock options 1.1 1.1 1.2 1.3 Diluted shares 67.6 74.3 69.4 75.0
Sales Returns and Allowances [Member]
Summary of Significant Accounting Policies (Tables) [Abstract]
Rollforward of activity in the Company's allowance for doubtful accounts and its aggregate reserves for returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances	A rollforward of the activity in the Company's reserves for returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances is presented as follows: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Beginning reserve balance $ 166.8 $ 184.8 $ 180.7 $ 173.7 Amount charged against revenue to increase reserve 96.6 101.1 298.8 289.8 Amount credited against customer accounts to decrease reserve (114.2) (106.0) (316.9) (283.2) Foreign currency translation 7.5 (4.3) (5.9) (4.7) Ending reserve balance $ 156.7 $ 175.6 $ 156.7 $ 175.6
Allowance for Doubtful Accounts
Summary of Significant Accounting Policies (Tables) [Abstract]
Rollforward of activity in the Company's allowance for doubtful accounts and its aggregate reserves for returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances	A rollforward of the activity in the Company's allowance for doubtful accounts is presented as follows: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Beginning reserve balance $ 27.7 $ 37.9 $ 34.0 $ 40.1 Amount recorded to expense to increase (decrease) reserve (a) (0.4) (1.8) 0.2 (2.7) Amount written-off against customer accounts to decrease reserve (0.6) (0.5) (5.5) (1.8) Foreign currency translation 1.0 (0.7) (1.0) (0.7) Ending reserve balance $ 27.7 $ 34.9 $ 27.7 $ 34.9 (a) Amounts recorded to bad debt expense are included within SG&A expenses in the consolidated statements of operations.

Property and Equipment (Tables)

Property and Equipment (Tables)	9 Months Ended
Property and Equipment (Tables)	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Property and equipment, net	Property and equipment, net consists of the following: December 31, April 2, (millions) Land and improvements $ 15.3 $ 15.3 Buildings and improvements 470.3 480.4 Furniture and fixtures 598.4 589.6 Machinery and equipment 381.7 375.7 Capitalized software 544.9 532.1 Leasehold improvements 1,206.6 1,170.1 Construction in progress 54.3 55.4 3,271.5 3,218.6 Less: accumulated depreciation (2,324.0) (2,249.1) Property and equipment, net $ 947.5 $ 969.5

Other Assets and Liabilities (T

Other Assets and Liabilities (Tables)	9 Months Ended
Other Assets and Liabilities (Tables)	Dec. 31, 2022
Balance Sheet Related Disclosures [Abstract]
Schedule of prepaid expenses and other current assets	Prepaid expenses and other current assets consist of the following: December 31, April 2, (millions) Other taxes receivable $ 49.8 $ 26.2 Non-trade receivables 38.1 41.4 Prepaid software maintenance 21.3 16.4 Prepaid advertising and marketing 17.9 7.9 Inventory return asset 16.7 8.3 Tenant allowances receivable 8.0 6.1 Prepaid occupancy expense 6.6 6.0 Prepaid logistic services 6.4 6.6 Derivative financial instruments 6.3 8.7 Prepaid insurance 6.0 3.0 Cloud computing arrangement implementation costs 5.6 4.0 Other prepaid expenses and current assets 38.2 37.9 Total prepaid expenses and other current assets $ 220.9 $ 172.5
Schedule of other non-current assets	Other non-current assets consist of the following: December 31, April 2, (millions) Derivative financial instruments $ 50.0 $ 23.7 Security deposits 32.1 30.6 Equity method and other investments 10.5 12.0 Cloud computing arrangement implementation costs 9.8 9.7 Deferred rent assets 6.9 5.2 Restricted cash 6.0 6.6 Other non-current assets 19.7 23.4 Total other non-current assets $ 135.0 $ 111.2
Schedule of accrued expenses and other current liabilities	Accrued expenses and other current liabilities consist of the following: December 31, April 2, (millions) Accrued inventory $ 271.4 $ 250.2 Accrued operating expenses 252.5 223.4 Accrued payroll and benefits 155.4 278.0 Other taxes payable 60.9 60.9 Dividends payable 49.5 48.1 Accrued capital expenditures 41.9 49.6 Deferred income 21.9 16.5 Finance lease obligations 19.9 19.8 Restructuring reserve 15.0 30.8 Other accrued expenses and current liabilities 10.1 14.1 Total accrued expenses and other current liabilities $ 898.5 $ 991.4
Schedule of non-current liabilities	Other non-current liabilities consist of the following: December 31, April 2, (millions) Deferred lease incentives and obligations $ 45.5 $ 52.7 Accrued benefits and deferred compensation 15.2 12.0 Deferred tax liabilities 13.8 12.5 Derivative financial instruments — 18.1 Other non-current liabilities 37.0 36.6 Total other non-current liabilities $ 111.5 $ 131.9

Restructuring and Other Charg_2

Restructuring and Other Charges (Tables) - Fiscal 2021 Strategic Realignment Plan	9 Months Ended
	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Costs	A summary of the charges recorded in connection with the Fiscal 2021 Strategic Realignment Plan during the fiscal periods presented, as well as the cumulative charges recorded since its inception (inclusive of immaterial other restructuring-related charges previously recorded during the first quarter of Fiscal 2021), is as follows: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, Cumulative Charges (millions) Cash-related restructuring charges: Severance and benefit costs (reversals) $ — $ — $ — $ (3.9) $ 138.5 Other cash charges 0.8 1.9 2.9 6.3 25.5 Total cash-related restructuring charges 0.8 1.9 2.9 2.4 164.0 Non-cash charges: Impairment of assets (see Note 7) — — 0.2 19.3 90.9 Inventory-related charges (a) — — — — 8.3 Accelerated stock-based compensation expense (b) — — — 2.0 2.0 Other non-cash charges — — 3.3 — 3.3 Total non-cash charges — — 3.5 21.3 104.5 Total charges $ 0.8 $ 1.9 $ 6.4 $ 23.7 $ 268.5 (a) Inventory-related charges are recorded within cost of goods sold in the consolidated statements of operations. (b) Accelerated stock-based compensation expense, which was recorded within restructuring and other charges, net in the consolidated statements of operations, related to vesting provisions associated with certain separation agreements.
Schedule of Restructuring Reserve by Type of Cost	A summary of current period activity in the restructuring reserve related to the Fiscal 2021 Strategic Realignment Plan is as follows: Severance and Benefit Costs Other Cash Charges Total (millions) Balance at April 2, 2022 $ 30.6 $ 0.1 $ 30.7 Additions charged to expense — 2.9 2.9 Cash payments applied against reserve (15.8) (3.0) (18.8) Non-cash adjustments (0.4) — (0.4) Balance at December 31, 2022 $ 14.4 $ — $ 14.4

Debt (Tables)

Debt (Tables)	9 Months Ended
Debt (Tables)	Dec. 31, 2022
Debt Disclosure [Abstract]
Schedule of Debt Instruments	Debt consists of the following: December 31, April 2, (millions) $400 million 3.750% Senior Notes (a) $ 398.2 $ 397.7 $500 million 1.700% Senior Notes (b) — 499.8 $750 million 2.950% Senior Notes (c) 739.8 738.8 Total debt 1,138.0 1,636.3 Less: current portion of long-term debt — 499.8 Total long-term debt $ 1,138.0 $ 1,136.5 (a) The carrying value of the 3.750% Senior Notes is presented net of unamortized debt issuance costs and original issue discount of $1.8 million and $2.3 million as of December 31, 2022 and April 2, 2022, respectively. (b) The carrying value of the 1.700% Senior Notes is presented net of unamortized debt issuance costs and original issue discount of $0.2 million as of April 2, 2022. (c) The carrying value of the 2.950% Senior Notes is presented net of unamortized debt issuance costs and original issue discount of $10.2 million and $11.2 million as of December 31, 2022 and April 2, 2022, respectively.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
Fair Value Measurements (Tables)	Dec. 31, 2022
Fair Value Disclosures [Abstract]
Fair value of financial assets and liabilities measured and recorded at fair value on recurring basis	The following table summarizes the Company's financial assets and liabilities that are measured and recorded at fair value on a recurring basis, excluding accrued interest components: December 31, April 2, (millions) Derivative assets (a) $ 56.3 $ 32.4 Derivative liabilities (a) 2.4 18.3 (a) Based on Level 2 measurements.
Carrying value and the estimated fair value of the Company's debt obligations	The following table summarizes the carrying values and the estimated fair values of the Company's debt instruments: December 31, 2022 April 2, 2022 Carrying Value (a) Fair Value (b) Carrying Value (a) Fair Value (b) (millions) $400 million 3.750% Senior Notes $ 398.2 $ 389.5 $ 397.7 $ 407.9 $500 million 1.700% Senior Notes — N/A 499.8 500.5 $750 million 2.950% Senior Notes 739.8 646.5 738.8 721.0 (a) See Note 10 for discussion of the carrying values of the Company's senior notes. (b) Based on Level 2 measurements.
Fair value measurements, nonrecurring	The following table summarizes impairment charges recorded by the Company during the fiscal periods presented to reduce the carrying values of certain long-lived assets to their estimated fair values as of the assessment date: Nine Months Ended December 31, 2022 December 25, 2021 Long-Lived Asset Category Total Impairments Fair Value Total Impairments Fair Value (millions) Property and equipment, net $ 0.2 $ — $ 1.0 $ — Operating lease right-of-use assets — N/A 18.3 16.8

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
Financial Instruments (Tables)	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Company's outstanding derivative instruments on a gross basis as recorded on its consolidated balance sheets	The following table summarizes the Company's outstanding derivative instruments recorded on its consolidated balance sheets as of December 31, 2022 and April 2, 2022: Notional Amounts Derivative Assets Derivative Liabilities Derivative Instrument (a) December 31, April 2, December 31, April 2, December 31, April 2, Balance Sheet Line (b) Fair Balance Sheet Line (b) Fair Balance Sheet Line (b) Fair Balance Sheet Line (b) Fair (millions) Designated Hedges : FC — Cash flow hedges $ 257.7 $ 236.5 PP $ 5.8 PP $ 6.6 AE $ 0.2 $ — Net investment hedges (c) 700.0 700.0 ONCA 50.0 ONCA 23.7 — ONCL 18.1 Total Designated Hedges 957.7 936.5 55.8 30.3 0.2 18.1 Undesignated Hedges : FC — Undesignated hedges (d) 231.3 225.0 PP 0.5 PP 2.1 AE 2.2 AE 0.2 Total Hedges $ 1,189.0 $ 1,161.5 $ 56.3 $ 32.4 $ 2.4 $ 18.3 (a) FC = Forward foreign currency exchange contracts. (b) PP = Prepaid expenses and other current assets; AE = Accrued expenses and other current liabilities; ONCA = Other non-current assets; ONCL = Other non-current liabilities. (c) Includes cross-currency swaps designated as hedges of the Company's net investment in certain foreign operations. (d) Relates to third-party and intercompany foreign currency-denominated exposures and balances.
Offsetting Assets	The Company presents the fair values of its derivative assets and liabilities recorded on its consolidated balance sheets on a gross basis, even when they are subject to master netting arrangements. However, if the Company were to offset and record the asset and liability balances of all of its derivative instruments on a net basis in accordance with the terms of each of its master netting arrangements, spread across nine separate counterparties, the amounts presented in the consolidated balance sheets as of December 31, 2022 and April 2, 2022 would be adjusted from the current gross presentation as detailed in the following table: December 31, 2022 April 2, 2022 Gross Amounts Presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet that are Subject to Master Netting Agreements Net Gross Amounts Presented in the Balance Sheet Gross Amounts Not Offset in the Balance Sheet that are Subject to Master Netting Agreements Net (millions) Derivative assets $ 56.3 $ (2.4) $ 53.9 $ 32.4 $ (0.2) $ 32.2 Derivative liabilities 2.4 (2.4) — 18.3 (0.2) 18.1
Gains (losses) recognized in AOCI or earnings from derivatives designated as hedging instruments	The following tables summarize the pretax impact of gains and losses from the Company's designated derivative instruments on its consolidated financial statements for the three-month and nine-month periods ended December 31, 2022 and December 25, 2021: Gains (Losses) Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Designated Hedges: FC — Cash flow hedges $ (6.0) $ 1.7 $ 22.5 $ 1.9 Net investment hedges — effective portion (53.4) 24.3 22.3 29.5 Net investment hedges — portion excluded from assessment of hedge effectiveness 10.7 (0.7) 22.1 11.1 Total Designated Hedges $ (48.7) $ 25.3 $ 66.9 $ 42.5 Location and Amount of Gains (Losses) from Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, Cost of Cost of Cost of Cost of (millions) Total amounts presented in the consolidated statements of operations in which the effects of related cash flow hedges are recorded $ (641.6) $ (617.3) $ (1,687.6) $ (1,514.4) Effects of cash flow hedging: FC — Cash flow hedges 8.6 1.4 15.1 1.5 Gains (Losses) from Net Investment Hedges Location of Gains (Losses) Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Net Investment Hedges: Net investment hedges — portion excluded from assessment of hedge effectiveness (a) $ 3.3 $ 2.9 $ 9.8 $ 8.6 Interest expense Total Net Investment Hedges $ 3.3 $ 2.9 $ 9.8 $ 8.6 (a) Amounts recognized in other comprehensive income (loss) ("OCI") relating to the effective portion of the Company's net investment hedges would be recognized in earnings only upon the sale or liquidation of the hedged net investment.
Gains (losses) recognized in earnings from derivatives not designated as hedging instruments	The following table summarizes the pretax impact of gains and losses from the Company's undesignated derivative instruments on its consolidated financial statements for the three-month and nine-month periods ended December 31, 2022 and December 25, 2021: Gains (Losses) Location of Gains (Losses) Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Undesignated Hedges: FC — Undesignated hedges $ (9.4) $ 4.1 $ 15.2 $ 4.6 Other income (expense), net Total Undesignated Hedges $ (9.4) $ 4.1 $ 15.2 $ 4.6

Equity (Tables)

Equity (Tables)	9 Months Ended
Equity (Tables)	Dec. 31, 2022
Equity [Abstract]
Summary of Repurchased Common Stock	A summary of the Company's repurchases of Class A common stock under its common stock repurchase program is as follows: Nine Months Ended December 31, December 25, (millions) Cost of shares repurchased $ 411.8 $ 300.0 Number of shares repurchased 4.4 2.5

Accumulated Other Comrehensive

Accumulated Other Comrehensive Income (Loss) (Tables)	9 Months Ended
Accumulated Other Comrehensive Income (Loss) (Tables)	Dec. 31, 2022
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table presents OCI activity, net of tax, accumulated in equity: Foreign Currency Translation Gains (Losses) (a) Net Unrealized Gains (Losses) on Cash Flow Hedges (b) Net Unrealized Gains (Losses) on Defined Benefit Plans (c) Total Accumulated Other Comprehensive Income (Loss) (millions) Balance at April 2, 2022 $ (189.7) $ 9.0 $ 0.4 $ (180.3) Other comprehensive income (loss), net of tax: OCI before reclassifications (28.8) 19.4 — (9.4) Amounts reclassified from AOCI to earnings — (13.0) (0.1) (13.1) Other comprehensive income (loss), net of tax (28.8) 6.4 (0.1) (22.5) Balance at December 31, 2022 $ (218.5) $ 15.4 $ 0.3 $ (202.8) Balance at March 27, 2021 $ (123.2) $ 4.6 $ (2.2) $ (120.8) Other comprehensive income (loss), net of tax: OCI before reclassifications (29.8) 1.6 0.1 (28.1) Amounts reclassified from AOCI to earnings — (1.2) (0.1) (1.3) Other comprehensive income (loss), net of tax (29.8) 0.4 — (29.4) Balance at December 25, 2021 $ (153.0) $ 5.0 $ (2.2) $ (150.2) (a) OCI before reclassifications to earnings related to foreign currency translation gains (losses) includes income tax provisions of $15.4 million an d $10.3 million for the nine-month periods ended December 31, 2022 and December 25, 2021, respectively. OCI before reclassifications to earnings for the nine-month periods ended December 31, 2022 and December 25, 2021 includes gains of $33.7 million (net of a $10.7 million income tax provision) and $31.0 million (net of a $9.6 million income tax provision), respectively, related to changes in the fair values of instruments designated as hedges of the Company's net investment in certain foreign operations (see Note 12). (b) OCI before reclassifications to earnings related to net unrealized gains (losses) on cash flow hedges are presented net of income tax provisions of $3.1 million and $0.3 million for the nine-month periods ended December 31, 2022 and December 25, 2021, respectively. The tax effects on amounts reclassified from AOCI to earnings are presented in a table below. (c) Activity is presented net of taxes, which were immaterial for both periods presented.
Reclassification out of Accumulated Other Comprehensive Income (Loss)	The following table presents reclassifications from AOCI to earnings for cash flow hedges, by component: Three Months Ended Nine Months Ended Location of December 31, December 25, December 31, December 25, (millions) Gains (losses) on cash flow hedges (a) : FC — Cash flow hedges $ 8.6 $ 1.4 $ 15.1 $ 1.5 Cost of goods sold Tax effect (1.3) (0.3) (2.1) (0.3) Income tax provision Net of tax $ 7.3 $ 1.1 $ 13.0 $ 1.2 (a) FC = Forward foreign currency exchange contracts.

Stock-based Compensation (Table

Stock-based Compensation (Tables)	9 Months Ended
Stock-based Compensation (Tables)	Dec. 31, 2022
Share-based Payment Arrangement [Abstract]
Summary of the total compensation expense and the associated income tax benefits recognized related to stock-based compensation arrangements	A summary of total stock-based compensation expense and the related income tax benefits recognized during the three-month and nine-month periods ended December 31, 2022 and December 25, 2021 is as follows: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Compensation expense $ 19.2 $ 22.0 $ 59.9 $ 62.6 (a) Income tax benefit (3.3) (3.3) (9.9) (9.9) (a) Includes $2.0 million of accelerated stock-based compensation expense recorded within restructuring and other charges, net in the consolidated statements of operations (see Note 8). All other stock-based compensation expense was recorded within SG&A expenses.
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Share Based Payment Award with Market Condition Valuation Assumptions [Table Text Block]	The assumptions used to estimate the fair value of TSR awards granted during the nine-month periods ended December 31, 2022 and December 25, 2021 were as follows: Nine Months Ended December 31, December 25, Expected volatility 49.9 % 46.8 % Expected dividend yield 3.0 % 2.2 % Risk-free interest rate 3.1 % 0.4 %
Service Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of restricted stock unit activity	A summary of service-based RSU activity during the nine months ended December 31, 2022 is as follows: Number of Service-based RSUs (thousands) Unvested at April 2, 2022 1,566 Granted 668 Vested (564) Forfeited (45) Unvested at December 31, 2022 1,625
Performance shares, including TSR awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Summary of restricted stock unit activity	A summary of performance-based RSU activity including TSR awards during the nine months ended December 31, 2022 is as follows: Number of (thousands) Unvested at April 2, 2022 542 Granted 261 Change due to performance and/or market condition achievement (58) Vested (269) Forfeited (3) Unvested at December 31, 2022 473

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
Segment Information (Tables)	Dec. 31, 2022
Segment Reporting [Abstract]
Net revenues by segment	Net revenues for each of the Company's segments are as follows: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Net revenues: North America $ 937.6 $ 928.7 $ 2,364.9 $ 2,293.9 Europe 469.3 462.9 1,378.4 1,313.3 Asia 386.2 382.6 1,036.7 940.7 Other non-reportable segments 39.2 41.2 122.8 147.9 Total net revenues $ 1,832.3 $ 1,815.4 $ 4,902.8 $ 4,695.8
Net operating income (loss) by segment	Operating income for each of the Company's segments is as follows: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Operating income (a) : North America $ 214.9 $ 229.6 $ 474.8 $ 586.5 Europe 109.6 97.1 317.4 353.4 Asia 89.8 85.6 234.2 189.4 Other non-reportable segments 36.9 38.5 114.1 106.2 451.2 450.8 1,140.5 1,235.5 Unallocated corporate expenses (161.3) (161.5) (456.2) (465.3) Unallocated restructuring and other charges, net (b) (7.8) (0.2) (20.3) (8.6) Total operating income $ 282.1 $ 289.1 $ 664.0 $ 761.6 (a) Segment operating income and unallocated corporate expenses during the three-month and nine-month periods ended December 31, 2022 and December 25, 2021 also included asset impairment charges (see Note 7), which are detailed below: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Asset impairment charges: North America $ — $ — $ — $ (0.4) Asia — — — (1.1) Other non-reportable segments — — — (0.3) Unallocated corporate expenses — — (0.2) (17.5) Total asset impairment charges $ — $ — $ (0.2) $ (19.3) (b) The three-month and nine-month periods ended December 31, 2022 and December 25, 2021 included certain unallocated restructuring and other charges, net (see Note 8), which are detailed below: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Unallocated restructuring and other charges, net: North America-related $ (0.4) $ — $ (0.4) $ 0.1 Europe-related — — 1.1 1.0 Asia-related — 0.8 0.2 1.2 Other non-reportable segment-related — — — (0.1) Corporate operations-related (0.4) 0.4 (3.6) (3.5) Unallocated restructuring benefits (charges) (0.8) 1.2 (2.7) (1.3) Other charges (see Note 8) (7.0) (1.4) (17.6) (7.3) Total unallocated restructuring and other charges, net $ (7.8) $ (0.2) $ (20.3) $ (8.6)
Asset impairment charges by segment	Segment operating income and unallocated corporate expenses during the three-month and nine-month periods ended December 31, 2022 and December 25, 2021 also included asset impairment charges (see Note 7), which are detailed below: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Asset impairment charges: North America $ — $ — $ — $ (0.4) Asia — — — (1.1) Other non-reportable segments — — — (0.3) Unallocated corporate expenses — — (0.2) (17.5) Total asset impairment charges $ — $ — $ (0.2) $ (19.3)
Unallocated restructuring and other charges	The three-month and nine-month periods ended December 31, 2022 and December 25, 2021 included certain unallocated restructuring and other charges, net (see Note 8), which are detailed below: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Unallocated restructuring and other charges, net: North America-related $ (0.4) $ — $ (0.4) $ 0.1 Europe-related — — 1.1 1.0 Asia-related — 0.8 0.2 1.2 Other non-reportable segment-related — — — (0.1) Corporate operations-related (0.4) 0.4 (3.6) (3.5) Unallocated restructuring benefits (charges) (0.8) 1.2 (2.7) (1.3) Other charges (see Note 8) (7.0) (1.4) (17.6) (7.3) Total unallocated restructuring and other charges, net $ (7.8) $ (0.2) $ (20.3) $ (8.6)
Depreciation and amortization by segment	Depreciation and amortization expense for the Company's segments is as follows: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Depreciation and amortization expense: North America $ 18.5 $ 17.8 $ 54.7 $ 53.5 Europe 8.0 7.4 23.1 22.7 Asia 11.9 13.1 35.5 38.9 Other non-reportable segments — — — 0.4 Unallocated corporate 16.8 17.9 50.0 53.8 Total depreciation and amortization expense $ 55.2 $ 56.2 $ 163.3 $ 169.3
Net revenues by geographic location	Net revenues by geographic location of the reporting subsidiary are as follows: Three Months Ended Nine Months Ended December 31, December 25, December 31, December 25, (millions) Net revenues (a) : The Americas (b) $ 983.1 $ 974.5 $ 2,506.3 $ 2,451.8 Europe (c) 463.0 458.0 1,359.8 1,302.5 Asia (d) 386.2 382.9 1,036.7 941.5 Total net revenues $ 1,832.3 $ 1,815.4 $ 4,902.8 $ 4,695.8 (a) Net revenues for certain of the Company's licensed operations are included within the geographic location of the reporting subsidiary which holds the respective license. (b) Includes the U.S., Canada, and Latin America. Net revenues earned in the U.S. during the three-month and nine-month periods ended December 31, 2022 were $941.3 million and $2.391 billion, respectively, and $939.2 million and $2.356 billion, during the three-month and nine-month periods ended December 25, 2021, respectively. (c) Includes the Middle East. (d) Includes Australia and New Zealand.

Additional Financial Informat_2

Additional Financial Information (Tables)	9 Months Ended
Additional Financial Information (Tables)	Dec. 31, 2022
Supplemental Cash Flow Information [Abstract]
Schedule of Cash, Cash Equivalents, and Restricted Cash	A reconciliation of cash, cash equivalents, and restricted cash as of December 31, 2022 and April 2, 2022 from the consolidated balance sheets to the consolidated statements of cash flows is as follows: December 31, April 2, (millions) Cash and cash equivalents $ 1,566.1 $ 1,863.8 Restricted cash included within prepaid expenses and other current assets 1.4 1.6 Restricted cash included within other non-current assets 6.0 6.6 Total cash, cash equivalents, and restricted cash $ 1,573.5 $ 1,872.0
Cash Paid for Interest and Taxes	Cash paid for interest and income taxes is as follows: Nine Months Ended December 31, December 25, (millions) Cash paid for interest $ 34.7 $ 41.0 Cash paid for income taxes, net of refunds 85.4 168.2
Cash Paid for Leases	The following table summarizes certain cash flow information related to the Company's leases: Nine Months Ended December 31, December 25, (millions) Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows for operating leases $ 253.3 $ 283.9 Operating cash flows for finance leases 8.4 9.3 Financing cash flows for finance leases 15.9 16.8

Description of Business (Detail

Description of Business (Details)	9 Months Ended
Description of Business (Details)	Dec. 31, 2022 Segment
Description of Business [Abstract]
Number of reportable segments	3

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) $ in Millions	Dec. 31, 2022 USD ($)
Accounting Policies [Abstract]
Contractually-Guaranteed Minimum Royalties - Remainder of Fiscal 2023	$ 14.5
Contractually-Guaranteed Minimum Royalties - Fiscal 2024	98.9
Contractually-Guaranteed Minimum Royalties - Fiscal 2025	62.8
Contractually-Guaranteed Minimum Royalties - Fiscal 2026	44
Contractually-Guaranteed Minimum Royalties - Fiscal 2027	40.7
Contractually-Guaranteed Minimum Royalties - Fiscal 2028 and Thereafter	11.3
Contractually-Guaranteed Minimum Royalties - Total	$ 272.2

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Details 1) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 31, 2022	Dec. 25, 2021
Disaggregation of Revenue [Line Items]
Net revenues	$ 1,832.3	$ 1,815.4	$ 4,902.8	$ 4,695.8
North America segment [Member]
Disaggregation of Revenue [Line Items]
Net revenues	937.6	928.7	2,364.9	2,293.9
Europe segment [Member]
Disaggregation of Revenue [Line Items]
Net revenues	469.3	462.9	1,378.4	1,313.3
Asia segment [Member]
Disaggregation of Revenue [Line Items]
Net revenues	386.2	382.6	1,036.7	940.7
Other Non-Reportable Segment-Related [Member]
Disaggregation of Revenue [Line Items]
Net revenues	39.2	41.2	122.8	147.9
Transferred at Point in Time [Member] \| Retail [Member]
Disaggregation of Revenue [Line Items]
Net revenues	1,269.9	1,249	3,154.5	3,031.8
Transferred at Point in Time [Member] \| Retail [Member] \| North America segment [Member]
Disaggregation of Revenue [Line Items]
Net revenues	653.5	638.4	1,515.3	1,472.5
Transferred at Point in Time [Member] \| Retail [Member] \| Europe segment [Member]
Disaggregation of Revenue [Line Items]
Net revenues	254.9	246.4	675.6	646.7
Transferred at Point in Time [Member] \| Retail [Member] \| Asia segment [Member]
Disaggregation of Revenue [Line Items]
Net revenues	361.5	364.2	963.6	885.4
Transferred at Point in Time [Member] \| Retail [Member] \| Other Non-Reportable Segment-Related [Member]
Disaggregation of Revenue [Line Items]
Net revenues	0	0	0	27.2
Transferred at Point in Time [Member] \| Wholesale [Member]
Disaggregation of Revenue [Line Items]
Net revenues	523.2	525.4	1,625.5	1,548.8
Transferred at Point in Time [Member] \| Wholesale [Member] \| North America segment [Member]
Disaggregation of Revenue [Line Items]
Net revenues	284.1	290.3	849.6	821.4
Transferred at Point in Time [Member] \| Wholesale [Member] \| Europe segment [Member]
Disaggregation of Revenue [Line Items]
Net revenues	214.4	216.5	702.8	666.6
Transferred at Point in Time [Member] \| Wholesale [Member] \| Asia segment [Member]
Disaggregation of Revenue [Line Items]
Net revenues	24.7	18.4	73.1	55.3
Transferred at Point in Time [Member] \| Wholesale [Member] \| Other Non-Reportable Segment-Related [Member]
Disaggregation of Revenue [Line Items]
Net revenues	0	0.2	0	5.5
Transferred over Time [Member] \| Licensing [Member]
Disaggregation of Revenue [Line Items]
Net revenues	39.2	41	122.8	115.2
Transferred over Time [Member] \| Licensing [Member] \| North America segment [Member]
Disaggregation of Revenue [Line Items]
Net revenues	0	0	0	0
Transferred over Time [Member] \| Licensing [Member] \| Europe segment [Member]
Disaggregation of Revenue [Line Items]
Net revenues	0	0	0	0
Transferred over Time [Member] \| Licensing [Member] \| Asia segment [Member]
Disaggregation of Revenue [Line Items]
Net revenues	0	0	0	0
Transferred over Time [Member] \| Licensing [Member] \| Other Non-Reportable Segment-Related [Member]
Disaggregation of Revenue [Line Items]
Net revenues	$ 39.2	$ 41	$ 122.8	$ 115.2

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Details 2) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 31, 2022	Dec. 25, 2021
Accounting Policies [Abstract]
Shipping Costs	$ 25.7	$ 24.1	$ 60.7	$ 52.9
Handling Costs	$ 51.5	$ 43.4	$ 128.2	$ 113.6

Summary of Significant Accoun_7

Summary of Significant Accounting Policies (Details 3) - shares shares in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 31, 2022	Dec. 25, 2021
Summary of basic and diluted shares
Basic shares	66.5	73.2	68.2	73.7
Dilutive effect of RSUs and stock options	1.1	1.1	1.2	1.3
Diluted shares	67.6	74.3	69.4	75
Summary of Significant Accounting Policies (Textual) [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount			0.3	0.4

Summary of Significant Accoun_8

Summary of Significant Accounting Policies (Details 4) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 31, 2022	Dec. 25, 2021
Sales Returns and Allowances [Member]
Rollforward of activity in the Company's allowance for doubtful accounts and its aggregate reserves for returns, discounts, end-of-season markdowns and operational chargebacks
Beginning reserve balance	$ 166.8	$ 184.8	$ 180.7	$ 173.7
Amount charged against revenue to increase reserve	96.6	101.1	298.8	289.8
Amount credited against customer accounts to decrease reserve	(114.2)	(106)	(316.9)	(283.2)
Foreign currency translation	7.5	(4.3)	(5.9)	(4.7)
Ending reserve balance	156.7	175.6	156.7	175.6
Allowance for Doubtful Accounts
Rollforward of activity in the Company's allowance for doubtful accounts and its aggregate reserves for returns, discounts, end-of-season markdowns and operational chargebacks
Beginning reserve balance	27.7	37.9	34	40.1
Amount recorded to expense to increase (decrease) reserve	(0.4)	(1.8)	0.2	(2.7)
Amount credited against customer accounts to decrease reserve	(0.6)	(0.5)	(5.5)	(1.8)
Foreign currency translation	1	(0.7)	(1)	(0.7)
Ending reserve balance	$ 27.7	$ 34.9	$ 27.7	$ 34.9

Summary of Significant Accoun_9

Summary of Significant Accounting Policies (Details Textual) $ in Millions	9 Months Ended	12 Months Ended
	Dec. 31, 2022 USD ($) Customer	Apr. 02, 2022 USD ($)	Dec. 25, 2021 USD ($)
Summary of Significant Accounting Policies (Textual) [Abstract]
Deferred income	$ 22	$ 16.6
Wholesale customer payment terms	30 to 120 days
Number Of Key Department Store Customers \| Customer	3
Inventory, Net	$ 1,238.4	$ 977.3	$ 929.1
Total Net Revenue [Member] \| Customer Concentration Risk \| Three largest wholesale customers
Summary of Significant Accounting Policies (Textual) [Abstract]
Contribution of Key Wholesale Customers		16%
Accounts Receivable [Member] \| Customer Concentration Risk \| Three largest wholesale customers
Summary of Significant Accounting Policies (Textual) [Abstract]
Contribution of Key Wholesale Customers	29%

Property and Equipment (Details

Property and Equipment (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Property and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 25, 2021	Dec. 31, 2022	Dec. 25, 2021	Apr. 02, 2022
Property and equipment, net
Land and improvements	$ 15.3		$ 15.3		$ 15.3
Buildings and improvements	470.3		470.3		480.4
Furniture and fixtures	598.4		598.4		589.6
Machinery and equipment	381.7		381.7		375.7
Capitalized software	544.9		544.9		532.1
Leasehold improvements	1,206.6		1,206.6		1,170.1
Construction in progress	54.3		54.3		55.4
Property and equipment, gross	3,271.5		3,271.5		3,218.6
Less: accumulated depreciation	(2,324)		(2,324)		(2,249.1)
Property and equipment, net	947.5		947.5		$ 969.5
Operating costs and expenses
Depreciation expense	$ 51.7	$ 51.8	$ 152.7	$ 156

Other Assets and Liabilities (D

Other Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2022	Apr. 02, 2022
Prepaid Expense and Other Assets, Current
Other taxes receivable	$ 49.8	$ 26.2
Non-trade receivables	38.1	41.4
Prepaid software maintenance	21.3	16.4
Prepaid advertising and marketing	17.9	7.9
Inventory return asset	16.7	8.3
Tenant allowances receivable, current	8	6.1
Prepaid occupancy costs	6.6	6
Prepaid logistic services	6.4	6.6
Derivative financial instruments, current	6.3	8.7
Prepaid insurance	6	3
Cloud computing arrangement implementation costs, current	5.6	4
Other prepaid expenses and other current assets	38.2	37.9
Prepaid expenses and other current assets	220.9	172.5
Other Assets, Noncurrent
Derivative financial instruments, noncurrent	50	23.7
Security deposits	32.1	30.6
Equity method and other investments	10.5	12
Cloud computing arrangement implementation costs, noncurrent	9.8	9.7
Deferred rent assets	6.9	5.2
Restricted cash, noncurrent	6	6.6
Other non-current assets	19.7	23.4
Total other non-current assets	135	111.2
Accrued Expenses and Other Current Liabilities
Accrued inventory	271.4	250.2
Accrued operating expenses	252.5	223.4
Accrued payroll and benefits	155.4	278
Other taxes payable	60.9	60.9
Dividends payable	49.5	48.1
Accrued capital expenditures	41.9	49.6
Deferred income	21.9	16.5
Finance lease obligations, current	19.9	19.8
Restructuring reserve, current	15	30.8
Other accrued expenses and current liabilities	10.1	14.1
Total accrued expenses and other current liabilities	898.5	991.4
Other Non-Current Liabilities
Deferred lease incentives and obligations	45.5	52.7
Accrued benefits and deferred compensation, noncurrent	15.2	12
Deferred tax liabilities	13.8	12.5
Derivative financial instruments, noncurrent	0	18.1
Other non-current liabilities	37	36.6
Total other non-current liabilities	$ 111.5	$ 131.9

Impairment of Assets (Details T

Impairment of Assets (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 31, 2022	Dec. 25, 2021
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Asset Impairment Charges	$ 0	$ 0	$ 0.2	$ 19.3
Fiscal 2021 Strategic Realignment Plan
Impaired Assets to be Disposed of by Method Other than Sale [Line Items]
Asset Impairment Charges	$ 0	$ 0	$ 0.2	$ 19.3

Restructuring and Other Charg_3

Restructuring and Other Charges (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Dec. 31, 2022	Apr. 02, 2022	Dec. 25, 2021	Dec. 31, 2022	Dec. 25, 2021
Restructuring Cost and Reserve [Line Items]
Other Charges	$ 7		$ 1.4	$ 17.6	$ 7.3
Fiscal 2021 Strategic Realignment Plan
Restructuring Cost and Reserve [Line Items]
Cash-related restructuring charges	0.8		1.9	2.9	2.4
Cash-related Restructuring Charges, Cost Incurred to Date	164			164
Non-cash charges	0		0	3.5	21.3
Non-cash Charges, Cost Incurred to Date	104.5			104.5
Restructuring and non-cash charges	0.8		1.9	6.4	23.7
Restructuring and Related Cost, Cost Incurred to Date	268.5			268.5
Fiscal 2021 Strategic Realignment Plan \| Severance and benefit costs (reversals)
Restructuring Cost and Reserve [Line Items]
Cash-related restructuring charges	0		0	0	(3.9)
Cash-related Restructuring Charges, Cost Incurred to Date	138.5			138.5
Fiscal 2021 Strategic Realignment Plan \| Other cash charges
Restructuring Cost and Reserve [Line Items]
Cash-related restructuring charges	0.8		1.9	2.9	6.3
Cash-related Restructuring Charges, Cost Incurred to Date	25.5			25.5
Restructuring Income		$ (0.9)	(3.1)	3.5
Fiscal 2021 Strategic Realignment Plan \| Impairment of assets
Restructuring Cost and Reserve [Line Items]
Non-cash charges	0		0	0.2	19.3
Non-cash Charges, Cost Incurred to Date	90.9			90.9
Fiscal 2021 Strategic Realignment Plan \| Inventory-related charges
Restructuring Cost and Reserve [Line Items]
Non-cash charges	0		0	0	0
Non-cash Charges, Cost Incurred to Date	8.3			8.3
Fiscal 2021 Strategic Realignment Plan \| Accelerated stock-based compensation expense
Restructuring Cost and Reserve [Line Items]
Non-cash charges	0		0	0	2
Non-cash Charges, Cost Incurred to Date	2			2
Fiscal 2021 Strategic Realignment Plan \| Other non-cash charges
Restructuring Cost and Reserve [Line Items]
Non-cash charges	0		$ 0	3.3	$ 0
Other non-cash charges, Cost incurred to date	$ 3.3			$ 3.3

Restructuring and Other Charg_4

Restructuring and Other Charges (Details 1) - Fiscal 2021 Strategic Realignment Plan - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 31, 2022	Dec. 25, 2021
Restructuring Reserve [Roll Forward]
Beginning Reserve Balance			$ 30.7
Additions charged to expense	$ 0.8	$ 1.9	2.9	$ 2.4
Cash payments applied against reserve			(18.8)
Non-cash adjustments			(0.4)
Ending Reserve Balance	14.4		14.4
Severance and benefit costs (reversals)
Restructuring Reserve [Roll Forward]
Beginning Reserve Balance			30.6
Additions charged to expense	0	0	0	(3.9)
Cash payments applied against reserve			(15.8)
Non-cash adjustments			(0.4)
Ending Reserve Balance	14.4		14.4
Other cash charges
Restructuring Reserve [Roll Forward]
Beginning Reserve Balance			0.1
Additions charged to expense	0.8	$ 1.9	2.9	$ 6.3
Cash payments applied against reserve			(3)
Non-cash adjustments			0
Ending Reserve Balance	$ 0		$ 0

Restructuring and Other Charg_5

Restructuring and Other Charges (Details Textual) - USD ($) $ in Millions	3 Months Ended			9 Months Ended		12 Months Ended
	Dec. 31, 2022	Apr. 02, 2022	Dec. 25, 2021	Dec. 31, 2022	Dec. 25, 2021	Apr. 02, 2022
Restructuring Cost and Reserve [Line Items]
Gain (Loss) on Disposition of Stock in Subsidiary				$ 0
Club Monaco earn-out payment period				5 years
Other Charges	$ 7		$ 1.4	$ 17.6	$ 7.3
Charges primarily related to rent and occupancy costs associated with previously exited real estate locations [Member]
Restructuring Cost and Reserve [Line Items]
Other Charges	7		1.4	17.6	$ 7.3
Fiscal 2021 Strategic Realignment Plan \| Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	300			300
Fiscal 2021 Strategic Realignment Plan \| Cash-related restructuring charges [Member] \| Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	180			180
Fiscal 2021 Strategic Realignment Plan \| Non-cash related charges [Member] \| Minimum [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and Related Cost, Expected Cost	$ 120			120
Fiscal 2021 Strategic Realignment Plan \| Charitable Donation
Restructuring Cost and Reserve [Line Items]
Other Charges						$ 4
Fiscal 2021 Strategic Realignment Plan \| Other cash charges
Restructuring Cost and Reserve [Line Items]
Restructuring Income		$ (0.9)	$ (3.1)	$ 3.5

Income Taxes (Details Textual)

Income Taxes (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Income Taxes (Details Textual) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 25, 2021	Dec. 31, 2022	Dec. 25, 2021	Apr. 02, 2022
Income Tax Disclosure [Abstract]
Inflation Reduction Act, Percent Of Minimum Tax On Book Income	15%
Inflation Reduction Act, Percent Of Excise Tax On Net Stock Repurchases	1%
Effective tax rate	22.80%	21.40%	23.70%	20.60%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21%	21%	21%	21%
Non-current liability for unrecognized tax benefits	$ 97.4		$ 97.4		$ 91.9
Unrecognized tax benefits that, if recognized, would affect the effective tax rate	$ 62.4		$ 62.4		$ 60.1

Debt (Details)

Debt (Details) - USD ($) $ in Millions	Dec. 31, 2022	Apr. 02, 2022
Debt Instrument [Line Items]
Total debt	$ 1,138	$ 1,636.3
Short-term debt and current portion of long-term debt	0	499.8
Long-term debt	1,138	1,136.5
3.750% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes, Carrying Value, Noncurrent	398.2	397.7
Unamortized Debt Issuance Costs	(1.8)	(2.3)
1.700% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Note, Carrying Value, Current	0	499.8
Unamortized Debt Issuance Costs		(0.2)
2.950% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes, Carrying Value, Noncurrent	739.8	738.8
Unamortized Debt Issuance Costs	$ (10.2)	$ (11.2)

Debt (Details Textual)

Debt (Details Textual) - USD ($) $ in Millions			9 Months Ended
Debt (Details Textual) - USD ($) $ in Millions	Aug. 18, 2020	Sep. 26, 2018	Dec. 31, 2022	Dec. 26, 2020
2.125% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount		$ 300
Debt Instrument, Maturity Date		Sep. 26, 2018
Interest Rate on Debt		2.125%
2.625% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 300
Debt Instrument, Maturity Date	Aug. 18, 2020
Interest Rate on Debt	2.625%
3.750% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 400
Debt Instrument, Maturity Date			Sep. 15, 2025
Long-term debt, net of discount			99.521%
Interest Rate on Debt			3.75%
1.700% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 500
Debt Instrument, Maturity Date			Jun. 15, 2022
Long-term debt, net of discount			99.88%
Interest Rate on Debt			1.70%
2.950% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount			$ 750
Debt Instrument, Maturity Date			Jun. 15, 2030
Long-term debt, net of discount			98.995%
Interest Rate on Debt			2.95%
Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage			100%
Debt Instrument, Restrictive Covenants			The Indenture contains certain covenants that restrict the Company's ability, subject to specified exceptions, to incur certain liens; enter into sale and leaseback transactions; consolidate or merge with another party; or sell, lease, or convey all or substantially all of the Company's property or assets to another party. However, the Indenture does not contain any financial covenants.
Global Credit Facility [Member]
Debt Instrument [Line Items]
Repayments of Lines of Credit				$ 475

Debt (Details Textual 1)

Debt (Details Textual 1) ¥ in Millions, $ in Millions, ₩ in Billions, ¥ in Billions	9 Months Ended
	Dec. 31, 2022 USD ($) Quarter	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 KRW (₩)	Dec. 31, 2022 JPY (¥)	Apr. 02, 2022 USD ($)
Credit Facilities (Textual) [Abstract]
Commercial Paper	$ 0				$ 0
Maximum expected combined borrowings outstanding - Commercial Paper Program and Global Credit Facility	500
Commercial Paper [Member]
Credit Facilities (Textual) [Abstract]
Maximum borrowing capacity	$ 500
Commercial Paper [Member] \| Maximum [Member]
Credit Facilities (Textual) [Abstract]
Short-term Debt, Terms	397 days
Global Credit Facility [Member]
Credit Facilities (Textual) [Abstract]
Maximum borrowing capacity	$ 1,000
Borrowing capacity under unsecured revolving line of credit	$ 500
Line of credit facility, expiration date	Aug. 12, 2024
Borrowings outstanding under revolving credit facilities	$ 0				0
Line of credit facility, contingent liability for outstanding LOCs	$ 8.8				9.5
Credit facility covenant terms	The Global Credit Facility contains a number of covenants that, among other things, restrict the Company's ability, subject to specified exceptions, to incur additional debt; incur liens; sell or dispose of assets; merge with or acquire other companies; liquidate or dissolve itself; engage in businesses that are not in a related line of business; make loans, advances, or guarantees; engage in transactions with affiliates; and make certain investments. The Global Credit Facility also requires the Company to maintain a maximum ratio of Adjusted Debt to Consolidated EBITDAR (the "leverage ratio") of no greater than 4.25 as of the date of measurement for the four most recent consecutive fiscal quarters. Adjusted Debt is defined generally as consolidated debt outstanding, including finance lease obligations, plus all operating lease obligations. Consolidated EBITDAR is defined generally as consolidated net income plus (i) income tax expense, (ii) net interest expense, (iii) depreciation and amortization expense, (iv) operating lease cost, (v) restructuring and other non-recurring expenses, and (vi) acquisition-related costs.
Maximum Ratio Of Adjusted Debt To Consolidated EBITDAR As Of Date Of Measurement For Four Consecutive Quarters	4.25
Leverage Ratio Number Of Consecutive Fiscal Quarters Used \| Quarter	4
China Credit Facility [Member]
Credit Facilities (Textual) [Abstract]
Maximum borrowing capacity	$ 14	¥ 100
Line of credit facility, expiration date	Apr. 03, 2023
South Korea Credit Facility [Member]
Credit Facilities (Textual) [Abstract]
Maximum borrowing capacity	$ 23		₩ 30
Line of credit facility, expiration date	Oct. 27, 2023
Japan Overdraft Facility [Member]
Credit Facilities (Textual) [Abstract]
Maximum borrowing capacity	$ 37			¥ 5
Line of credit facility, expiration date	Apr. 28, 2023
Chinese Overdraft Facility
Credit Facilities (Textual) [Abstract]
Maximum borrowing capacity	$ 14	¥ 100
Line of credit facility, expiration date	Jun. 17, 2023
Pan-Asia Borrowing Facilities [Member]
Credit Facilities (Textual) [Abstract]
Borrowings outstanding under revolving credit facilities	$ 0				$ 0

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	Dec. 31, 2022	Apr. 02, 2022
Financial assets recorded at fair value:
Derivative Asset, Fair Value	$ 56.3	$ 32.4
Financial liabilities recorded at fair value:
Derivative Liability, Fair Value	2.4	18.3
Fair Value, Inputs, Level 2 [Member] \| Fair Value, Recurring [Member]
Financial assets recorded at fair value:
Derivative Asset, Fair Value	56.3	32.4
Financial liabilities recorded at fair value:
Derivative Liability, Fair Value	$ 2.4	$ 18.3

Fair Value Measurements (Deta_2

Fair Value Measurements (Details 1) - USD ($) $ in Millions	Dec. 31, 2022	Apr. 02, 2022
3.750% Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes, Carrying Value, Noncurrent	$ 398.2	$ 397.7
1.700% Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Note, Carrying Value, Current	0	499.8
2.950% Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes, Carrying Value, Noncurrent	739.8	738.8
Fair Value, Inputs, Level 2 [Member] \| 3.750% Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes, Fair Value	389.5	407.9
Fair Value, Inputs, Level 2 [Member] \| 1.700% Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes, Fair Value		500.5
Fair Value, Inputs, Level 2 [Member] \| 2.950% Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes, Fair Value	$ 646.5	$ 721

Fair Value Measurements (Deta_3

Fair Value Measurements (Details 2) - USD ($) $ in Millions	9 Months Ended
Fair Value Measurements (Details 2) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 25, 2021
Property, Plant and Equipment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value as of Impairment Date	$ 0	$ 0
Impairment of Long-Lived Assets	0.2	1
Operating Lease, Right-of-Use Asset [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value as of Impairment Date		16.8
Impairment of Long-Lived Assets	$ 0	$ 18.3

Fair Value Measurements (Deta_4

Fair Value Measurements (Details Textual) - USD ($) $ in Millions	9 Months Ended
	Dec. 31, 2022	Dec. 25, 2021
Fair Value Disclosures [Abstract]
Goodwill and other intangible asset impairment charges	$ 0	$ 0

Financial Instruments (Details)

Financial Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2022	Apr. 02, 2022
Notional Amounts of Derivative Financial Instruments
Notional amount of hedges	$ 1,189	$ 1,161.5
Derivative Assets
Derivative Asset, Fair Value	56.3	32.4
Derivative Liabilities
Derivative Liability, Fair Value	2.4	18.3
Designated [Member]
Notional Amounts of Derivative Financial Instruments
Notional amount of hedges	957.7	936.5
Derivative Assets
Derivative Asset, Fair Value	55.8	30.3
Derivative Liabilities
Derivative Liability, Fair Value	0.2	18.1
Undesignated [Member] \| Foreign Exchange Forward [Member]
Notional Amounts of Derivative Financial Instruments
Notional amount of hedges	231.3	225
Undesignated [Member] \| Foreign Exchange Forward [Member] \| Prepaid Expenses and Other Current Assets [Member]
Derivative Assets
Derivative Asset, Fair Value	0.5	2.1
Undesignated [Member] \| Foreign Exchange Forward [Member] \| Accrued Expenses and Other Current Liabilities [Member]
Derivative Liabilities
Derivative Liability, Fair Value	2.2	0.2
Cash Flow Hedging [Member] \| Designated [Member] \| Foreign Exchange Forward [Member]
Notional Amounts of Derivative Financial Instruments
Notional amount of hedges	257.7	236.5
Derivative Assets
Foreign Currency Cash Flow Hedge Asset at Fair Value	5.8	6.6
Derivative Liabilities
Foreign Currency Cash Flow Hedge Liability at Fair Value	0.2	0
Net Investment Hedging [Member] \| Designated [Member]
Notional Amounts of Derivative Financial Instruments
Notional amount of hedges	700	700
Net Investment Hedging [Member] \| Designated [Member] \| Other Noncurrent Assets [Member]
Derivative Assets
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Assets, Fair Value	50	23.7
Net Investment Hedging [Member] \| Designated [Member] \| Other Noncurrent Liabilities [Member]
Derivative Liabilities
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Liabilities, Fair Value	$ 0	$ 18.1

Financial Instruments (Details

Financial Instruments (Details 1) - USD ($) $ in Millions	Dec. 31, 2022	Apr. 02, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative asset, gross amount in the balance sheet	$ 56.3	$ 32.4
Gross amount of derivatives assets subject to master netting arrangements not offset	(2.4)	(0.2)
Derivative asset, net basis	53.9	32.2
Derivative liability, gross amount in the balance sheet	2.4	18.3
Gross amount of derivative liabilities subject to master netting arrangements not offset	(2.4)	(0.2)
Derivative liability, net basis	$ 0	$ 18.1

Financial Instruments (Detail_2

Financial Instruments (Details 2) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Financial Instruments (Details 2) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 25, 2021	Dec. 31, 2022	Dec. 25, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification and Tax	$ (6)	$ 1.7	$ 22.5	$ 1.9
Other Comprehensive Income, Designated Hedges, before Reclassifications and Tax	(48.7)	25.3	66.9	42.5
Cost of goods sold	(641.6)	(617.3)	(1,687.6)	(1,514.4)
Designated as Hedging Instrument [Member] \| Net Investment Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Excluded Component, Gain (Loss), Recognized in Earnings	3.3	2.9	9.8	8.6
Designated as Hedging Instrument [Member] \| Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member] \| Foreign Exchange Forward [Member] \| Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Cost of goods sold	8.6	1.4	15.1	1.5
Effective portion [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax	(53.4)	24.3	22.3	29.5
Portion excluded from assessment of hedge effectiveness [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Other Comprehensive Income (Loss), Net Investment Hedge, Gain (Loss), before Reclassification and Tax	10.7	(0.7)	22.1	11.1
Portion excluded from assessment of hedge effectiveness [Member] \| Designated as Hedging Instrument [Member] \| Net Investment Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative, Excluded Component, Gain (Loss), Recognized in Earnings	$ 3.3	$ 2.9	$ 9.8	$ 8.6

Financial Instruments (Detail_3

Financial Instruments (Details 3) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Financial Instruments (Details 3) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 25, 2021	Dec. 31, 2022	Dec. 25, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ (9.4)	$ 4.1	$ 15.2	$ 4.6
Foreign Exchange Forward [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ (9.4)	$ 4.1	$ 15.2	$ 4.6

Financial Instruments (Detail_4

Financial Instruments (Details Textual) $ in Millions	9 Months Ended
Financial Instruments (Details Textual) $ in Millions	Dec. 31, 2022 USD ($) counterparty
Derivative [Line Items]
Number of counterparties to master netting arrangements \| counterparty	9
Net gains (losses) deferred in AOCI for derivative financial instruments expected to be recognized in the earnings over the next 12 months \| $	$ 17.3
Minimum [Member] \| Foreign Exchange Forward [Member]
Derivative [Line Items]
Derivative, Term of Contract	2 months
Maximum [Member] \| Foreign Exchange Forward [Member]
Derivative [Line Items]
Derivative, Term of Contract	1 year

Financial Instruments (Detail_5

Financial Instruments (Details Textual 1) - USD ($) $ in Millions	Dec. 31, 2022	Apr. 02, 2022
Bank Time Deposits [Member]
Debt Securities, Available-for-sale [Line Items]
Short-term Investments	$ 131.4	$ 734.6

Equity (Details)

Equity (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 31, 2022	Dec. 25, 2021	Apr. 02, 2022
Equity, Class of Treasury Stock [Line Items]
Cost of shares repurchased	$ 28.5	$ 300.5	$ 445.8	$ 340.4
Stock Repurchase Program, Authorized Amount					$ 1,500
Stock Repurchase Program, Remaining Authorized Repurchase Amount	$ 1,217		1,217
General repurchase program [Member]
Equity, Class of Treasury Stock [Line Items]
Cost of shares repurchased			$ 411.8	$ 300
Number of shares repurchased			4.4	2.5
Withholding in satisfaction of taxes on vested equity award [Member]
Equity, Class of Treasury Stock [Line Items]
Cost of shares repurchased			$ 34	$ 40.4
Number of shares repurchased			0.3	0.3

Equity (Details Textual)

Equity (Details Textual) - $ / shares	3 Months Ended		9 Months Ended
Equity (Details Textual) - $ / shares	Dec. 31, 2022	Dec. 25, 2021	Dec. 31, 2022	Dec. 25, 2021
Dividends (Textual) [Abstract]
Inflation Reduction Act, Percent Of Excise Tax On Net Stock Repurchases	1%
Dividends declared per share	$ 0.75	$ 0.6875	$ 2.25	$ 2.0625
Dividends Payable, Date Declared	Dec. 16, 2022
Dividends Payable, Date of Record	Dec. 30, 2022
Dividends Payable, Date to be Paid	Jan. 13, 2023

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 31, 2022		Dec. 25, 2021
Accumulated Other Comprehensive Income (Loss), Net Of Tax [Roll Forward]
Beginning balance			$ (180.3)
OCI before reclassifications			(9.4)		$ (28.1)
Amounts reclassified from AOCI to earnings			(13.1)		(1.3)
Other comprehensive income (loss), net of tax	$ 54.5	$ (30.2)	(22.5)		(29.4)
Ending balance	(202.8)		(202.8)
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax			15.4		10.3
Gain (Loss) on Derivative Used in Net Investment Hedge, after Tax			33.7		31
Gain (Loss) on Derivative Used in Net Investment Hedge, Tax			10.7		9.6
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax			3.1		0.3
Foreign Currency Translation Gains (Losses) [Member]
Accumulated Other Comprehensive Income (Loss), Net Of Tax [Roll Forward]
Beginning balance			(189.7)		(123.2)
OCI before reclassifications			(28.8)		(29.8)
Amounts reclassified from AOCI to earnings			0		0
Other comprehensive income (loss), net of tax			(28.8)		(29.8)
Ending balance	(218.5)	(153)	(218.5)		(153)
Net Unrealized Gains (Losses) on Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss), Net Of Tax [Roll Forward]
Beginning balance			9		4.6
OCI before reclassifications			19.4		1.6
Amounts reclassified from AOCI to earnings			(13)		(1.2)
Other comprehensive income (loss), net of tax			6.4		0.4
Ending balance	15.4	5	15.4		5
Net Unrealized Gains (Losses) on Defined Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss), Net Of Tax [Roll Forward]
Beginning balance			0.4		(2.2)
OCI before reclassifications			0		0.1
Amounts reclassified from AOCI to earnings			(0.1)		(0.1)
Other comprehensive income (loss), net of tax			(0.1)		0
Ending balance	0.3	(2.2)	0.3		(2.2)
AOCI [Member]
Accumulated Other Comprehensive Income (Loss), Net Of Tax [Roll Forward]
Beginning balance			(180.3)		(120.8)
Other comprehensive income (loss), net of tax	54.5	(30.2)	(22.5)	[1]	(29.4)	[1]
Ending balance	$ (202.8)	$ (150.2)	$ (202.8)		$ (150.2)

[1]Accumulated other comprehensive income (loss).

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details 1) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Dec. 31, 2022	Dec. 25, 2021
Reclassification Adjustment out of Accumulated Other Comprehensive Income (Loss) on Derivatives [Line Items]
Cost of goods sold	$ (641.6)	$ (617.3)	$ (1,687.6)	$ (1,514.4)
Income tax benefit (provision)	(63.9)	(59.5)	(152.3)	(149.6)
Net income	216.5	217.7	490.4	575.7
Designated as Hedging Instrument [Member] \| Cash Flow Hedging [Member] \| Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income (Loss) on Derivatives [Line Items]
Income tax benefit (provision)	(1.3)	(0.3)	(2.1)	(0.3)
Net income	7.3	1.1	13	1.2
Designated as Hedging Instrument [Member] \| Foreign Exchange Forward [Member] \| Cash Flow Hedging [Member] \| Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income (Loss) on Derivatives [Line Items]
Cost of goods sold	$ 8.6	$ 1.4	$ 15.1	$ 1.5

Stock-based Compensation (Detai

Stock-based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Stock-based Compensation (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 25, 2021	Dec. 31, 2022	Dec. 25, 2021
Summary of the total compensation expense and the associated income tax benefits recognized related to stock-based compensation arrangements
Compensation expense	$ 19.2	$ 22	$ 59.9	$ 62.6
Income tax benefit	(3.3)	(3.3)	(9.9)	(9.9)
Fiscal 2021 Strategic Realignment Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-cash charges	0	0	3.5	21.3
Fiscal 2021 Strategic Realignment Plan \| Accelerated stock-based compensation expense
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-cash charges	$ 0	$ 0	$ 0	$ 2

Stock-based Compensation (Det_2

Stock-based Compensation (Details 1) - Service-based restricted stock units [Member] shares in Thousands	9 Months Ended
	Dec. 31, 2022 shares
Summary of RSU activity
Nonvested beginning balance	1,566
Granted	668
Vested	(564)
Forfeited	(45)
Nonvested ending balance	1,625

Stock-based Compensation (Det_3

Stock-based Compensation (Details 2) - Performance shares, including TSR awards shares in Thousands	9 Months Ended
	Dec. 31, 2022 shares
Summary of RSU activity
Nonvested beginning balance	542
Granted	261
Change due to performance and/or market condition achievement	(58)
Vested	(269)
Forfeited	(3)
Nonvested ending balance	473

Stock-based Compensation (Det_4

Stock-based Compensation (Details 3) - Market-based restricted stock units [Member]	9 Months Ended
	Dec. 31, 2022	Dec. 25, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	49.90%	46.80%
Expected dividend yield	3%	2.20%
Risk-free interest rate	3.10%	0.40%

Stock-based Compensation (Det_5

Stock-based Compensation (Details Textual) - $ / shares	9 Months Ended
Stock-based Compensation (Details Textual) - $ / shares	Dec. 31, 2022	Dec. 25, 2021
Service-based restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value of equity awards other than options	$ 92.07	$ 117.56
Performance-based restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value of equity awards other than options	92.45	117.79
Market-based restricted stock units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value of equity awards other than options	$ 124.62	$ 146.46

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Segment Information (Details) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 25, 2021	Dec. 31, 2022	Dec. 25, 2021
Net revenues by segment
Net revenues	$ 1,832.3	$ 1,815.4	$ 4,902.8	$ 4,695.8
North America segment [Member]
Net revenues by segment
Net revenues	937.6	928.7	2,364.9	2,293.9
Europe segment [Member]
Net revenues by segment
Net revenues	469.3	462.9	1,378.4	1,313.3
Asia segment [Member]
Net revenues by segment
Net revenues	386.2	382.6	1,036.7	940.7
Other non-reportable segments [Member]
Net revenues by segment
Net revenues	$ 39.2	$ 41.2	$ 122.8	$ 147.9

Segment Information (Details 1)

Segment Information (Details 1) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Segment Information (Details 1) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 25, 2021	Dec. 31, 2022	Dec. 25, 2021
Operating income by segment
Operating income	$ 282.1	$ 289.1	$ 664	$ 761.6
Unallocated restructuring and other charges, net	(7.8)	(0.2)	(20.3)	(8.6)
Unallocated charges [Member]
Operating income by segment
Unallocated corporate expenses	(161.3)	(161.5)	(456.2)	(465.3)
Unallocated restructuring and other charges, net	(7.8)	(0.2)	(20.3)	(8.6)
North America segment [Member]
Operating income by segment
Operating income	214.9	229.6	474.8	586.5
Europe segment [Member]
Operating income by segment
Operating income	109.6	97.1	317.4	353.4
Asia segment [Member]
Operating income by segment
Operating income	89.8	85.6	234.2	189.4
Other non-reportable segments [Member]
Operating income by segment
Operating income	36.9	38.5	114.1	106.2
Total Operating Segments
Operating income by segment
Operating income	$ 451.2	$ 450.8	$ 1,140.5	$ 1,235.5

Segment Information (Details 2)

Segment Information (Details 2) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Segment Information (Details 2) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 25, 2021	Dec. 31, 2022	Dec. 25, 2021
Segment Reporting Information [Line Items]
Asset Impairment Charges	$ 0	$ 0	$ (0.2)	$ (19.3)
Unallocated corporate expenses [Member]
Segment Reporting Information [Line Items]
Asset Impairment Charges	0	0	(0.2)	(17.5)
North America segment [Member]
Segment Reporting Information [Line Items]
Asset Impairment Charges	0	0	0	(0.4)
Asia segment [Member]
Segment Reporting Information [Line Items]
Asset Impairment Charges	0	0	0	(1.1)
Other non-reportable segments [Member]
Segment Reporting Information [Line Items]
Asset Impairment Charges	$ 0	$ 0	$ 0	$ (0.3)

Segment Information (Details 3)

Segment Information (Details 3) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Segment Information (Details 3) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 25, 2021	Dec. 31, 2022	Dec. 25, 2021
Segment Reporting Information [Line Items]
Unallocated restructuring benefits (charges)	$ (0.8)	$ 1.2	$ (2.7)	$ (1.3)
Other Charges	(7)	(1.4)	(17.6)	(7.3)
Unallocated restructuring and other charges, net	(7.8)	(0.2)	(20.3)	(8.6)
North America-Related [Member]
Segment Reporting Information [Line Items]
Unallocated restructuring benefits (charges)	(0.4)	0	(0.4)	0.1
Europe-Related [Member]
Segment Reporting Information [Line Items]
Unallocated restructuring benefits (charges)	0	0	1.1	1
Asia-Related [Member]
Segment Reporting Information [Line Items]
Unallocated restructuring benefits (charges)	0	0.8	0.2	1.2
Other Non-Reportable Segment-Related [Member]
Segment Reporting Information [Line Items]
Unallocated restructuring benefits (charges)	0	0	0	(0.1)
Corporate-Related [Member]
Segment Reporting Information [Line Items]
Unallocated restructuring benefits (charges)	$ (0.4)	$ 0.4	$ (3.6)	$ (3.5)

Segment Information (Details 4)

Segment Information (Details 4) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Segment Information (Details 4) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 25, 2021	Dec. 31, 2022	Dec. 25, 2021
Segment Reporting Information [Line Items]
Depreciation and amortization expense	$ 55.2	$ 56.2	$ 163.3	$ 169.3
North America segment [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization expense	18.5	17.8	54.7	53.5
Europe segment [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization expense	8	7.4	23.1	22.7
Asia segment [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization expense	11.9	13.1	35.5	38.9
Other non-reportable segments [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization expense	0	0	0	0.4
Unallocated Corporate [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization expense	$ 16.8	$ 17.9	$ 50	$ 53.8

Segment Information (Details 5)

Segment Information (Details 5) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Segment Information (Details 5) - USD ($) $ in Millions	Dec. 31, 2022	Dec. 25, 2021	Dec. 31, 2022	Dec. 25, 2021
Revenues from External Customers [Line Items]
Net revenues	$ 1,832.3	$ 1,815.4	$ 4,902.8	$ 4,695.8
Americas [Member]
Revenues from External Customers [Line Items]
Net revenues	983.1	974.5	2,506.3	2,451.8
Europe Member]
Revenues from External Customers [Line Items]
Net revenues	463	458	1,359.8	1,302.5
Asia [Member]
Revenues from External Customers [Line Items]
Net revenues	386.2	382.9	1,036.7	941.5
U.S. [Member]
Revenues from External Customers [Line Items]
Net revenues	$ 941.3	$ 939.2	$ 2,391	$ 2,356

Segment Information (Details Te

Segment Information (Details Textual)	9 Months Ended
Segment Information (Details Textual)	Dec. 31, 2022 Segment
Segment Reporting [Abstract]
Number of reportable segments	3

Additional Financial Informat_3

Additional Financial Information (Details) - USD ($) $ in Millions	9 Months Ended
	Dec. 31, 2022	Dec. 25, 2021	Apr. 02, 2022	Mar. 27, 2021
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents [Abstract]
Cash and Cash Equivalents	$ 1,566.1		$ 1,863.8
Restricted cash, current	1.4		1.6
Restricted cash, noncurrent	6		6.6
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	1,573.5	$ 2,285.4	$ 1,872	$ 2,588
Cash Paid for Interest and Taxes
Cash paid for interest	34.7	41
Cash paid for income taxes, net of refunds	85.4	168.2
Additional Financial Information (Textual)
Right-of-use asset obtained in exchange for operating lease liability	220.3	224.8
Right-of-use asset obtained in exchange for finance lease liability	0.3	0
Capital expenditures incurred but not yet paid	41.9	36
Cash Paid for Leases
Operating cash flows from operating leases	253.3	283.9
Operating cash flows from finance leases	8.4	9.3
Finance cash flows from finance leases	$ 15.9	$ 16.8