v3.26.1
Discontinued Operations (Tables)
 12 Months Ended
Mar. 28, 2026
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Carrying Amounts of Major Classes of Assets and Liabilities Classified as Held for Sale and Major Components of Discontinued Operations, Net of Income Taxes
The following table represents the carrying amounts of the major classes of assets and liabilities classified as held for sale in the consolidated balance sheet as of March 29, 2025 (in millions):
March 29,
2025
Cash and cash equivalents$59 
Receivables, net62 
Inventories, net168 
Prepaid expenses and other current assets53 
Current assets held for sale342 
Property and equipment, net120 
Operating lease right-of-use assets388 
Intangible assets, net534 
Goodwill489 
Other assets63 
Noncurrent assets held for sale1,594 
Total assets held for sale$1,936 
Accounts payable$106 
Accrued payroll and payroll related expenses28 
Accrued income taxes2 
Short-term operating lease liabilities101 
Accrued expenses and other current liabilities67 
Current liabilities held for sale304 
Long-term operating lease liabilities439 
Deferred tax liabilities106 
Long-term debt10 
Other long-term liabilities20 
Noncurrent liabilities held for sale575 
Total liabilities held for sale$879 
The following table presents the major components of discontinued operations, net of income taxes, in the Company’s consolidated statements of operations and comprehensive (loss) income (in millions):
Fiscal Years Ended
March 28,
2026		March 29,
2025		March 30,
2024
Total revenue$592 $821 $1,030 
Cost of goods sold173 246 306 
Selling, general and administrative expenses398 583 652 
Depreciation and amortization5 61 56 
Impairment of assets— 655 283 
Restructuring and other expense5 2 33 
Other income, net(44)— 4 
Foreign currency gain(5)(1)— 
Income (loss) from discontinued operations before income taxes60 (725)(304)
Provision (benefit) for income taxes2 (72)(62)
Net income (loss) from discontinued operations, net of tax$58 $(653)$(242)
The following table presents the details of the gain on the sale of the Versace business as of the Closing Date (in millions):
Cash consideration, net$1,365 
Transaction expenses(15)
Carrying value of net assets sold(1,266)
Gain on sale before reclassification of foreign currency translation84 
Reclassification of foreign currency translation(39)
Gain on sale$45