Foreign currency (gain) loss

^[1]

102.1

11.3

0.0

Total operating expenses

2,110.2

1,971.5

1,622.1

Income from operations

749.1

689.9

1,175.1

Other income, net

(1.7)

(5.4)

(3.7)

Interest expense, net

22.3

4.1

1.7

(13.3)

2.6

4.8

Income before provision for income taxes

741.8

688.6

1,172.3

Provision for income taxes

149.7

137.1

334.6

Net income

592.1

551.5

837.7

Less: Net income (loss) attributable to noncontrolling interest

0.2

(1.0)

(1.4)

Net income attributable to MKHL

$ 591.9

$ 552.5

$ 839.1

Net income per ordinary share attributable to MKHL:

Basic (in shares)

152,283,586

165,986,733

186,293,295

Diluted (in shares)

155,102,885

168,123,813

189,054,289

Basic (in dollars per share)

$ 3.89

$ 3.33

$ 4.50

Diluted (in dollars per share)

$ 3.82

$ 3.29

$ 4.44

Statements of Comprehensive Income:

Net income

$ 592.1

$ 551.5

$ 837.7

Foreign currency translation adjustments

147.4

(8.8)

18.5

Net (loss) gain on derivatives

(16.2)

8.7

(32.5)

Comprehensive income

723.3

551.4

823.7

Less: Net income (loss) attributable to noncontrolling interest

0.2

(1.0)

(1.4)

Less: Other comprehensive income (loss) attributable to noncontrolling interest

0.1

(0.4)

0.1

Comprehensive income attributable to MKHL

$ 723.0

$ 552.8

$ 825.0

[1]

Restructuring and other charges includes store closure costs recorded in connection with the Retail Fleet Optimization Plan, as well as transaction and transition costs recorded in connection with the acquisitions of Jimmy Choo Group Limited (formerly known as Jimmy Choo PLC) and Michael Kors (HK) Limited and Subsidiaries (see Note 3 and Note 9).

CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) $ in Millions	Total	Ordinary Shares	Additional Paid-in Capital	Treasury Shares	Accumulated Other Comprehensive (Loss) Income	Retained Earnings	Total Equity of MKHL	Non-controlling Interests
Beginning balance at Mar. 28, 2015	$ 2,241.0	$ 0.0	$ 636.7	$ (497.7)	$ (66.8)	$ 2,168.8	$ 2,241.0	$ 0.0
Beginning balance (in shares) at Mar. 28, 2015		206,487,000
Beginning balance (in shares) at Mar. 28, 2015				(6,830,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	837.7					839.1	839.1	(1.4)
Other comprehensive income (loss)	(14.0)				(14.1)		(14.1)	0.1
Comprehensive income	823.7						825.0	(1.3)
Noncontrolling interest in MK Panama and Jimmy Choo joint ventures	5.1							5.1
Forfeitures of restricted awards, net of vestings (in shares)		(35,000)
Exercise of employee share options	12.7		12.7				12.7
Exercise of employee share options (in shares)		1,632,000
Equity compensation expense	48.4		48.4				48.4
Tax benefits on exercise of share options	21.1		21.1				21.1
Purchase of treasury shares	(1,152.4)			$ (1,152.4)			(1,152.4)
Purchase of treasury shares (in shares)				(24,812,000)
Other	(0.1)					(0.1)	(0.1)
Ending balance (in shares) at Apr. 02, 2016				(31,642,000)
Ending balance (in shares) at Apr. 02, 2016		208,084,000
Ending balance at Apr. 02, 2016	1,999.5	$ 0.0	718.9	$ (1,650.1)	(80.9)	3,007.8	1,995.7	3.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	551.5					552.5	552.5	(1.0)
Other comprehensive income (loss)	(0.1)				0.3		0.3	(0.4)
Comprehensive income	551.4						552.8	(1.4)
Vesting of restricted awards, net of forfeitures (in shares)		454,000
Exercise of employee share options	8.4		8.4				8.4
Exercise of employee share options (in shares)		794,000
Equity compensation expense	33.9		33.9				33.9
Tax benefits on exercise of share options	6.6		6.6				6.6
Purchase of treasury shares	$ (1,004.8)			$ (1,004.8)			(1,004.8)
Purchase of treasury shares (in shares)				(21,857,000)
Ending balance (in shares) at Apr. 01, 2017	(53,499,189)			(53,499,000)
Ending balance (in shares) at Apr. 01, 2017	209,332,493	209,332,000
Ending balance at Apr. 01, 2017	$ 1,595.0	$ 0.0	767.8	$ (2,654.9)	(80.6)	3,560.3	1,592.6	2.4
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	592.1					591.9	591.9	0.2
Other comprehensive income (loss)	131.2				131.1		131.1	0.1
Comprehensive income	723.3						723.0	0.3
Noncontrolling interest in MK Panama and Jimmy Choo joint ventures	3.1							3.1
Partial repurchase of non-controlling interest	(0.5)		0.5				0.5	(1.0)
Vesting of restricted awards, net of forfeitures (in shares)		542,000
Exercise of employee share options	13.7		13.7				13.7
Exercise of employee share options (in shares)		1,117,000
Equity compensation expense	49.6		49.6				49.6
Purchase of treasury shares	(361.0)			$ (361.0)			(361.0)
Purchase of treasury shares (in shares)				(7,794,000)
Redemption of capital/dividends	(1.2)					(0.2)	(0.2)	(1.0)
Other	$ (0.5)		(0.5)				(0.5)
Ending balance (in shares) at Mar. 31, 2018	(61,292,684)			(61,293,000)
Ending balance (in shares) at Mar. 31, 2018	210,991,091	210,991,000
Ending balance at Mar. 31, 2018	$ 2,021.5	$ 0.0	$ 831.1	$ (3,015.9)	$ 50.5	$ 4,152.0	$ 2,017.7	$ 3.8

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
Cash flows from operating activities
Net income	$ 592.1	$ 551.5	$ 837.7
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	208.6	219.8	183.2
Equity compensation expense	49.6	33.9	48.4
Impairment of long-lived assets	32.7	199.2	10.9
Losses on store lease exits	29.0	0.0	0.0
Deferred income taxes	9.1	(60.3)	(1.9)
Loss on disposal of fixed assets	4.5	3.4	2.8
Amortization of deferred financing costs	4.4	0.9	0.9
Tax benefits on exercise of share options	(7.3)	(6.6)	(21.1)
Amortization of deferred rent	(4.0)	9.2	2.6
Foreign currency (gains) losses	(13.3)	2.6	4.8
Gain on acquisition of MK Korea	0.0	0.0	(3.7)
Other non-cash adjustments	0.0	0.0	2.9
Change in assets and liabilities:
Receivables, net	19.3	59.6	52.5
Inventories	46.0	20.6	(16.3)
Prepaid expenses and other current assets	49.1	(0.9)	(5.3)
Other assets	(4.8)	(7.9)	(0.4)
Accounts payable	(20.9)	37.5	14.2
Accrued expenses and other current liabilities	56.3	(54.4)	125.6
Other long-term liabilities	12.1	26.5	11.7
Net cash provided by operating activities	1,062.5	1,034.6	1,249.5
Cash flows from investing activities
Capital expenditures	(120.4)	(164.8)	(369.2)
Purchase of intangible assets	(3.2)	(5.5)	(11.4)
Investment in joint venture	0.0	0.0	(1.0)
Cash paid for business acquisitions, net of cash acquired	(1,414.5)	(480.6)	0.5
Realized gain on hedge related to Jimmy Choo acquisition	4.7	0.0	0.0
Net cash used in investing activities	(1,533.4)	(650.9)	(381.1)
Cash flows from financing activities
Debt borrowings	2,520.3	1,240.0	192.6
Debt repayments	(1,783.2)	(1,093.8)	(199.8)
Repurchase of treasury shares	(361.0)	(1,004.8)	(1,152.4)
Exercise of employee share options	13.7	8.4	12.7
Payment of deferred financing costs	0.0	0.0	(2.4)
Other financing activities	(0.2)	0.0	(0.1)
Net cash provided by (used in) financing activities	389.6	(850.2)	(1,149.4)
Effect of exchange rate changes on cash and cash equivalents	15.1	(5.9)	4.1
Net decrease in cash and cash equivalents	(66.2)	(472.4)	(276.9)
Beginning of period	229.6	702.0	978.9
End of period (including restricted cash of $0.3 million at March 31, 2018 and $1.9 million at April 1, 2017)	163.4	229.6	702.0
Supplemental disclosures of cash flow information
Cash paid for interest	11.0	3.5	1.5
Cash paid for income taxes	103.5	171.1	273.0
Supplemental disclosure of noncash investing and financing activities
Accrued capital expenditures	$ 26.3	$ 22.8	$ 33.6

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2018	Apr. 01, 2017
Statement of Cash Flows [Abstract]
Restricted cash	$ 0.3	$ 1.9

Business and Basis of Presentation

12 Months Ended

Mar. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Business and Basis of Presentation

Michael Kors Holdings Limited (“MKHL,” and together with its subsidiaries, the “Company”) was incorporated in the British Virgin Islands (“BVI”) on December 13, 2002. The Company is a leading designer, marketer, distributor and retailer of branded women’s and men’s accessories, apparel and footwear bearing the Michael Kors and Jimmy Choo tradenames and related trademarks “MICHAEL KORS,” “MICHAEL MICHAEL KORS,” “JIMMY CHOO,” and various other related trademarks and logos. The Company’s business consists of four reportable segments: Michael Kors (“MK”) Retail, MK Wholesale, MK Licensing and Jimmy Choo. See Note 19 for additional information.

The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) and include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. The Company’s audited consolidated financial statements include the following operations for the periods from the respective acquisition/consolidation date through March 31, 2018:


•	Jimmy Choo Group Limited, formerly known as Jimmy Choo PLC (“Jimmy Choo”), acquired on November 1, 2017;


•	the previously licensed business in the Greater China region, Michael Kors (HK) Limited and Subsidiaries (“MKHKL”) with operations in China, Hong Kong, Macau and Taiwan, which was acquired on May 31, 2016;


•	the previously licensed business in South Korea (“MK Korea”), which was acquired on January 1, 2016; and


•	the Latin American joint venture, MK (Panama) Holdings, S.A. and subsidiaries (“MK Panama”), in which the Company obtained controlling interest on June 28, 2015 upon making a series of capital contributions to MK Panama.

See Note 3 for additional information related to the above acquisitions.

The Company utilizes a 52 to 53 week fiscal year ending on the Saturday closest to March 31. As such, the fiscal years ending on March 31, 2018 and April 1, 2017 (“Fiscal 2018” and “Fiscal 2017”, respectively) contain 52 weeks, whereas the fiscal year ending on April 2, 2016 (“Fiscal 2016”) contained 53 weeks.

Summary of Significant Accounting Policies

12 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Use of Estimates

The preparation of financial statements in accordance with U.S. GAAP requires management to use judgment and make estimates that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The level of uncertainty in estimates and assumptions increases with the length of time until the underlying transactions are completed. The most significant assumptions and estimates involved in preparing the financial statements include allowances for customer deductions, sales returns, sales discounts and doubtful accounts, estimates related to the Company’s new customer loyalty program, estimates of inventory recovery, the valuation of share-based compensation, valuation of deferred taxes and the estimated useful lives used for amortization and depreciation of intangible assets and property and equipment. Actual results could differ from those estimates.

Reclassifications

Certain reclassifications have been made to the prior periods’ financial information in order to conform to the current period’s presentation. The Company reclassified $11.3 million of transaction costs recorded in Fiscal 2017 in connection with the acquisition of MKHKL from selling, general and administrative expenses to restructuring and other charges in the Company’s consolidated statements of operations and comprehensive income to provide a more transparent disclosure of these costs. In addition, the Company reclassified $6.6 million and $21.1 million of excess tax benefits from net cash used in financing activities to net cash provided by operating activities in Fiscal 2017 and Fiscal 2016, respectively, within the Company’s consolidated statements of cash flows, in connection with the adoption of ASU No. 2016-09.

Seasonality

The Company experiences certain effects of seasonality with respect to its business. The Company’s MK Retail segment generally experiences greater sales during its third fiscal quarter as a result of holiday season sales. The MK Wholesale segment generally experiences the lowest sales in its first fiscal quarter. The Jimmy Choo segment generally experiences greater sales during its third fiscal quarter, primarily driven by the product launch calendar and holiday season sales. In the aggregate, the Company’s first fiscal quarter typically experiences less sales volume relative to the other three quarters and its third fiscal quarter generally has higher sales volume relative to the other three quarters.

Revenue Recognition

Revenue is recognized when there is persuasive evidence of an arrangement, delivery has occurred, the price has been fixed and determinable and collectability is reasonably assured. The Company recognizes retail store revenues upon sale of its products to retail consumers, net of estimated returns. Revenue from sales through the Company’s e-commerce sites is recognized at the time of delivery to the customer, reduced by an estimate of returns. Wholesale revenue is recognized net of estimates for sales returns, discounts, markdowns and allowances, after merchandise is shipped and the title and risk of loss are transferred to the Company’s wholesale customers. To arrive at net sales for retail, gross sales are reduced by actual customer returns as well as by a provision for estimated future customer returns, which is based on management’s review of historical and current customer returns. Sales taxes collected from retail customers are presented on a net basis and, as such, are excluded from revenue. To arrive at net sales for wholesale, gross sales are reduced by provisions for estimated future returns, based on current expectations, as well as trade discounts, markdowns, allowances, operational chargebacks, and certain cooperative selling expenses. These estimates are based on such factors as historical trends, actual and forecasted performance, and market conditions, which are reviewed by management on a quarterly basis.

The following table details the activity and balances of the Company’s sales reserves for the fiscal years ended March 31, 2018, April 1, 2017, and April 2, 2016 (in millions):



	Balance Beginning of Year		Amounts Charged to Revenue		Write-offs Against Reserves			Balance at Year End
Retail
Return Reserves:
Fiscal year ended March 31, 2018	$	7.3	$	160.7	$	(155.9	)	$	12.1
Fiscal year ended April 1, 2017	4.7		102.4		(99.8		)	7.3
Fiscal year ended April 2, 2016	2.5		71.7		(69.5		)	4.7



	Balance Beginning of Year		Amounts Charged to Revenue		Write-offs Against Reserves			Balance at Year End
Wholesale
Total Sales Reserves:
Fiscal year ended March 31, 2018	$	96.7	$	257.7	$	(245.8	)	$	108.6
Fiscal year ended April 1, 2017	110.9		271.1		(285.3		)	96.7
Fiscal year ended April 2, 2016	87.5		348.4		(325.0		)	110.9

Royalty revenue generated from product licenses, which includes contributions for advertising, is based on reported sales of licensed products bearing the Company’s tradenames at rates specified in the license agreements. These agreements are also subject to contractual minimum levels. Royalty revenue generated by geographic licensing agreements is recognized as it is earned under the licensing agreements based on reported sales of licensees applicable to specified periods, as outlined in the agreements. These agreements allow for the use of the Company’s tradenames to sell its branded products in specific geographic regions.

Loyalty Program

During Fiscal 2018, the Company launched its Michael Kors customer loyalty program in the U.S., which allows customers to earn points on qualifying purchases toward monetary and non-monetary rewards that may be redeemed for purchases at the Company’s U.S. retail stores and e-commerce site. The Company defers a portion of the initial sales transaction based on the estimated relative fair value of the benefits using statistical formulas based on projected timing of future redemptions and historical activity. These amounts include estimated “breakage” for points that are not expected to be redeemed. The deferred revenue, net of an estimated “breakage,” is recorded as a reduction to revenue in the consolidated statements of income and comprehensive income and within accrued expenses and other current liabilities in the Company’s consolidated balance sheets.

Advertising and Marketing Costs

Advertising and marketing costs are expensed over the period of benefit and are recorded in general and administrative expenses. Advertising and marketing expense was $167.1 million, $118.7 million and $103.9 million in Fiscal 2018, Fiscal 2017 and Fiscal 2016, respectively.

Cooperative advertising expense, which represents the Company’s participation in advertising expenses of its wholesale customers, is reflected as a reduction of net sales. Expenses related to cooperative advertising for Fiscal 2018, Fiscal 2017 and Fiscal 2016, were $6.3 million, $5.4 million and $7.4 million, respectively.

Shipping and Handling

Freight-in expenses are recorded as part of cost of goods sold, along with product costs and other costs to acquire inventory. The costs of preparing products for sale, including warehousing expenses, are included in selling, general and administrative expenses. Selling, general and administrative expenses also include the costs of shipping products to the Company’s e-commerce customers. Shipping and handling costs included within selling, general and administrative expenses in the Company’s consolidated statements of operations and comprehensive income were $107.6 million, $102.1 million and $98.6 million for Fiscal 2018, Fiscal 2017 and Fiscal 2016, respectively. Shipping and handling costs charged to customers are included in total revenue.

Cash and Cash Equivalents

All highly liquid investments with original maturities of three months or less are considered to be cash equivalents. Included in the Company’s cash and cash equivalents as of March 31, 2018 and April 1, 2017 are credit card receivables of $21.2 million and $13.9 million, respectively, which generally settle within two to three business days.

At March 31, 2018 and April 1, 2017, the Company had restricted cash of $0.3 million and $1.9 million, respectively, primarily related to European customs obligations, which was recorded within prepaid expenses and other current assets in the Company’s consolidated balance sheets.

Inventories

Inventories consist of finished goods and are stated at the lower of cost or net realizable value. Cost is determined using the weighted-average cost method. Costs include amounts paid to independent manufacturers, plus duties and freight to bring the goods to the Company’s warehouses, which are located in the United States, Canada, Holland, Switzerland, United Kingdom, United Arab Emirates, China, Japan, Hong Kong and South Korea. The Company continuously evaluates the composition of its inventory and makes adjustments when the cost of inventory is not expected to be fully recoverable. The net realizable value of the Company’s inventory is estimated based on historical experience, current and forecasted demand, and market conditions. In addition, reserves for inventory losses are estimated based on historical experience and physical inventory counts. The Company’s inventory reserves are estimates, which could vary significantly from actual results if future economic conditions, customer demand or competition differ from expectations. Our historical estimates of these adjustments have not differed materially from actual results.

Store Pre-opening Costs

Costs associated with the opening of new retail stores and start up activities, are expensed as incurred.

Property and Equipment

Property and equipment is stated at cost less accumulated depreciation and amortization (carrying value). Depreciation is recorded on a straight-line basis over the expected remaining useful lives of the related assets. Equipment, furniture and fixtures, are depreciated over five to seven years, computer hardware and software are depreciated over three to five years. The Company’s share of the cost of constructing in-store shop displays within its wholesale customers’ floor-space (“shop-in-shops”), which is paid directly to third-party suppliers, is capitalized as property and equipment and is generally amortized over a useful life of three to four years. Leasehold improvements are amortized using the straight-line method over the shorter of the estimated remaining useful lives of the related assets or the remaining lease term, including highly probable renewal periods. The Company includes all depreciation and amortization expense as a component of total operating expenses, as the underlying long-lived assets are not directly or indirectly related to bringing the Company’s products to their existing location and condition. Maintenance and repairs are charged to expense in the year incurred.

The Company capitalizes, in property and equipment, direct costs incurred during the application development stage and the implementation stage for developing, purchasing or otherwise acquiring software for its internal use. These costs are amortized over the estimated useful lives of the software, generally five years. All costs incurred during the preliminary project stage, including project scoping and identification and testing of alternatives, are expensed as incurred.

Definite-Lived Intangible Assets

The Company’s definite-lived intangible assets consist of trademarks, lease rights and customer relationships and are stated at cost less accumulated amortization. Michael Kors trademarks are amortized over twenty years, customer relationships are amortized over five to eighteen years, and lease rights are amortized over the terms of the related lease agreements, including highly probable renewal periods, on a straight-line basis. Reacquired rights recorded in connection with the acquisition of MKHKL are amortized through March 31, 2041, the original expiration date of the Company’s license agreement in the Greater China region.

Impairment of Long-lived Assets

The Company evaluates its long-lived assets, including fixed assets and definite-lived intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of any such asset may not be recoverable. The Company’s impairment testing is based on its best estimate of its future operating cash flows. If the sum of estimated undiscounted future cash flows associated with the asset is less than the asset’s carrying value, an impairment charge is recognized, which is measured as the amount by which the carrying value exceeds the fair value of the asset. These estimates of cash flow require significant management judgment and certain assumptions about future volume, sales and expense growth rates, devaluation and inflation. As such, these estimates may differ from actual cash flows.

Goodwill and Other Indefinite-lived Intangible Assets

The Company records intangible assets based on their fair value on the date of acquisition. Goodwill is recorded for the difference between the fair value of the purchase consideration over the fair value of the net identifiable tangible and intangible assets acquired. The brand intangible asset recorded in connection with the Jimmy Choo acquisition was determined to be an indefinite-lived intangible asset, which is not subject to amortization. The Company performs an impairment assessment of goodwill and the Jimmy Choo brand intangible asset on an annual basis, or whenever impairment indicators exist. In the absence of any impairment indicators, goodwill and the Jimmy Choo brand are assessed for impairment during the fourth quarter of each fiscal year. Judgments regarding the existence of impairment indicators are based on market conditions and operational performance of the business.

The Company may assess its goodwill and its indefinite-lived intangible asset for impairment initially using a qualitative approach to determine whether it is more likely than not that the fair value of these assets is greater than their carrying value. When performing a qualitative test, the Company assesses various factors including industry and market conditions, macroeconomic conditions and performance of the Company's businesses. If the results of the qualitative assessment indicate that it is more likely than not that the Company’s goodwill and other indefinite-lived intangible assets are impaired, a quantitative impairment analysis would be performed to determine if impairment is required. The Company may also elect to perform a quantitative analysis of goodwill and its indefinite-lived intangible asset initially rather than using a qualitative approach.

The impairment testing for goodwill is performed at the reporting unit level. The valuation methods used in the quantitative fair value assessment, discounted cash flow and market multiples method, require the Company’s management to make certain assumptions and estimates regarding certain industry trends and future profitability of the Company’s reporting units. If the fair value of a reporting unit exceeds the related carrying value, the reporting unit's goodwill is considered not to be impaired and no further testing is performed. If the carrying value of a reporting unit exceeds its fair value, an impairment loss is recorded for the difference. The valuation of goodwill is affected by, among other things, the Company’s business plan for the future and estimated results of future operations. Future events could cause the Company to conclude that impairment indicators exist, and, therefore, that goodwill may be impaired.

If the Company elects to perform a quantitative impairment assessment of the Company's indefinite-lived intangible asset, the fair value of the Jimmy Choo brand is estimated using a discounted cash flow analysis based on the "relief from royalty" method, assuming that a third party would be willing to pay a royalty in lieu of ownership for this intangible asset. This approach is dependent on many factors, including estimates of future growth, royalty rates, and discount rates. Actual future results may differ from these estimates. Impairment loss is recognized when the estimated fair value of the Jimmy Choo brand intangible assets is less than its carrying amount.

There were no impairment charges related to goodwill and other indefinite-lived intangible assets in any of the fiscal periods presented. See Note 12 for information relating to the Company’s annual impairment analysis performed during the fourth quarter of Fiscal 2018.

Insurance

The Company uses a combination of insurance and self-insurance for losses related to a number of risks, including workers’ compensation and employee-related health care benefits. The Company also maintains stop-loss coverage with third-party insurers to limit its exposure arising from claims. Self-insurance claims filed and claims incurred but not reported are accrued based upon management’s estimates of the discounted cost for self-insured claims incurred using actuarial assumptions, historical loss experience, actual payroll and other data. Although the Company believes that it can reasonably estimate losses related to these claims, actual results could differ from these estimates.

The Company also maintains other types of customary business insurance policies, including business interruption insurance. Insurance recoveries represent gain contingencies and are recorded upon actual settlement with the insurance carrier. During Fiscal 2017, the Company received an insurance settlement of $3.8 million related to the prior-year disruption to our former third party operated e-commerce fulfillment center. This amount was recorded within other income in the Company’s consolidated statement of operations and comprehensive income for Fiscal 2017.

Share-based Compensation

The Company grants share-based awards to certain employees and directors of the Company. The grant date fair value of share options is calculated using the Black-Scholes option pricing model. Beginning in Fiscal 2018, the Company began using its own historical experience in determining the expected holding period and volatility of its time-based share option awards. In prior periods, the Company used the simplified method for determining the expected life of its options and average volatility rates of similar actively traded companies over the estimated holding period, due to insufficient historical option exercise experience as a public company. The risk-free interest rate is derived from the zero-coupon U.S. Treasury Strips yield curve based on the grant’s estimated holding period. Determining the grant date fair value of share-based awards requires considerable judgment, including estimating expected volatility, expected term and risk-free rate. If factors change and the Company employs different assumptions, the fair value of future awards and the resulting share-based compensation expense may differ significantly from what the Company has estimated in the past.

The closing market price of the Company’s shares on the date of grant is used to determine the grant date fair value of restricted shares, restricted shares units (RSUs) and performance RSUs. These fair values are recognized as expense over the requisite service period, net of estimated forfeitures, based on expected attainment of pre-established performance goals for performance grants, or the passage of time for those grants which have only time-based vesting requirements.

Foreign Currency Translation and Transactions

The financial statements of the majority of the Company’s foreign subsidiaries are measured using the local currency as the functional currency. The Company’s functional currency is the United States Dollar (“USD”) for MKHL and its United States based subsidiaries. Assets and liabilities are translated using period-end exchange rates, while revenues and expenses are translated using average exchange rates over the reporting period. The resulting translation adjustments are recorded separately in shareholders’ equity as a component of accumulated other comprehensive income (loss). Foreign currency income and losses resulting from the re-measuring of transactions denominated in a currency other than the functional currency of a particular entity are included in foreign currency (gain) loss on the Company’s consolidated statements of operations and comprehensive income.

Derivative Financial Instruments

The Company uses forward currency exchange contracts to manage its exposure to fluctuations in foreign currency for certain transactions. The Company, in its normal course of business, enters into transactions with foreign suppliers and seeks to minimize risks related to these transactions. The Company employs these forward currency contracts to hedge the Company’s cash flows, as they relate to foreign currency transactions. Certain of these contracts are designated as hedges for accounting purposes, while others remain undesignated. All of the Company’s derivative instruments are recorded in the Company’s consolidated balance sheets at fair value on a gross basis, regardless of their hedge designation.

In connection with the July 25, 2017 recommended cash offer for the entire issued and to be issued share capital of Jimmy Choo, the Company entered into a forward foreign currency exchange contract with a notional amount of £1.115 billion to mitigate its foreign currency exchange risk related to the acquisition. This derivative contract was not designated as an accounting hedge. Therefore, changes in fair value were recorded to foreign currency (gain) loss in the Company’s consolidated statement of operations. The Company’s accounting policy is to classify cash flows from derivative instruments in the same category as the cash flows from the items being hedged. Accordingly, the Company classified the $4.7 million realized gain relating to this derivative instrument within cash flows from investing activities for Fiscal 2018.

The Company designates certain contracts related to the purchase of inventory that qualify for hedge accounting as cash flow hedges. Formal hedge documentation is prepared for all derivative instruments designated as hedges, including description of the hedged item and the hedging instrument, the risk being hedged, and the manner in which hedge effectiveness will be assessed prospectively and retrospectively. The effective portion of changes in the fair value for contracts designated as cash flow hedges is recorded in equity as a component of accumulated other comprehensive income (loss) until the hedged item affects earnings. When the inventory related to forecasted inventory purchases that are being hedged is sold to a third party, the gains or losses deferred in accumulated other comprehensive income (loss) are recognized within cost of goods sold. The Company uses regression analysis to assess effectiveness of derivative instruments that are designated as hedges, which compares the change in the fair value of the derivative instrument to the change in the related hedged item. Effectiveness is assessed on a quarterly basis and any portion of the designated hedge contracts deemed ineffective is recorded to foreign currency gain (loss). If the hedge is no longer expected to be highly effective in the future, future changes in the fair value are recognized in earnings. For those contracts that are not designated as hedges, changes in the fair value are recorded to foreign currency gain (loss) in the Company’s consolidated statements of operations and comprehensive income. The Company classifies cash flows relating to its derivative instruments consistently with the classification of the hedged item, within cash flows from operating activities.

The Company is exposed to the risk that counterparties to derivative contracts will fail to meet their contractual obligations. In order to mitigate counterparty credit risk, the Company only enters into contracts with carefully selected financial institutions based upon their credit ratings and certain other financial factors, adhering to established limits for credit exposure. The aforementioned forward contracts generally have a term of no more than 12 months. The period of these contracts is directly related to the foreign transaction they are intended to hedge.

Income Taxes

Deferred income tax assets and liabilities have been provided for temporary differences between the tax bases and financial reporting bases of the Company’s assets and liabilities using the tax rates and laws in effect for the periods in which the differences are expected to reverse. The Company periodically assesses the realizability of deferred tax assets and the adequacy of deferred tax liabilities, based on the results of local, state, federal or foreign statutory tax audits or estimates and judgments used.

Realization of deferred tax assets associated with net operating loss and tax credit carryforwards is dependent upon generating sufficient taxable income prior to their expiration in the applicable tax jurisdiction. The Company periodically reviews the recoverability of its deferred tax assets and provides valuation allowances, as deemed necessary, to reduce deferred tax assets to amounts that more-likely-than-not will be realized. The Company’s management considers many factors when assessing the likelihood of future realization of deferred tax assets, including recent earnings results within various taxing jurisdictions, expectations of future taxable income, the carryforward periods remaining and other factors. Changes in the required valuation allowance are recorded in income in the period such determination is made. Deferred tax assets could be reduced in the future if the Company’s estimates of taxable income during the carryforward period are significantly reduced or alternative tax strategies are no longer viable.

The Company recognizes the impact of an uncertain income tax position taken on its income tax returns at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant taxing authority. An uncertain income tax position will be recognized if it has less than a 50% likelihood of being sustained. The tax positions are analyzed periodically (at least quarterly) and adjustments are made as events occur that warrant adjustments for those positions. The Company records interest expense and penalties payable to relevant tax authorities as income tax expense.

Rent Expense, Deferred Rent and Landlord Construction Allowances

The Company leases office space, retail stores and distribution facilities under agreements that are classified as operating leases. Many of these operating leases include contingent rent provisions (percentage rent), and/or provide for certain landlord allowances related to tenant improvements and other relevant items. The recognition of rent expense for an operating lease commences on the earlier of the related lease commencement date or the date of possession of the property. Rent expense is calculated by recognizing total minimum rental payments (net of any rental abatements, construction allowances and other rental concessions) on a straight-line basis over the lease term. The difference between straight-line rent expense and rent paid is recorded as deferred rent, which is classified within short-term and long-term liabilities in the Company’s consolidated balance sheets. The Company accounts for landlord allowances and incentives as a component of deferred rent, which is amortized over the lease term as a reduction of rent expense. The Company records rent expense as a component of selling, general and administrative expenses.

Debt Issuance Costs and Unamortized Discounts

The Company defers debt issuance costs directly associated with acquiring third party financing. These debt issuance costs and any discounts on issued debt are amortized on a straight-line basis, which approximates the effective interest method, as interest expense over the term of the related indebtedness. Deferred financing fees associated with the Company’s revolving credit facilities are recorded within prepaid expenses and other current assets. Deferred financing fees and unamortized discounts associated with the Company’s other borrowings are recorded as an offset to long-term debt in the Company’s consolidated balance sheets. See Note 10 for additional information.

Net Income per Share

The Company’s basic net income per ordinary share is calculated by dividing net income by the weighted average number of ordinary shares outstanding during the period. Diluted net income per ordinary share reflects the potential dilution that would occur if share option grants or any other potentially dilutive instruments, including restricted shares and units (“RSUs”), were exercised or converted into ordinary shares. These potentially dilutive securities are included in diluted shares to the extent they are dilutive under the treasury stock method for the applicable periods. Performance-based RSUs are included in diluted shares if the related performance conditions are considered satisfied as of the end of the reporting period and to the extent they are dilutive under the treasury stock method.

The components of the calculation of basic net income per ordinary share and diluted net income per ordinary share are as follows (in millions, except share and per share data):



	Fiscal Years Ended
	March 31, 2018		April 1, 2017		April 2, 2016
Numerator:
Net income attributable to MKHL	$	591.9	$	552.5	$	839.1
Denominator:
Basic weighted average shares	152,283,586		165,986,733		186,293,295
Weighted average dilutive share equivalents:
Share options and restricted shares/units, and performance restricted share units	2,819,299		2,137,080		2,760,994
Diluted weighted average shares	155,102,885		168,123,813		189,054,289
Basic net income per share	$	3.89	$	3.33	$	4.50
Diluted net income per share	$	3.82	$	3.29	$	4.44

Share equivalents for 1,662,889 shares, 2,034,658 shares and 2,255,271 shares, for Fiscal 2018, Fiscal 2017 and Fiscal 2016, respectively, have been excluded from the above calculation due to their anti-dilutive effect.

Recently Adopted Accounting Pronouncements

Business Combinations

In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-01, “Business Combinations (Topic 805) - Clarifying the Definition of a Business,” to clarify the definition of a business in order to allow for the evaluation of whether transactions should be accounted for as acquisitions or disposals of assets or businesses. ASU 2017-01 is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years with early adoption permitted. The Company adopted ASU 2017-01 during the three months ended December 30, 2017, which did not have a material impact on its consolidated financial statements.

Share-Based Compensation

In March 2016, the FASB issued ASU No. 2016-09, “Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting,” which simplifies accounting and presentation of share-based payments, primarily relating to the recognition and classification of excess tax benefits, accounting for forfeitures and tax withholding requirements. The Company adopted ASU 2016-09 during the first quarter of Fiscal 2018, as required. Accordingly, during Fiscal 2018 excess tax benefits of $7.3 million which would have been previously reflected within additional paid-in capital, were recognized within the Company’s provision of income taxes. This change is expected to increase volatility in future provisions for income taxes. In addition, the Company eliminated windfall tax benefits from the treasury stock method calculation used to compute its diluted earnings per share. Both of the above changes have been adopted on a prospective basis, whereas cash flows related to excess tax benefits, previously reflected within financing activities, have been presented within operating activities within the Company’s consolidated statements of cash flows on a retrospective basis. Cash flows related to excess tax benefits were $6.6 million during Fiscal 2017. The Company continues to reflect estimated forfeitures in its share-based compensation expense.

Goodwill

In January 2017, the FASB issued ASU 2017-04, “Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment,” which simplifies the test for goodwill impairment by eliminating Step 2 of goodwill impairment analysis, while retaining the option to perform an initial qualitative assessment for a reporting unit to determine if a quantitative impairment test is required. ASU 2017-04 is effective in the Company’s Fiscal 2021 with early adoption permitted and should be applied on a prospective basis. The Company early adopted the goodwill impairment testing provisions of ASU 2017-04 during the fourth quarter of Fiscal 2018, with no impact on its consolidated financial statements.

Recently Issued Accounting Pronouncements

The Company has considered all new accounting pronouncements and, other than the recent pronouncements discussed below, have concluded that there are no new pronouncements that may have a material impact on our results of operations, financial condition or cash flows based on current information.

Hedge Accounting

On August 28, 2017, the FASB issued ASU No. 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities.” The new standard is intended to improve and simplify rules relating to hedge accounting, including the elimination of periodic hedge ineffectiveness, recognition and presentation of components excluded from hedge effectiveness assessment, the ability to elect to perform subsequent effectiveness assessments qualitatively, and other provisions designed to provide more transparency around the economics of a company’s hedging strategy. ASU 2017-12 is effective for the Company in Fiscal 2020, with early adoption permitted. The Company plans to early adopt ASU 2017-12 in the first quarter of Fiscal 2019. The adoption of ASU 2017-12 is not expected to have a material impact on the Company’s consolidated financial statements with respect to its existing forward foreign currency exchange contracts. However upon adoption, the Company will apply the spot method of designating these contracts under ASU 2017-12 to the net investment hedges that were executed during the first quarter of Fiscal 2019. See Note 22 for additional information.

Revenue Recognition

In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” which provides new guidance for revenues recognized from contracts with customers, and will replace the existing revenue recognition guidance. ASU 2014-09 requires that revenue is recognized at an amount the company is entitled to upon transferring control of goods or services to customers, as opposed to when risks and rewards transfer to a customer.

In July 2015, the FASB issued ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” which deferred the effective date of ASU 2014-09 by one year, making it effective for the interim reporting periods within the annual reporting period beginning after December 15, 2017, or beginning with the Company’s Fiscal 2019. This standard may be applied retrospectively to all prior periods presented, or retrospectively with a cumulative adjustment to retained earnings in the year of adoption.

The FASB has issued several additional ASUs to provide implementation guidance on ASU No. 2014-09, including ASU No. 2016-20, “Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers” issued in December 2016, ASU No. 2016-12, “Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients” issued in May 2016, ASU No. 2016-10, “Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing” issued in April 2016, and ASU No. 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)” issued in March 2016. The Company will consider this guidance in evaluating the impact of ASU 2014-09 (collectively, “ASC 606”).

Most of our business is comprised of retail and wholesale operations, where revenue is recognized at a point of time. The Company has completed the initial assessment of the new standard and is currently progressing in its implementation. While the evaluation process is not complete, based on our assessment to date, the Company believes that some of the potential impacts of implementing this standard will include the timing of revenue recognition for its licensing royalties, recognition of breakage revenue for unredeemed gift cards, as well as expanded financial statement disclosures, including revenue recognition policies to identify performance obligations to customers and significant judgments in measurement and recognition.

The Company will adopt the standard beginning with the first quarter of Fiscal 2019, as required, using the modified retrospective method. The Company has completed its evaluation of the cumulative adjustment and has concluded that it will have an immaterial impact on its retained earnings. This adjustment will be primarily associated with unrecognized gift card breakage revenue and product licensing revenue previously recorded on a one-month lag.

Lease Accounting

In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” which requires lessees to recognize a lease liability and a right-to-use asset on the balance sheet for all leases, except certain short-term leases. ASU 2016-02 is effective beginning with the Company’s Fiscal 2020, with early adoption permitted, and must be implemented using a modified retrospective approach for all leases existing at, or entered into after the beginning of the earliest comparative period that is presented in the financial statements. The Company is currently evaluating the impact of ASU 2016-02 on its consolidated financial statements but expects that the adoption of this standard will result in a significant increase in assets and liabilities on its consolidated balance sheets.

Share-Based Compensation

In May 2017, the FASB issued ASU No. 2017-09, “Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting”, which simplifies modification accounting for entities that change the terms or conditions of share-based awards. ASU 2017-09 is effective for the Company’s Fiscal 2019 with early adoption permitted and is required to be applied on a prospective basis. The Company will evaluate the impact of ASU 2017-09 on any future changes to the terms and conditions of its share-based compensation awards.

Income Taxes

In October 2016, the FASB issued ASU 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory”, which requires recognition of income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. ASU 2016-16 is effective and the Company will adopt the standard beginning with the first quarter of Fiscal 2019, as required, using the modified retrospective method. The Company has completed its evaluation of the cumulative adjustment and has concluded that it will have an immaterial impact on its retained earnings.

Acquisitions

12 Months Ended

Mar. 31, 2018

Business Combinations [Abstract]

Acquisitions

Fiscal 2018 Acquisition

Acquisition of Jimmy Choo Group Limited

On November 1, 2017, the Company completed the acquisition of Jimmy Choo, whereby the Company's wholly-owned subsidiary acquired all of Jimmy Choo’s issued and to be issued shares at a purchase price of 230 pence per share in cash, for a total transaction value of $1.447 billion, including the repayment of existing debt obligations, which was funded through a combination of borrowings under the Company’s new $1.0 billion term loan facility, the issuance of the Senior Notes and cash on hand (please refer to Note 10 for additional information).

The following table summarizes the aggregate purchase price consideration paid to acquire Jimmy Choo in cash (in millions):



	November 1, 2017
Consideration paid to Jimmy Choo shareholders	$	1,181.2
Repayment of debt and related obligations	266.2
Total purchase price	$	1,447.4

The Company believes that this combination will further strengthen its future growth opportunities while also increasing both product and geographic diversification and will allow it to grow its international presence through the formation of a global fashion luxury group, bringing together industry-leading luxury fashion brands. The Company accounted for this acquisition as a business combination under the acquisition method of accounting. The following table summarizes the preliminary purchase price allocation of fair values of the assets acquired and liabilities assumed at the date of acquisition (in millions):



	November 1, 2017
Cash and cash equivalents	$	34.3
Accounts receivable	30.7
Inventory ⁽¹⁾	126.2
Other current assets	63.9
Current assets	255.1
Property and equipment ⁽²⁾	51.0
Goodwill ⁽³⁾	684.9
Brand ⁽⁴⁾	577.8
Customer relationships ⁽⁵⁾	212.8
Lease rights	5.9
Deferred tax assets	22.5
Other assets	28.1
Total assets acquired	$	1,838.1

Accounts payable	$	129.3
Other current liabilities	96.5
Current liabilities	225.8
Deferred tax liabilities	134.9
Other liabilities	26.9
Total liabilities assumed	$	387.6

Less: Noncontrolling interest in joint ventures	$	3.1

Fair value of net assets acquired	$	1,447.4

Fair value of acquisition consideration	$	1,447.4


⁽¹⁾	Includes an inventory step-up adjustment of $9.5 million, which will be recognized as an adjustment to the Company’s cost of goods sold in its statement of operations over twelve months.


⁽²⁾	Includes a $7.0 million adjustment to reduce the fair value of Jimmy Choo’s leasehold improvements, which will be recognized over the remaining lease term.


⁽³⁾	Represents the difference between the purchase price over the net identifiable tangible and intangible assets acquired allocated to goodwill, which is not deductible for tax purposes.


⁽⁴⁾	Represents the fair value of Jimmy Choo’s brand, which is an indefinite-lived intangible asset due to being essential to the Company’s ability to operate the Jimmy Choo business for the foreseeable future. The Jimmy Choo brand was valued using the relief-from-royalty method of the income valuation approach.

⁽⁵⁾

Represents customer relationships associated with Jimmy Choo wholesale customers and geographic licensees, which are being amortized over 15 years and customer relationships with product licensees, which are being amortized over 18 years. These useful lives were estimated based on the time to recover the related future discounted cash flows. These intangible assets were valued using multi-period excess-earnings valuation method.

Jimmy Choo’s results of operations have been included in our consolidated financial statements beginning on November 1, 2017. Jimmy Choo contributed revenue of $222.6 million and net loss of $14.5 million (after amortization of non-cash purchase accounting adjustments and transition and transaction costs) for the period from the date of acquisition through March 31, 2018.

The following table summarizes the unaudited pro-forma consolidated results of operations for the fiscal years ended March 31, 2018 and April 1, 2017 as if the acquisition had occurred on April 3, 2016, the beginning of Fiscal 2017 (in millions):



	Fiscal Years Ended
	March 31, 2018		April 1, 2017
Pro-forma total revenue	$	5,012.0	$	4,984.6
Pro-forma net income	623.2		553.9
Pro-forma net income per ordinary share attributable to MKHL:
Basic	$	4.09	$	3.34
Diluted	$	4.02	$	3.29

The unaudited pro-forma consolidated results above are based on the historical financial statements of the Company and Jimmy Choo and are not necessarily indicative of the results of operations that would have been achieved if the acquisition was completed at the beginning of Fiscal 2017 and are not indicative of the future operating results of the combined company. The financial information for Jimmy Choo prior to the acquisition has been included in the pro-forma results of operations on a calendar-year basis and includes certain adjustments to Jimmy Choo’s historical consolidated financial statements to align with U.S. GAAP and the Company’s accounting policies. The pro-forma consolidated results of operations also include the effects of purchase accounting adjustments, including amortization charges related to the definite-lived intangible assets acquired, fair value adjustments relating to leases and fixed assets, and the related tax effects assuming that the business combination occurred on April 3, 2016. Purchase accounting amortization of the inventory step-up adjustment has been excluded from the above pro-forma amounts due to the short-term nature of this adjustment. The pro-forma consolidated financial statement also reflect the impact of debt repayment and borrowings made to finance the acquisition (see Note 10) and exclude historical interest expense for Jimmy Choo. Transaction costs of $40.6 million for Fiscal 2018, which have been recorded within restructuring and other charges in the Company’s consolidated statements of operations and comprehensive income, have been excluded from the above pro-forma consolidated results of operations due to their non-recurring nature.

Other Acquisitions

During the first quarter of Fiscal 2018, the Company repurchased a portion of the non-controlling interest in its Latin American joint venture, MK Panama for approximately $0.5 million. As of March 31, 2018, the Company has a 75% ownership interest in MK Panama.

Fiscal 2017 Acquisition

Acquisition of Michael Kors (HK) Limited

On May 31, 2016, the Company acquired 100% of the stock of MKHKL, its licensees in the Greater China region, which includes China, Hong Kong, Macau and Taiwan. The Company believes that having direct control of this business will allow it to better manage opportunities and capitalize on the growth potential in the region. This acquisition was funded by a cash payment of $500.0 million, which may be subject to certain purchase price adjustments. The Company accounted for the acquisition as a business combination.

MKHKL’s results of operations have been included in our consolidated financial statements beginning on June 1, 2016. MKHKL contributed total revenue of $306.2 million and net income of $13.5 million for Fiscal 2018 (after amortization of non-cash valuation adjustments). MKHKL contributed total revenue of $212.4 million and net loss of $10.6 million for the period from the date of acquisition through April 1, 2017 (after amortization of non-cash valuation adjustments and integration costs).

The following table summarizes the unaudited pro-forma consolidated results of operations for the fiscal year ended April 1, 2017 as if the acquisition had occurred on March 29, 2015, the beginning of Fiscal 2016 (in millions):



	Fiscal Years Ended
	April 1, 2017		April 2, 2016
Pro-forma total revenue	$	4,520.1	$	4,839.1
Pro-forma net income	548.7		832.2
Pro-forma net income per ordinary share attributable to MKHL:
Basic	$	3.31	$	4.47
Diluted	$	3.26	$	4.40

The unaudited pro-forma consolidated results above are based on the historical financial statements of the Company and MKHKL and are not necessarily indicative of the results of operations that would have been achieved if the acquisition was completed at the beginning of Fiscal 2016 and are not indicative of the future operating results of the combined company. The pro-forma consolidated results of operations reflect the elimination of intercompany transactions and include the effects of purchase accounting adjustments, including amortization charges related to the definite-lived intangible assets acquired (reacquired rights and customer relationships), fair value adjustments relating to leases, fixed assets and inventory, and the related tax effects assuming that the business combination occurred on March 29, 2015. The pro-forma consolidated results of operations for Fiscal 2017 also reflect the elimination of transaction costs of approximately $11.3 million, which have been recorded within restructuring and other charges in the Company’s consolidated statements of operations and comprehensive income for Fiscal 2017.

Fiscal 2016 Acquisitions

Acquisition of the Previously Licensed Business in South Korea

On January 1, 2016, the Company acquired direct control of its previously licensed business in South Korea upon the related license expiration. In connection with the acquisition, the Company acquired certain net assets (including inventory and fixed assets) from the Company’s former licensee in exchange for cash consideration of approximately $3.6 million. The Company accounted for this acquisition as a business combination and began consolidating the South Korean business into its operations beginning with the fourth quarter of Fiscal 2016.

This acquisition resulted in a gain of $3.7 million, representing the excess of the fair value of the assets acquired over the consideration paid, which was recorded in other income in the Company’s consolidated statement of operations and comprehensive income for Fiscal 2016. The purchase price was negotiated upon the natural expiration of the licensing agreement, which allowed the Company to negotiate favorable terms for the assets that could no longer be used by the licensee. Prior to recognizing a bargain purchase gain, the Company reassessed whether all assets acquired and liabilities assumed have been correctly identified, as well as the key valuation assumptions and business combination accounting procedures for this acquisition. After careful consideration and review, it was concluded that the recognition of a bargain purchase gain is appropriate for this acquisition.

Acquisition of Controlling Interest in a Joint Venture

During the second quarter of Fiscal 2016, the Company made contributions to MK Panama totaling $18.5 million, consisting of cash consideration of $3.0 million and the elimination of liabilities owed to the Company of $15.5 million, which increased the Company’s ownership interest to 75%. As a result of obtaining controlling interest in MK Panama, which was previously accounted for under the equity method of accounting, the Company began consolidating MK Panama into its operations during the second quarter of Fiscal 2016. The additional ownership interest provides the Company with more direct control over its operations in Latin America and will allow it to better manage its opportunities in the region.

Receivables, net

12 Months Ended

Mar. 31, 2018

Receivables [Abstract]

Receivables, net

Receivables, net consist of (in millions):



	March 31, 2018			April 1, 2017
Trade receivables:
Credit risk assumed by insured	$	296.2		$	294.0
Credit risk retained by Company	87.1			63.8
Receivables due from licensees	15.8			11.9
	399.1			369.7
Less: allowances	(108.6		)	(103.9		)
	$	290.5		$	265.8

Receivables are presented net of allowances for sales returns, discounts, markdowns, operational chargebacks and doubtful accounts. Sales returns are determined based on an evaluation of current market conditions and historical returns experience. Discounts are based on open invoices where trade discounts have been extended to customers. Allowances are based on wholesale customers’ sales performance, seasonal negotiations with customers, historical deduction trends and an evaluation of current market conditions. Operational chargebacks are based on deductions taken by customers, net of expected recoveries. Such provisions, and related recoveries, are reflected in revenues.

The Company’s allowance for doubtful accounts is determined through analysis of periodic aging of receivables that are not covered by insurance and assessments of collectability based on an evaluation of historic and anticipated trends, the financial condition of the Company’s customers and the impact of general economic conditions. The past due status of a receivable is based on its contractual terms. Amounts deemed uncollectible are written off against the allowance when it is probable the amounts will not be recovered. Allowance for doubtful accounts was $5.1 million and $0.9 million as of March 31, 2018 and April 1, 2017, respectively. The March 31, 2018 amount included an allowance due to a bankruptcy of one of our wholesale customers.

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

Property, Plant and Equipment [Abstract]

Concentration of Credit Risk, Major Customers and Suppliers	12 Months Ended
	Mar. 31, 2018
Risks and Uncertainties [Abstract]
Concentration of Credit Risk, Major Customers and Suppliers	Concentration of Credit Risk, Major Customers and Suppliers Financial instruments that subject the Company to concentration of credit risk are cash and cash equivalents and receivables. As part of its ongoing procedures, the Company monitors its concentration of deposits with various financial institutions in order to avoid any undue exposure. The Company mitigates its risk by depositing cash and cash equivalents in major financial institutions. The Company also mitigates its credit risk by obtaining insurance coverage for a substantial portion of its receivables (as demonstrated in the above table in “Credit risk assumed by insured”). For Fiscal 2018, Fiscal 2017 and Fiscal 2016, revenue related to our largest Michael Kors wholesale customer, Macy’s, accounted for approximately 7.8%, 8.9% and 12.7%, respectively, of total revenue. The accounts receivable related to this customer were substantially insured for all three fiscal years. No other customer accounted for 10% or more of the Company’s total revenues during Fiscal 2018, Fiscal 2017 or Fiscal 2016. The Company contracts for the purchase of finished goods principally with independent third-party contractors, whereby the contractor is generally responsible for all manufacturing processes, including the purchase of piece goods and trim. Although the Company does not have any long-term agreements with any of its manufacturing contractors, the Company believes it has mutually satisfactory relationships with them. The Company allocates product manufacturing among agents and contractors based on their capabilities, the availability of production capacity, quality, pricing and delivery. The inability of certain contractors to provide needed services on a timely basis could adversely affect the Company’s operations and financial condition. The Company also has relationships with various agents who source Michael Kors finished goods with numerous contractors on its behalf. For Fiscal 2018, Fiscal 2017 and Fiscal 2016, one agent sourced approximately 23.9%, 21.8% and 23.2%, respectively, and one contractor accounted for approximately 19.9%, 23.2% and 21.2%, respectively, of Michael Kors finished goods purchases, based on unit volume. For the period covering November 1, 2017 through March 31, 2018 one contractor accounted for approximately 16.0% of Jimmy Choo’s finished goods purchases, based on unit volume.

Property and Equipment, Net

12 Months Ended

Mar. 31, 2018

Property and Equipment, Net

Property and equipment, net, consists of (in millions):



	March 31, 2018			April 1, 2017
Leasehold improvements	$	551.0		$	507.9
In-store shops	273.9			256.0
Furniture and fixtures	270.9			244.1
Computer equipment and software	266.3			226.2
Equipment	116.7			104.4
Building	51.6			40.6
Land	16.2			14.0
	1,546.6			1,393.2
Less: accumulated depreciation and amortization	(1,001.6		)	(833.9		)
	545.0			559.3
Construction-in-progress	38.2			32.2
	$	583.2		$	591.5

Depreciation and amortization of property and equipment for the fiscal years ended March 31, 2018, April 1, 2017, and April 2, 2016, was $182.3 million, $197.7 million and $172.2 million, respectively. During Fiscal 2018, the Company recorded fixed asset impairment charges of $27.5 million, $26.1 million of which related to underperforming Michael Kors full-price retail store locations, some of which will be closed as part of the Company’s previously announced Retail Fleet Optimization Plan (as defined in Note 9) and $1.4 million related to wholesale locations expected to be closed. During Fiscal 2017 and Fiscal 2016, the Company recorded fixed asset impairment charges of $169.0 million and $10.9 million, respectively, primarily related to underperforming retail locations.

Intangible Assets and Goodwill

12 Months Ended

Mar. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

The following table details the carrying values of the Company’s intangible assets other than goodwill (in millions):



	March 31, 2018						April 1, 2017
	Gross Carrying Amount		Accumulated Amortization ⁽¹⁾		Net		Gross Carrying Amount		Accumulated Amortization ⁽¹⁾		Net
Definite-lived intangible assets:
Reacquired rights	$	400.4	$	29.4	$	371.0	$	400.4	$	13.4	$	387.0
Trademarks	23.0		17.4		5.6		23.0		16.3		6.7
Lease rights	80.1		58.3		21.8		74.2		53.8		20.4
Customer relationships	231.3		8.1		223.2		5.0		1.0		4.0
	734.8		113.2		621.6		502.6		84.5		418.1

Indefinite-lived intangible assets:
Jimmy Choo brand	614.1		—		614.1		—		—		—

Total intangible assets, excluding goodwill	$	1,348.9	$	113.2	$	1,235.7	$	502.6	$	84.5	$	418.1

________________________________


⁽¹⁾	Includes $5.2 million and $30.2 million, respectively, of impairment charges recorded during Fiscal 2018 and Fiscal 2017 in connection with underperforming full-price retail stores. There were no impairment charges related to the Company’s amortized intangibles assets during Fiscal 2016. See Note 12 for additional information.

Reacquired rights relate to the Company’s reacquisition of the rights to use its trademarks and to import, sell, advertise and promote certain of its products in the previously licensed territories in the Greater China region and are being amortized through March 31, 2041, the expiration date of the related license agreement. The trademarks relate to the Michael Kors brand name and are amortized over twenty years. Customer relationships are amortized over five to eighteen years. Lease rights are amortized over the respective terms of the underlying lease, including highly probable renewal periods. Amortization expense for the Company’s definite-lived intangibles was $26.3 million, $22.1 million and $11.0 million, respectively, for each of the fiscal years ended March 31, 2018, April 1, 2017 and April 2, 2016.

Indefinite-lived intangible assets other than goodwill included the Jimmy Choo brand , which was was recorded in connection with the acquisition of Jimmy Choo and has an indefinite life due to being essential to the Company’s ability to operate the Jimmy Choo business for the foreseeable future.

Estimated amortization expense for each of the next five years is as follows (in millions):



Fiscal 2019	$	34.4
Fiscal 2020	34.1
Fiscal 2021	34.0
Fiscal 2022	33.4
Fiscal 2023	32.5
Thereafter	453.2
	$	621.6

The future amortization expense above reflects weighted-average estimated remaining useful lives of 23.0 years for reacquired rights, 4.8 years for trademarks, 16.9 years for customer relationships and 7.0 years for lease rights.

The following table details the changes in goodwill for each of the Company’s reportable segments (in millions):



	MK Retail		MK Wholesale		MK Licensing		Jimmy Choo		Total
Balance at April 1, 2017	$	91.9	$	25.9	$	1.9	$	—	$	119.7
Acquisition of Jimmy Choo	—		—		—		684.9		684.9
Foreign currency translation	—		—		—		43.1		43.1
Balance at March 31, 2018	$	91.9	$	25.9	$	1.9	$	728.0	$	847.7

The Company’s goodwill and the Jimmy Choo brand is not subject to amortization but is evaluated for impairment annually in the last quarter of each fiscal year, or whenever impairment indicators exist.

During the fourth quarter of Fiscal 2018, the Company elected to perform its annual goodwill impairment analysis for its Michael Kors brand using a quantitative approach, using the discounted cash flow method to estimate fair value. Based on the results of these assessments, the Company concluded that the fair values of the Michael Kors reporting units significantly exceeded the related carrying amounts and there were no reporting units at risk of impairment. The goodwill impairment analysis relating to the Jimmy Choo brand was performed using a qualitative assessment, due to the proximity to the acquisition date, to determine whether it is more likely than not that the fair value of its reporting units was less than their carrying amounts. As part of the its assessment, the Company considered qualitative factors, including the projected financial performance of Jimmy Choo, as well as various industry, market and macroeconomic factors. Based on this assessment, the Company qualitatively concluded that it is more likely than not that the fair value of the Jimmy Choo reporting units exceeded its carrying value and, therefore, did not result in an impairment. There were no impairment charges related to goodwill in any of the fiscal periods presented.

The Company also performed a qualitative impairment assessment to determine whether it is more likely than not that the fair value of its Jimmy Choo brand indefinite-lived intangible asset was less than the carrying amount. As part of this assessment, the Company considered qualitative factors, including the projected financial performance of Jimmy Choo, as well as various industry, market and macroeconomic factors. Based on this assessment, the Company qualitatively concluded that it was more likely than not that the fair value of the Jimmy Choo brand exceeded its carrying value and, therefore, did not result in an impairment.

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Current Assets and Current Liabilities

12 Months Ended

Mar. 31, 2018

Current Assets and Current Liabilities

Prepaid expenses and other current assets consist of the following (in millions):



	March 31, 2018		April 1, 2017
Prepaid taxes	$	78.5	$	56.6
Prepaid rent	22.7		21.7
Leasehold incentive receivable	9.4		12.0
Other	37.2		31.6
	$	147.8	$	121.9

Accrued expenses and other current liabilities consist of the following (in millions):



	March 31, 2018		April 1, 2017
Other taxes payable	$	54.3	$	29.2
Restructuring liability	44.8		—
Accrued rent	34.5		21.5
Accrued capital expenditures	26.4		20.5
Accrued advertising and marketing	22.6		10.7
Gift cards and retail store credits	16.0		12.9
Professional services	14.1		7.1
Accrued interest	8.7		0.3
Unrealized loss on forward foreign exchange contracts	7.7		0.4
Deferred income	4.3		0.1
Advance royalties	4.1		5.0
Other	58.1		27.3
	$	295.6	$	135.0

Restructuring and Other Charges

12 Months Ended

Mar. 31, 2018

Restructuring and Related Activities [Abstract]

Restructuring and Other Charges

On May 31, 2017, the Company announced that it plans to close between 100 and 125 of its Michael Kors full-price retail stores over the next two years, in order to improve the profitability of its retail store fleet (“Retail Fleet Optimization Plan”). Over this time period, the Company expects to incur approximately $100 - $125 million of one-time costs associated with these store closures. Collectively, the Company anticipates ongoing annual savings of approximately $60 million as a result of store closures and lower depreciation and amortization expense as a result of the impairment charges recorded during Fiscal 2017 and Fiscal 2018.

During Fiscal 2018, the Company closed 47 of its Michael Kors full-price retail stores under the Retail Fleet Optimization Plan and recorded restructuring costs of $52.6 million. The Company anticipates finalizing the remainder of the planned store closures under the Retail Fleet Optimization Plan over the next two fiscal years. The below table presents a summary of cash charges recorded in connection with this plan for the MK Retail segment and the Company’s remaining restructuring liability (in millions):



	Severance and benefit costs			Lease-related costs				Total
Balance as of April 1, 2017	$	—		$	—			$	—
Additions charged to expense	0.7			51.9			⁽¹⁾	52.6
Balance sheet reclassifications ⁽²⁾	—			12.2				12.2
Payments	(0.5		)	(19.5		)		(20.0		)
Balance as of March 31, 2018	$	0.2		$	44.6			$	44.8


⁽¹⁾	Includes losses on store lease exits of $29.0 million.


⁽²⁾	Primarily consists of reclassification of deferred rent balances for locations subject to closure to a restructuring liability.

Other Charges

During Fiscal 2018, the Company recorded transaction costs of $40.6 million in connection with the Jimmy Choo acquisition within restructuring and other charges in its consolidated statements of operations. In addition, restructuring and other charges included transition costs of $8.9 million for Fiscal 2018, which were incurred in connection with the Jimmy Choo acquisition. During Fiscal 2017, the Company recorded transaction costs of $11.3 million related to the acquisition of the Greater China business. See Note 3 for additional information relating to these acquisitions.

Debt Obligations

12 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Debt Obligations

The following table presents the Company’s debt obligations (in millions):



	March 31, 2018		April 1, 2017
Term Loan	$	229.8	$	—
4.000% Senior Notes due 2024	450.0		—
Revolving Credit Facilities	200.0		133.1
Other	0.9		—
Total debt	880.7		133.1
Less: Unamortized debt issuance costs	4.2		—
Less: Unamortized discount on long-term debt	2.1		—
Total carrying value of debt	874.4		133.1
Less: Short-term debt	200.0		133.1
Total long-term debt	$	674.4	$	—

Bridge Credit Agreement

On July 25, 2017, the Company and certain of its subsidiaries, as loan parties, entered into a bridge credit agreement providing for a term loan facility in the principal amount of £1.115 billion with the lenders from time to time party thereto and JPMorgan Europe Limited, as administrative agent. In connection with Term Loan Facility provided for under the 2017 Credit Facility, as described and defined below, the commitments under the bridge credit agreement were reduced to approximately £344.2 million as of September 30, 2017 and eliminated in their entirety as a result of the October 20, 2017 issuance of $450.0 million 4.000% senior notes due 2024. As a result, the bridge credit agreement was terminated.

Senior Unsecured Revolving Credit Facility

On August 22, 2017, the Company entered into a second amended and restated senior unsecured credit facility (as amended, the “2017 Credit Facility”) with, among others, JPMorgan Chase Bank, N.A., as administrative agent, which replaced its prior 2015 senior unsecured revolving credit facility (“2015 Credit Facility”). The Company and its U.S., Canadian, Dutch and Swiss subsidiaries are the borrowers under the 2017 Credit Facility. The borrowers and certain material subsidiaries of the Company provide unsecured guarantees of the 2017 Credit Facility. The 2017 Credit Facility provides for a $1.0 billion revolving credit facility (the “Revolving Credit Facility”), which may be denominated in U.S. Dollars and other currencies, including Euros, Canadian Dollars, Pounds Sterling, Japanese Yen and Swiss Francs. The Revolving Credit Facility also provides sub-facilities for the issuance of letters of credit of up to $75.0 million and swing line loans of up to $50.0 million. The 2017 Credit Facility also provides for a $1.0 billion term loan facility (the “Term Loan Facility”) to finance a portion of the purchase price of the Company’s acquisition of Jimmy Choo. The Revolving Credit Facility expires on August 22, 2022. The Term Loan Facility is divided into two tranches, a $600.0 million tranche that matures on the third anniversary of the initial borrowing of the term loans and a $400.0 million tranche that matures on the fifth anniversary of the initial borrowing of the term loans. The Company has the right to prepay its borrowings under the Term Loan Facility at any time in whole or in part. The Company has the ability to expand its borrowing availability under the 2017 Credit Facility in the form of revolving commitments or term loans by up to an additional $500.0 million, subject to the agreement of the participating lenders and certain other customary conditions.

On November 1, 2017, the Company’s $1.0 billion Term Loan Facility was fully drawn to pay a portion of the acquisition consideration for Jimmy Choo and other related fees and expenses. The loans under the Term Loan Facility are required to be repaid on the last business day of March, June, September and December of each year, commencing after the last business day of the first full fiscal quarter after the initial borrowing, in installments equal to 2.50% of the aggregate original principal amount of the term loans. During Fiscal 2018, the Company made accelerated payments on the Term Loans on a pro-rata basis. As of March 31, 2018, the carrying value of borrowings outstanding under the Term Loan Facility was $229.0 million, net of debt issuance costs.

During the first quarter of Fiscal 2019, the Company repaid an additional $90.0 million principal amount of borrowings outstanding under the Term Loan Facility on a pro-rata basis.

Borrowings under the Revolving Credit Facility bear interest, at the Company’s option, at the following rates:


•	for any loans (except loans denominated in Canadian Dollars), the greater of Adjusted LIBOR for the applicable interest period and zero, plus an applicable margin based on the Company’s public debt rating;

•

for loans denominated in U.S. Dollars, an alternate base rate, which is the greatest of: (a) the prime rate publicly announced from time to time by JPMorgan Chase, (b) the greater of the federal funds effective rate and the Federal Reserve Bank of New York overnight bank funding rate and zero, plus 50 basis points, and (c) the greater of the one-month London Interbank Offered Rate adjusted for statutory reserve requirements for Eurocurrency liabilities (“Adjusted LIBOR”) and zero, plus 100 basis points, in each case, plus an applicable margin based on the Company’s public debt ratings;


•	for loans denominated in Canadian Dollars, the Canadian prime rate, which is the greater of the PRIMCAN Index rate and the rate applicable to one-month Canadian Dollar banker’s acceptances quoted on Reuters (“CDOR”), plus 100 basis points, plus an applicable margin based on the Company’s public debt ratings; or


•	for loans denominated in Canadian Dollars, the average CDOR rate for the applicable interest period, plus 10 basis points per annum, plus an applicable margin based on the Company’s public debt ratings.

Borrowings under the Term Loan Facility bear interest, at the Company’s option, at (a) the alternate base rate plus an applicable margin based on the Company’s public debt ratings; or (b) the greater of Adjusted LIBOR for the applicable interest period and zero, plus an applicable margin based on the Company’s public debt ratings.

The 2017 Credit Facility requires the Company to maintain a leverage ratio as of the end of each fiscal quarter of no greater than 3.5 to 1. Such leverage ratio is calculated as the ratio of the sum of total indebtedness as of the date of the measurement plus six times the consolidated rent expense for the last four consecutive fiscal quarters, to Consolidated EBITDAR (as defined below) for the last four consecutive fiscal quarters. Consolidated EBITDAR is defined as consolidated net income plus income tax expense, net interest expense, depreciation and amortization expense, consolidated rent expense and other non-cash charges, subject to certain additions and deductions. The 2017 Credit Facility also includes covenants that limit additional indebtedness, guarantees, liens, acquisitions and other investments and cash dividends that are customary for financings of this type. As of March 31, 2018, the Company was in compliance with all covenants related to this agreement.

The 2017 Credit Facility contains events of default customary for financings of this type, including, but not limited to, payment of defaults, material inaccuracy of representations and warranties, covenant defaults, cross-defaults to certain indebtedness, certain events of bankruptcy or insolvency, certain events under The Employee Retirement Income Security Act, material judgments, actual or asserted failure of any guaranty supporting the 2017 Credit Facility to be in full force and effect, and changes of control. If such an event of default occurs, the lenders under the 2017 Credit Facility would be entitled to take various actions, including, but not limited to, terminating the commitments and accelerating amounts outstanding under the 2017 Credit Facility, subject to “certain funds” limitations in connection with the transaction governing the Term Loan Facility.

As of March 31, 2018, the Company had borrowings of $200.0 million outstanding under the 2017 Revolving Credit Facility. Stand-by letters of credit of $15.9 million were outstanding as of March 31, 2018. There were borrowings of $127.3 million outstanding under the prior 2015 Revolving Credit Facility as of April 1, 2017, which were recorded within short-term debt in the Company’s balance sheet as of April 1, 2017. At March 31, 2018, the amount available for future borrowings under the 2017 Revolving Credit Facility was $784.1 million.

Senior Notes

On October 20, 2017, Michael Kors (USA), Inc. (the “Issuer”), the Company’s wholly owned subsidiary, completed its offering of $450.0 million aggregate principal amount of 4.000% senior notes due 2024 (the “Senior Notes”) at an issue price of 99.508% of aggregate principal amount, pursuant to an exemption from registration under the Securities Act of 1933, as amended. The Senior Notes were issued under an indenture dated October 20, 2017, among the Issuer, the Company, the subsidiary guarantors party thereto and U.S. Bank National Association, as trustee (the “Indenture”). The Senior Notes were issued to finance a portion of the Company’s acquisition of Jimmy Choo and certain related refinancing transactions.

The Senior Notes bear interest at a rate of 4.000% per year, subject to adjustments from time to time if either Moody’s or S&P (or a substitute rating agency therefore) downgrades (or downgrades and subsequently upgrades) the credit rating assigned to the Senior Notes. Interest on the Senior Notes is payable semi-annually on May 1 and November 1 of each year, beginning on May 1, 2018.

The Senior Notes are unsecured and are guaranteed by the Company and its existing and future subsidiaries that guarantee or are borrowers under the 2017 Credit Facility (subject to certain exceptions, including subsidiaries organized in China), including, following the closing of the acquisition, Jimmy Choo and all of its existing and future subsidiaries who are guarantors or borrowers under the 2017 Credit Facility (subject to certain exceptions, including subsidiaries organized in China).

The Senior Notes may be redeemed at the Company’s option at any time in whole or in part at a price equal to 100% of the principal amount, plus accrued and unpaid interest, plus a “make-whole” amount calculated at the applicable Treasury Rate plus 30 basis points.

The Senior Notes rank equally in right of payment with all of the Issuer’s and guarantors’ existing and future senior unsecured indebtedness, senior in right of payment to any future subordinated indebtedness, effectively subordinated in right of payment to any of the Company’s subsidiaries’ obligations (including secured and unsecured obligations) and any of the Company’s secured obligations, to the extent of the assets securing such obligations.

The Indenture contains covenants, including those that limit the Company’s ability to create certain liens and enter into certain sale and leaseback transactions. In the event of a “Change of Control Triggering Event,” as defined in the Indenture, the Issuer will be required to make an offer to repurchase the Senior Notes at a repurchase price in cash equal to 101% of the aggregate principal amount of the Senior Notes being repurchased plus any unpaid interest. These covenants are subject to important limitations and exceptions, as per the Indenture.

As of March 31, 2018, the carrying value of the Senior Notes was $444.5 million, net of issuance costs and unamortized discount. See Note 22 for cross-currency swaps executed during the first quarter of Fiscal 2019.

Japan Credit Facility

In November 2017, the Company’s subsidiary in Japan entered into a short term credit facility (“Japan Credit Facility”) with Mitsubishi UFJ Financial Group (“MUFJ”) (the “Bank”) which may be used to fund general working capitals needs of Michael Kors Japan K.K. through November 29, 2018, subject to the Bank’s discretion. The Japan Credit Facility provides Michael Kors Japan K.K. with a revolving credit line of up to ¥1.0 billion (approximately $9.4 million). The Japan Credit Facility bears interest at a rate posted by the Bank plus 0.300% two business days prior to the date of borrowing or the date of interest renewal. As of March 31, 2018, the Company had no borrowings outstanding under the Japan Credit Facility.

Hong Kong Credit Facility

In November 2017, the Company’s Hong Kong subsidiary, MKHKL, renewed its uncommitted credit facility (“HK Credit Facility”) with HSBC (the “Bank”), which may be used to fund general working capital needs of MKHKL through November 30, 2018 subject to the Bank’s discretion. The HK Credit Facility provides MKHKL with a revolving line of credit of up to 100.0 million Hong Kong Dollars (approximately $12.7 million), and may be used to support bank guarantees. In addition, this credit facility provides for a business card facility of up to 0.4 million Hong Kong Dollars (less than $0.1 million). Borrowings under the HK Credit Facility must be made in increments of at least 5.0 million Hong Kong Dollars and bear interest at the Hong Kong Interbank Offered Rate (“HIBOR”) plus 150 basis points. As of April 1, 2017, borrowings outstanding under the HK Credit Facility were 45.0 million Hong Kong Dollars (approximately $5.8 million), which were recorded within short-term debt in the Company’s consolidated balance sheet as of April 1, 2017. As of March 31, 2018, there were no borrowings outstanding under the HK Credit Facility. As of March 31, 2018, bank guarantees supported by this facility were 11.8 million Hong Kong Dollars (approximately $1.5 million). At March 31, 2018, the amount available for future borrowings under the HK Credit Facility was 88.2 million Hong Kong Dollars (approximately $11.2 million).

Other

In addition to the above, the Company had letters of credit outstanding of $4.4 million as of March 31, 2018, which have been issued outside of its credit facilities, and were primarily related to lease guarantees for Jimmy Choo.

Commitments and Contingencies

12 Months Ended

Mar. 31, 2018

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Leases

The Company leases office space, retail stores and warehouse space under operating lease agreements that expire at various dates through September 2043. In addition to minimum rental payments, the leases require payment of increases in real estate taxes and other expenses incidental to the use of the property.

Rent expense for the Company’s operating leases consists of the following (in millions):



	Fiscal Years Ended
	March 31, 2018		April 1, 2017		April 2, 2016
Minimum rentals	$	271.8	$	257.0	$	193.5
Contingent rent	80.4		75.5		64.4
Total rent expense	$	352.2	$	332.5	$	257.9

Future minimum lease payments under the terms of these noncancelable operating lease agreements are as follows (in millions):



Fiscal years ending:
2019	$	323.9
2020	299.3
2021	279.5
2022	251.2
2023	221.3
Thereafter	531.4
	$	1,906.6

As of March 31, 2018, the future minimum lease payments in the table above were reduced by total noncancelable future sublease rental income of $11.8 million.

The Company has issued stand-by letters of credit to guarantee certain of its retail and corporate operating lease commitments, aggregating $20.3 million at March 31, 2018, including $15.9 million in letters of credit issued under the 2017 Credit Facility.

Other Commitments

As of March 31, 2018, the Company also has other contractual commitments aggregating $1.731 billion, which consist of inventory purchase commitments of $750.6 million, debt obligations of $874.4 million and other contractual obligations of $106.4 million, which primarily relate to obligations related to the Company’s marketing and advertising agreements, information technology agreements and supply agreements.

Long-term Employment Contract

The Company has an employment agreement with one of its officers that provided for continuous employment through the date of the officer’s death or permanent disability at a salary of $1.35 million. In addition to salary, the agreement provided for an annual bonus and other employee related benefits.

Contingencies

In the ordinary course of business, the Company is party to various legal proceedings and claims. Although the outcome of such items cannot be determined with certainty, the Company’s management does not believe that the outcome of all pending legal proceedings in the aggregate will have a material adverse effect on its cash flow, results of operations or financial position.

Fair Value Measurements

12 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements

Financial assets and liabilities are measured at fair value using the three-level valuation hierarchy for disclosure of fair value measurements. The determination of the applicable level within the hierarchy of a particular asset or liability depends on the inputs used in the valuation as of the measurement date, notably the extent to which the inputs are market-based (observable) or internally derived (unobservable). Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from independent sources. Unobservable inputs are inputs based on a company’s own assumptions about market participant assumptions developed based on the best information available in the circumstances. The hierarchy is broken down into three levels based on the reliability of inputs as follows:

Level 1 – Valuations based on quoted prices in active markets for identical assets or liabilities that a company has the ability to access at the measurement date.

Level 2 – Valuations based on quoted inputs other than quoted prices included within Level 1, that are observable for the asset or liability, either directly or indirectly through corroboration with observable market data.

Level 3 – Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

At March 31, 2018 and April 1, 2017, the fair values of the Company’s foreign currency forward contracts, the Company’s only derivative instruments, were determined using broker quotations, which were calculations derived from observable market information: the applicable currency rates at the balance sheet date and those forward rates particular to the contract at inception. The Company makes no adjustments to these broker obtained quotes or prices, but assesses the credit risk of the counterparty and would adjust the provided valuations for counterparty credit risk when appropriate. The fair values of the forward contracts are included in prepaid expenses and other current assets, and in accrued expenses and other current liabilities in the consolidated balance sheets, depending on whether they represent assets or liabilities to the Company, as detailed in Note 13.

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



	Fair value at March 31, 2018, using:						Fair value at April 1, 2017, using:
	Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Forward foreign currency exchange contracts - assets	$	—	$	—	$	—	$	—	$	4.7	$	—
Forward foreign currency exchange contracts - liabilities	$	—	$	7.7	$	—	$	—	$	0.4	$	—

The Company’s long-term debt obligations are recorded in its consolidated balance sheets at carrying values, which may differ from the related fair values. The fair value of the Company’s long-term debt is estimated using external pricing data, including any available quoted market prices and based on other debt instruments with similar characteristics. Borrowings under revolving credit agreements, if outstanding, are recorded at carrying value, which approximates fair value due to the short-term nature of such borrowings. Please refer to Note 10 for detailed information relating to carrying values of the Company’s outstanding debt. The following table summarizes the carrying values and estimated fair values of the Company’s short- and long-term debt, based on Level 2 measurements (in millions):



	March 31, 2018				April 1, 2017
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
4.000% Senior Notes	$	444.5	$	448.1	$	—	$	—
Term Loan	$	229.0	$	231.2	$	—	$	—
Revolving Credit Facilities	$	200.0	$	200.0	$	133.1	$	133.1

The Company’s cash and cash equivalents, accounts receivable and accounts payable, are recorded at carrying value, which approximates fair value.

Non-Financial Assets and Liabilities

The Company’s non-financial assets include goodwill, intangible assets and property and equipment. Such assets are reported at their carrying values and are not subject to recurring fair value measurements. The Company’s goodwill is assessed for impairment at least annually, while its other long-lived assets, including fixed assets and definite-lived intangible assets, are assessed for impairment whenever events or changes in circumstances indicate that the carrying amount of any such asset may not be recoverable. The fair values of these assets were determined based on Level 3 measurements using the Company’s best estimates of the amount and timing of future discounted cash flows, based on historical experience, market conditions, current trends and performance expectations.

The following table details the carrying values and fair values of the Company’s long-lived assets that have been impaired (in millions):



	Carrying Value Prior to Impairment		Fair Value		Impairment Charge
Fiscal 2018:
Lease Rights	$	4.7	$	0.5	$	4.2
Fixed Assets	30.5		3.0		27.5
Customer relationships	1.0		—		1.0
Total	$	36.2	$	3.5	$	32.7

Fiscal 2017:
Lease Rights	$	33.5	$	3.3	$	30.2
Fixed Assets	186.9		17.9		169.0
Total	$	220.4	$	21.2	$	199.2

Fiscal 2016:
Fixed Assets	$	10.9	$	—	$	10.9

Please refer to Notes 6, 7 and 19 for additional information.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

12 Months Ended

Mar. 31, 2018

Derivative Financial Instruments

The Company uses forward foreign currency exchange contracts to manage its exposure to fluctuations in foreign currency for certain of its transactions. The Company in its normal course of business enters into transactions with foreign suppliers and seeks to minimize risks related to certain forecasted inventory purchases by using forward foreign currency exchange contracts. The Company only enters into derivative instruments with highly credit-rated counterparties. The Company does not enter into derivative contracts for trading or speculative purposes.

The following table details the fair value of the Company’s derivative contracts, which are recorded on a gross basis in the consolidated balance sheets as of March 31, 2018 and April 1, 2017 (in millions):



					Fair Values
	Notional Amounts				Current Assets ⁽¹⁾				Current Liabilities ⁽²⁾
	March 31, 2018		April 1, 2017		March 31, 2018		April 1, 2017		March 31, 2018		April 1, 2017
Designated forward foreign currency exchange contracts	$	161.7	$	167.5	$	—	$	4.7	$	7.7	$	0.4
Total	$	161.7	$	167.5	$	—	$	4.7	$	7.7	$	0.4


⁽¹⁾	Recorded within prepaid expenses and other current assets in the Company’s audited consolidated balance sheets.


⁽²⁾	Recorded within accrued expenses and other current liabilities in the Company’s audited consolidated balance sheets.

The Company records and presents the fair values of all of its derivative assets and liabilities in its consolidated balance sheet on a gross basis as shown in the above table. However, the Company has derivative liabilities of $7.7 million as of March 31, 2018 and derivative assets and liabilities of $4.7 million and $0.3 million, respectively, as of April 1, 2017, which are subject to master netting arrangements. If the Company were to offset and record the asset and liability balances for its derivative instruments on a net basis in accordance with the terms of its master netting arrangements, which provide for the right to setoff amounts for similar transactions denominated in the same currencies, the March 31, 2018 liability would remain unchanged and derivative net assets and net liabilities as of April 1, 2017 would be $4.5 million and $0.2 million, respectively. The Company’s master netting arrangements do not require cash collateral to be pledged by the Company or its counterparties. The Company’s derivative financial instruments were not subject to master netting arrangements in prior fiscal years.

Changes in the fair value of the effective portion of the Company’s forward foreign currency exchange contracts that are designated as accounting hedges are recorded in equity as a component of accumulated other comprehensive income, and are reclassified from accumulated other comprehensive income into earnings when the items underlying the hedged transactions are recognized into earnings, as a component of cost of sales within the Company’s consolidated statements of operations and comprehensive income. The following table summarizes the impact of the effective portion of gains and losses on the forward contracts designated as hedges (in millions):



	Fiscal Year Ended March 31, 2018						Fiscal Year Ended April 1, 2017				Fiscal Year Ended April 2, 2016
	Pre-Tax Loss Recognized in OCI			Pre-tax Loss Reclassified from Accumulated OCI into Earnings			Pre-Tax Gain Recognized in OCI		Pre-tax Gain Reclassified from Accumulated OCI into Earnings		Pre-Tax Loss Recognized in OCI			Pre-tax Gain Reclassified from Accumulated OCI into Earnings
Designated hedges	$	(22.4	)	$	(4.0	)	$	10.2	$	0.4	$	(25.2	)	$	10.9

Amounts related to ineffectiveness were not material during all periods presented. The Company expects that substantially all of the amounts recorded in accumulated other comprehensive loss at March 31, 2018 will be reclassified into earnings during the next twelve months, based upon the timing of inventory purchases and turnover. These amounts are subject to fluctuations in the applicable currency exchange rates.

During Fiscal 2018, Fiscal 2017 and Fiscal 2016, the Company recognized net gains of $3.4 million, net gains of $2.6 million and net losses of $2.1 million respectively, related to the change in the fair value of undesignated forward foreign currency exchange contracts within foreign currency loss (gain) in the Company’s consolidated statements of operations and comprehensive income. The Fiscal 2018 amount included a $4.7 million gain related to the derivative contract entered into on July 25, 2017 to mitigate foreign currency exchange risk associated with the Jimmy Choo acquisition that was settled on October 30, 2017.

Shareholders' Equity	12 Months Ended
Shareholders' Equity	Mar. 31, 2018
Stockholders' Equity Note [Abstract]
Shareholders' Equity	Shareholders’ Equity Share Repurchase Program On May 25, 2017, the Company’s Board of Directors authorized a $1.0 billion share repurchase program. During Fiscal 2018 and Fiscal 2017, the Company repurchased 7,700,959 shares and 21,756,353 shares, respectively, at a cost of $357.8 million and $1.000 billion, respectively, under its share-repurchase programs through open market transactions. As of March 31, 2018, the remaining availability under the Company’s share repurchase program was $642.2 million. Share repurchases may be made in open market or privately negotiated transactions, subject to market conditions, applicable legal requirements, trading transactions under the Company's insider trading policy and other relevant factors. The program may be suspended or discontinued at any time. The Company also has in place a “withhold to cover” repurchase program, which allows the Company to withhold ordinary shares from certain executive officers and directors to satisfy minimum tax withholding obligations relating to the vesting of their restricted share awards. During Fiscal 2018 and Fiscal 2017, the Company withheld 92,536 shares and 100,552 shares, respectively, with a fair value of $3.2 million and $4.8 million, respectively, in satisfaction of minimum tax withholding obligations relating to the vesting of restricted share awards.

Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Mar. 31, 2018

Stockholders' Equity Note [Abstract]

Accumulated Other Comprehensive Income (Loss)

The following table details changes in the components of accumulated other comprehensive income (loss), net of taxes for Fiscal 2018, Fiscal 2017 and Fiscal 2016 (in millions):



	Foreign Currency Translation (Losses) Gains				Net Gains (Losses) on Derivatives ⁽¹⁾			Other Comprehensive (Loss)/Gain Attributable to MKHL			Other Comprehensive Income (Loss) Attributable to Noncontrolling Interest			Total Other Comprehensive (Loss) Income
Balance at March 28, 2015	$	(96.1	)		$	29.3		$	(66.8	)	$	—		$	(66.8	)
Other comprehensive income (loss) before reclassifications	18.4				(22.6		)	(4.2		)	0.1			(4.1		)
Less: amounts reclassified from AOCI to earnings ⁽²⁾	—				9.9			9.9			—			9.9
Other comprehensive income (loss), net of tax	18.4				(32.5		)	(14.1		)	0.1			(14.0		)
Balance at April 2, 2016	(77.7		)		(3.2		)	(80.9		)	0.1			(80.8		)
Other comprehensive (loss) income before reclassifications	(8.4		)	⁽³⁾	9.0			0.6			(0.4		)	0.2
Less: amounts reclassified from AOCI to earnings ⁽²⁾	—				0.3			0.3			—			0.3
Other comprehensive (loss) income, net of tax	(8.4		)		8.7			0.3			(0.4		)	(0.1		)
Balance at April 1, 2017	(86.1		)		5.5			(80.6		)	(0.3		)	(80.9		)
Other comprehensive (loss) income before reclassifications	147.3			⁽³⁾	(19.6		)	127.7			0.1			127.8
Less: amounts reclassified from AOCI to earnings ⁽²⁾	—				(3.4		)	(3.4		)	—			(3.4		)
Other comprehensive (loss) income, net of tax	147.3				(16.2		)	131.1			0.1			131.2
Balance at March 31, 2018	$	61.2			$	(10.7	)	$	50.5		$	(0.2	)	$	50.3

⁽¹⁾

Accumulated other comprehensive income related to net gains (losses) on derivative financial instruments is net of a tax provision (benefit) of $(1.4) million, $0.8 million, and $(0.3) million, respectively, as of March 31, 2018, April 1, 2017 and April 2, 2016. Other comprehensive income (loss) before reclassifications related to derivative instruments for Fiscal 2018, Fiscal 2017, and Fiscal 2016 is net of a tax provision (benefit) of $(2.8) million, $1.2 million, and $(2.6) million, respectively.

⁽²⁾

Reclassified amounts relate to the Company’s forward foreign currency exchange contracts for inventory purchases and are recorded within cost of goods sold in the Company’s consolidated statements of operations and comprehensive income. The amounts reclassified from other comprehensive income for Fiscal 2018 and Fiscal 2016 are net of a tax (benefit) provision of $(0.6) million and $1.0 million, respectively. Tax effect related to Fiscal 2017 was not material.


⁽³⁾	Foreign currency translation (losses) gains include net losses of $9.2 million and net gains of $2.4 million for Fiscal 2018 and Fiscal 2017, respectively, on intra-entity transactions that are of a long-term investment nature. Foreign currency translation gains for Fiscal 2018 also includes an $88.8 million translation gain relating to the newly acquired Jimmy Choo business.

Share-Based Compensation

12 Months Ended

Mar. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Share-Based Compensation

The Company issues equity grants to certain employees and directors of the Company at the discretion of the Company’s Compensation and Talent Committee. The Company has two equity plans, one adopted in Fiscal 2008, the Michael Kors (USA), Inc. Stock Option Plan (as amended and restated, the “2008 Plan”), and the other adopted in the third fiscal quarter of Fiscal 2012 and amended and restated with shareholder approval in May 2015, the Michael Kors Holdings Limited Amended and Restated Omnibus Incentive Plan (the “Incentive Plan”). The 2008 Plan only provided for grants of share options and was authorized to issue up to 23,980,823 ordinary shares. As of March 31, 2018, there were no shares available to grant equity awards under the 2008 Plan. The Incentive Plan allows for grants of share options, restricted shares and restricted share units, and other equity awards, and authorizes a total issuance of up to 15,246,000 ordinary shares. At March 31, 2018, there were 7,193,763 ordinary shares available for future grants of equity awards under the Incentive Plan. Option grants issued from the 2008 Plan generally expire ten years from the date of the grant, and those issued under the Incentive Plan generally expire seven years from the date of the grant.

Share Options

Share options are generally exercisable at the fair market value on the date of grant and vest on a pro-rata basis over a four year service period. The following table summarizes the share options activity during Fiscal 2018, and information about options outstanding at March 31, 2018:



	Number of Options		Weighted Average Exercise price		Weighted Average Remaining Contractual Life (years)	Aggregate Intrinsic Value (in millions)
Outstanding at April 1, 2017	4,791,045		$	28.55
Granted	208,264		$	34.68
Exercised	(1,116,857	)	$	12.34
Canceled/forfeited	(85,832	)	$	67.04
Outstanding at March 31, 2018	3,796,620		$	32.78	2.63	$	124.6
Vested or expected to vest at March 31, 2018	3,776,873		$	32.78	2.63
Vested and exercisable at March 31, 2018	3,132,123		$	29.28	2.19	$	112.8

There were 664,497 unvested options and 3,132,123 vested options outstanding at March 31, 2018. The total intrinsic value of options exercised during Fiscal 2018 and Fiscal 2017 was $48.0 million and $30.5 million, respectively. The cash received from options exercised during Fiscal 2018 and Fiscal 2017 was $13.7 million and $8.3 million, respectively. As of March 31, 2018, the remaining unrecognized share-based compensation expense for nonvested share options was $5.1 million, which is expected to be recognized over the related weighted-average period of approximately 1.85 years.

The weighted average grant date fair value for options granted during Fiscal 2018, Fiscal 2017 and Fiscal 2016, was $11.62, $13.79 and $14.35, respectively. The following table represents assumptions used to estimate the fair value of options:



	Fiscal Years Ended
	March 31, 2018		April 1, 2017		April 2, 2016
Expected dividend yield	0.0	%	0.0	%	0.0	%
Volatility factor	36.3	%	30.1	%	31.1	%
Weighted average risk-free interest rate	1.8	%	1.1	%	1.6	%
Expected life of option	4.69 years		4.75 years		4.75 years

Restricted Shares and Restricted Share Units

The Company grants restricted shares and restricted share units at the fair market value on the date of the grant. Expense for restricted share awards is based on the closing market price of the Company’s shares on the date of grant and is recognized ratably over the vesting period net of expected forfeitures.

Restricted share grants generally vest in equal increments on each of the four anniversaries of the date of grant. In addition, the Company grants two types of restricted share unit (“RSU”) awards: time-based RSUs and performance-based RSUs. Time-based RSUs generally vest in full either generally around the first anniversary of the date of grant for our independent directors, or in equal increments on each of the four anniversaries of the date of grant. Performance-based RSUs vest in full on the second or third anniversary of the date of grant, subject to the employee’s continued employment during the vesting period (unless the employee is retirement-eligible) and only if certain pre-established cumulative performance targets are met. Expense related to performance-based RSUs is recognized ratably over the performance period, net of forfeitures, based on the probability of attainment of the related performance targets. The potential number of shares that may be earned ranges from 0%, if the minimum level of performance is not attained, to 150%, if the level of performance is at or above the predetermined maximum achievement level.

The following table summarizes restricted share activity during Fiscal 2018:



	Restricted Shares
	Number of Unvested Restricted Shares		Weighted Average Grant Date Fair Value
Unvested at April 1, 2017	185,425		$	84.12
Granted	—		$	—
Vested	(114,121	)	$	79.97
Canceled/forfeited	(7,156	)	$	90.87
Unvested at March 31, 2018	64,148		$	90.75

The total fair value of restricted shares vested was $4.0 million, $6.7 million and $14.4 million during Fiscal 2018, Fiscal 2017 and Fiscal 2016, respectively. As of March 31, 2018, the remaining unrecognized share-based compensation expense for non-vested restricted share grants was $1.6 million, which is expected to be recognized over the related weighted-average period of approximately 0.29 years.

The following table summarizes the RSU activity during Fiscal 2018:



	Service-based				Performance-based
	Number of Restricted Share Units		Weighted Average Grant Date Fair Value		Number of Restricted Share Units		Weighted Average Grant Date Fair Value
Unvested at April 1, 2017	1,470,767		$	48.39	401,777		$	58.50
Granted	1,390,454		$	38.57	363,848		$	51.56
Decrease due to performance condition	—		$	—	(12,891	)	$	92.93
Vested	(453,695	)	$	48.20	(95,202	)	$	84.95
Canceled/forfeited	(280,009	)	$	44.46	—		$	—
Unvested at March 31, 2018	2,127,517		$	42.53	657,532		$	50.16

The total fair value of service-based RSUs vested during Fiscal 2018, Fiscal 2017 and Fiscal 2016 was $17.9 million, $13.7 million and $1.1 million, respectively. The total fair value of performance-based RSUs vested during Fiscal 2018 and Fiscal 2017 was $3.6 million and $10.9 million, respectively. As of March 31, 2018, the remaining unrecognized share-based compensation expense for non-vested service-based and performance-based RSU grants was $65.4 million and $17.5 million, respectively, which is expected to be recognized over the related weighted-average periods of approximately 2.51 years and 2.78 years, respectively.

Share-Based Compensation Expense

The following table summarizes compensation expense attributable to share-based compensation for Fiscal 2018, Fiscal 2017 and Fiscal 2016 (in millions):



	Fiscal Years Ended
	March 31, 2018		April 1, 2017		April 2, 2016
Share-based compensation expense	$	49.6	$	33.9	$	48.4
Tax benefits related to share-based compensation expense	$	9.7	$	11.2	$	15.7

Forfeitures are estimated at the time of grant and revised, if necessary, in subsequent periods if actual forfeitures differ from those estimates. The Company estimates forfeitures based on its historical forfeiture rate to date. The estimated value of future forfeitures for equity grants as of March 31, 2018 is approximately $3.0 million.

Taxes

12 Months Ended

Mar. 31, 2018

Income Tax Disclosure [Abstract]

Taxes

The Company is a United Kingdom tax resident and is incorporated in the British Virgin Islands. MKHL’s subsidiaries are subject to taxation in the U.S. and various other foreign jurisdictions, which are aggregated in the “Non-U.S.” information captioned below.

Income before provision for income taxes consisted of the following (in millions):



	Fiscal Years Ended
	March 31, 2018		April 1, 2017		April 2, 2016
U.S.	$	124.1	$	228.4	$	737.5
Non-U.S.	617.7		460.2		434.8
Total income before provision for income taxes	$	741.8	$	688.6	$	1,172.3

The provision for income taxes was as follows (in millions):



	Fiscal Years Ended
	March 31, 2018			April 1, 2017			April 2, 2016
Current
U.S. Federal	$	47.6		$	131.2		$	268.0
U.S. State	15.6			20.4			14.3
Non-U.S.	77.4			45.8			54.2
Total current	140.6			197.4			336.5
Deferred
U.S. Federal	23.9			(34.1		)	0.3
U.S. State	0.9			(5.0		)	1.0
Non-U.S.	(15.7		)	(21.2		)	(3.2		)
Total deferred	9.1			(60.3		)	(1.9		)
Total provision for income taxes	$	149.7		$	137.1		$	334.6

The Company’s provision for income taxes for the years ended March 31, 2018, April 1, 2017 and April 2, 2016 was different from the amount computed by applying statutory U.K. or U.S. federal income tax rates to the underlying income from continuing operations before income taxes and equity in net income of affiliates as a result of the following:



	Fiscal Years Ended
	March 31, 2018		April 1, 2017		April 2, 2016
Provision for income taxes at the U.K. (2018-2017), U.S. (2016) statutory tax rate	19.0	%	20.0	%	35.0	%
State and local income taxes, net of federal benefit	0.5	%	1.3	%	1.2	%
Effects of global financing arrangements	(15.6	)%	(13.7	)%	(2.8	)%
U.S. tax reform	2.0	%	—	%	—	%
Differences in tax effects on foreign income	6.7	%	11.1	%	(5.1	)%
Foreign tax credit	—	%	0.3	%	(0.2	)%
Liability for uncertain tax positions	6.6	%	—	%	—	%
Effect of changes in valuation allowances on deferred tax assets	0.3	%	0.5	%	(0.2	)%
Withholding tax	1.2	%	—	%	—	%
Other	(0.5	)%	0.4	%	0.6	%
Effective tax rate	20.2	%	19.9	%	28.5	%

U.S. Tax Reform

On December 22, 2017, the United States (“U.S.”) government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act includes significant changes to the U.S. corporate income tax system including, among other things, lowering U.S. statutory federal tax rate and implementing a territorial tax system. As the Company has a March 31 fiscal year-end, the lower tax rate will be phased in, resulting in a U.S. statutory federal tax rate of approximately 32% for Fiscal 2018 and a 21% U.S. statutory federal tax rate for fiscal years thereafter. The Tax Act also adds many new provisions, including changes to bonus depreciation, limits on the deductions for executive compensation and interest expense, a tax on global intangible low-taxed income (“GILTI”), the base erosion anti-abuse tax (“BEAT”) and a deduction for foreign derived intangible income (“FDII”). The Company is still evaluating the impact of these provisions of the Tax Act, which do not apply until 2019, and thus, has not adjusted any net deferred tax assets of its foreign subsidiaries for the new tax.

As part of the transition to the new territorial tax system, the Tax Act imposes a tax on the mandatory deemed repatriation of earnings of the Company’s foreign subsidiaries. In addition, the reduction of the U.S. statutory federal tax rate has caused the Company to re-measure its U.S. deferred tax assets and liabilities. In accordance with Accounting Standards Codification (“ASC”) 740, the Company recorded the effects of the tax law change during Fiscal 2018, which resulted in a provisional charge of $21.2 million, comprised of an estimated deemed repatriation tax charge of $3.0 million and an estimated deferred tax charge of $18.2 million due to the re-measurement of the Company’s net U.S. deferred tax assets. Conversely, the Company realized a $6.1 million net benefit for Fiscal 2018 due to the corporate tax rate reductions. While the Tax Act has negatively impacted the Company’s results of operations for Fiscal 2018 by approximately 200 basis points, the lower corporate rate is expected to result in an ongoing reduced tax rate for the Company.

In December 2017, the Securities and Exchange Commission issued Staff Accounting Bulletin (“SAB”) 118 to provide guidance for companies that would allow for a measurement period of up to one year after the enactment date of the Tax Act to finalize the recording of the related tax impacts. The final transition impacts of the Tax Act may differ from the above estimate, possibly materially, due to, among other things, changes in interpretations of the Tax Act, any legislative action to address questions that arise because of the Tax Act, or any changes in accounting standards for income taxes or related interpretations in response to the Tax Act. In addition, once the Company finalizes certain tax positions when it files its 2017 U.S. tax return, it will be able to conclude whether any further adjustments are required to its deferred tax balances in the U.S., as well as to the total liability associated with the one-time mandatory tax. The Company believes that the analysis performed to date is sufficient to calculate a reasonable estimate of the impacts of the Tax Act.

Significant components of the Company’s deferred tax assets (liabilities) consist of the following (in millions):



	Fiscal Years Ended
	March 31, 2018			April 1, 2017
Deferred tax assets
Inventories	$	3.8		$	9.0
Payroll related accruals	1.6			2.2
Deferred rent	24.5			39.5
Net operating loss carryforwards	30.6			17.7
Stock compensation	16.8			26.2
Sales allowances	6.0			10.0
Other	27.0			14.7
	110.3			119.3
Valuation allowance	(13.8		)	(7.2		)
Total deferred tax assets	96.5			112.1

Deferred tax liabilities
Goodwill and intangibles	(240.6		)	(112.3		)
Depreciation	14.0			(2.7		)
Other	—			(3.8		)
Total deferred tax liabilities	(226.6		)	(118.8		)
Net deferred tax liabilities	$	(130.1	)	$	(6.7	)

The Company maintains valuation allowances on deferred tax assets applicable to subsidiaries in jurisdictions for which separate income tax returns are filed and where realization of the related deferred tax assets from future profitable operations is not reasonably assured. Deferred tax valuation allowances increased approximately $7.6 million, $4.4 million and $3.3 million in Fiscal 2018, Fiscal 2017 and Fiscal 2016, respectively. The Company remeasured and reduced valuation allowances amounting to approximately $1.0 million in Fiscal 2018 and released valuation allowances of approximately $0.6 million and $5.6 million in Fiscal 2017 and Fiscal 2016, respectively, as a result of the attainment and expectation of achieving profitable operations in certain countries comprising the Company’s European operations, for which deferred tax valuation allowances had been previously established.

At March 31, 2018, the Company had non-U.S. net operating loss carryforwards of approximately $162.4 million, a portion of which will begin to expire in 2021.

As of March 31, 2018 and April 1, 2017, the Company has liabilities related to its uncertain tax positions, including accrued interest, of approximately $107.4 million and $29.1 million, respectively, which are included in other long-term liabilities in the Company’s audited consolidated balance sheets. The March 31, 2018 balance includes certain tax reserves which were recorded in purchase accounting upon the acquisition of Jimmy Choo, in addition to foreign income tax reserves the Company recorded during Fiscal 2018.

The total amount of unrecognized tax benefits that, if recognized, would impact the effective tax rate was approximately$100.8 million, $26.5 million and $16.8 million as of March 31, 2018, April 1, 2017 and April 2, 2016, respectively. A reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding accrued interest, for Fiscal 2018, Fiscal 2017 and Fiscal 2016, are presented below (in millions):



	Fiscal Years Ended
	March 31, 2018					April 1, 2017			April 2, 2016
Unrecognized tax benefits beginning balance	$	26.5				$	16.8		$	19.9
Additions related to prior period tax positions	30.4			⁽¹	⁾	1.7			—
Additions related to current period tax positions	45.0					10.3			5.8
Decreases in prior period positions due to lapses in statute of limitations	(0.7		)			(2.3		)	(5.7		)
Decreases related to audit settlements	(0.4		)			—			(3.2		)
Unrecognized tax benefits ending balance	$	100.8				$	26.5		$	16.8


⁽¹⁾	Primarily relates to the Jimmy Choo acquisition.

The Company classifies interest expense and penalties related to unrecognized tax benefits as components of the provision for income taxes. Interest expense recognized in the consolidated statements of operations and comprehensive income for Fiscal 2018, Fiscal 2017 and Fiscal 2016 was approximately $6.6 million, $2.5 million and $1.7 million, respectively.

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, the settlements of ongoing tax audits and assessments and the expiration of applicable statutes of limitations. The Company anticipates that the balance of gross unrecognized tax benefits, excluding interest and penalties, will be reduced by approximately $30.8 million during the next twelve months, primarily due to the anticipated tax ruling regarding the deductibility of an intercompany loss in one of our subsidiaries. However, the outcomes and timing of such events are highly uncertain and 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 income tax returns in the U.S., for federal, state, and local purposes, and in certain foreign jurisdictions. With few exceptions, the Company is no longer subject to examinations by the relevant tax authorities for years prior to its fiscal year ended March 28, 2015.

The Company is in the process of evaluating the impact of the Tax Act on its permanent reinvestment assertion. Prior to the enactment of the Tax Act, the Company’s policy with respect to its undistributed earnings of the U.S. and non-U.S. subsidiaries is to consider those earnings to be either indefinitely reinvested or able to be repatriated tax-neutral, as such, U.S. federal and state income taxes were not previously recorded on these earnings. As substantially all of the Company’s earnings of foreign subsidiaries are deemed to have been repatriated as part of the one-time transition tax, no additional U.S. income taxes or foreign withholding taxes have been provided on these earnings. Undistributed earnings of subsidiaries considered to be either indefinitely reinvested or able to be repatriated tax-neutral amounted to $2.542 billion at March 31, 2018. The Company will complete its evaluation within the measurement period allowed by the Securities and Exchange Commission and record the tax effects of any change in its assertion in the period that its analysis is completed and that it is able to make a reasonable estimate of any unrecognized tax liability related to its foreign investments, if practicable.

Retirement Plans	12 Months Ended
Retirement Plans	Mar. 31, 2018
Retirement Benefits [Abstract]
Retirement Plans	Retirement Plans The Company maintains defined contribution plans for employees, who become eligible to participate after three months of service. Features of these plans allow participants to contribute to a plan a percentage of their compensation, up to statutory limits depending upon the country in which a plan operates, and provide for mandatory and/or discretionary matching contributions by the Company, which vary by country. During Fiscal 2018, Fiscal 2017, and Fiscal 2016, the Company recognized expenses of approximately $11.6 million, $9.1 million, and $10.1 million, respectively, related to these retirement plans.

Segment Information

12 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Segment Information

Prior to the third quarter of Fiscal 2018, the Company’s business consisted of three reportable segments for its Michael Kors brand: Retail, Wholesale and Licensing. In connection with the acquisition of Jimmy Choo, the Company evaluated its reportable segments and concluded that Jimmy Choo represents a separate reportable segment. As such, the Company now operates its business through four operating segments—MK Retail, MK Wholesale, MK Licensing and Jimmy Choo—which are based on its business activities and organization. The reportable segments are segments of the Company for which separate financial information is available and for which operating results are evaluated regularly by the Company’s chief operating decision maker in deciding how to allocate resources, as well as in assessing performance. The primary key performance indicators are revenue and operating income for each segment. The Company’s reportable segments represent channels of distribution that offer similar merchandise, customer experience and sales/marketing strategies.

The Company’s four reportable segments are as follows:

•

MK Retail — segment includes sales through Michael Kors operated stores, including “Collection,” “Lifestyle” including “concessions,” and outlet stores located throughout the Americas (U.S., Canada and Latin America, excluding Brazil), Europe and certain parts of Asia, as well as Michael Kors e-commerce sales. Products sold through the MK Retail segment include women’s apparel, accessories (which include handbags and small leather goods such as wallets), men’s apparel, footwear and licensed products, such as watches, jewelry, fragrances and beauty, and eyewear.

•

MK Wholesale — segment includes sales primarily to major department stores and specialty shops throughout the Americas, Europe and Asia. Products sold through the MK Wholesale segment include accessories (which include handbags and small leather goods such as wallets), footwear and women’s and men’s apparel. The Company also has wholesale arrangements pursuant to which it sells products to Michael Kors geographic licensees in certain parts of EMEA (Europe, Middle East and Africa) and Asia, as well as in Brazil.


•	MK Licensing — segment includes royalties and other contributions earned on licensed products and use of the Company’s trademarks, and rights granted to third parties for the right to operate retail stores and/or sell the Company’s products in certain geographic regions such as Brazil, the Middle East, South Africa, Eastern Europe, certain parts of Asia and Australia.

•

Jimmy Choo — segment includes revenue generated from sales of luxury footwear, handbags and small leather goods through directly operated Jimmy Choo stores throughout North America (United States and Canada), EMEA and certain parts of Asia, as well as through Jimmy Choo e-commerce sites. In addition, revenue is generated through wholesale sales to distribution partners (including geographic licensing arrangements), multi-brand department stores and specialty stores worldwide, as well as through product license agreements in connection with the manufacturing and sale of fragrance, sunglasses and eyewear.

All intercompany revenues are eliminated in consolidation and are not reviewed when evaluating segment performance. Corporate overhead expenses are allocated to the segments based upon specific usage or other allocation methods.

The following table presents the key performance information of the Company’s reportable segments (in millions):



	Fiscal Years Ended
	March 31, 2018			April 1, 2017		April 2, 2016
Total revenue:
MK Retail	$	2,711.8		$	2,572.1	$	2,394.9
MK Wholesale	1,639.3			1,775.8		2,143.9
MK Licensing	144.9			145.8		173.3
Michael Kors	4,496.0			4,493.7		4,712.1
Jimmy Choo	222.6			—		—
Total revenue	$	4,718.6		$	4,493.7	$	4,712.1

Income from operations:
MK Retail	$	333.8		$	159.8	$	501.4
MK Wholesale	373.8			468.1		584.1
MK Licensing	58.2			62.0		89.6
Michael Kors	765.8			689.9		1,175.1
Jimmy Choo	(16.7		)	—		—
Income from operations	$	749.1		$	689.9	$	1,175.1

Depreciation and amortization expense for each segment are as follows (in millions):



	Fiscal Years Ended
	March 31, 2018		April 1, 2017		April 2, 2016
Depreciation and amortization⁽¹⁾:
MK Retail	$	135.8	$	156.1	$	114.5
MK Wholesale	57.2		61.6		67.3
MK Licensing	2.4		2.1		1.4
Michael Kors	195.4		219.8		183.2
Jimmy Choo	13.2		—		—
Total depreciation and amortization	$	208.6	$	219.8	$	183.2


⁽¹⁾	Excluded from the above table are impairment charges, which are detailed in the below table and in Note 6, Note 7 and Note 12.

The Company does not have identifiable assets separated by segment. See Note 7 to the accompanying consolidated financial statements for the Company’s goodwill by reportable segment.

The following table presents the Company’s impairment charges by asset type (in millions):



	Fiscal Years Ended
	March 31, 2018		April 1, 2017		April 2, 2016
Impairment Charges:
MK Retail assets	$	31.3	$	198.7	$	8.6
MK Wholesale assets	1.4		0.5		0.4
Corporate assets	—		—		1.9
Total impairment	$	32.7	$	199.2	$	10.9

Total revenue (based on country of origin) and long-lived assets by geographic location are as follows (in millions):



	Fiscal Years Ended
	March 31, 2018		April 1, 2017		April 2, 2016
Revenue:
The Americas (U.S., Canada and Latin America)⁽¹⁾	$	3,033.2	$	3,140.7	$	3,506.6
EMEA	1,092.7		943.9		990.3
Asia	592.7		409.1		215.2
Total revenue	$	4,718.6	$	4,493.7	$	4,712.1



	As of
	March 31, 2018		April 1, 2017		April 2, 2016
Long-lived assets:
The Americas (U.S., Canada and Latin America)⁽¹⁾	$	327.3	$	356.1	$	507.7
EMEA	1,050.3		197.7		284.2
Asia	441.3		455.8		33.7
Total Long-lived assets:	$	1,818.9	$	1,009.6	$	825.6


⁽¹⁾	Net revenues earned in the U.S. during Fiscal 2018, Fiscal 2017, and Fiscal 2016 were $2.818 billion, $2.935 billion and $3.304 billion, respectively. Long-lived assets located in the U.S. as of March 31, 2018 and April 1, 2017 were $303.3 million and $328.8 million, respectively.

Total revenue by major product category are as follows (in millions):



	Fiscal Years Ended
	March 31, 2018		% of Total	April 1, 2017		% of Total		April 2, 2016		% of Total
Accessories	$	3,057.0	64.8%	$	3,061.4	68.1	%	$	3,179.7	67.5	%
Footwear	656.9		13.9%	462.0		10.3	%	491.0		10.4	%
Apparel	604.6		12.8%	543.2		12.1	%	543.7		11.5	%
Licensed product	249.7		5.3%	281.3		6.3	%	324.4		6.9	%
Licensing revenue	150.4		3.2%	145.8		3.2	%	173.3		3.7	%
Total Revenue	$	4,718.6		$	4,493.7			$	4,712.1

Related Party Transactions	12 Months Ended
Related Party Transactions	Mar. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions The Company’s Chief Creative Officer, Michael Kors, and the Company’s Chief Executive Officer, John Idol, and certain of the Company’s former shareholders, including Sportswear Holdings Limited, jointly owned Michael Kors Far East Holdings Limited, a BVI company, prior to the Company’s acquisition of MKHKL on May 31, 2016, which eliminated their ownership interests. On April 1, 2011, the Company entered into certain licensing agreements with certain subsidiaries of Michael Kors Far East Holdings Limited, including MKHKL, (the “Licensees”), which provided the Licensees with certain exclusive rights for use of the Company’s trademarks within China, Hong Kong, Macau and Taiwan, and to import, sell, advertise and promote certain of the Company’s products in these regions, as well as to own and operate stores bearing the Company’s tradenames. The agreements between the Company and the Licensees were scheduled to expire on March 31, 2041, and could be terminated by the Company at certain intervals if minimum sales benchmarks were not met. Royalties earned under these agreements were approximately $1.2 million during the two months ended May 31, 2016 preceding the acquisition, and were approximately $7.6 million during Fiscal 2016. These royalties were driven by Licensee adjusted net sales of the Company’s goods, as defined in the licensing agreement, to their customers of approximately $28.9 million during the two months ended May 31, 2016 preceding the acquisition, and approximately $169.8 million during Fiscal 2016. In addition, the Company sold certain inventory items to the Licensees through its wholesale segment at terms consistent with those of similar licensees in the region. During the two months ended May 31, 2016 preceding the acquisition, amounts recognized as net sales in the Company’s consolidated statement of operations and comprehensive income related to these sales were approximately $7.9 million, and were $62.8 million in Fiscal 2016. Please refer to Note 3 for additional information relating to the Company’s acquisition of MKHKL on May 31, 2016. A former executive officer of the Company (who is no longer a related party as of October 31, 2016) is married to a former employee of one of the Company’s suppliers of fixtures for its shop-in-shops, retail stores and showrooms. Purchases from this supplier, while deemed to be a related party, were $1.7 million and $3.4 million during Fiscal 2017 and Fiscal 2016, respectively.

Selected Quarterly Financial Information (Unaudited)

12 Months Ended

Mar. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Selected Quarterly Financial Information (Unaudited)

The following table summarizes the Fiscal 2018 and Fiscal 2017 quarterly results (dollars in millions):



	Fiscal Quarter Ended ⁽¹⁾
	July 1, 2017		September 30, 2017			December 30, 2017			March 31, 2018
Fiscal 2018
Total revenue	$	952.4	$	1,146.6		$	1,440.1		$	1,179.5
Gross profit	$	574.7	$	690.8		$	884.0		$	709.8
Income from operations	$	149.4	$	199.1	⁽²⁾	$	313.5	⁽³⁾	$	87.1		⁽⁴⁾
Net income	$	125.5	$	202.7		$	219.4		$	44.5
Net income attributable to MKHL	$	125.5	$	202.9		$	219.4		$	44.1
Weighted average ordinary shares outstanding:
Basic	154,486,898		151,781,340			152,047,963			150,818,144
Diluted	156,871,518		154,168,094			154,623,339			154,252,751

	Fiscal Quarter Ended ⁽¹⁾
	July 2, 2016		October 1, 2016			December 31, 2016			April 1, 2017
Fiscal 2017
Total revenue	$	987.9	$	1,088.2		$	1,352.8		$	1,064.8
Gross profit	$	591.3	$	644.7		$	805.7		$	619.7
Income (loss) from operations⁽⁵⁾	$	186.9	$	203.7		$	341.9		$	(42.6	)
Net income (loss)	$	146.3	$	160.7		$	271.3		$	(26.8	)
Net income (loss) attributable to MKHL	$	147.1	$	160.9		$	271.3		$	(26.8	)
Weighted average ordinary shares outstanding:
Basic	174,158,571		166,695,631			163,148,597			159,944,132
Diluted	176,613,751		168,839,967			165,214,045			161,827,486


⁽¹⁾	All fiscal quarters presented contain 13 weeks.


⁽²⁾	Fiscal quarter ended September 30, 2017 includes impairment charges of $16.3 million and restructuring charges of $5.9 million associated with underperforming Michael Kors full-price retail stores, as well as transaction and transition costs of $17.4 million related to the Jimmy Choo acquisition.


⁽³⁾	Fiscal quarter ended December 30, 2017 includes impairment charges of $2.6 million and restructuring charges of $2.4 million associated with underperforming Michael Kors full-price retail stores, as well as transaction and transition costs of $25.6 million related to the Jimmy Choo acquisition.


⁽⁴⁾	Fiscal quarter ended March 31, 2018 includes impairment charges of $13.8 million and restructuring charges of $44.3 million associated with underperforming Michael Kors full-price retail stores, as well as transaction and transition costs of $6.5 million related to the Jimmy Choo acquisition.

⁽⁵⁾

Fiscal quarter ended July 2, 2016 contains $11.3 million in transaction costs related to the acquisition of the previously licensed Greater China business; fiscal quarter ended October 1, 2016 contains $4.9 million in retail fixed asset impairment charges; fiscal quarter ended December 31, 2016 contains $0.5 million in wholesale fixed asset impairment charges; and fiscal quarter ended April 1, 2017 contains $193.8 million in retail long-lived asset impairment charges.

Subsequent Events	12 Months Ended
Subsequent Events	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events During the first quarter of Fiscal 2019, the Company entered into fixed-to-fixed cross currency swap agreements with notional amounts of $290.0 million and $44.0 million to hedge its net investments in Euro-denominated and Japanese Yen-denominated subsidiaries, respectively, against future volatility in the exchange rates between U.S. Dollar and these currencies. Under the terms of these contracts, which mature in November 2024, the Company will exchange the quarterly fixed rate payments made under its Senior Notes for fixed rate payments of 1.585% in Euros and 0.89% in Japanese Yen. These contracts have been designated as net investment hedges. The Company has elected the spot method of designating these contracts under ASU 2017-12 and, as such, changes in the fair value of these contracts related to undiscounted spot changes will be recorded within foreign currency translation gains and losses (“CTA”) as a component of AOCI on the Company’s consolidated balance sheets. Interest accruals and coupon payments will be recognized directly in interest expense, thus reflecting a Euro and a Japanese Yen fixed rate, respectively. Upon discontinuation of the hedge, the changes in spot value and any amounts excluded from the assessment of hedge effectiveness that have not been recognized in earnings will remain within CTA until the hedged net investment is sold, diluted, or liquidated.

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2018
Accounting Policies [Abstract]
Fiscal Period	The Company utilizes a 52 to 53 week fiscal year ending on the Saturday closest to March 31. As such, the fiscal years ending on March 31, 2018 and April 1, 2017 (“Fiscal 2018” and “Fiscal 2017”, respectively) contain 52 weeks, whereas the fiscal year ending on April 2, 2016 (“Fiscal 2016”) contained 53 weeks.
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires management to use judgment and make estimates that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The level of uncertainty in estimates and assumptions increases with the length of time until the underlying transactions are completed. The most significant assumptions and estimates involved in preparing the financial statements include allowances for customer deductions, sales returns, sales discounts and doubtful accounts, estimates related to the Company’s new customer loyalty program, estimates of inventory recovery, the valuation of share-based compensation, valuation of deferred taxes and the estimated useful lives used for amortization and depreciation of intangible assets and property and equipment. Actual results could differ from those estimates.
Reclassifications	Reclassifications Certain reclassifications have been made to the prior periods’ financial information in order to conform to the current period’s presentation.
Seasonality	Seasonality The Company experiences certain effects of seasonality with respect to its business. The Company’s MK Retail segment generally experiences greater sales during its third fiscal quarter as a result of holiday season sales. The MK Wholesale segment generally experiences the lowest sales in its first fiscal quarter. The Jimmy Choo segment generally experiences greater sales during its third fiscal quarter, primarily driven by the product launch calendar and holiday season sales. In the aggregate, the Company’s first fiscal quarter typically experiences less sales volume relative to the other three quarters and its third fiscal quarter generally has higher sales volume relative to the other three quarters.
Revenue Recognition	Revenue Recognition Revenue is recognized when there is persuasive evidence of an arrangement, delivery has occurred, the price has been fixed and determinable and collectability is reasonably assured. The Company recognizes retail store revenues upon sale of its products to retail consumers, net of estimated returns. Revenue from sales through the Company’s e-commerce sites is recognized at the time of delivery to the customer, reduced by an estimate of returns. Wholesale revenue is recognized net of estimates for sales returns, discounts, markdowns and allowances, after merchandise is shipped and the title and risk of loss are transferred to the Company’s wholesale customers. To arrive at net sales for retail, gross sales are reduced by actual customer returns as well as by a provision for estimated future customer returns, which is based on management’s review of historical and current customer returns. Sales taxes collected from retail customers are presented on a net basis and, as such, are excluded from revenue. To arrive at net sales for wholesale, gross sales are reduced by provisions for estimated future returns, based on current expectations, as well as trade discounts, markdowns, allowances, operational chargebacks, and certain cooperative selling expenses. These estimates are based on such factors as historical trends, actual and forecasted performance, and market conditions, which are reviewed by management on a quarterly basis. Royalty revenue generated from product licenses, which includes contributions for advertising, is based on reported sales of licensed products bearing the Company’s tradenames at rates specified in the license agreements. These agreements are also subject to contractual minimum levels. Royalty revenue generated by geographic licensing agreements is recognized as it is earned under the licensing agreements based on reported sales of licensees applicable to specified periods, as outlined in the agreements. These agreements allow for the use of the Company’s tradenames to sell its branded products in specific geographic regions.
Loyalty Program	Loyalty Program During Fiscal 2018, the Company launched its Michael Kors customer loyalty program in the U.S., which allows customers to earn points on qualifying purchases toward monetary and non-monetary rewards that may be redeemed for purchases at the Company’s U.S. retail stores and e-commerce site. The Company defers a portion of the initial sales transaction based on the estimated relative fair value of the benefits using statistical formulas based on projected timing of future redemptions and historical activity. These amounts include estimated “breakage” for points that are not expected to be redeemed. The deferred revenue, net of an estimated “breakage,” is recorded as a reduction to revenue in the consolidated statements of income and comprehensive income and within accrued expenses and other current liabilities in the Company’s consolidated balance sheets.
Advertising and Marketing Costs	Advertising and Marketing Costs Advertising and marketing costs are expensed over the period of benefit and are recorded in general and administrative expenses. Advertising and marketing expense was $167.1 million, $118.7 million and $103.9 million in Fiscal 2018, Fiscal 2017 and Fiscal 2016, respectively. Cooperative advertising expense, which represents the Company’s participation in advertising expenses of its wholesale customers, is reflected as a reduction of net sales.
Shipping and Handling	Shipping and Handling Freight-in expenses are recorded as part of cost of goods sold, along with product costs and other costs to acquire inventory. The costs of preparing products for sale, including warehousing expenses, are included in selling, general and administrative expenses. Selling, general and administrative expenses also include the costs of shipping products to the Company’s e-commerce customers. Shipping and handling costs included within selling, general and administrative expenses in the Company’s consolidated statements of operations and comprehensive income were $107.6 million, $102.1 million and $98.6 million for Fiscal 2018, Fiscal 2017 and Fiscal 2016, respectively. Shipping and handling costs charged to customers are included in total revenue.
Cash and Cash Equivalents	Cash and Cash Equivalents All highly liquid investments with original maturities of three months or less are considered to be cash equivalents. Included in the Company’s cash and cash equivalents as of March 31, 2018 and April 1, 2017 are credit card receivables of $21.2 million and $13.9 million, respectively, which generally settle within two to three business days. At March 31, 2018 and April 1, 2017, the Company had restricted cash of $0.3 million and $1.9 million, respectively, primarily related to European customs obligations, which was recorded within prepaid expenses and other current assets in the Company’s consolidated balance sheets.
Inventories	Inventories Inventories consist of finished goods and are stated at the lower of cost or net realizable value. Cost is determined using the weighted-average cost method. Costs include amounts paid to independent manufacturers, plus duties and freight to bring the goods to the Company’s warehouses, which are located in the United States, Canada, Holland, Switzerland, United Kingdom, United Arab Emirates, China, Japan, Hong Kong and South Korea. The Company continuously evaluates the composition of its inventory and makes adjustments when the cost of inventory is not expected to be fully recoverable. The net realizable value of the Company’s inventory is estimated based on historical experience, current and forecasted demand, and market conditions. In addition, reserves for inventory losses are estimated based on historical experience and physical inventory counts. The Company’s inventory reserves are estimates, which could vary significantly from actual results if future economic conditions, customer demand or competition differ from expectations. Our historical estimates of these adjustments have not differed materially from actual results.
Store Pre-opening Costs	Store Pre-opening Costs Costs associated with the opening of new retail stores and start up activities, are expensed as incurred.
Property and Equipment	Property and Equipment Property and equipment is stated at cost less accumulated depreciation and amortization (carrying value). Depreciation is recorded on a straight-line basis over the expected remaining useful lives of the related assets. Equipment, furniture and fixtures, are depreciated over five to seven years, computer hardware and software are depreciated over three to five years. The Company’s share of the cost of constructing in-store shop displays within its wholesale customers’ floor-space (“shop-in-shops”), which is paid directly to third-party suppliers, is capitalized as property and equipment and is generally amortized over a useful life of three to four years. Leasehold improvements are amortized using the straight-line method over the shorter of the estimated remaining useful lives of the related assets or the remaining lease term, including highly probable renewal periods. The Company includes all depreciation and amortization expense as a component of total operating expenses, as the underlying long-lived assets are not directly or indirectly related to bringing the Company’s products to their existing location and condition. Maintenance and repairs are charged to expense in the year incurred. The Company capitalizes, in property and equipment, direct costs incurred during the application development stage and the implementation stage for developing, purchasing or otherwise acquiring software for its internal use. These costs are amortized over the estimated useful lives of the software, generally five years. All costs incurred during the preliminary project stage, including project scoping and identification and testing of alternatives, are expensed as incurred.
Definite-Lived Intangible Assets	Definite-Lived Intangible Assets The Company’s definite-lived intangible assets consist of trademarks, lease rights and customer relationships and are stated at cost less accumulated amortization. Michael Kors trademarks are amortized over twenty years, customer relationships are amortized over five to eighteen years, and lease rights are amortized over the terms of the related lease agreements, including highly probable renewal periods, on a straight-line basis. Reacquired rights recorded in connection with the acquisition of MKHKL are amortized through March 31, 2041, the original expiration date of the Company’s license agreement in the Greater China region.
Impairment of Long-lived Assets	Impairment of Long-lived Assets The Company evaluates its long-lived assets, including fixed assets and definite-lived intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of any such asset may not be recoverable. The Company’s impairment testing is based on its best estimate of its future operating cash flows. If the sum of estimated undiscounted future cash flows associated with the asset is less than the asset’s carrying value, an impairment charge is recognized, which is measured as the amount by which the carrying value exceeds the fair value of the asset. These estimates of cash flow require significant management judgment and certain assumptions about future volume, sales and expense growth rates, devaluation and inflation. As such, these estimates may differ from actual cash flows.
Goodwill	Goodwill and Other Indefinite-lived Intangible Assets The Company records intangible assets based on their fair value on the date of acquisition. Goodwill is recorded for the difference between the fair value of the purchase consideration over the fair value of the net identifiable tangible and intangible assets acquired. The brand intangible asset recorded in connection with the Jimmy Choo acquisition was determined to be an indefinite-lived intangible asset, which is not subject to amortization. The Company performs an impairment assessment of goodwill and the Jimmy Choo brand intangible asset on an annual basis, or whenever impairment indicators exist. In the absence of any impairment indicators, goodwill and the Jimmy Choo brand are assessed for impairment during the fourth quarter of each fiscal year. Judgments regarding the existence of impairment indicators are based on market conditions and operational performance of the business. The Company may assess its goodwill and its indefinite-lived intangible asset for impairment initially using a qualitative approach to determine whether it is more likely than not that the fair value of these assets is greater than their carrying value. When performing a qualitative test, the Company assesses various factors including industry and market conditions, macroeconomic conditions and performance of the Company's businesses. If the results of the qualitative assessment indicate that it is more likely than not that the Company’s goodwill and other indefinite-lived intangible assets are impaired, a quantitative impairment analysis would be performed to determine if impairment is required. The Company may also elect to perform a quantitative analysis of goodwill and its indefinite-lived intangible asset initially rather than using a qualitative approach. The impairment testing for goodwill is performed at the reporting unit level. The valuation methods used in the quantitative fair value assessment, discounted cash flow and market multiples method, require the Company’s management to make certain assumptions and estimates regarding certain industry trends and future profitability of the Company’s reporting units. If the fair value of a reporting unit exceeds the related carrying value, the reporting unit's goodwill is considered not to be impaired and no further testing is performed. If the carrying value of a reporting unit exceeds its fair value, an impairment loss is recorded for the difference. The valuation of goodwill is affected by, among other things, the Company’s business plan for the future and estimated results of future operations. Future events could cause the Company to conclude that impairment indicators exist, and, therefore, that goodwill may be impaired. If the Company elects to perform a quantitative impairment assessment of the Company's indefinite-lived intangible asset, the fair value of the Jimmy Choo brand is estimated using a discounted cash flow analysis based on the "relief from royalty" method, assuming that a third party would be willing to pay a royalty in lieu of ownership for this intangible asset. This approach is dependent on many factors, including estimates of future growth, royalty rates, and discount rates. Actual future results may differ from these estimates. Impairment loss is recognized when the estimated fair value of the Jimmy Choo brand intangible assets is less than its carrying amount.
Other Indefinite-lived Intangible Assets	Goodwill and Other Indefinite-lived Intangible Assets The Company records intangible assets based on their fair value on the date of acquisition. Goodwill is recorded for the difference between the fair value of the purchase consideration over the fair value of the net identifiable tangible and intangible assets acquired. The brand intangible asset recorded in connection with the Jimmy Choo acquisition was determined to be an indefinite-lived intangible asset, which is not subject to amortization. The Company performs an impairment assessment of goodwill and the Jimmy Choo brand intangible asset on an annual basis, or whenever impairment indicators exist. In the absence of any impairment indicators, goodwill and the Jimmy Choo brand are assessed for impairment during the fourth quarter of each fiscal year. Judgments regarding the existence of impairment indicators are based on market conditions and operational performance of the business. The Company may assess its goodwill and its indefinite-lived intangible asset for impairment initially using a qualitative approach to determine whether it is more likely than not that the fair value of these assets is greater than their carrying value. When performing a qualitative test, the Company assesses various factors including industry and market conditions, macroeconomic conditions and performance of the Company's businesses. If the results of the qualitative assessment indicate that it is more likely than not that the Company’s goodwill and other indefinite-lived intangible assets are impaired, a quantitative impairment analysis would be performed to determine if impairment is required. The Company may also elect to perform a quantitative analysis of goodwill and its indefinite-lived intangible asset initially rather than using a qualitative approach. The impairment testing for goodwill is performed at the reporting unit level. The valuation methods used in the quantitative fair value assessment, discounted cash flow and market multiples method, require the Company’s management to make certain assumptions and estimates regarding certain industry trends and future profitability of the Company’s reporting units. If the fair value of a reporting unit exceeds the related carrying value, the reporting unit's goodwill is considered not to be impaired and no further testing is performed. If the carrying value of a reporting unit exceeds its fair value, an impairment loss is recorded for the difference. The valuation of goodwill is affected by, among other things, the Company’s business plan for the future and estimated results of future operations. Future events could cause the Company to conclude that impairment indicators exist, and, therefore, that goodwill may be impaired. If the Company elects to perform a quantitative impairment assessment of the Company's indefinite-lived intangible asset, the fair value of the Jimmy Choo brand is estimated using a discounted cash flow analysis based on the "relief from royalty" method, assuming that a third party would be willing to pay a royalty in lieu of ownership for this intangible asset. This approach is dependent on many factors, including estimates of future growth, royalty rates, and discount rates. Actual future results may differ from these estimates. Impairment loss is recognized when the estimated fair value of the Jimmy Choo brand intangible assets is less than its carrying amount.
Insurance	Insurance The Company uses a combination of insurance and self-insurance for losses related to a number of risks, including workers’ compensation and employee-related health care benefits. The Company also maintains stop-loss coverage with third-party insurers to limit its exposure arising from claims. Self-insurance claims filed and claims incurred but not reported are accrued based upon management’s estimates of the discounted cost for self-insured claims incurred using actuarial assumptions, historical loss experience, actual payroll and other data. Although the Company believes that it can reasonably estimate losses related to these claims, actual results could differ from these estimates. The Company also maintains other types of customary business insurance policies, including business interruption insurance. Insurance recoveries represent gain contingencies and are recorded upon actual settlement with the insurance carrier. During Fiscal 2017, the Company received an insurance settlement of $3.8 million related to the prior-year disruption to our former third party operated e-commerce fulfillment center. This amount was recorded within other income in the Company’s consolidated statement of operations and comprehensive income for Fiscal 2017.
Share-based Compensation	Share-based Compensation The Company grants share-based awards to certain employees and directors of the Company. The grant date fair value of share options is calculated using the Black-Scholes option pricing model. Beginning in Fiscal 2018, the Company began using its own historical experience in determining the expected holding period and volatility of its time-based share option awards. In prior periods, the Company used the simplified method for determining the expected life of its options and average volatility rates of similar actively traded companies over the estimated holding period, due to insufficient historical option exercise experience as a public company. The risk-free interest rate is derived from the zero-coupon U.S. Treasury Strips yield curve based on the grant’s estimated holding period. Determining the grant date fair value of share-based awards requires considerable judgment, including estimating expected volatility, expected term and risk-free rate. If factors change and the Company employs different assumptions, the fair value of future awards and the resulting share-based compensation expense may differ significantly from what the Company has estimated in the past. The closing market price of the Company’s shares on the date of grant is used to determine the grant date fair value of restricted shares, restricted shares units (RSUs) and performance RSUs. These fair values are recognized as expense over the requisite service period, net of estimated forfeitures, based on expected attainment of pre-established performance goals for performance grants, or the passage of time for those grants which have only time-based vesting requirements.
Foreign Currency Translation and Transactions	Foreign Currency Translation and Transactions The financial statements of the majority of the Company’s foreign subsidiaries are measured using the local currency as the functional currency. The Company’s functional currency is the United States Dollar (“USD”) for MKHL and its United States based subsidiaries. Assets and liabilities are translated using period-end exchange rates, while revenues and expenses are translated using average exchange rates over the reporting period. The resulting translation adjustments are recorded separately in shareholders’ equity as a component of accumulated other comprehensive income (loss). Foreign currency income and losses resulting from the re-measuring of transactions denominated in a currency other than the functional currency of a particular entity are included in foreign currency (gain) loss on the Company’s consolidated statements of operations and comprehensive income.
Derivative Financial Instruments	Derivative Financial Instruments The Company uses forward currency exchange contracts to manage its exposure to fluctuations in foreign currency for certain transactions. The Company, in its normal course of business, enters into transactions with foreign suppliers and seeks to minimize risks related to these transactions. The Company employs these forward currency contracts to hedge the Company’s cash flows, as they relate to foreign currency transactions. Certain of these contracts are designated as hedges for accounting purposes, while others remain undesignated. All of the Company’s derivative instruments are recorded in the Company’s consolidated balance sheets at fair value on a gross basis, regardless of their hedge designation. In connection with the July 25, 2017 recommended cash offer for the entire issued and to be issued share capital of Jimmy Choo, the Company entered into a forward foreign currency exchange contract with a notional amount of £1.115 billion to mitigate its foreign currency exchange risk related to the acquisition. This derivative contract was not designated as an accounting hedge. Therefore, changes in fair value were recorded to foreign currency (gain) loss in the Company’s consolidated statement of operations. The Company’s accounting policy is to classify cash flows from derivative instruments in the same category as the cash flows from the items being hedged. Accordingly, the Company classified the $4.7 million realized gain relating to this derivative instrument within cash flows from investing activities for Fiscal 2018. The Company designates certain contracts related to the purchase of inventory that qualify for hedge accounting as cash flow hedges. Formal hedge documentation is prepared for all derivative instruments designated as hedges, including description of the hedged item and the hedging instrument, the risk being hedged, and the manner in which hedge effectiveness will be assessed prospectively and retrospectively. The effective portion of changes in the fair value for contracts designated as cash flow hedges is recorded in equity as a component of accumulated other comprehensive income (loss) until the hedged item affects earnings. When the inventory related to forecasted inventory purchases that are being hedged is sold to a third party, the gains or losses deferred in accumulated other comprehensive income (loss) are recognized within cost of goods sold. The Company uses regression analysis to assess effectiveness of derivative instruments that are designated as hedges, which compares the change in the fair value of the derivative instrument to the change in the related hedged item. Effectiveness is assessed on a quarterly basis and any portion of the designated hedge contracts deemed ineffective is recorded to foreign currency gain (loss). If the hedge is no longer expected to be highly effective in the future, future changes in the fair value are recognized in earnings. For those contracts that are not designated as hedges, changes in the fair value are recorded to foreign currency gain (loss) in the Company’s consolidated statements of operations and comprehensive income. The Company classifies cash flows relating to its derivative instruments consistently with the classification of the hedged item, within cash flows from operating activities. The Company is exposed to the risk that counterparties to derivative contracts will fail to meet their contractual obligations. In order to mitigate counterparty credit risk, the Company only enters into contracts with carefully selected financial institutions based upon their credit ratings and certain other financial factors, adhering to established limits for credit exposure. The aforementioned forward contracts generally have a term of no more than 12 months. The period of these contracts is directly related to the foreign transaction they are intended to hedge.
Income Taxes	Income Taxes Deferred income tax assets and liabilities have been provided for temporary differences between the tax bases and financial reporting bases of the Company’s assets and liabilities using the tax rates and laws in effect for the periods in which the differences are expected to reverse. The Company periodically assesses the realizability of deferred tax assets and the adequacy of deferred tax liabilities, based on the results of local, state, federal or foreign statutory tax audits or estimates and judgments used. Realization of deferred tax assets associated with net operating loss and tax credit carryforwards is dependent upon generating sufficient taxable income prior to their expiration in the applicable tax jurisdiction. The Company periodically reviews the recoverability of its deferred tax assets and provides valuation allowances, as deemed necessary, to reduce deferred tax assets to amounts that more-likely-than-not will be realized. The Company’s management considers many factors when assessing the likelihood of future realization of deferred tax assets, including recent earnings results within various taxing jurisdictions, expectations of future taxable income, the carryforward periods remaining and other factors. Changes in the required valuation allowance are recorded in income in the period such determination is made. Deferred tax assets could be reduced in the future if the Company’s estimates of taxable income during the carryforward period are significantly reduced or alternative tax strategies are no longer viable. The Company recognizes the impact of an uncertain income tax position taken on its income tax returns at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant taxing authority. An uncertain income tax position will be recognized if it has less than a 50% likelihood of being sustained. The tax positions are analyzed periodically (at least quarterly) and adjustments are made as events occur that warrant adjustments for those positions. The Company records interest expense and penalties payable to relevant tax authorities as income tax expense.
Rent Expense, Deferred Rent and Landlord Construction Allowances	Rent Expense, Deferred Rent and Landlord Construction Allowances The Company leases office space, retail stores and distribution facilities under agreements that are classified as operating leases. Many of these operating leases include contingent rent provisions (percentage rent), and/or provide for certain landlord allowances related to tenant improvements and other relevant items. The recognition of rent expense for an operating lease commences on the earlier of the related lease commencement date or the date of possession of the property. Rent expense is calculated by recognizing total minimum rental payments (net of any rental abatements, construction allowances and other rental concessions) on a straight-line basis over the lease term. The difference between straight-line rent expense and rent paid is recorded as deferred rent, which is classified within short-term and long-term liabilities in the Company’s consolidated balance sheets. The Company accounts for landlord allowances and incentives as a component of deferred rent, which is amortized over the lease term as a reduction of rent expense. The Company records rent expense as a component of selling, general and administrative expenses.
Debt Issuance Costs and Unamortized Discounts	Debt Issuance Costs and Unamortized Discounts The Company defers debt issuance costs directly associated with acquiring third party financing. These debt issuance costs and any discounts on issued debt are amortized on a straight-line basis, which approximates the effective interest method, as interest expense over the term of the related indebtedness. Deferred financing fees associated with the Company’s revolving credit facilities are recorded within prepaid expenses and other current assets. Deferred financing fees and unamortized discounts associated with the Company’s other borrowings are recorded as an offset to long-term debt in the Company’s consolidated balance sheets. See Note 10 for additional information.
Net Income per Share	Net Income per Share The Company’s basic net income per ordinary share is calculated by dividing net income by the weighted average number of ordinary shares outstanding during the period. Diluted net income per ordinary share reflects the potential dilution that would occur if share option grants or any other potentially dilutive instruments, including restricted shares and units (“RSUs”), were exercised or converted into ordinary shares. These potentially dilutive securities are included in diluted shares to the extent they are dilutive under the treasury stock method for the applicable periods. Performance-based RSUs are included in diluted shares if the related performance conditions are considered satisfied as of the end of the reporting period and to the extent they are dilutive under the treasury stock method.
Recently Adopted and Recently Issued Accounting Pronouncements	Recently Adopted Accounting Pronouncements Business Combinations In January 2017, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2017-01, “Business Combinations (Topic 805) - Clarifying the Definition of a Business,” to clarify the definition of a business in order to allow for the evaluation of whether transactions should be accounted for as acquisitions or disposals of assets or businesses. ASU 2017-01 is effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years with early adoption permitted. The Company adopted ASU 2017-01 during the three months ended December 30, 2017, which did not have a material impact on its consolidated financial statements. Share-Based Compensation In March 2016, the FASB issued ASU No. 2016-09, “Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting,” which simplifies accounting and presentation of share-based payments, primarily relating to the recognition and classification of excess tax benefits, accounting for forfeitures and tax withholding requirements. The Company adopted ASU 2016-09 during the first quarter of Fiscal 2018, as required. Accordingly, during Fiscal 2018 excess tax benefits of $7.3 million which would have been previously reflected within additional paid-in capital, were recognized within the Company’s provision of income taxes. This change is expected to increase volatility in future provisions for income taxes. In addition, the Company eliminated windfall tax benefits from the treasury stock method calculation used to compute its diluted earnings per share. Both of the above changes have been adopted on a prospective basis, whereas cash flows related to excess tax benefits, previously reflected within financing activities, have been presented within operating activities within the Company’s consolidated statements of cash flows on a retrospective basis. Cash flows related to excess tax benefits were $6.6 million during Fiscal 2017. The Company continues to reflect estimated forfeitures in its share-based compensation expense. Goodwill In January 2017, the FASB issued ASU 2017-04, “Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment,” which simplifies the test for goodwill impairment by eliminating Step 2 of goodwill impairment analysis, while retaining the option to perform an initial qualitative assessment for a reporting unit to determine if a quantitative impairment test is required. ASU 2017-04 is effective in the Company’s Fiscal 2021 with early adoption permitted and should be applied on a prospective basis. The Company early adopted the goodwill impairment testing provisions of ASU 2017-04 during the fourth quarter of Fiscal 2018, with no impact on its consolidated financial statements. Recently Issued Accounting Pronouncements The Company has considered all new accounting pronouncements and, other than the recent pronouncements discussed below, have concluded that there are no new pronouncements that may have a material impact on our results of operations, financial condition or cash flows based on current information. Hedge Accounting On August 28, 2017, the FASB issued ASU No. 2017-12, “Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities.” The new standard is intended to improve and simplify rules relating to hedge accounting, including the elimination of periodic hedge ineffectiveness, recognition and presentation of components excluded from hedge effectiveness assessment, the ability to elect to perform subsequent effectiveness assessments qualitatively, and other provisions designed to provide more transparency around the economics of a company’s hedging strategy. ASU 2017-12 is effective for the Company in Fiscal 2020, with early adoption permitted. The Company plans to early adopt ASU 2017-12 in the first quarter of Fiscal 2019. The adoption of ASU 2017-12 is not expected to have a material impact on the Company’s consolidated financial statements with respect to its existing forward foreign currency exchange contracts. However upon adoption, the Company will apply the spot method of designating these contracts under ASU 2017-12 to the net investment hedges that were executed during the first quarter of Fiscal 2019. See Note 22 for additional information. Revenue Recognition In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606),” which provides new guidance for revenues recognized from contracts with customers, and will replace the existing revenue recognition guidance. ASU 2014-09 requires that revenue is recognized at an amount the company is entitled to upon transferring control of goods or services to customers, as opposed to when risks and rewards transfer to a customer. In July 2015, the FASB issued ASU No. 2015-14, “Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date,” which deferred the effective date of ASU 2014-09 by one year, making it effective for the interim reporting periods within the annual reporting period beginning after December 15, 2017, or beginning with the Company’s Fiscal 2019. This standard may be applied retrospectively to all prior periods presented, or retrospectively with a cumulative adjustment to retained earnings in the year of adoption. The FASB has issued several additional ASUs to provide implementation guidance on ASU No. 2014-09, including ASU No. 2016-20, “Technical Corrections and Improvements to Topic 606, Revenue from Contracts with Customers” issued in December 2016, ASU No. 2016-12, “Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients” issued in May 2016, ASU No. 2016-10, “Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing” issued in April 2016, and ASU No. 2016-08, “Revenue from Contracts with Customers (Topic 606): Principal versus Agent Considerations (Reporting Revenue Gross versus Net)” issued in March 2016. The Company will consider this guidance in evaluating the impact of ASU 2014-09 (collectively, “ASC 606”). Most of our business is comprised of retail and wholesale operations, where revenue is recognized at a point of time. The Company has completed the initial assessment of the new standard and is currently progressing in its implementation. While the evaluation process is not complete, based on our assessment to date, the Company believes that some of the potential impacts of implementing this standard will include the timing of revenue recognition for its licensing royalties, recognition of breakage revenue for unredeemed gift cards, as well as expanded financial statement disclosures, including revenue recognition policies to identify performance obligations to customers and significant judgments in measurement and recognition. The Company will adopt the standard beginning with the first quarter of Fiscal 2019, as required, using the modified retrospective method. The Company has completed its evaluation of the cumulative adjustment and has concluded that it will have an immaterial impact on its retained earnings. This adjustment will be primarily associated with unrecognized gift card breakage revenue and product licensing revenue previously recorded on a one-month lag. Lease Accounting In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842),” which requires lessees to recognize a lease liability and a right-to-use asset on the balance sheet for all leases, except certain short-term leases. ASU 2016-02 is effective beginning with the Company’s Fiscal 2020, with early adoption permitted, and must be implemented using a modified retrospective approach for all leases existing at, or entered into after the beginning of the earliest comparative period that is presented in the financial statements. The Company is currently evaluating the impact of ASU 2016-02 on its consolidated financial statements but expects that the adoption of this standard will result in a significant increase in assets and liabilities on its consolidated balance sheets. Share-Based Compensation In May 2017, the FASB issued ASU No. 2017-09, “Compensation-Stock Compensation (Topic 718): Scope of Modification Accounting”, which simplifies modification accounting for entities that change the terms or conditions of share-based awards. ASU 2017-09 is effective for the Company’s Fiscal 2019 with early adoption permitted and is required to be applied on a prospective basis. The Company will evaluate the impact of ASU 2017-09 on any future changes to the terms and conditions of its share-based compensation awards. Income Taxes In October 2016, the FASB issued ASU 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory”, which requires recognition of income tax consequences of an intra-entity transfer of an asset other than inventory when the transfer occurs. ASU 2016-16 is effective and the Company will adopt the standard beginning with the first quarter of Fiscal 2019, as required, using the modified retrospective method. The Company has completed its evaluation of the cumulative adjustment and has concluded that it will have an immaterial impact on its retained earnings.
Receivables	Receivables are presented net of allowances for sales returns, discounts, markdowns, operational chargebacks and doubtful accounts. Sales returns are determined based on an evaluation of current market conditions and historical returns experience. Discounts are based on open invoices where trade discounts have been extended to customers. Allowances are based on wholesale customers’ sales performance, seasonal negotiations with customers, historical deduction trends and an evaluation of current market conditions. Operational chargebacks are based on deductions taken by customers, net of expected recoveries. Such provisions, and related recoveries, are reflected in revenues. The Company’s allowance for doubtful accounts is determined through analysis of periodic aging of receivables that are not covered by insurance and assessments of collectability based on an evaluation of historic and anticipated trends, the financial condition of the Company’s customers and the impact of general economic conditions. The past due status of a receivable is based on its contractual terms. Amounts deemed uncollectible are written off against the allowance when it is probable the amounts will not be recovered.

Summary of Significant Accounting Policies (Tables)

12 Months Ended

Mar. 31, 2018

Accounting Policies [Abstract]

Activity and Balances of Sales Reserves

The following table details the activity and balances of the Company’s sales reserves for the fiscal years ended March 31, 2018, April 1, 2017, and April 2, 2016 (in millions):



	Balance Beginning of Year		Amounts Charged to Revenue		Write-offs Against Reserves			Balance at Year End
Retail
Return Reserves:
Fiscal year ended March 31, 2018	$	7.3	$	160.7	$	(155.9	)	$	12.1
Fiscal year ended April 1, 2017	4.7		102.4		(99.8		)	7.3
Fiscal year ended April 2, 2016	2.5		71.7		(69.5		)	4.7



	Balance Beginning of Year		Amounts Charged to Revenue		Write-offs Against Reserves			Balance at Year End
Wholesale
Total Sales Reserves:
Fiscal year ended March 31, 2018	$	96.7	$	257.7	$	(245.8	)	$	108.6
Fiscal year ended April 1, 2017	110.9		271.1		(285.3		)	96.7
Fiscal year ended April 2, 2016	87.5		348.4		(325.0		)	110.9

Components of Calculation of Basic Net Income Per Ordinary Share and Diluted Net Income Per Ordinary Share

The components of the calculation of basic net income per ordinary share and diluted net income per ordinary share are as follows (in millions, except share and per share data):



	Fiscal Years Ended
	March 31, 2018		April 1, 2017		April 2, 2016
Numerator:
Net income attributable to MKHL	$	591.9	$	552.5	$	839.1
Denominator:
Basic weighted average shares	152,283,586		165,986,733		186,293,295
Weighted average dilutive share equivalents:
Share options and restricted shares/units, and performance restricted share units	2,819,299		2,137,080		2,760,994
Diluted weighted average shares	155,102,885		168,123,813		189,054,289
Basic net income per share	$	3.89	$	3.33	$	4.50
Diluted net income per share	$	3.82	$	3.29	$	4.44

Acquisitions (Tables)

12 Months Ended

Mar. 31, 2018

Business Combinations [Abstract]

Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary purchase price allocation of fair values of the assets acquired and liabilities assumed at the date of acquisition (in millions):



	November 1, 2017
Cash and cash equivalents	$	34.3
Accounts receivable	30.7
Inventory ⁽¹⁾	126.2
Other current assets	63.9
Current assets	255.1
Property and equipment ⁽²⁾	51.0
Goodwill ⁽³⁾	684.9
Brand ⁽⁴⁾	577.8
Customer relationships ⁽⁵⁾	212.8
Lease rights	5.9
Deferred tax assets	22.5
Other assets	28.1
Total assets acquired	$	1,838.1

Accounts payable	$	129.3
Other current liabilities	96.5
Current liabilities	225.8
Deferred tax liabilities	134.9
Other liabilities	26.9
Total liabilities assumed	$	387.6

Less: Noncontrolling interest in joint ventures	$	3.1

Fair value of net assets acquired	$	1,447.4

Fair value of acquisition consideration	$	1,447.4


⁽¹⁾	Includes an inventory step-up adjustment of $9.5 million, which will be recognized as an adjustment to the Company’s cost of goods sold in its statement of operations over twelve months.


⁽²⁾	Includes a $7.0 million adjustment to reduce the fair value of Jimmy Choo’s leasehold improvements, which will be recognized over the remaining lease term.


⁽³⁾	Represents the difference between the purchase price over the net identifiable tangible and intangible assets acquired allocated to goodwill, which is not deductible for tax purposes.


⁽⁴⁾	Represents the fair value of Jimmy Choo’s brand, which is an indefinite-lived intangible asset due to being essential to the Company’s ability to operate the Jimmy Choo business for the foreseeable future. The Jimmy Choo brand was valued using the relief-from-royalty method of the income valuation approach.

⁽⁵⁾

Represents customer relationships associated with Jimmy Choo wholesale customers and geographic licensees, which are being amortized over 15 years and customer relationships with product licensees, which are being amortized over 18 years. These useful lives were estimated based on the time to recover the related future discounted cash flows. These intangible assets were valued using multi-period excess-earnings valuation method.

The following table summarizes the aggregate purchase price consideration paid to acquire Jimmy Choo in cash (in millions):



	November 1, 2017
Consideration paid to Jimmy Choo shareholders	$	1,181.2
Repayment of debt and related obligations	266.2
Total purchase price	$	1,447.4

Pro-Forma Results of Operations

The following table summarizes the unaudited pro-forma consolidated results of operations for the fiscal year ended April 1, 2017 as if the acquisition had occurred on March 29, 2015, the beginning of Fiscal 2016 (in millions):



	Fiscal Years Ended
	April 1, 2017		April 2, 2016
Pro-forma total revenue	$	4,520.1	$	4,839.1
Pro-forma net income	548.7		832.2
Pro-forma net income per ordinary share attributable to MKHL:
Basic	$	3.31	$	4.47
Diluted	$	3.26	$	4.40

The following table summarizes the unaudited pro-forma consolidated results of operations for the fiscal years ended March 31, 2018 and April 1, 2017 as if the acquisition had occurred on April 3, 2016, the beginning of Fiscal 2017 (in millions):



	Fiscal Years Ended
	March 31, 2018		April 1, 2017
Pro-forma total revenue	$	5,012.0	$	4,984.6
Pro-forma net income	623.2		553.9
Pro-forma net income per ordinary share attributable to MKHL:
Basic	$	4.09	$	3.34
Diluted	$	4.02	$	3.29

Receivables, net (Tables)

12 Months Ended

Mar. 31, 2018

Receivables [Abstract]

Receivables

Receivables, net consist of (in millions):



	March 31, 2018			April 1, 2017
Trade receivables:
Credit risk assumed by insured	$	296.2		$	294.0
Credit risk retained by Company	87.1			63.8
Receivables due from licensees	15.8			11.9
	399.1			369.7
Less: allowances	(108.6		)	(103.9		)
	$	290.5		$	265.8

Property and Equipment, Net (Tables)

12 Months Ended

Mar. 31, 2018

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

Property and equipment, net, consists of (in millions):



	March 31, 2018			April 1, 2017
Leasehold improvements	$	551.0		$	507.9
In-store shops	273.9			256.0
Furniture and fixtures	270.9			244.1
Computer equipment and software	266.3			226.2
Equipment	116.7			104.4
Building	51.6			40.6
Land	16.2			14.0
	1,546.6			1,393.2
Less: accumulated depreciation and amortization	(1,001.6		)	(833.9		)
	545.0			559.3
Construction-in-progress	38.2			32.2
	$	583.2		$	591.5

Intangible Assets and Goodwill (Tables)

12 Months Ended

Mar. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Carrying Values of Intangible Assets

The following table details the carrying values of the Company’s intangible assets other than goodwill (in millions):



	March 31, 2018						April 1, 2017
	Gross Carrying Amount		Accumulated Amortization ⁽¹⁾		Net		Gross Carrying Amount		Accumulated Amortization ⁽¹⁾		Net
Definite-lived intangible assets:
Reacquired rights	$	400.4	$	29.4	$	371.0	$	400.4	$	13.4	$	387.0
Trademarks	23.0		17.4		5.6		23.0		16.3		6.7
Lease rights	80.1		58.3		21.8		74.2		53.8		20.4
Customer relationships	231.3		8.1		223.2		5.0		1.0		4.0
	734.8		113.2		621.6		502.6		84.5		418.1

Indefinite-lived intangible assets:
Jimmy Choo brand	614.1		—		614.1		—		—		—

Total intangible assets, excluding goodwill	$	1,348.9	$	113.2	$	1,235.7	$	502.6	$	84.5	$	418.1

________________________________


⁽¹⁾	Includes $5.2 million and $30.2 million, respectively, of impairment charges recorded during Fiscal 2018 and Fiscal 2017 in connection with underperforming full-price retail stores. There were no impairment charges related to the Company’s amortized intangibles assets during Fiscal 2016. See Note 12 for additional information.

Estimated Amortization Expense

Estimated amortization expense for each of the next five years is as follows (in millions):



Fiscal 2019	$	34.4
Fiscal 2020	34.1
Fiscal 2021	34.0
Fiscal 2022	33.4
Fiscal 2023	32.5
Thereafter	453.2
	$	621.6

Changes in Goodwill for Reportable Segments

The following table details the changes in goodwill for each of the Company’s reportable segments (in millions):



	MK Retail		MK Wholesale		MK Licensing		Jimmy Choo		Total
Balance at April 1, 2017	$	91.9	$	25.9	$	1.9	$	—	$	119.7
Acquisition of Jimmy Choo	—		—		—		684.9		684.9
Foreign currency translation	—		—		—		43.1		43.1
Balance at March 31, 2018	$	91.9	$	25.9	$	1.9	$	728.0	$	847.7

Current Assets and Current Liabilities (Tables)

12 Months Ended

Mar. 31, 2018

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following (in millions):



	March 31, 2018		April 1, 2017
Prepaid taxes	$	78.5	$	56.6
Prepaid rent	22.7		21.7
Leasehold incentive receivable	9.4		12.0
Other	37.2		31.6
	$	147.8	$	121.9

Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the following (in millions):



	March 31, 2018		April 1, 2017
Other taxes payable	$	54.3	$	29.2
Restructuring liability	44.8		—
Accrued rent	34.5		21.5
Accrued capital expenditures	26.4		20.5
Accrued advertising and marketing	22.6		10.7
Gift cards and retail store credits	16.0		12.9
Professional services	14.1		7.1
Accrued interest	8.7		0.3
Unrealized loss on forward foreign exchange contracts	7.7		0.4
Deferred income	4.3		0.1
Advance royalties	4.1		5.0
Other	58.1		27.3
	$	295.6	$	135.0

Restructuring and Other Charges (Tables)

12 Months Ended

Mar. 31, 2018

Restructuring and Related Activities [Abstract]

Schedule of Restructuring Liability

The below table presents a summary of cash charges recorded in connection with this plan for the MK Retail segment and the Company’s remaining restructuring liability (in millions):



	Severance and benefit costs			Lease-related costs				Total
Balance as of April 1, 2017	$	—		$	—			$	—
Additions charged to expense	0.7			51.9			⁽¹⁾	52.6
Balance sheet reclassifications ⁽²⁾	—			12.2				12.2
Payments	(0.5		)	(19.5		)		(20.0		)
Balance as of March 31, 2018	$	0.2		$	44.6			$	44.8


⁽¹⁾	Includes losses on store lease exits of $29.0 million.


⁽²⁾	Primarily consists of reclassification of deferred rent balances for locations subject to closure to a restructuring liability.

Debt Obligations (Tables)

12 Months Ended

Mar. 31, 2018

Debt Disclosure [Abstract]

Schedule of Debt Obligations

The following table presents the Company’s debt obligations (in millions):



	March 31, 2018		April 1, 2017
Term Loan	$	229.8	$	—
4.000% Senior Notes due 2024	450.0		—
Revolving Credit Facilities	200.0		133.1
Other	0.9		—
Total debt	880.7		133.1
Less: Unamortized debt issuance costs	4.2		—
Less: Unamortized discount on long-term debt	2.1		—
Total carrying value of debt	874.4		133.1
Less: Short-term debt	200.0		133.1
Total long-term debt	$	674.4	$	—

Commitments and Contingencies Disclosure [Abstract]

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Commitments and Contingencies (Tables)

12 Months Ended

Mar. 31, 2018

Rent Expense for Operating Leases

Rent expense for the Company’s operating leases consists of the following (in millions):



	Fiscal Years Ended
	March 31, 2018		April 1, 2017		April 2, 2016
Minimum rentals	$	271.8	$	257.0	$	193.5
Contingent rent	80.4		75.5		64.4
Total rent expense	$	352.2	$	332.5	$	257.9

Future Minimum Lease Payments under Terms of Noncancelable Operating Lease Agreements

Future minimum lease payments under the terms of these noncancelable operating lease agreements are as follows (in millions):



Fiscal years ending:
2019	$	323.9
2020	299.3
2021	279.5
2022	251.2
2023	221.3
Thereafter	531.4
	$	1,906.6

Fair Value Measurements (Tables)

12 Months Ended

Mar. 31, 2018

Fair Value Disclosures [Abstract]

Contracts Measured and Recorded at Fair Value on Recurring and Categorized in Level 2 of Fair Value Hierarchy

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



	Fair value at March 31, 2018, using:						Fair value at April 1, 2017, using:
	Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Forward foreign currency exchange contracts - assets	$	—	$	—	$	—	$	—	$	4.7	$	—
Forward foreign currency exchange contracts - liabilities	$	—	$	7.7	$	—	$	—	$	0.4	$	—

Fair Value Measurement of Long-term Debt

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



	March 31, 2018				April 1, 2017
	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
4.000% Senior Notes	$	444.5	$	448.1	$	—	$	—
Term Loan	$	229.0	$	231.2	$	—	$	—
Revolving Credit Facilities	$	200.0	$	200.0	$	133.1	$	133.1

Carrying Value and Fair Values of Impaired Long-Lived Assets

The following table details the carrying values and fair values of the Company’s long-lived assets that have been impaired (in millions):



	Carrying Value Prior to Impairment		Fair Value		Impairment Charge
Fiscal 2018:
Lease Rights	$	4.7	$	0.5	$	4.2
Fixed Assets	30.5		3.0		27.5
Customer relationships	1.0		—		1.0
Total	$	36.2	$	3.5	$	32.7

Fiscal 2017:
Lease Rights	$	33.5	$	3.3	$	30.2
Fixed Assets	186.9		17.9		169.0
Total	$	220.4	$	21.2	$	199.2

Fiscal 2016:
Fixed Assets	$	10.9	$	—	$	10.9

Derivative Financial Instruments (Tables)

12 Months Ended

Mar. 31, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Derivative Contracts Recorded on Gross Basis in Consolidated Balance Sheets

The following table details the fair value of the Company’s derivative contracts, which are recorded on a gross basis in the consolidated balance sheets as of March 31, 2018 and April 1, 2017 (in millions):



					Fair Values
	Notional Amounts				Current Assets ⁽¹⁾				Current Liabilities ⁽²⁾
	March 31, 2018		April 1, 2017		March 31, 2018		April 1, 2017		March 31, 2018		April 1, 2017
Designated forward foreign currency exchange contracts	$	161.7	$	167.5	$	—	$	4.7	$	7.7	$	0.4
Total	$	161.7	$	167.5	$	—	$	4.7	$	7.7	$	0.4


⁽¹⁾	Recorded within prepaid expenses and other current assets in the Company’s audited consolidated balance sheets.


⁽²⁾	Recorded within accrued expenses and other current liabilities in the Company’s audited consolidated balance sheets.

Impact of Effective Portion of Gains and Losses of Forward Contracts Designated as Hedges

The following table summarizes the impact of the effective portion of gains and losses on the forward contracts designated as hedges (in millions):



	Fiscal Year Ended March 31, 2018						Fiscal Year Ended April 1, 2017				Fiscal Year Ended April 2, 2016
	Pre-Tax Loss Recognized in OCI			Pre-tax Loss Reclassified from Accumulated OCI into Earnings			Pre-Tax Gain Recognized in OCI		Pre-tax Gain Reclassified from Accumulated OCI into Earnings		Pre-Tax Loss Recognized in OCI			Pre-tax Gain Reclassified from Accumulated OCI into Earnings
Designated hedges	$	(22.4	)	$	(4.0	)	$	10.2	$	0.4	$	(25.2	)	$	10.9

Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Mar. 31, 2018

Stockholders' Equity Note [Abstract]

Changes in Components of Accumulated Other Comprehensive Loss, Net of Taxes

The following table details changes in the components of accumulated other comprehensive income (loss), net of taxes for Fiscal 2018, Fiscal 2017 and Fiscal 2016 (in millions):



	Foreign Currency Translation (Losses) Gains				Net Gains (Losses) on Derivatives ⁽¹⁾			Other Comprehensive (Loss)/Gain Attributable to MKHL			Other Comprehensive Income (Loss) Attributable to Noncontrolling Interest			Total Other Comprehensive (Loss) Income
Balance at March 28, 2015	$	(96.1	)		$	29.3		$	(66.8	)	$	—		$	(66.8	)
Other comprehensive income (loss) before reclassifications	18.4				(22.6		)	(4.2		)	0.1			(4.1		)
Less: amounts reclassified from AOCI to earnings ⁽²⁾	—				9.9			9.9			—			9.9
Other comprehensive income (loss), net of tax	18.4				(32.5		)	(14.1		)	0.1			(14.0		)
Balance at April 2, 2016	(77.7		)		(3.2		)	(80.9		)	0.1			(80.8		)
Other comprehensive (loss) income before reclassifications	(8.4		)	⁽³⁾	9.0			0.6			(0.4		)	0.2
Less: amounts reclassified from AOCI to earnings ⁽²⁾	—				0.3			0.3			—			0.3
Other comprehensive (loss) income, net of tax	(8.4		)		8.7			0.3			(0.4		)	(0.1		)
Balance at April 1, 2017	(86.1		)		5.5			(80.6		)	(0.3		)	(80.9		)
Other comprehensive (loss) income before reclassifications	147.3			⁽³⁾	(19.6		)	127.7			0.1			127.8
Less: amounts reclassified from AOCI to earnings ⁽²⁾	—				(3.4		)	(3.4		)	—			(3.4		)
Other comprehensive (loss) income, net of tax	147.3				(16.2		)	131.1			0.1			131.2
Balance at March 31, 2018	$	61.2			$	(10.7	)	$	50.5		$	(0.2	)	$	50.3

⁽¹⁾

Accumulated other comprehensive income related to net gains (losses) on derivative financial instruments is net of a tax provision (benefit) of $(1.4) million, $0.8 million, and $(0.3) million, respectively, as of March 31, 2018, April 1, 2017 and April 2, 2016. Other comprehensive income (loss) before reclassifications related to derivative instruments for Fiscal 2018, Fiscal 2017, and Fiscal 2016 is net of a tax provision (benefit) of $(2.8) million, $1.2 million, and $(2.6) million, respectively.

⁽²⁾

Reclassified amounts relate to the Company’s forward foreign currency exchange contracts for inventory purchases and are recorded within cost of goods sold in the Company’s consolidated statements of operations and comprehensive income. The amounts reclassified from other comprehensive income for Fiscal 2018 and Fiscal 2016 are net of a tax (benefit) provision of $(0.6) million and $1.0 million, respectively. Tax effect related to Fiscal 2017 was not material.


⁽³⁾	Foreign currency translation (losses) gains include net losses of $9.2 million and net gains of $2.4 million for Fiscal 2018 and Fiscal 2017, respectively, on intra-entity transactions that are of a long-term investment nature. Foreign currency translation gains for Fiscal 2018 also includes an $88.8 million translation gain relating to the newly acquired Jimmy Choo business.

Share-Based Compensation (Tables)

12 Months Ended

Mar. 31, 2018

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Option Activity and Information about Options Outstanding

The following table summarizes the share options activity during Fiscal 2018, and information about options outstanding at March 31, 2018:



	Number of Options		Weighted Average Exercise price		Weighted Average Remaining Contractual Life (years)	Aggregate Intrinsic Value (in millions)
Outstanding at April 1, 2017	4,791,045		$	28.55
Granted	208,264		$	34.68
Exercised	(1,116,857	)	$	12.34
Canceled/forfeited	(85,832	)	$	67.04
Outstanding at March 31, 2018	3,796,620		$	32.78	2.63	$	124.6
Vested or expected to vest at March 31, 2018	3,776,873		$	32.78	2.63
Vested and exercisable at March 31, 2018	3,132,123		$	29.28	2.19	$	112.8

Assumptions Used to Estimate Fair Value of Options

The following table represents assumptions used to estimate the fair value of options:



	Fiscal Years Ended
	March 31, 2018		April 1, 2017		April 2, 2016
Expected dividend yield	0.0	%	0.0	%	0.0	%
Volatility factor	36.3	%	30.1	%	31.1	%
Weighted average risk-free interest rate	1.8	%	1.1	%	1.6	%
Expected life of option	4.69 years		4.75 years		4.75 years

Restricted Shares and Restricted Share Units

The following table summarizes the RSU activity during Fiscal 2018:



	Service-based				Performance-based
	Number of Restricted Share Units		Weighted Average Grant Date Fair Value		Number of Restricted Share Units		Weighted Average Grant Date Fair Value
Unvested at April 1, 2017	1,470,767		$	48.39	401,777		$	58.50
Granted	1,390,454		$	38.57	363,848		$	51.56
Decrease due to performance condition	—		$	—	(12,891	)	$	92.93
Vested	(453,695	)	$	48.20	(95,202	)	$	84.95
Canceled/forfeited	(280,009	)	$	44.46	—		$	—
Unvested at March 31, 2018	2,127,517		$	42.53	657,532		$	50.16

The following table summarizes restricted share activity during Fiscal 2018:



	Restricted Shares
	Number of Unvested Restricted Shares		Weighted Average Grant Date Fair Value
Unvested at April 1, 2017	185,425		$	84.12
Granted	—		$	—
Vested	(114,121	)	$	79.97
Canceled/forfeited	(7,156	)	$	90.87
Unvested at March 31, 2018	64,148		$	90.75

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The following table summarizes compensation expense attributable to share-based compensation for Fiscal 2018, Fiscal 2017 and Fiscal 2016 (in millions):



	Fiscal Years Ended
	March 31, 2018		April 1, 2017		April 2, 2016
Share-based compensation expense	$	49.6	$	33.9	$	48.4
Tax benefits related to share-based compensation expense	$	9.7	$	11.2	$	15.7

Taxes (Tables)

12 Months Ended

Mar. 31, 2018

Income Tax Disclosure [Abstract]

Income Before Provision for Income Taxes

Income before provision for income taxes consisted of the following (in millions):



	Fiscal Years Ended
	March 31, 2018		April 1, 2017		April 2, 2016
U.S.	$	124.1	$	228.4	$	737.5
Non-U.S.	617.7		460.2		434.8
Total income before provision for income taxes	$	741.8	$	688.6	$	1,172.3

Provision for Income Taxes

The provision for income taxes was as follows (in millions):



	Fiscal Years Ended
	March 31, 2018			April 1, 2017			April 2, 2016
Current
U.S. Federal	$	47.6		$	131.2		$	268.0
U.S. State	15.6			20.4			14.3
Non-U.S.	77.4			45.8			54.2
Total current	140.6			197.4			336.5
Deferred
U.S. Federal	23.9			(34.1		)	0.3
U.S. State	0.9			(5.0		)	1.0
Non-U.S.	(15.7		)	(21.2		)	(3.2		)
Total deferred	9.1			(60.3		)	(1.9		)
Total provision for income taxes	$	149.7		$	137.1		$	334.6

Significant Differences Between the Statutory Tax Rates and Company's Effective Tax Rate

The Company’s provision for income taxes for the years ended March 31, 2018, April 1, 2017 and April 2, 2016 was different from the amount computed by applying statutory U.K. or U.S. federal income tax rates to the underlying income from continuing operations before income taxes and equity in net income of affiliates as a result of the following:



	Fiscal Years Ended
	March 31, 2018		April 1, 2017		April 2, 2016
Provision for income taxes at the U.K. (2018-2017), U.S. (2016) statutory tax rate	19.0	%	20.0	%	35.0	%
State and local income taxes, net of federal benefit	0.5	%	1.3	%	1.2	%
Effects of global financing arrangements	(15.6	)%	(13.7	)%	(2.8	)%
U.S. tax reform	2.0	%	—	%	—	%
Differences in tax effects on foreign income	6.7	%	11.1	%	(5.1	)%
Foreign tax credit	—	%	0.3	%	(0.2	)%
Liability for uncertain tax positions	6.6	%	—	%	—	%
Effect of changes in valuation allowances on deferred tax assets	0.3	%	0.5	%	(0.2	)%
Withholding tax	1.2	%	—	%	—	%
Other	(0.5	)%	0.4	%	0.6	%
Effective tax rate	20.2	%	19.9	%	28.5	%

Significant Components of Deferred Tax Assets (Liabilities)

Significant components of the Company’s deferred tax assets (liabilities) consist of the following (in millions):



	Fiscal Years Ended
	March 31, 2018			April 1, 2017
Deferred tax assets
Inventories	$	3.8		$	9.0
Payroll related accruals	1.6			2.2
Deferred rent	24.5			39.5
Net operating loss carryforwards	30.6			17.7
Stock compensation	16.8			26.2
Sales allowances	6.0			10.0
Other	27.0			14.7
	110.3			119.3
Valuation allowance	(13.8		)	(7.2		)
Total deferred tax assets	96.5			112.1

Deferred tax liabilities
Goodwill and intangibles	(240.6		)	(112.3		)
Depreciation	14.0			(2.7		)
Other	—			(3.8		)
Total deferred tax liabilities	(226.6		)	(118.8		)
Net deferred tax liabilities	$	(130.1	)	$	(6.7	)

Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits Excluding Accrued Interest

A reconciliation of the beginning and ending amounts of unrecognized tax benefits, excluding accrued interest, for Fiscal 2018, Fiscal 2017 and Fiscal 2016, are presented below (in millions):



	Fiscal Years Ended
	March 31, 2018					April 1, 2017			April 2, 2016
Unrecognized tax benefits beginning balance	$	26.5				$	16.8		$	19.9
Additions related to prior period tax positions	30.4			⁽¹	⁾	1.7			—
Additions related to current period tax positions	45.0					10.3			5.8
Decreases in prior period positions due to lapses in statute of limitations	(0.7		)			(2.3		)	(5.7		)
Decreases related to audit settlements	(0.4		)			—			(3.2		)
Unrecognized tax benefits ending balance	$	100.8				$	26.5		$	16.8


⁽¹⁾	Primarily relates to the Jimmy Choo acquisition.

Segment Information (Tables)

12 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

Key Performance Information of Reportable Segments

The following table presents the key performance information of the Company’s reportable segments (in millions):



	Fiscal Years Ended
	March 31, 2018			April 1, 2017		April 2, 2016
Total revenue:
MK Retail	$	2,711.8		$	2,572.1	$	2,394.9
MK Wholesale	1,639.3			1,775.8		2,143.9
MK Licensing	144.9			145.8		173.3
Michael Kors	4,496.0			4,493.7		4,712.1
Jimmy Choo	222.6			—		—
Total revenue	$	4,718.6		$	4,493.7	$	4,712.1

Income from operations:
MK Retail	$	333.8		$	159.8	$	501.4
MK Wholesale	373.8			468.1		584.1
MK Licensing	58.2			62.0		89.6
Michael Kors	765.8			689.9		1,175.1
Jimmy Choo	(16.7		)	—		—
Income from operations	$	749.1		$	689.9	$	1,175.1

Depreciation and Amortization Expense for Each Segment

Depreciation and amortization expense for each segment are as follows (in millions):



	Fiscal Years Ended
	March 31, 2018		April 1, 2017		April 2, 2016
Depreciation and amortization⁽¹⁾:
MK Retail	$	135.8	$	156.1	$	114.5
MK Wholesale	57.2		61.6		67.3
MK Licensing	2.4		2.1		1.4
Michael Kors	195.4		219.8		183.2
Jimmy Choo	13.2		—		—
Total depreciation and amortization	$	208.6	$	219.8	$	183.2


⁽¹⁾	Excluded from the above table are impairment charges, which are detailed in the below table and in Note 6, Note 7 and Note 12.

Impairment Charges by Asset Type

The following table presents the Company’s impairment charges by asset type (in millions):



	Fiscal Years Ended
	March 31, 2018		April 1, 2017		April 2, 2016
Impairment Charges:
MK Retail assets	$	31.3	$	198.7	$	8.6
MK Wholesale assets	1.4		0.5		0.4
Corporate assets	—		—		1.9
Total impairment	$	32.7	$	199.2	$	10.9

Total Revenue (as Recognized Based on Country of Origin)


⁽¹⁾	Net revenues earned in the U.S. during Fiscal 2018, Fiscal 2017, and Fiscal 2016 were $2.818 billion, $2.935 billion and $3.304 billion, respectively. Long-lived assets located in the U.S. as of March 31, 2018 and April 1, 2017 were $303.3 million and $328.8 million, respectively.

Total revenue (based on country of origin) and long-lived assets by geographic location are as follows (in millions):



	Fiscal Years Ended
	March 31, 2018		April 1, 2017		April 2, 2016
Revenue:
The Americas (U.S., Canada and Latin America)⁽¹⁾	$	3,033.2	$	3,140.7	$	3,506.6
EMEA	1,092.7		943.9		990.3
Asia	592.7		409.1		215.2
Total revenue	$	4,718.6	$	4,493.7	$	4,712.1

Long-Lived Assets by Geographic Location



	As of
	March 31, 2018		April 1, 2017		April 2, 2016
Long-lived assets:
The Americas (U.S., Canada and Latin America)⁽¹⁾	$	327.3	$	356.1	$	507.7
EMEA	1,050.3		197.7		284.2
Asia	441.3		455.8		33.7
Total Long-lived assets:	$	1,818.9	$	1,009.6	$	825.6


⁽¹⁾	Net revenues earned in the U.S. during Fiscal 2018, Fiscal 2017, and Fiscal 2016 were $2.818 billion, $2.935 billion and $3.304 billion, respectively. Long-lived assets located in the U.S. as of March 31, 2018 and April 1, 2017 were $303.3 million and $328.8 million, respectively.

Net Revenues by Major Product Category

by major product category are as follows (in millions):



	Fiscal Years Ended
	March 31, 2018		% of Total	April 1, 2017		% of Total		April 2, 2016		% of Total
Accessories	$	3,057.0	64.8%	$	3,061.4	68.1	%	$	3,179.7	67.5	%
Footwear	656.9		13.9%	462.0		10.3	%	491.0		10.4	%
Apparel	604.6		12.8%	543.2		12.1	%	543.7		11.5	%
Licensed product	249.7		5.3%	281.3		6.3	%	324.4		6.9	%
Licensing revenue	150.4		3.2%	145.8		3.2	%	173.3		3.7	%
Total Revenue	$	4,718.6		$	4,493.7			$	4,712.1

Selected Quarterly Financial Information (Unaudited) (Tables)

12 Months Ended

Mar. 31, 2018

Quarterly Financial Information Disclosure [Abstract]

Summary of Quarterly Results

The following table summarizes the Fiscal 2018 and Fiscal 2017 quarterly results (dollars in millions):



	Fiscal Quarter Ended ⁽¹⁾
	July 1, 2017		September 30, 2017			December 30, 2017			March 31, 2018
Fiscal 2018
Total revenue	$	952.4	$	1,146.6		$	1,440.1		$	1,179.5
Gross profit	$	574.7	$	690.8		$	884.0		$	709.8
Income from operations	$	149.4	$	199.1	⁽²⁾	$	313.5	⁽³⁾	$	87.1		⁽⁴⁾
Net income	$	125.5	$	202.7		$	219.4		$	44.5
Net income attributable to MKHL	$	125.5	$	202.9		$	219.4		$	44.1
Weighted average ordinary shares outstanding:
Basic	154,486,898		151,781,340			152,047,963			150,818,144
Diluted	156,871,518		154,168,094			154,623,339			154,252,751

	Fiscal Quarter Ended ⁽¹⁾
	July 2, 2016		October 1, 2016			December 31, 2016			April 1, 2017
Fiscal 2017
Total revenue	$	987.9	$	1,088.2		$	1,352.8		$	1,064.8
Gross profit	$	591.3	$	644.7		$	805.7		$	619.7
Income (loss) from operations⁽⁵⁾	$	186.9	$	203.7		$	341.9		$	(42.6	)
Net income (loss)	$	146.3	$	160.7		$	271.3		$	(26.8	)
Net income (loss) attributable to MKHL	$	147.1	$	160.9		$	271.3		$	(26.8	)
Weighted average ordinary shares outstanding:
Basic	174,158,571		166,695,631			163,148,597			159,944,132
Diluted	176,613,751		168,839,967			165,214,045			161,827,486


⁽¹⁾	All fiscal quarters presented contain 13 weeks.


⁽²⁾	Fiscal quarter ended September 30, 2017 includes impairment charges of $16.3 million and restructuring charges of $5.9 million associated with underperforming Michael Kors full-price retail stores, as well as transaction and transition costs of $17.4 million related to the Jimmy Choo acquisition.


⁽³⁾	Fiscal quarter ended December 30, 2017 includes impairment charges of $2.6 million and restructuring charges of $2.4 million associated with underperforming Michael Kors full-price retail stores, as well as transaction and transition costs of $25.6 million related to the Jimmy Choo acquisition.


⁽⁴⁾	Fiscal quarter ended March 31, 2018 includes impairment charges of $13.8 million and restructuring charges of $44.3 million associated with underperforming Michael Kors full-price retail stores, as well as transaction and transition costs of $6.5 million related to the Jimmy Choo acquisition.

⁽⁵⁾

Fiscal quarter ended July 2, 2016 contains $11.3 million in transaction costs related to the acquisition of the previously licensed Greater China business; fiscal quarter ended October 1, 2016 contains $4.9 million in retail fixed asset impairment charges; fiscal quarter ended December 31, 2016 contains $0.5 million in wholesale fixed asset impairment charges; and fiscal quarter ended April 1, 2017 contains $193.8 million in retail long-lived asset impairment charges.

Business and Basis of Presentation (Details) - segment	9 Months Ended	12 Months Ended
Business and Basis of Presentation (Details) - segment	Dec. 30, 2017	Mar. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments	3	4

Summary of Significant Accounting Policies - Activity and Balances of Sales Reserves (Details) - Allowance for sales returns - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
MK Retail assets
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance Beginning of Year	$ 7.3	$ 4.7	$ 2.5
Amounts Charged to Revenue	160.7	102.4	71.7
Write-offs Against Reserves	(155.9)	(99.8)	(69.5)
Balance at Year End	12.1	7.3	4.7
MK Wholesale
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance Beginning of Year	96.7	110.9	87.5
Amounts Charged to Revenue	257.7	271.1	348.4
Write-offs Against Reserves	(245.8)	(285.3)	(325.0)
Balance at Year End	$ 108.6	$ 96.7	$ 110.9

Summary of Significant Accounting Policies - Additional Information (Details)

3 Months Ended

12 Months Ended

Mar. 31, 2018

USD ($)

Dec. 30, 2017

USD ($)

Sep. 30, 2017

USD ($)

Mar. 31, 2018

USD ($)

shares

Apr. 01, 2017

USD ($)

shares

Apr. 02, 2016

USD ($)

shares

Jul. 25, 2017

GBP (£)

Reclassification of transaction and transition costs out of SG&A into Restructuring

$ 44,300,000

$ 2,400,000

$ 5,900,000

$ 102,100,000

^[1]

$ 11,300,000

^[1]

$ 0

^[1]

1,766,800,000

1,541,200,000

1,428,000,000

Advertising and marketing expense

167,100,000

118,700,000

103,900,000

Cooperative advertising expenses

6,300,000

5,400,000

7,400,000

Shipping and handling costs

107,600,000

102,100,000

98,600,000

Credit card receivables

21,200,000

13,900,000

Restricted cash

300,000

1,900,000

Goodwill impairment charges

$ 0

0

$ 0

Proceeds from insurance settlement

$ 3,800,000

Anti-dilutive securities excluded from computation of earning per share (in shares) | shares

1,662,889

2,034,658

2,255,271

Excess tax benefits from share-based compensation

$ 7,300,000

ASU 2016-09

$ 6,600,000

$ 21,100,000

(6,600,000)

Maximum

Forward contracts term, maximum

12 months

Trademarks

Customer relationships | Minimum

Amortization period

20 years

Customer relationships | Maximum

Amortization period

5 years

Equipment, furniture and fixtures | Minimum

Amortization period

18 years

Equipment, furniture and fixtures | Maximum

5 years

Computer hardware and software | Minimum

7 years

Computer hardware and software | Maximum

3 years

5 years

In-store shops | Minimum

3 years

In-store shops | Maximum

4 years

Software development

Greater China business | Restatement Adjustment

5 years

Reclassification of transaction and transition costs out of SG&A into Restructuring

11,300,000

(11,300,000)

Foreign Exchange Forward

Not Designated as Hedging Instrument | Foreign Exchange Forward

Notional Amounts

$ 161,700,000

167,500,000

Not Designated as Hedging Instrument | Foreign Currency Gain (Loss) | Foreign Exchange Forward

Notional Amounts | £

£ 1,115,000,000.000

Gain on derivative recognized

3,400,000

$ 2,600,000

$ (2,100,000)

Not Designated as Hedging Instrument | Foreign Currency Gain (Loss) | Foreign Exchange Forward | Jimmy Cho PLC

Gain on derivative recognized

$ 4,700,000

[1]

Restructuring and other charges includes store closure costs recorded in connection with the Retail Fleet Optimization Plan, as well as transaction and transition costs recorded in connection with the acquisitions of Jimmy Choo Group Limited (formerly known as Jimmy Choo PLC) and Michael Kors (HK) Limited and Subsidiaries (see Note 3 and Note 9).

Summary of Significant Accounting Policies - Components of Calculation of Basic Net Income Per Ordinary Share and Diluted Net Income Per Ordinary Share (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Mar. 31, 2018	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 31, 2016	Oct. 01, 2016	Jul. 02, 2016	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
Numerator:
Net income attributable to MKHL	$ 44.1	$ 219.4	$ 202.9	$ 125.5	$ (26.8)	$ 271.3	$ 160.9	$ 147.1	$ 591.9	$ 552.5	$ 839.1
Denominator:
Basic weighted average shares (in shares)	150,818,144	152,047,963	151,781,340	154,486,898	159,944,132	163,148,597	166,695,631	174,158,571	152,283,586	165,986,733	186,293,295
Weighted average dilutive share equivalents:
Share options and restricted shares/units, and performance restricted share units (in shares)									2,819,299	2,137,080	2,760,994
Diluted weighted average shares (in shares)	154,252,751	154,623,339	154,168,094	156,871,518	161,827,486	165,214,045	168,839,967	176,613,751	155,102,885	168,123,813	189,054,289
Basic net income per share (in dollars per share)									$ 3.89	$ 3.33	$ 4.50
Diluted net income per share (in dollars per share)									$ 3.82	$ 3.29	$ 4.44

Acquisitions - Additional Information (Details)				3 Months Ended									5 Months Ended	10 Months Ended	12 Months Ended
Acquisitions - Additional Information (Details)	Nov. 01, 2017 USD ($)	May 31, 2016 USD ($)	Jan. 01, 2016 USD ($)	Mar. 31, 2018 USD ($)	Dec. 30, 2017 USD ($)	Sep. 30, 2017 USD ($)	Jul. 01, 2017 USD ($)	Apr. 01, 2017 USD ($)	Dec. 31, 2016 USD ($)	Oct. 01, 2016 USD ($)	Jul. 02, 2016 USD ($)	Sep. 26, 2015 USD ($)	Mar. 31, 2018 USD ($)	Apr. 01, 2017 USD ($)	Mar. 31, 2018 USD ($)	Apr. 01, 2017 USD ($)	Apr. 02, 2016 USD ($)	Nov. 01, 2017 £ / shares
Business Acquisition [Line Items]
Total revenue				$ 1,179,500,000	$ 1,440,100,000	$ 1,146,600,000	$ 952,400,000	$ 1,064,800,000	$ 1,352,800,000	$ 1,088,200,000	$ 987,900,000				$ 4,718,600,000	$ 4,493,700,000	$ 4,712,100,000
Net loss from date of acquisition				$ (44,100,000)	$ (219,400,000)	$ (202,900,000)	(125,500,000)	$ 26,800,000	$ (271,300,000)	$ (160,900,000)	(147,100,000)				(591,900,000)	(552,500,000)	(839,100,000)
Gain on acquisition															0	0	3,700,000
Jimmy Choo
Business Acquisition [Line Items]
Total revenue													$ 222,600,000		222,600,000	0	$ 0
Net loss from date of acquisition													$ 14,500,000
Jimmy Cho PLC
Business Acquisition [Line Items]
Total transaction value in a business acquisition	$ 1,447,400,000
Acquisition-related costs															40,600,000
Consideration paid	1,181,200,000
Michael Kors (HK) Limited
Business Acquisition [Line Items]
Acquisition-related costs											$ 11,300,000					$ 11,300,000
Voting interest acquired (as a percent)		100.00%
Consideration paid		$ 500,000,000
Revenue of acquiree since acquisition date														$ 212,400,000	306,200,000
Income (loss) of acquiree since acquisition date														$ (10,600,000)	$ 13,500,000
MK Korea Acquisition
Business Acquisition [Line Items]
Consideration paid			$ 3,600,000
Gain on acquisition			$ 3,700,000
MK Panama Acquisition
Business Acquisition [Line Items]
Total transaction value in a business acquisition							$ 500,000					$ 18,500,000
Equity interest percentage in acquiree				75.00%								75.00%	75.00%		75.00%
Consideration paid												$ 3,000,000
Business combination, liabilities eliminated												$ 15,500,000
Unsecured Debt \| Term Loan Facility
Business Acquisition [Line Items]
Aggregate principal amount	1,000,000,000.000
Subsidiaries \| Michael Kors Bidco \| Jimmy Cho PLC
Business Acquisition [Line Items]
Purchase price per share (in gbp per share) \| £ / shares																		£ 2.30
Total transaction value in a business acquisition	$ 1,447,000,000

Acquisitions - Schedule of Consideration Paid (Details) - Jimmy Cho PLC $ in Millions	Nov. 01, 2017 USD ($)
Business Acquisition [Line Items]
Consideration paid	$ 1,181.2
Repayment of debt and related obligations	266.2
Total purchase price	$ 1,447.4

Acquisitions - Preliminary Estimated Fair Values of Assets Acquired and Liabilities Assumed (Details) (Details) - USD ($) $ in Millions	Nov. 01, 2017	Mar. 31, 2018	Apr. 01, 2017
Business Acquisition [Line Items]
Goodwill		$ 847.7	$ 119.7
Jimmy Cho PLC
Business Acquisition [Line Items]
Cash and cash equivalents	$ 34.3
Accounts receivable	30.7
Inventory	126.2
Other current assets	63.9
Current assets	255.1
Property and equipment	51.0
Goodwill	684.9
Deferred tax assets	22.5
Other assets	28.1
Total assets acquired	1,838.1
Accounts payable	129.3
Other current liabilities	96.5
Current liabilities	225.8
Deferred tax liabilities	134.9
Other liabilities	26.9
Total liabilities assumed	387.6
Non-controlling interest	3.1
Fair value of net assets acquired	1,447.4
Fair value of acquisition consideration	1,447.4
Inventory step-up adjustment	9.5
Adjustment to leasehold improvements	7.0
Jimmy Cho PLC \| Customer relationships
Business Acquisition [Line Items]
Intangible assets	212.8
Jimmy Cho PLC \| Lease rights
Business Acquisition [Line Items]
Intangible assets	$ 5.9
Jimmy Cho PLC \| Customer relationships - wholesale and geographic
Business Acquisition [Line Items]
Amortization period	15 years
Jimmy Cho PLC \| Customer relationships - product licenses
Business Acquisition [Line Items]
Amortization period	18 years
Jimmy Cho PLC \| Brand
Business Acquisition [Line Items]
Intangible assets	$ 577.8

Acquisitions - Pro-Forma Consolidated Results of Operations (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
Jimmy Cho PLC
Business Acquisition [Line Items]
Pro-forma total revenue	$ 5,012.0	$ 4,984.6
Pro-forma net income	$ 623.2	$ 553.9
Pro-forma net income per ordinary share attributable to MKHL:
Basic (dollars per share)	$ 4.09	$ 3.34
Diluted (dollars per share)	$ 4.02	$ 3.29
Michael Kors (HK) Limited
Business Acquisition [Line Items]
Pro-forma total revenue		$ 4,520.1	$ 4,839.1
Pro-forma net income		$ 548.7	$ 832.2
Pro-forma net income per ordinary share attributable to MKHL:
Basic (dollars per share)		$ 3.31	$ 4.47
Diluted (dollars per share)		$ 3.26	$ 4.40

Receivables, net - Schedule of Receivables (Details) - USD ($) $ in Millions	Mar. 31, 2018	Apr. 01, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade receivables	$ 399.1	$ 369.7
Receivables due from licensees	15.8	11.9
Less: allowances	(108.6)	(103.9)
Receivables, net	290.5	265.8
Credit risk assumed by insured
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade receivables	296.2	294.0
Credit risk retained by Company
Accounts, Notes, Loans and Financing Receivable [Line Items]
Trade receivables	$ 87.1	$ 63.8

Receivables, net - Additional Information (Details) - USD ($) $ in Millions	Mar. 31, 2018	Apr. 01, 2017
Receivables [Abstract]
Allowance for doubtful accounts	$ 5.1	$ 0.9

Concentration of Credit Risk, Major Customers and Suppliers (Details)	5 Months Ended	12 Months Ended
	Mar. 31, 2018	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
Net sales \| Customer Concentration Risk \| Macy's
Concentration Risk [Line Items]
Concentration risk (as a percent)		7.80%	8.90%	12.70%
Finished goods \| Supplier Concentration Risk \| Agent
Concentration Risk [Line Items]
Concentration risk (as a percent)		23.90%	21.80%	23.20%
Finished goods \| Supplier Concentration Risk \| Contractor
Concentration Risk [Line Items]
Concentration risk (as a percent)		19.90%	23.20%	21.20%
Finished goods \| Supplier Concentration Risk \| Contractor \| Jimmy Choo
Concentration Risk [Line Items]
Concentration risk (as a percent)	16.00%

Property and Equipment, Net - Schedule of Property and Equipment (Details) - USD ($) $ in Millions	Mar. 31, 2018	Apr. 01, 2017
Property, Plant and Equipment [Abstract]
Leasehold improvements	$ 551.0	$ 507.9
In-store shops	273.9	256.0
Furniture and fixtures	270.9	244.1
Computer equipment and software	266.3	226.2
Equipment	116.7	104.4
Building	51.6	40.6
Land	16.2	14.0
Property, plant and equipment, gross	1,546.6	1,393.2
Less: accumulated depreciation and amortization	(1,001.6)	(833.9)
Subtotal	545.0	559.3
Construction-in-progress	38.2	32.2
Property and equipment, net	$ 583.2	$ 591.5

Property and Equipment, Net - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
Property, Plant and Equipment [Abstract]
Depreciation and amortization of property and equipment	$ 182.3	$ 197.7	$ 172.2
Property, Plant and Equipment [Line Items]
Impairment charges	27.5	$ 169.0	$ 10.9
MK Retail assets
Property, Plant and Equipment [Line Items]
Impairment charges	26.1
MK Wholesale
Property, Plant and Equipment [Line Items]
Impairment charges	$ 1.4

Intangible Assets and Goodwill - Carrying Values of Intangible Assets (Details) - USD ($)	12 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 734,800,000	$ 502,600,000
Accumulated Amortization	113,200,000	84,500,000
Net	621,600,000	418,100,000
Jimmy Choo brand	614,100,000	0
Total intangible assets, excluding goodwill, gross carrying amount	1,348,900,000	502,600,000
Total intangible assets, excluding goodwill, net	1,235,700,000	418,100,000
Impairment charges	5,200,000	30,200,000	$ 0
Reacquired rights
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	400,400,000	400,400,000
Accumulated Amortization	29,400,000	13,400,000
Net	371,000,000	387,000,000
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	23,000,000	23,000,000
Accumulated Amortization	17,400,000	16,300,000
Net	5,600,000	6,700,000
Lease rights
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	80,100,000	74,200,000
Accumulated Amortization	58,300,000	53,800,000
Net	21,800,000	20,400,000
Impairment charges	4,200,000	30,200,000
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	231,300,000	5,000,000
Accumulated Amortization	8,100,000	1,000,000
Net	223,200,000	$ 4,000,000
Impairment charges	$ 1,000,000

Intangible Assets and Goodwill - Additional Information (Details) - USD ($)	12 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
Intangible Assets And Goodwill [Line Items]
Amortization expense	$ 26,300,000	$ 22,100,000	$ 11,000,000
Goodwill impairment charges	$ 0	$ 0	$ 0
Trademarks
Intangible Assets And Goodwill [Line Items]
Intangible asset, useful life	20 years
Weighted average useful life	4 years 9 months 5 days
Customer relationships
Intangible Assets And Goodwill [Line Items]
Weighted average useful life	16 years 10 months 21 days
Customer relationships \| Minimum
Intangible Assets And Goodwill [Line Items]
Intangible asset, useful life	5 years
Customer relationships \| Maximum
Intangible Assets And Goodwill [Line Items]
Intangible asset, useful life	18 years
Reacquired rights
Intangible Assets And Goodwill [Line Items]
Weighted average useful life	23 years
Lease rights
Intangible Assets And Goodwill [Line Items]
Weighted average useful life	7 years

Intangible Assets and Goodwill - Estimated Amortization Expense (Details) - USD ($) $ in Millions	Mar. 31, 2018	Apr. 01, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Fiscal 2019	$ 34.4
Fiscal 2020	34.1
Fiscal 2021	34.0
Fiscal 2022	33.4
Fiscal 2023	32.5
Thereafter	453.2
Net	$ 621.6	$ 418.1

Intangible Assets and Goodwill - Changes in Goodwill for Reportable Segments (Details) $ in Millions	12 Months Ended
	Mar. 31, 2018 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 119.7
Acquisition of Jimmy Choo	684.9
Foreign currency translation	43.1
Ending balance	847.7
MK Retail assets
Goodwill [Roll Forward]
Beginning balance	91.9
Acquisition of Jimmy Choo	0.0
Foreign currency translation	0.0
Ending balance	91.9
MK Wholesale
Goodwill [Roll Forward]
Beginning balance	25.9
Acquisition of Jimmy Choo	0.0
Foreign currency translation	0.0
Ending balance	25.9
MK Licensing
Goodwill [Roll Forward]
Beginning balance	1.9
Acquisition of Jimmy Choo	0.0
Foreign currency translation	0.0
Ending balance	1.9
Jimmy Choo
Goodwill [Roll Forward]
Beginning balance	0.0
Acquisition of Jimmy Choo	684.9
Foreign currency translation	43.1
Ending balance	$ 728.0

Current Assets and Current Liabilities - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Millions	Mar. 31, 2018	Apr. 01, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Prepaid taxes	$ 78.5	$ 56.6
Prepaid rent	22.7	21.7
Leasehold incentive receivable	9.4	12.0
Other	37.2	31.6
Prepaid expenses and other current assets	$ 147.8	$ 121.9

Current Assets and Current Liabilities - Accrued Expenses and Other Current Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2018	Apr. 01, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Other taxes payable	$ 54.3	$ 29.2
Restructuring liability	44.8	0.0
Accrued rent	34.5	21.5
Accrued capital expenditures	26.4	20.5
Accrued advertising and marketing	22.6	10.7
Gift cards and retail store credits	16.0	12.9
Professional services	14.1	7.1
Accrued interest	8.7	0.3
Unrealized loss on forward foreign exchange contracts	7.7	0.4
Deferred income	4.3	0.1
Advance royalties	4.1	5.0
Other	58.1	27.3
Accrued expenses and other current liabilities	$ 295.6	$ 135.0

Restructuring and Other Charges - Additional Information (Details)
$ in Millions

3 Months Ended

12 Months Ended

May 31, 2017

USD ($)

Store

Mar. 31, 2018

USD ($)

Dec. 30, 2017

USD ($)

Sep. 30, 2017

USD ($)

Jul. 02, 2016

USD ($)

Mar. 31, 2018

USD ($)

Store

Apr. 01, 2017

USD ($)

Apr. 02, 2016

USD ($)

^[1]

Retail Fleet Optimization Plan

$ 44.3

$ 2.4

$ 5.9

$ 102.1

^[1]

$ 11.3

^[1]

$ 0.0

Expected duration of restructuring plan

2 years

Anticipated annual savings

$ 60.0

Number of stores closed | Store

47

$ 52.6

Jimmy Cho PLC

40.6

Transition related costs

$ 8.9

Greater China business

Minimum | Retail Fleet Optimization Plan

$ 11.3

Number of stores expected to close | Store

100

Restructuring charges

$ 100.0

Maximum | Retail Fleet Optimization Plan

Number of stores expected to close | Store

125

Restructuring charges

$ 125.0

[1]

Restructuring and other charges includes store closure costs recorded in connection with the Retail Fleet Optimization Plan, as well as transaction and transition costs recorded in connection with the acquisitions of Jimmy Choo Group Limited (formerly known as Jimmy Choo PLC) and Michael Kors (HK) Limited and Subsidiaries (see Note 3 and Note 9).

Restructuring and Other Charges - Schedule of Restructuring Liability (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Mar. 31, 2018

Dec. 30, 2017

Sep. 30, 2017

Mar. 31, 2018

Apr. 01, 2017

Apr. 02, 2016

Loss on retail store subleases

$ 44.3

$ 2.4

$ 5.9

$ 102.1

^[1]

$ 11.3

^[1]

$ 0.0

^[1]

29.0

0.0

$ 0.0

Retail Fleet Optimization Plan

Balance as of April 1, 2017

0.0

Balance sheet reclassifications

52.6

12.2

Payments

(20.0)

Balance as of March 31, 2018

44.8

0.0

Retail Fleet Optimization Plan | Severance and benefit costs

Balance as of April 1, 2017

0.0

Balance sheet reclassifications

0.7

0.0

Payments

(0.5)

Balance as of March 31, 2018

0.2

0.0

Retail Fleet Optimization Plan | Lease-related costs

Balance as of April 1, 2017

0.0

Balance sheet reclassifications

51.9

12.2

Payments

(19.5)

Balance as of March 31, 2018

$ 44.6

44.6

$ 0.0

Loss on retail store subleases

$ 29.0

[1]

Restructuring and other charges includes store closure costs recorded in connection with the Retail Fleet Optimization Plan, as well as transaction and transition costs recorded in connection with the acquisitions of Jimmy Choo Group Limited (formerly known as Jimmy Choo PLC) and Michael Kors (HK) Limited and Subsidiaries (see Note 3 and Note 9).

Debt Obligations - Schedule of Debt Obligations (Details) - USD ($) $ in Millions	Mar. 31, 2018	Apr. 01, 2017
Debt Instrument [Line Items]
Total debt	$ 880.7	$ 133.1
Less: Unamortized debt issuance costs	4.2	0.0
Less: Unamortized discount on long-term debt	2.1	0.0
Total carrying value of debt	874.4	133.1
Less: Short-term debt	200.0	133.1
Total long-term debt	674.4	0.0
Term Loan
Debt Instrument [Line Items]
Total debt	229.8	0.0
4.000% Senior Notes due 2024
Debt Instrument [Line Items]
Total debt	450.0	0.0
Revolving Credit Facilities
Debt Instrument [Line Items]
Total debt	200.0	133.1
Other
Debt Instrument [Line Items]
Total debt	$ 0.9	$ 0.0

Debt Obligations - Bridge Credit Agreement (Details) £ in Millions	Oct. 20, 2017 USD ($)	Sep. 30, 2017 GBP (£)	Jul. 25, 2017 GBP (£)
Term Loan Facility
Debt Instrument [Line Items]
Bridge Loan \| £		£ 344.2	£ 1,115.0
4.00% Senior Notes, Maturity 2024 \| 4.000% Senior Notes due 2024
Debt Instrument [Line Items]
Aggregate principal amount \| $	$ 450,000,000.0
Stated interest rate	4.00%

Debt Obligations - Senior Unsecured Revolving Credit Facility (Details)		2 Months Ended	12 Months Ended
	Aug. 22, 2017 USD ($) Tranche	May 30, 2018 USD ($)	Mar. 31, 2018 USD ($)	Apr. 01, 2017 USD ($)	Apr. 02, 2016 USD ($)	Nov. 01, 2017 USD ($)
Line of Credit Facility [Line Items]
Long-term debt			$ 874,400,000	$ 133,100,000
Repayments of debt			1,783,200,000	1,093,800,000	$ 199,800,000
Stand by letter of credit issued			20,300,000
Senior Unsecured Revolving Credit Facility \| Federal Funds Effective Rate
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Senior Unsecured Revolving Credit Facility \| Adjusted LIBOR
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Senior Unsecured Revolving Credit Facility \| One-Month CDOR
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Senior Unsecured Revolving Credit Facility \| CDOR
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	0.10%
2017 Credit Facility
Line of Credit Facility [Line Items]
Stand by letter of credit issued			15,900,000
2017 Credit Facility \| Standby Letters of Credit
Line of Credit Facility [Line Items]
Stand by letter of credit issued			15,900,000
Revolving Credit Facilities \| 2017 Credit Facility \| Senior Unsecured Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, initiation date	Aug. 22, 2017
Line of credit facility, maximum borrowing capacity	$ 1,000,000,000
Secured revolving credit facility, expiration date	Aug. 22, 2022
Leverage ratio of indebtedness to EBITDAR	3.5
Line of credit, current obligations			200,000,000
Line of credit facility, available for future borrowings			784,100,000.0
Revolving Credit Facilities \| 2017 Credit Facility \| Letter of Credit
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 75,000,000
Revolving Credit Facilities \| 2017 Credit Facility \| Bridge Loan
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 50,000,000
Revolving Credit Facilities \| 2015 Credit Facility \| Senior Unsecured Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit, current obligations				$ 127,300,000
Unsecured Debt \| Term Loan Facility
Line of Credit Facility [Line Items]
Aggregate principal amount						$ 1,000,000,000.000
Number of loan tranches \| Tranche	2
Additional borrowing capacity	$ 500,000,000.0
Periodic payment percentage of the principal amount	2.50%
Long-term debt			$ 229,000,000
Unsecured Debt \| Term Loan Facility \| Subsequent event
Line of Credit Facility [Line Items]
Repayments of debt		$ 90,000,000
Unsecured Debt \| Maturity on third anniversary \| Term Loan Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 600,000,000.0
Unsecured Debt \| Maturity on fifth anniversary \| Term Loan Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 400,000,000.0

Debt Obligations - Senior Notes (Details) - USD ($)	Oct. 20, 2017	Mar. 31, 2018	Apr. 01, 2017
Debt Instrument [Line Items]
Long-term debt		$ 874,400,000	$ 133,100,000
4.000% Senior Notes due 2024 \| 4.00% Senior Notes, Maturity 2024
Debt Instrument [Line Items]
Aggregate principal amount	$ 450,000,000.0
Stated interest rate	4.00%
Debt issuance price as percentage of principal amount	99.508%
Long-term debt		$ 444,500,000
4.000% Senior Notes due 2024 \| 4.00% Senior Notes, Maturity 2024 \| Anytime
Debt Instrument [Line Items]
Debt redemption price as a percentage	100.00%
4.000% Senior Notes due 2024 \| 4.00% Senior Notes, Maturity 2024 \| Anytime \| Treasury Rate
Debt Instrument [Line Items]
Make whole redemption, basis spread on variable rate	0.30%
4.000% Senior Notes due 2024 \| 4.00% Senior Notes, Maturity 2024 \| Change of control event
Debt Instrument [Line Items]
Debt redemption price as a percentage	101.00%

Debt Obligations - Japan and Hong Kong Credit Facility (Details) - Revolving Credit Facilities	1 Months Ended	12 Months Ended
	Nov. 30, 2017 USD ($)	Mar. 31, 2018 USD ($)	Mar. 31, 2018 HKD ($)	Nov. 30, 2017 JPY (¥)	Nov. 30, 2017 HKD ($)	Apr. 01, 2017 USD ($)	Apr. 01, 2017 HKD ($)
Japan Credit Facility \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 9,400,000			¥ 1,000,000,000.0
Line of credit, current obligations		$ 0
Japan Credit Facility \| Bank Rate Two Days Prior \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate	0.30%
HK Credit Facility \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 12,700,000				$ 100,000,000.0
Line of credit, current obligations		0				$ 5,800,000	$ 45,000,000
Minimum commitment, amount					5,000,000
Line of credit facility, available for future borrowings		$ 11,200,000	$ 88,200,000
HK Credit Facility \| Business Card Facility
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 100,000				$ 400,000.0
HK Credit Facility \| HIBOR \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt instrument, basis spread on variable rate		1.50%
HK Credit Facility, Bank Guarantees \| Revolving Credit Facility
Line of Credit Facility [Line Items]
Bank guarantees supported by facility		$ 1,500,000	$ 11,800,000

Debt Obligations - Other (Details) $ in Millions	Mar. 31, 2018 USD ($)
Line of Credit Facility [Line Items]
Stand by letter of credit issued	$ 20.3
Property lease guarantee
Line of Credit Facility [Line Items]
Stand by letter of credit issued	$ 4.4

Commitments and Contingencies - Rent Expense for Operating Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
Commitments and Contingencies Disclosure [Abstract]
Minimum rentals	$ 271.8	$ 257.0	$ 193.5
Contingent rent	80.4	75.5	64.4
Total rent expense	$ 352.2	$ 332.5	$ 257.9

The increases or decreases in lease payments that result from changes occurring after the inception of the lease in the factors (other than the passage of time) on which lease payments are based, except that any escalation of minimum lease payments relating to increases in construction or acquisition cost of the leased property or for increases in some measure of cost or value during the construction or preconstruction period, are excluded from contingent rentals. Contingent rentals also may include amounts for which the triggering events have not yet occurred or the specified targets for which have not yet been achieved (such as sales based percentage rent), but which events are considered probable of occurring or which specified targets are considered probable of being achieved.

Income (loss) from operations

Commitments and Contingencies - Future Minimum Lease Payments under Terms of Noncancelable Operating Lease Agreements (Details) $ in Millions	Mar. 31, 2018 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2019	$ 323.9
2020	299.3
2021	279.5
2022	251.2
2023	221.3
Thereafter	531.4
Operating leases, future minimum payments due, total	$ 1,906.6

Commitments and Contingencies - Additional Information (Details) $ in Thousands	12 Months Ended
	Mar. 31, 2018 USD ($)
Commitments and Letters of Credit [Line Items]
Lease expiration date	2043-09
Future noncancelable sublease rental income	$ 11,800
Stand by letter of credit issued	20,300
Other contractual commitments	1,731,000
Long term employment commitment amount	1,350
Inventory purchase commitments
Commitments and Letters of Credit [Line Items]
Other contractual commitments	750,600
Debt obligations
Commitments and Letters of Credit [Line Items]
Other contractual commitments	874,400
Other contractual obligation
Commitments and Letters of Credit [Line Items]
Other contractual commitments	106,400
2017 Credit Facility
Commitments and Letters of Credit [Line Items]
Stand by letter of credit issued	$ 15,900

Fair Value Measurements - Contracts Measured and Recorded at Fair Value on Recurring and Categorized in Level 2 of Fair Value Hierarchy (Details) - Foreign Exchange Forward - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Mar. 31, 2018	Apr. 01, 2017
Quoted prices in active markets for identical assets (Level 1)
Derivatives, Fair Value [Line Items]
Forward foreign currency exchange contracts - assets	$ 0.0	$ 0.0
Forward foreign currency exchange contracts - liabilities	0.0	0.0
Significant other observable inputs (Level 2)
Derivatives, Fair Value [Line Items]
Forward foreign currency exchange contracts - assets	0.0	4.7
Forward foreign currency exchange contracts - liabilities	7.7	0.4
Significant unobservable inputs (Level 3)
Derivatives, Fair Value [Line Items]
Forward foreign currency exchange contracts - assets	0.0	0.0
Forward foreign currency exchange contracts - liabilities	$ 0.0	$ 0.0

Fair Value Measurements - Fair Value Measurement of Long-term Debt (Details) - USD ($) $ in Millions	Mar. 31, 2018	Apr. 01, 2017
4.000% Senior Notes \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value disclosure	$ 444.5	$ 0.0
Term Loan \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value disclosure	229.0	0.0
Revolving Credit Facilities \| Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value disclosure	200.0	133.1
Fair Value, Inputs, Level 2 \| 4.000% Senior Notes \| Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value disclosure	448.1	0.0
Fair Value, Inputs, Level 2 \| Term Loan \| Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value disclosure	231.2	0.0
Fair Value, Inputs, Level 2 \| Revolving Credit Facilities \| Estimated Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term debt, fair value disclosure	$ 200.0	$ 133.1

Fair Value Measurements - Non-financial Assets and Liabilities (Details) - USD ($)	3 Months Ended						12 Months Ended
	Mar. 31, 2018	Dec. 30, 2017	Sep. 30, 2017	Apr. 01, 2017	Dec. 31, 2016	Oct. 01, 2016	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible asset impairment charges							$ 5,200,000	$ 30,200,000	$ 0
Fixed assets impairment charge							27,500,000	169,000,000	10,900,000
Impairment Charge	$ 13,800,000	$ 2,600,000	$ 16,300,000	$ 193,800,000	$ 500,000	$ 4,900,000	32,700,000	199,200,000	10,900,000
Carrying Value Prior to Impairment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed Assets	30,500,000			186,900,000			30,500,000	186,900,000	10,900,000
Total	36,200,000			220,400,000			36,200,000	220,400,000
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fixed Assets	3,000,000			17,900,000			3,000,000	17,900,000	$ 0
Total	3,500,000			21,200,000			3,500,000	21,200,000
Lease rights
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible asset impairment charges							4,200,000	30,200,000
Lease rights \| Carrying Value Prior to Impairment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible Assets	4,700,000			33,500,000			4,700,000	33,500,000
Lease rights \| Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible Assets	500,000			$ 3,300,000			500,000	$ 3,300,000
Customer relationships
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible asset impairment charges							1,000,000
Customer relationships \| Carrying Value Prior to Impairment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible Assets	1,000,000						1,000,000
Customer relationships \| Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Intangible Assets	$ 0						$ 0

Derivative Financial Instruments - Schedule of Fair Value of Derivative Contracts Recorded on Gross Basis in Consolidated Balance Sheets (Details) - Foreign Exchange Forward - USD ($) $ in Millions	Mar. 31, 2018	Apr. 01, 2017
Derivative [Line Items]
Notional Amounts	$ 161.7	$ 167.5
Designated forward foreign currency exchange contracts
Derivative [Line Items]
Notional Amounts	161.7	167.5
Prepaid Expenses and Other Current Assets
Derivative [Line Items]
Current Assets	0.0	4.7
Prepaid Expenses and Other Current Assets \| Designated forward foreign currency exchange contracts
Derivative [Line Items]
Current Assets	0.0	4.7
Accrued Expenses and Other Current Liabilities
Derivative [Line Items]
Current Liabilities	7.7	0.4
Accrued Expenses and Other Current Liabilities \| Designated forward foreign currency exchange contracts
Derivative [Line Items]
Current Liabilities	$ 7.7	$ 0.4

Derivative Financial Instruments - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
Derivative [Line Items]
Derivative assets subject to master netting arrangements		$ 4.7
Derivative liabilities subject to master netting arrangements	$ 7.7	0.3
Net derivative asset after master netting agreement		4.5
Net derivative liabilities after master netting agreement		0.2
Foreign Currency Gain (Loss) \| Foreign Exchange Forward \| Not Designated as Hedging Instrument
Derivative [Line Items]
Gain (loss) on derivative recognized	$ 3.4	$ 2.6	$ (2.1)

Derivative Financial Instruments - Impact of Effective Portion of Gains and Losses of Forward Contracts Designated as Hedges (Details) - Foreign Exchange Forward - Designated hedges - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Pre-Tax Gain (Loss) Recognized in OCI	$ (22.4)	$ 10.2	$ (25.2)
Pre-tax Loss Reclassified from Accumulated OCI into Earnings	$ (4.0)	$ 0.4	$ 10.9

Shareholders' Equity - Additional Information (Details) - USD ($)	12 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016	May 25, 2017
Equity [Line Items]
Ordinary shares, shares repurchased	$ 361,000,000	$ 1,004,800,000	$ 1,152,400,000
Share Repurchase Program
Equity [Line Items]
Ordinary shares repurchased, shares authorized				$ 1,000,000,000
Ordinary shares, shares repurchased	7,700,959	21,756,353
Ordinary shares, shares repurchased	$ 357,800,000	$ 1,000,000,000
Remaining authorized repurchase amount	$ 642,200,000
Withholding Taxes
Equity [Line Items]
Ordinary shares, shares repurchased	92,536	100,552
Ordinary shares, shares repurchased	$ 3,200,000	$ 4,800,000

Accumulated Other Comprehensive Income (Loss) - Changes in Components of Accumulated Other Comprehensive Loss, Net of Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 1,595.0	$ 1,999.5	$ 2,241.0
Other comprehensive income (loss), net of tax	131.2	(0.1)	(14.0)
Ending balance	2,021.5	1,595.0	1,999.5
Other comprehensive income (loss) before reclassifications related to derivative instruments, tax provision (benefit)	(2.8)	1.2	(2.6)
Reclassification from other comprehensive income, tax provision	(0.6)		1.0
Foreign currency translation adjustments	147.4	(8.8)	18.5
Foreign Currency Translation (Losses) Gains
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(86.1)	(77.7)	(96.1)
Other comprehensive (loss) income before reclassifications	147.3	(8.4)	18.4
Less: amounts reclassified from AOCI to earnings	0.0	0.0	0.0
Other comprehensive income (loss), net of tax	147.3	(8.4)	18.4
Ending balance	61.2	(86.1)	(77.7)
Net gains (losses) on long-term transactions	(9.2)	2.4
Net Gains (Losses) on Derivatives
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	5.5	(3.2)	29.3
Other comprehensive (loss) income before reclassifications	(19.6)	9.0	(22.6)
Less: amounts reclassified from AOCI to earnings	(3.4)	0.3	9.9
Other comprehensive income (loss), net of tax	(16.2)	8.7	(32.5)
Ending balance	(10.7)	5.5	(3.2)
Accumulated other comprehensive income, tax provision (benefit)	(1.4)	0.8	(0.3)
Other Comprehensive (Loss)/Gain Attributable to MKHL
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(80.6)	(80.9)	(66.8)
Other comprehensive (loss) income before reclassifications	127.7	0.6	(4.2)
Less: amounts reclassified from AOCI to earnings	(3.4)	0.3	9.9
Other comprehensive income (loss), net of tax	131.1	0.3	(14.1)
Ending balance	50.5	(80.6)	(80.9)
Other Comprehensive Income (Loss) Attributable to Noncontrolling Interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(0.3)	0.1	0.0
Other comprehensive (loss) income before reclassifications	0.1	(0.4)	0.1
Less: amounts reclassified from AOCI to earnings	0.0	0.0	0.0
Other comprehensive income (loss), net of tax	0.1	(0.4)	0.1
Ending balance	(0.2)	(0.3)	0.1
Total Other Comprehensive (Loss) Income
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(80.9)	(80.8)	(66.8)
Other comprehensive (loss) income before reclassifications	127.8	0.2	(4.1)
Less: amounts reclassified from AOCI to earnings	(3.4)	0.3	9.9
Other comprehensive income (loss), net of tax	131.2	(0.1)	(14.0)
Ending balance	50.3	$ (80.9)	$ (80.8)
Jimmy Cho PLC
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Foreign currency translation adjustments	$ 88.8

Share-Based Compensation - Additional Information (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Mar. 31, 2018 USD ($) type_of_restricted_share_unit EquityPlan $ / shares shares	Apr. 01, 2017 USD ($) $ / shares	Apr. 02, 2016 USD ($) $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity plans (in plans) \| EquityPlan	2
Outstanding options unvested (in shares) \| shares	664,497
Outstanding options vested (in shares) \| shares	3,132,123
Intrinsic value of options exercised	$ 48.0	$ 30.5
Exercise of employee share options	$ 13.7	$ 8.4	$ 12.7
Weighted average grant date fair value of option (in dollars per share) \| $ / shares	$ 11.62	$ 13.79	$ 14.35
Estimated value of future forfeitures	$ 3.0
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exercise of employee share options		$ 8.3
Unrecognized stock based compensation expense	$ 5.1
Weighted average period of recognition	1 year 10 months 5 days
Share-based compensation, vesting period	4 years
Restricted Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock based compensation expense	$ 1.6
Weighted average period of recognition	3 months 13 days
Share-based compensation, vesting period	4 years
Fair value of restricted shares vested during a period	$ 4.0	6.7	$ 14.4
Restricted Share Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock based compensation expense	$ 65.4
Weighted average period of recognition	2 years 6 months 5 days
Types of equity instruments other than options \| type_of_restricted_share_unit	2
Fair value of restricted shares vested during a period	$ 17.9	13.7	$ 1.1
Restricted Share Units \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting period	1 year
Restricted Share Units \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting period	4 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized stock based compensation expense	$ 17.5
Weighted average period of recognition	2 years 9 months 10 days
Fair value of restricted shares vested during a period	$ 3.6	$ 10.9
Performance Shares \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting period	2 years
Potential number of shares that may be earned (as a percent)	0.00%
Performance Shares \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation, vesting period	3 years
Potential number of shares that may be earned (as a percent)	150.00%
Stock Option Plan 2008
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of plans adopted (in plans) \| EquityPlan	1
Shares authorized for issuance (up to) (in shares) \| shares	23,980,823
Shares available for grant (in shares) \| shares	0
Expiration period	10 years
Omnibus Incentive Plan 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized for issuance (up to) (in shares) \| shares	15,246,000
Shares available for grant (in shares) \| shares	7,193,763
Expiration period	7 years

Share-Based Compensation - Option Activity and Information about Options Outstanding (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Mar. 31, 2018 USD ($) $ / shares shares
Number of Options
Outstanding at beginning of period (in shares) \| shares	4,791,045
Granted (in shares) \| shares	208,264
Exercised (in shares) \| shares	(1,116,857)
Canceled/forfeited (in shares) \| shares	(85,832)
Outstanding at end of period (in shares) \| shares	3,796,620
Vested or expected to vest at end of period (in shares) \| shares	3,776,873
Vested and exercisable at end of period (in shares) \| shares	3,132,123
Weighted Average Exercise Price
Outstanding at beginning of period (in dollars per share) \| $ / shares	$ 28.55
Granted (in dollars per share) \| $ / shares	34.68
Exercised (in dollars per share) \| $ / shares	12.34
Canceled/forfeited (in dollars per share) \| $ / shares	67.04
Outstanding at end of period (in dollars per share) \| $ / shares	32.78
Vested or expected to vest at end of period (in dollars per share) \| $ / shares	32.78
Vested and exercisable at end of period (in dollars per share) \| $ / shares	$ 29.28
Weighted Average Remaining Contractual Life
Outstanding at end of period (in years)	2 years 7 months 18 days
Vested or expected to vest at end of period (in years)	2 years 7 months 18 days
Vested and exercisable at end of period (in years)	2 years 2 months 8 days
Aggregate Intrinsic Value
Outstanding at end of period \| $	$ 124.6
Vested and exercisable at end of period \| $	$ 112.8

Share-Based Compensation - Assumptions Used to Estimate Fair Value of Options (Details) - Stock options	12 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield (as a percent)	0.00%	0.00%	0.00%
Volatility factor (as a percent)	36.30%	30.10%	31.10%
Weighted average risk-free interest rate (as a percent)	1.80%	1.10%	1.60%
Expected life of option	4 years 8 months 10 days	4 years 9 months	4 years 9 months

Share-Based Compensation - Restricted Shares and Restricted Share Units (Details)	12 Months Ended
	Mar. 31, 2018 $ / shares shares
Restricted Shares
Number of Unvested Restricted Shares/Units
Unvested at beginning of period (in shares) \| shares	185,425
Granted (in shares) \| shares	0
Vested (in shares) \| shares	(114,121)
Canceled/forfeited (in shares) \| shares	(7,156)
Unvested at end of period (in shares) \| shares	64,148
Weighted Average Grant Date Fair Value
Unvested at beginning of period (in dollars per share) \| $ / shares	$ 84.12
Granted (in dollars per share) \| $ / shares	0.00
Vested (in dollars per share) \| $ / shares	79.97
Canceled/forfeited (in dollars per share) \| $ / shares	90.87
Unvested at end of period (in dollars per share) \| $ / shares	$ 90.75
Service-based RSU's
Number of Unvested Restricted Shares/Units
Unvested at beginning of period (in shares) \| shares	1,470,767
Granted (in shares) \| shares	1,390,454
Decrease due to performance condition (in shares) \| shares	0
Vested (in shares) \| shares	(453,695)
Canceled/forfeited (in shares) \| shares	(280,009)
Unvested at end of period (in shares) \| shares	2,127,517
Weighted Average Grant Date Fair Value
Unvested at beginning of period (in dollars per share) \| $ / shares	$ 48.39
Granted (in dollars per share) \| $ / shares	38.57
Decrease due to performance condition (in dollars per share) \| $ / shares	0.00
Vested (in dollars per share) \| $ / shares	48.20
Canceled/forfeited (in dollars per share) \| $ / shares	44.46
Unvested at end of period (in dollars per share) \| $ / shares	$ 42.53
Performance-based RSU's
Number of Unvested Restricted Shares/Units
Unvested at beginning of period (in shares) \| shares	401,777
Granted (in shares) \| shares	363,848
Decrease due to performance condition (in shares) \| shares	(12,891)
Vested (in shares) \| shares	(95,202)
Canceled/forfeited (in shares) \| shares	0
Unvested at end of period (in shares) \| shares	657,532
Weighted Average Grant Date Fair Value
Unvested at beginning of period (in dollars per share) \| $ / shares	$ 58.50
Granted (in dollars per share) \| $ / shares	51.56
Decrease due to performance condition (in dollars per share) \| $ / shares	92.93
Vested (in dollars per share) \| $ / shares	84.95
Canceled/forfeited (in dollars per share) \| $ / shares	0.00
Unvested at end of period (in dollars per share) \| $ / shares	$ 50.16

Share-Based Compensation - Compensation Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Share-based compensation expense	$ 49.6	$ 33.9	$ 48.4
Tax benefits related to share-based compensation expense	$ 9.7	$ 11.2	$ 15.7

Taxes - Income Before Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
Income Tax Disclosure [Abstract]
U.S.	$ 124.1	$ 228.4	$ 737.5
Non-U.S.	617.7	460.2	434.8
Income before provision for income taxes	$ 741.8	$ 688.6	$ 1,172.3

Taxes - Provision for Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
Current
U.S. Federal	$ 47.6	$ 131.2	$ 268.0
U.S. State	15.6	20.4	14.3
Non-U.S.	77.4	45.8	54.2
Total current	140.6	197.4	336.5
Deferred
U.S. Federal	23.9	(34.1)	0.3
U.S. State	0.9	(5.0)	1.0
Non-U.S.	(15.7)	(21.2)	(3.2)
Total deferred	9.1	(60.3)	(1.9)
Total provision for income taxes	$ 149.7	$ 137.1	$ 334.6

Taxes - Significant Differences Between United States Federal Statutory Tax Rate and Company's Effective Tax Rate (Details)	12 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
Income Tax Disclosure [Abstract]
Provision for income taxes at the U.K. (2018-2017), U.S. (2016) statutory tax rate	19.00%	20.00%	35.00%
State and local income taxes, net of federal benefit	0.50%	1.30%	1.20%
Effects of global financing arrangements	(15.60%)	(13.70%)	(2.80%)
U.S. tax reform	2.00%	0.00%	0.00%
Differences in tax effects on foreign income	6.70%	11.10%	(5.10%)
Foreign tax credit	(0.00%)	0.30%	(0.20%)
Liability for uncertain tax positions	6.60%	0.00%	0.00%
Effect of changes in valuation allowances on deferred tax assets	0.30%	0.50%	(0.20%)
Withholding tax	1.20%	0.00%	0.00%
Other	(0.50%)	0.40%	0.60%
Effective tax rate	20.20%	19.90%	28.50%

Taxes - Significant Components of Deferred Tax Assets (Liabilities) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Apr. 01, 2017
Deferred tax assets
Inventories	$ 3.8	$ 9.0
Payroll related accruals	1.6	2.2
Deferred rent	24.5	39.5
Net operating loss carryforwards	30.6	17.7
Stock compensation	16.8	26.2
Sales allowances	6.0	10.0
Other	27.0	14.7
Total deferred tax assets, gross	110.3	119.3
Valuation allowance	(13.8)	(7.2)
Total deferred tax assets	96.5	112.1
Deferred tax liabilities
Goodwill and intangibles	(240.6)	(112.3)
DTA - Depreciation	14.0
Depreciation		(2.7)
Other	0.0	(3.8)
Total deferred tax liabilities	(226.6)	(118.8)
Net deferred tax liabilities	$ (130.1)	$ (6.7)

Taxes - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
Income Tax [Line Items]
Federal statutory tax rate	19.00%	20.00%	35.00%
Provisional income tax expense from the Tax Act	$ 21.2
Income tax expense for transition tax for accumulated foreign earnings from the Tax Act	3.0
Income tax expense from re-measurement of deferred tax assets	18.2
Income tax benefit due to corporate tax rate reductions	$ 6.1
Percentage increase in effective tax rate due to change in corporate tax rate	2.00%	0.00%	0.00%
Increase in deferred tax valuation allowance	$ 7.6	$ 4.4	$ 3.3
Valuation allowance released	1.0	0.6	5.6
Accrued liability for uncertain tax positions	107.4	29.1
Unrecognized tax benefits	100.8	26.5	16.8
Interest on unrecognized tax benefits	6.6	$ 2.5	$ 1.7
Decrease in unrecognized tax benefits reasonably possible	30.8
Undistributed earnings	$ 2,542.0
US
Income Tax [Line Items]
Federal statutory tax rate	32.00%
Net operating loss carryforwards	$ 162.4
Operating loss carry forward expiration year	2021

Taxes - Reconciliation of Beginning and Ending Amounts of Unrecognized Tax Benefits Excluding Accrued Interest (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits beginning balance	$ 26.5	$ 16.8	$ 19.9
Additions related to prior period tax positions	30.4	1.7	0.0
Additions related to current period tax positions	45.0	10.3	5.8
Decreases in prior period positions due to lapses in statute of limitations	(0.7)	(2.3)	(5.7)
Decreases related to audit settlements	(0.4)	0.0	(3.2)
Unrecognized tax benefits ending balance	$ 100.8	$ 26.5	$ 16.8

Retirement Plans (Details) - USD ($) $ in Millions	12 Months Ended
Retirement Plans (Details) - USD ($) $ in Millions	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
Retirement Benefits [Abstract]
Defined contribution plan, service period for eligibility	3 months
Expenses recognized for defined contribution plans	$ 11.6	$ 9.1	$ 10.1

Segment Information - Additional Information (Details) - segment	9 Months Ended	12 Months Ended
	Dec. 30, 2017	Mar. 31, 2018
Segment Reporting [Abstract]
Number of reportable segments	3	4
Number of operating segments		4

Segment Information - Key Performance Information of Reportable Segments (Details) - USD ($) $ in Millions	3 Months Ended								5 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 31, 2016	Oct. 01, 2016	Jul. 02, 2016	Mar. 31, 2018	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
Segment Reporting Information [Line Items]
Total revenue	$ 1,179.5	$ 1,440.1	$ 1,146.6	$ 952.4	$ 1,064.8	$ 1,352.8	$ 1,088.2	$ 987.9		$ 4,718.6	$ 4,493.7	$ 4,712.1
Income from operations	$ 87.1	$ 313.5	$ 199.1	$ 149.4	$ (42.6)	$ 341.9	$ 203.7	$ 186.9		749.1	689.9	1,175.1
MK Retail assets
Segment Reporting Information [Line Items]
Net sales										2,711.8	2,572.1	2,394.9
Income from operations										333.8	159.8	501.4
MK Wholesale
Segment Reporting Information [Line Items]
Net sales										1,639.3	1,775.8	2,143.9
Income from operations										373.8	468.1	584.1
MK Licensing
Segment Reporting Information [Line Items]
Licensing revenue										144.9	145.8	173.3
Income from operations										58.2	62.0	89.6
Michael Kors
Segment Reporting Information [Line Items]
Total revenue										4,496.0	4,493.7	4,712.1
Income from operations										765.8	689.9	1,175.1
Jimmy Choo
Segment Reporting Information [Line Items]
Total revenue									$ 222.6	222.6	0.0	0.0
Income from operations										$ (16.7)	$ 0.0	$ 0.0

Segment Information - Depreciation and Amortization Expense for Each Segment (Details) - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 208.6	$ 219.8	$ 183.2
MK Retail assets
Segment Reporting Information [Line Items]
Depreciation and amortization	135.8	156.1	114.5
MK Wholesale
Segment Reporting Information [Line Items]
Depreciation and amortization	57.2	61.6	67.3
MK Licensing
Segment Reporting Information [Line Items]
Depreciation and amortization	2.4	2.1	1.4
Michael Kors
Segment Reporting Information [Line Items]
Depreciation and amortization	195.4	219.8	183.2
Jimmy Choo
Segment Reporting Information [Line Items]
Depreciation and amortization	$ 13.2	$ 0.0	$ 0.0

Segment Information - Impairment Charges by Asset Type (Details) - USD ($) $ in Millions	3 Months Ended						12 Months Ended
	Mar. 31, 2018	Dec. 30, 2017	Sep. 30, 2017	Apr. 01, 2017	Dec. 31, 2016	Oct. 01, 2016	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
Segment Reporting Information [Line Items]
Impairment of long-lived assets	$ 13.8	$ 2.6	$ 16.3	$ 193.8	$ 0.5	$ 4.9	$ 32.7	$ 199.2	$ 10.9
Operating segments \| MK Retail assets
Segment Reporting Information [Line Items]
Impairment of long-lived assets							31.3	198.7	8.6
Operating segments \| MK Wholesale assets
Segment Reporting Information [Line Items]
Impairment of long-lived assets							1.4	0.5	0.4
Corporate
Segment Reporting Information [Line Items]
Impairment of long-lived assets							$ 0.0	$ 0.0	$ 1.9

Segment Information - Total Revenue (as Recognized Based on Country of Origin), and Long-Lived Assets by Geographic Location (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Mar. 31, 2018	Dec. 30, 2017	Sep. 30, 2017	Jul. 01, 2017	Apr. 01, 2017	Dec. 31, 2016	Oct. 01, 2016	Jul. 02, 2016	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue	$ 1,179.5	$ 1,440.1	$ 1,146.6	$ 952.4	$ 1,064.8	$ 1,352.8	$ 1,088.2	$ 987.9	$ 4,718.6	$ 4,493.7	$ 4,712.1
Long-lived assets	1,818.9				1,009.6				1,818.9	1,009.6	825.6
North America (U.S., Canada and Latin America)
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue									3,033.2	3,140.7	3,506.6
Long-lived assets	327.3				356.1				327.3	356.1	507.7
United States
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue									2,818.0	2,935.0	3,304.0
Long-lived assets	303.3				328.8				303.3	328.8
Europe
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue									1,092.7	943.9	990.3
Long-lived assets	1,050.3				197.7				1,050.3	197.7	284.2
Asia
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenue									592.7	409.1	215.2
Long-lived assets	$ 441.3				$ 455.8				$ 441.3	$ 455.8	$ 33.7

Segment Information - Net Revenues by Major Product Category (Details) - Product Concentration Risk - Total Revenue - USD ($) $ in Millions	12 Months Ended
	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
Revenue from External Customer [Line Items]
Net sales	$ 4,718.6	$ 4,493.7	$ 4,712.1
Accessories
Revenue from External Customer [Line Items]
Net sales	$ 3,057.0	$ 3,061.4	$ 3,179.7
% of Total	64.80%	68.10%	67.50%
Footwear
Revenue from External Customer [Line Items]
Net sales	$ 656.9	$ 462.0	$ 491.0
% of Total	13.90%	10.30%	10.40%
Apparel
Revenue from External Customer [Line Items]
Net sales	$ 604.6	$ 543.2	$ 543.7
% of Total	12.80%	12.10%	11.50%
Licensed product
Revenue from External Customer [Line Items]
Net sales	$ 249.7	$ 281.3	$ 324.4
% of Total	5.30%	6.30%	6.90%
Licensing revenue
Revenue from External Customer [Line Items]
Net sales	$ 150.4	$ 145.8	$ 173.3
% of Total	3.20%	3.20%	3.70%

Related Party Transactions - Additional Information (Details) - USD ($) $ in Millions	2 Months Ended	12 Months Ended
	May 31, 2016	Mar. 31, 2018	Apr. 01, 2017	Apr. 02, 2016
Licensee
Related Party Transaction [Line Items]
Agreements between the Company and Far East Holdings Limited expiry date		Mar. 31, 2041
Royalties earned	$ 1.2			$ 7.6
Net sales related to inventory items by Licensees	28.9			169.8
Net sales	$ 7.9			62.8
Related Party, Supplier \| Immediate Family Member of Management or Principal Owner
Related Party Transaction [Line Items]
Purchases from related party			$ 1.7	$ 3.4

Selected Quarterly Financial Information (Unaudited) - Summary of Quarterly Results (Details) - USD ($)
$ in Millions

3 Months Ended

12 Months Ended

Mar. 31, 2018

Dec. 30, 2017

Sep. 30, 2017

Jul. 01, 2017

Apr. 01, 2017

Dec. 31, 2016

Oct. 01, 2016

Jul. 02, 2016

Mar. 31, 2018

Apr. 01, 2017

Apr. 02, 2016

Business Acquisition [Line Items]

Total revenue

$ 1,179.5

$ 1,440.1

$ 1,146.6

$ 952.4

$ 1,064.8

$ 1,352.8

$ 1,088.2

$ 987.9

$ 4,718.6

$ 4,493.7

$ 4,712.1

Gross profit

709.8

884.0

690.8

574.7

619.7

805.7

644.7

591.3

2,859.3

2,661.4

2,797.2

87.1

313.5

199.1

149.4

(42.6)

341.9

203.7

186.9

749.1

689.9

1,175.1

Net income

44.5

219.4

202.7

125.5

(26.8)

271.3

160.7

146.3

592.1

551.5

837.7

Net income attributable to MKHL

$ 44.1

$ 219.4

$ 202.9

$ 125.5

$ (26.8)

$ 271.3

$ 160.9

$ 147.1

$ 591.9

$ 552.5

$ 839.1

Impairment of long-lived assets

Basic (in shares)

150,818,144

152,047,963

151,781,340

154,486,898

159,944,132

163,148,597

166,695,631

174,158,571

152,283,586

165,986,733

186,293,295

Diluted (in shares)

154,252,751

154,623,339

154,168,094

156,871,518

161,827,486

165,214,045

168,839,967

176,613,751

155,102,885

168,123,813

189,054,289

$ 13.8

$ 2.6

$ 16.3

$ 193.8

$ 0.5

$ 4.9

$ 32.7

$ 199.2

$ 10.9

44.3

2.4

5.9

102.1

^[1]

11.3

^[1]

$ 0.0

^[1]

Jimmy Cho PLC

Transaction and transition costs

$ 6.5

$ 25.6

$ 17.4

$ 40.6

Greater China business