Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Dec. 31, 2016	Feb. 03, 2017
Entity Registrant Name	RALPH LAUREN CORP
Entity Central Index Key	0001037038
Document Type	10-Q
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--04-01
Entity Filer Category	Large Accelerated Filer
Class A common stock
Entity Common Stock, Shares Outstanding		56,331,353
Class B common stock
Entity Common Stock, Shares Outstanding		25,881,276

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Dec. 31, 2016	Apr. 02, 2016
Current assets:
Cash and cash equivalents	$ 928	$ 456
Short-term investments	453	629
Accounts receivable, net of allowances of $213 million and $254 million	285	517
Inventories	984	1,125
Income tax receivable	63	58
Prepaid expenses and other current assets	321	268
Total current assets	3,034	3,053
Property and equipment, net	1,514	1,583
Deferred tax assets	91	119
Goodwill	900	918
Intangible assets, net	225	244
Other non-current assets	202	296
Total assets	5,966	6,213
Current liabilities:
Short-term Debt	0	116
Accounts payable	158	151
Income tax payable	38	33
Accrued expenses and other current liabilities	955	898
Total current liabilities	1,151	1,198
Long-term debt	589	597
Non-current liability for unrecognized tax benefits	77	81
Other non-current liabilities	539	593
Commitments and contingencies (Note 13)
Total liabilities	2,356	2,469
Equity:
Additional paid-in-capital	2,299	2,258
Retained earnings	5,997	6,015
Treasury stock, Class A, at cost; 45.2 million and 44.0 million shares	(4,464)	(4,349)
Accumulated other comprehensive loss	(223)	(181)
Total equity	3,610	3,744
Total liabilities and equity	5,966	6,213
Class A common stock, par value $.01 per share; 101.5 million and 101.0 million shares issued; 56.3 million and 57.0 million shares outstanding
Equity:
Common stock	1	1
Class B common stock, par value $.01 per share; 25.9 million shares issued and outstanding
Equity:
Common stock	$ 0	$ 0

Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) shares in Millions, $ in Millions	Dec. 31, 2016	Apr. 02, 2016
Allowance on accounts receivable	$ 213	$ 254
Class A common stock, par value $.01 per share; 101.5 million and 101.0 million shares issued; 56.3 million and 57.0 million shares outstanding
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued	101.5	101.0
Common stock, shares outstanding	56.3	57.0
Treasury stock, shares	45.2	44.0
Class B common stock, par value $.01 per share; 25.9 million shares issued and outstanding
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares issued	25.9	25.9
Common stock, shares outstanding	25.9	25.9

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015
Income Statement [Abstract]
Net sales	$ 1,670	$ 1,899	$ 4,957	$ 5,399
Licensing revenue	44	47	130	135
Net revenues	1,714	1,946	5,087	5,534
Cost of goods sold(a)	(731)	(852)	(2,255)	(2,361)
Gross profit	983	1,094	2,832	3,173
Total other operating expenses, net
Selling, general, and administrative expenses(a)	(772)	(833)	(2,390)	(2,494)
Amortization of intangible assets	(6)	(5)	(18)	(17)
Impairment of assets	(11)	(9)	(57)	(24)
Restructuring and other charges	(66)	(58)	(194)	(123)
Total other operating expenses, net	(855)	(905)	(2,659)	(2,658)
Operating income	128	189	173	515
Foreign currency gains (losses)	(2)	(3)	1	(9)
Interest expense	(4)	(6)	(11)	(14)
Interest and other income, net	3	2	6	5
Equity in losses of equity-method investees	(1)	(1)	(5)	(7)
Income before income taxes	124	181	164	490
Provision for income taxes	(42)	(50)	(59)	(135)
Net income	$ 82	$ 131	$ 105	$ 355
Net income per common share:
Basic	$ 0.98	$ 1.55	$ 1.26	$ 4.15
Diluted	$ 0.98	$ 1.54	$ 1.25	$ 4.11
Weighted average common shares outstanding:
Basic	82.6	84.9	82.9	85.7
Diluted	83.3	85.5	83.6	86.3
Dividends declared per share	$ 0.50	$ 0.50	$ 1.50	$ 1.50
(a) Includes total depreciation expense of:	$ (72)	$ (71)	$ (214)	$ (210)

Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015
Statement of Comprehensive Income [Abstract]
Net income	$ 82	$ 131	$ 105	$ 355
Other comprehensive income (loss), net of tax:
Foreign currency translation losses	(89)	(26)	(87)	(13)
Net gains (losses) on cash flow hedges	45	(8)	43	(24)
Net gains on defined benefit plans	1	1	2	2
Other comprehensive loss, net of tax	(43)	(33)	(42)	(35)
Total comprehensive income	$ 39	$ 98	$ 63	$ 320

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Dec. 31, 2016	Dec. 26, 2015
Cash flows from operating activities:
Net income	$ 105	$ 355
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	232	227
Deferred income tax expense (benefit)	10	(4)
Equity in losses of equity-method investees	5	7
Non-cash stock-based compensation expense	46	79
Non-cash impairment of assets	57	24
Non-cash restructuring-related inventory charges	149	13
Excess tax benefits from stock-based compensation arrangements	0	(9)
Other non-cash charges	18	7
Changes in operating assets and liabilities:
Accounts receivable	215	176
Inventories	(37)	(251)
Prepaid expenses and other current assets	(73)	24
Accounts payable and accrued liabilities	98	218
Income tax receivables and payables	(3)	0
Deferred income	(15)	(8)
Other balance sheet changes	43	(6)
Net cash provided by operating activities	850	852
Cash flows from investing activities:
Capital expenditures	(225)	(325)
Purchases of investments	(461)	(637)
Proceeds from sales and maturities of investments	705	591
Acquisitions and ventures	(2)	(14)
Change in restricted cash deposits	0	(6)
Net cash provided by (used in) investing activities	17	(391)
Cash flows from financing activities:
Proceeds from issuance of short-term debt	3,735	3,409
Repayments of short-term debt	(3,851)	(3,628)
Proceeds from issuance of long-term debt	0	299
Payments of capital lease obligations	(19)	(19)
Payments of dividends	(124)	(128)
Repurchases of common stock, including shares surrendered for tax withholdings	(115)	(399)
Proceeds from exercises of stock options	5	31
Excess tax benefits from stock-based compensation arrangements	0	9
Other financing activities	0	(2)
Net cash used in financing activities	(369)	(428)
Effect of exchange rate changes on cash and cash equivalents	(26)	(6)
Net increase in cash and cash equivalents	472	27
Cash and cash equivalents at beginning of period	456	500
Cash and cash equivalents at end of period	$ 928	$ 527

Description of Business	9 Months Ended
Description of Business	Dec. 31, 2016
Description of Business [Abstract]
Description of Business	Description of Business Ralph Lauren Corporation ("RLC") is a global leader in the design, marketing, and distribution of premium lifestyle products, including apparel, accessories, home furnishings, and other licensed product categories. RLC's long-standing reputation and distinctive image have been consistently developed across an expanding number of products, brands, sales channels, and international markets. RLC's brand names include Ralph Lauren, Ralph Lauren Collection, Ralph Lauren Purple Label, Polo Ralph Lauren, Double RL, Lauren Ralph Lauren, Polo Ralph Lauren Children, Denim & Supply Ralph Lauren, Chaps, and Club Monaco, among others. RLC and its subsidiaries are collectively referred to herein as the "Company," "we," "us," "our," and "ourselves," unless the context indicates otherwise. The Company classifies its businesses into three segments: Wholesale, Retail, and Licensing. The Company's wholesale sales are made principally to major department stores and specialty stores around the world. The Company also sells directly to consumers through its integrated retail channel, which includes its retail stores, concession-based shop-within-shops, and e-commerce operations around the world. In addition, the Company licenses to unrelated third parties for specified periods the right to operate retail stores and/or to use its various trademarks in connection with the manufacture and sale of designated products, such as certain apparel, eyewear, fragrances, and home furnishings.

Basis of Presentation	9 Months Ended
Basis of Presentation	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation Interim Financial Statements These interim consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (the "SEC") and are unaudited. In the opinion of management, these consolidated financial statements contain all normal and recurring adjustments necessary to present fairly the consolidated financial position, income, comprehensive income, and cash flows of the Company for the interim periods presented. In addition, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the U.S. ("U.S. GAAP") have been condensed or omitted from this report as is permitted by the SEC's rules and regulations. However, the Company believes that the disclosures provided herein are adequate to prevent the information presented from being misleading. This report should be read in conjunction with the Company's Annual Report on Form 10-K filed with the SEC for the fiscal year ended April 2, 2016 (the "Fiscal 2016 10-K"). Basis of Consolidation These unaudited interim consolidated financial statements present the consolidated financial position, income, comprehensive income, and cash flows of the Company, including all entities in which the Company has a controlling financial interest and is determined to be the primary beneficiary. All significant intercompany balances and transactions have been eliminated in consolidation. Fiscal Periods The Company utilizes a 52-53 week fiscal year ending on the Saturday closest to March 31. As such, fiscal year 2017 will end on April 1, 2017 and will be a 52-week period ("Fiscal 2017"). Fiscal year 2016 ended on April 2, 2016 and was a 53-week period ("Fiscal 2016"). The third quarter of Fiscal 2017 ended on December 31, 2016 and was a 13-week period. The third quarter of Fiscal 2016 ended on December 26, 2015 and was also a 13-week period. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and footnotes thereto. Actual results could differ materially from those estimates. Significant estimates inherent in the preparation of the consolidated financial statements include reserves for bad debt, customer returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances; the realizability of inventory; reserves for litigation and other contingencies; useful lives and impairments of long-lived tangible and intangible assets; fair value measurements; accounting for income taxes and related uncertain tax positions; valuation of stock-based compensation awards and related estimated forfeiture rates; reserves for restructuring activity; and accounting for business combinations, among others. Reclassifications Certain reclassifications have been made to the prior period's financial information in order to conform to the current period's presentation. Seasonality of Business The Company's business is typically affected by seasonal trends, with higher levels of wholesale sales in its second and fourth fiscal quarters and higher retail sales in its second and third fiscal quarters. These trends result primarily from the timing of seasonal wholesale shipments and key vacation travel, back-to-school, and holiday shopping periods impacting the Retail segment. In addition, fluctuations in sales, operating income, and cash flows in any fiscal quarter may be affected by other events affecting retail sales, such as changes in weather patterns. Accordingly, the Company's operating results and cash flows for the three-month and nine-month periods ended December 31, 2016 are not necessarily indicative of the operating results and cash flows that may be expected for the full Fiscal 2017.

Summary of Significant Accounting Policies

9 Months Ended

Dec. 31, 2016

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Revenue Recognition

Revenue is recognized across all segments of the business when there is persuasive evidence of an arrangement, delivery has occurred, the price has been fixed or is determinable, and collectability is reasonably assured.

Revenue within the Company's Wholesale segment is recognized at the time title passes and risk of loss is transferred to customers. Wholesale revenue is recorded net of estimates of returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances. Returns and allowances require pre-approval from management and discounts are based on trade terms. Estimates for end-of-season markdown reserves are based on historical trends, actual and forecasted seasonal results, an evaluation of current economic and market conditions, retailer performance, and, in certain cases, contractual terms. Estimates for operational chargebacks are based on actual customer notifications of order fulfillment discrepancies and historical trends. The Company reviews and refines these estimates on at least a quarterly basis. The Company's historical estimates of these costs have not differed materially from actual results.

Retail store and concession-based shop-within-shop revenue is recognized net of estimated returns at the time of sale to consumers. E-commerce revenue from sales of products ordered through the Company's e-commerce sites is recognized upon delivery of the shipment to its customers. Such revenue is also reduced by an estimate of returns.

Gift cards issued by the Company are recorded as a liability until they are redeemed, at which point revenue is recognized. The Company recognizes income for unredeemed gift cards when the likelihood of redemption by a customer is remote and the Company determines that it does not have a legal obligation to remit the value of the unredeemed gift card to the relevant jurisdiction as unclaimed or abandoned property.

Revenue from licensing arrangements is recognized when earned in accordance with the terms of the underlying agreements, generally based upon the higher of (i) contractually guaranteed minimum royalty levels or (ii) actual sales and royalty data, or estimates thereof, received from the Company's licensees.

The Company accounts for sales taxes and other related taxes on a net basis, excluding such taxes from revenue.

Shipping and Handling Costs

The costs associated with shipping goods to customers are reflected as a component of selling, general, and administrative ("SG&A") expenses in the consolidated statements of operations. Shipping costs were $13 million and $32 million during each of the three-month and nine-month periods ended December 31, 2016 and December 26, 2015, respectively. The costs of preparing merchandise for sale, such as picking, packing, warehousing, and order charges ("handling costs") are also included in SG&A expenses. Handling costs were $44 million and $128 million during the three-month and nine-month periods ended December 31, 2016, respectively, and $48 million and $133 million during the three-month and nine-month periods ended December 26, 2015, respectively. Shipping and handling costs billed to customers are included in revenue.

Net Income per Common Share

Basic net income per common share is computed by dividing net income attributable to common shares by the weighted-average number of common shares outstanding during the period. Weighted-average common shares include shares of the Company's Class A and Class B common stock. Diluted net income per common share adjusts basic net income per common share for the dilutive effects of outstanding stock options, restricted stock, restricted stock units ("RSUs"), and any other potentially dilutive instruments, only in the periods in which such effects are dilutive.

The weighted-average number of common shares outstanding used to calculate basic net income per common share is reconciled to shares used to calculate diluted net income per common share as follows:



	Three Months Ended		Nine Months Ended
	December 31, 2016	December 26, 2015	December 31, 2016	December 26, 2015
	(millions)
Basic shares	82.6	84.9	82.9	85.7
Dilutive effect of stock options, restricted stock, and RSUs	0.7	0.6	0.7	0.6
Diluted shares	83.3	85.5	83.6	86.3

All earnings per share amounts have been calculated using unrounded numbers. Options to purchase shares of the Company's Class A common stock at an exercise price greater than the average market price of the common stock during the reporting period are anti-dilutive and therefore not included in the computation of diluted net income per common share. In addition, the Company has outstanding performance-based RSUs, which are included in the computation of diluted shares only to the extent that the underlying performance conditions (and applicable market condition modifiers, if any) (i) have been satisfied as of the end of the reporting period or (ii) would be considered satisfied if the end of the reporting period were the end of the related contingency period and the result would be dilutive. As of December 31, 2016 and December 26, 2015, there were 2.2 million and 2.5 million, respectively, additional shares issuable upon exercise of anti-dilutive options and contingent vesting of performance-based RSUs that were excluded from the diluted shares calculations.

Accounts Receivable

In the normal course of business, the Company extends credit to wholesale customers that satisfy defined credit criteria. Accounts receivable is recorded at carrying value, which approximates fair value, and is presented in the Company's consolidated balance sheets net of certain reserves and allowances. These reserves and allowances consist of (i) reserves for returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances (see the Revenue Recognition section above for further discussion of related accounting policies) and (ii) allowances for doubtful accounts.

A rollforward of the activity in the Company's reserves for returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances is presented below:



	Three Months Ended						Nine Months Ended
	December 31, 2016			December 26, 2015			December 31, 2016			December 26, 2015
	(millions)
Beginning reserve balance	$	229		$	246		$	240		$	240
Amount charged against revenue to increase reserve	151			181			479			570
Amount credited against customer accounts to decrease reserve	(172		)	(161		)	(511		)	(545		)
Foreign currency translation	(7		)	(2		)	(7		)	(1		)
Ending reserve balance	$	201		$	264		$	201		$	264

An allowance for doubtful accounts is determined through an analysis of accounts receivable aging, assessments of collectability based on an evaluation of historical and anticipated trends, the financial condition of the Company's customers, and an evaluation of the impact of economic conditions, among other factors. The Company's allowance for doubtful accounts was $12 million and $14 million as of December 31, 2016 and April 2, 2016, respectively. The change in the allowance for doubtful accounts was not material during the three-month and nine-month periods ended December 31, 2016 and December 26, 2015.

Concentration of Credit Risk

The Company sells its wholesale merchandise primarily to major department and specialty stores around the world, and extends credit based on an evaluation of each customer's financial capacity and condition, usually without requiring collateral. In the Company's wholesale business, concentration of credit risk is relatively limited due to the large number of customers and their dispersion across many geographic areas. However, the Company has three key wholesale customers that generate significant sales volume. During Fiscal 2016, the Company's sales to its largest wholesale customer, Macy's, Inc. ("Macy's"), accounted for approximately 11% of its total net revenues, and the Company's sales to its three largest wholesale customers (including Macy's) accounted for approximately 24% of total net revenues. As of December 31, 2016, these three key wholesale customers constituted approximately 28% of total gross accounts receivable.

Inventories

The Company holds inventory that is sold through wholesale distribution channels to major department stores and specialty retail stores. The Company also holds retail inventory that is sold in its own stores and e-commerce sites directly to consumers. Substantially all of the Company's inventories are comprised of finished goods, which are stated at the lower of cost or estimated realizable value, with cost primarily determined on a weighted-average cost basis. Inventory held by the Company totaled $984 million, $1.125 billion, and $1.271 billion as of December 31, 2016, April 2, 2016, and December 26, 2015, respectively.

Derivative Financial Instruments

The Company records all derivative financial instruments on its consolidated balance sheets at fair value. For derivative instruments that qualify for hedge accounting, the effective portion of changes in their fair value is either (i) offset against the changes in fair value of the related hedged assets, liabilities, or firm commitments through earnings or (ii) recognized in equity as a component of accumulated other comprehensive income (loss) ("AOCI") until the hedged item is recognized in earnings, depending on whether the derivative is being used to hedge against changes in fair value or cash flows and net investments, respectively.

Each derivative instrument that qualifies for hedge accounting is expected to be highly effective at reducing the risk associated with the exposure being hedged. For each derivative instrument that is designated as a hedge, the Company formally documents the related risk management objective and strategy, including identification of the hedging instrument, the hedged item, and the risk exposure, as well as how hedge effectiveness will be assessed prospectively and retrospectively over the instrument's term. To assess hedge effectiveness, the Company generally uses regression analysis, a statistical method, to compare the change in the fair value of the derivative instrument to the change in fair value or cash flows of the related hedged item. The extent to which a hedging instrument has been and is expected to remain highly effective in achieving offsetting changes in fair value or cash flows is assessed and documented by the Company on at least a quarterly basis.

As a result of its use of derivative instruments, the Company is exposed to the risk that counterparties to such contracts will fail to meet their contractual obligations. To mitigate this counterparty credit risk, the Company has a policy of only entering into contracts with carefully selected financial institutions based upon an evaluation of their credit ratings and certain other factors, adhering to established limits for credit exposure. The Company's established policies and procedures for mitigating credit risk from derivative transactions include ongoing review and assessment of its counterparties' creditworthiness. The Company also enters into master netting arrangements with counterparties, when possible, to mitigate credit risk associated with its derivative instruments. In the event of default or termination (as such terms are defined within the respective master netting arrangement), these arrangements allow the Company to net-settle amounts payable and receivable related to multiple derivative transactions with the same counterparty. The master netting arrangements specify a number of events of default and termination, including, among others, the failure to make timely payments.

The fair values of the Company's derivative instruments are recorded on its consolidated balance sheets on a gross basis. For cash flow reporting purposes, proceeds received or amounts paid upon the settlement of a derivative instrument are classified in the same manner as the related item being hedged, primarily within cash flows from operating activities.

Cash Flow Hedges

The Company enters into forward foreign currency exchange contracts to reduce its risk related to exchange rate fluctuations on inventory transactions, intercompany royalty payments made by certain of its international operations, and other foreign currency-denominated operational cash flows. To the extent forward foreign currency exchange contracts are designated as cash flow hedges and are highly effective in offsetting changes in the value of the hedged items, the related gains or losses are initially deferred in equity as a component of AOCI and are subsequently recognized in the consolidated statements of operations as follows:


•	Forecasted Inventory Transactions — recognized as part of the cost of the inventory being hedged within cost of goods sold when the related inventory is sold to a third party.


•	Intercompany Royalties — recognized within foreign currency gains (losses) generally in the period in which the related payments being hedged occur.

To the extent that a derivative instrument designated as a cash flow hedge is not considered effective, any change in its fair value relating to such ineffectiveness is immediately recognized in earnings within foreign currency gains (losses). If it is determined that a derivative instrument has not been highly effective, and will continue not to be highly effective in hedging the designated exposure, hedge accounting is discontinued and further gains (losses) are immediately recognized in earnings within foreign currency gains (losses). Upon discontinuance of hedge accounting, the cumulative change in fair value of the derivative instrument previously recorded in AOCI is recognized in earnings when the related hedged item affects earnings, consistent with the originally-documented hedging strategy, unless the forecasted transaction is no longer probable of occurring, in which case the accumulated amount is immediately recognized in earnings within foreign currency gains (losses).

Hedge of a Net Investment in a Foreign Operation

Changes in the fair value of a derivative instrument or the carrying value of a non-derivative instrument that is designated as a hedge of a net investment in a foreign operation are reported in the same manner as a translation adjustment, to the extent it is effective. In assessing the effectiveness of a derivative financial instrument that is designated as a hedge of a net investment, the Company uses a method based on changes in spot rates to measure the impact of foreign currency exchange rate changes on both its foreign subsidiary net investment and the related hedging instrument. If the notional amount of the instrument designated as the hedge of a net investment is greater than the portion of the net investment being hedged, hedge ineffectiveness is recognized immediately in earnings within foreign currency gains (losses). To the extent the instrument remains effective, changes in its value are recorded in equity as foreign currency translation gains (losses), a component of AOCI, and are recognized in earnings within foreign currency gains (losses) only upon the sale or liquidation of the hedged net investment.

Fair Value Hedges

Changes in the fair value of a derivative instrument that is designated as a fair value hedge, along with offsetting changes in the fair value of the related hedged item attributable to the hedged risk, are recorded in earnings. Hedge ineffectiveness is recorded in earnings to the extent that the change in the fair value of the hedged item does not offset the change in the fair value of the hedging instrument.

Undesignated Hedges

All of the Company's undesignated hedges are entered into to hedge specific economic risks, particularly foreign currency exchange rate risk related to foreign currency-denominated balances. Changes in the fair value of undesignated derivative instruments are immediately recognized in earnings within foreign currency gains (losses).

See Note 12 for further discussion of the Company's derivative financial instruments.

Refer to Note 3 of the Fiscal 2016 10-K for a summary of all of the Company's significant accounting policies.

Recently Issued Accounting Standards	9 Months Ended
Recently Issued Accounting Standards	Dec. 31, 2016
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Recently Issued Accounting Standards	Recently Issued Accounting Standards Restricted Cash In November 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2016-18, "Restricted Cash" ("ASU 2016-18"). ASU 2016-18 requires that the statement of cash flows explain the change during the period in the total of cash, cash equivalents, and restricted cash. Accordingly, restricted cash will be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. ASU 2016-18 is effective for the Company beginning in its fiscal year 2019, with early adoption permitted, and must be adopted using a retrospective approach. Other than this change in presentation within the statement of cash flows, ASU 2016-18 will not have an impact on the Company's consolidated financial statements. Improvements to Employee Share-Based Payment Accounting In March 2016, the FASB issued ASU No. 2016-09, "Improvements to Employee Share-Based Payment Accounting" ("ASU 2016-09"). ASU 2016-09 simplifies several aspects related to the accounting for and financial statement presentation of share-based payments, including the accounting for income taxes at award settlement and forfeitures, and the classification of excess tax benefits and shares surrendered for tax withholdings in the statement of cash flows. ASU 2016-09 is effective for the Company beginning in its fiscal year 2018. The adoption methodology (i.e., prospective, retrospective, or modified retrospective) varies by amendment. With respect to the accounting for income taxes at award settlement, ASU 2016-09 requires that all excess tax benefits and shortfalls be reflected in the provision for income taxes in the statement of operations in the period that they are realized. This reflects a change from current practice, which generally requires that such activity be recorded in equity as additional paid-in-capital. The impact of this change, which will be applied prospectively in the Company's consolidated financial statements, will depend largely on unpredictable future events and other factors, including the timing of employee stock option exercises and the value realized upon vesting or exercise of shares compared to the grant date fair value of those shares, and will likely result in increased volatility in the provision for income taxes. Additionally, ASU 2016-09 will change the classification of excess tax benefits from a financing activity to an operating activity in the Company’s consolidated statements of cash flows. The Company anticipates applying this change in classification on a retrospective basis. The other amendments of ASU 2016-09 are not expected to have a material impact on the Company’s consolidated financial statements. Leases In February 2016, the FASB issued ASU No. 2016-02, "Leases" ("ASU 2016-02"). ASU 2016-02 requires that, among other changes to current practice, a lessee's rights and obligations under almost all leases, including existing and new arrangements, be recognized as right-of-use assets and lease liabilities on the consolidated balance sheet. ASU 2016-02 is effective for the Company beginning in its fiscal year 2020, with early adoption permitted, and must be adopted using a modified retrospective approach which requires application of the guidance at the beginning of the earliest comparative period presented. The Company is currently in the process of evaluating the impact that ASU 2016-02 will have on its consolidated financial statements and related disclosures, but expects that it will result in a significant increase to its long-term assets and liabilities. Revenue from Contracts with Customers In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers" ("ASU 2014-09"). ASU 2014-09 provides a single, comprehensive accounting model for revenues arising from contracts with customers that will supersede most existing revenue recognition guidance, including industry-specific guidance. Under this model, revenue is recognized at an amount that an entity expects to be entitled to upon transferring control of goods or services to a customer, as opposed to when risks and rewards transfer to a customer under existing revenue recognition guidance. In August 2015, the FASB issued ASU No. 2015-14, "Revenue from Contracts with Customers — Deferral of the Effective Date," which deferred the effective date of ASU 2014-09 by one year. Accordingly, ASU 2014-09 is effective for the Company beginning in its fiscal year 2019. The FASB has since issued several additional ASUs to further amend and clarify certain topics within ASU 2014-09. ASU 2014-09 may be applied retrospectively to all prior periods presented or through a cumulative adjustment to the opening retained earnings balance in the year of adoption. The Company is currently in the process of evaluating the impact that ASU 2014-09 will have on its consolidated financial statements and related disclosures.

Property and Equipment

9 Months Ended

Dec. 31, 2016

Property, Plant and Equipment [Abstract]

Property and Equipment

Property and equipment, net consists of the following:



	December 31, 2016			April 2, 2016
	(millions)
Land and improvements	$	17		$	17
Buildings and improvements	456			460
Furniture and fixtures	698			727
Machinery and equipment	406			359
Capitalized software	540			460
Leasehold improvements	1,263			1,248
Construction in progress	134			216
	3,514			3,487
Less: accumulated depreciation	(2,000		)	(1,904		)
Property and equipment, net	$	1,514		$	1,583

Other Assets and Liabilities

9 Months Ended

Dec. 31, 2016

Balance Sheet Related Disclosures [Abstract]

Other Assets and Liabilities

Prepaid expenses and other current assets consist of the following:



	December 31, 2016		April 2, 2016
	(millions)
Other taxes receivable	$	119	$	112
Derivative financial instruments	60		16
Prepaid rent expense	39		37
Tenant allowances receivable	16		13
Prepaid samples	11		9
Restricted cash	9		17
Prepaid advertising and marketing	6		7
Other prepaid expenses and current assets	61		57
Total prepaid expenses and other current assets	$	321	$	268

Other non-current assets consist of the following:



	December 31, 2016		April 2, 2016
	(millions)
Non-current investments	$	82	$	187
Restricted cash	33		29
Security deposits	29		32
Derivative financial instruments	19		6
Other non-current assets	39		42
Total other non-current assets	$	202	$	296

Accrued expenses and other current liabilities consist of the following:



	December 31, 2016		April 2, 2016
	(millions)
Accrued operating expenses	$	209	$	186
Accrued payroll and benefits	177		149
Accrued inventory	160		176
Other taxes payable	155		139
Restructuring reserve	85		40
Accrued capital expenditures	56		65
Dividends payable	41		41
Deferred income	34		50
Capital lease obligations	22		21
Derivative financial instruments	9		26
Other accrued expenses and current liabilities	7		5
Total accrued expenses and other current liabilities	$	955	$	898

Other non-current liabilities consist of the following:



	December 31, 2016		April 2, 2016
	(millions)
Capital lease obligations	$	252	$	266
Deferred rent obligations	208		222
Deferred tax liabilities	14		17
Derivative financial instruments	9		33
Deferred compensation	8		8
Other non-current liabilities	48		47
Total other non-current liabilities	$	539	$	593

Impairment of Assets	9 Months Ended
Impairment of Assets	Dec. 31, 2016
Asset Impairment Charges [Abstract]
Impairment of Assets	Impairment of Assets During the three-month and nine-month periods ended December 31, 2016, the Company recorded non-cash impairment charges of $11 million and $57 million, respectively, primarily to write off certain fixed assets related to its domestic and international stores and shop-within-shops in connection with the Way Forward Plan (see Note 8). During the three-month and nine-month periods ended December 26, 2015, the Company recorded non-cash impairment charges of $9 million and $24 million, respectively, primarily to write off certain fixed assets related to its domestic and international stores and shop-within-shops in connection with the Global Reorganization Plan (see Note 8).

Restructuring and Other Charges

9 Months Ended

Dec. 31, 2016

Restructuring and Related Activities [Abstract]

Restructuring and Other Charges

A description of significant restructuring and other activities and related costs is included below.

Way Forward Plan

On June 2, 2016, the Company's Board of Directors approved a restructuring plan with the objective of delivering sustainable, profitable sales growth and long-term value creation for shareholders (the "Way Forward Plan"). The Company plans to refocus on its core brands and evolve its product, marketing, and shopping experience to increase desirability and relevance. It also intends to evolve its operating model to enable sustainable, profitable sales growth by significantly reducing supply chain lead times, improving its sourcing, and executing a disciplined multi-channel distribution and expansion strategy. As part of the Way Forward Plan, the Company plans to rightsize its cost structure and implement a return on investment-driven financial model to free up resources to invest in the brand and drive high-quality sales. The Way Forward Plan includes strengthening the Company's leadership team and creating a more nimble organization by moving from an average of nine to six layers of management. The Way Forward Plan will result in a reduction in workforce and the closure of certain stores, and is expected to be substantially completed by the end of Fiscal 2017.

In connection with the Way Forward Plan, the Company currently expects to incur total estimated charges of approximately $400 million, comprised of cash-related restructuring charges of approximately $300 million and non-cash charges of approximately $100 million. The Company also expects to incur an additional non-cash charge of up to $150 million associated with the reduction of inventory out of current liquidation channels in line with its Way Forward Plan. The Company's assessment of restructuring-related activities is still ongoing and incremental charges beyond this range may be incurred.

In addition to the Way Forward Plan, the Company also expects to incur total estimated charges of approximately $20 million over the course of the fourth quarter of Fiscal 2017 and the first quarter of the Company's fiscal year ending March 31, 2018 ("Fiscal 2018") in connection with the planned departure of the Company's Chief Executive Officer (see Note 19).

A summary of the charges recorded in connection with the Way Forward Plan during the three-month and nine-month periods ended December 31, 2016 is as follows:



	December 31, 2016
	Three Months Ended		Nine Months Ended
	(millions)
Cash-related restructuring charges:
Severance and benefit costs	$	14	$	116
Lease termination and store closure costs	49		64
Other cash charges	3		9
Total cash-related restructuring charges	66		189
Non-cash charges:
Impairment of assets (see Note 7)	11		57
Inventory-related charges^(a)	14		149
Total non-cash charges	25		206
Total charges	$	91	$	395


^(a)	Includes charges of $11 million and $125 million associated with the reduction of inventory out of current liquidation channels for the three-month and nine-month periods ended December 31, 2016, respectively. Inventory-related charges are recorded within cost of goods sold in the consolidated statements of operations.

A summary of the activity in the restructuring reserve related to the Way Forward Plan is as follows:



	Severance and Benefit Costs			Lease Termination and Store Closure Costs			Other Cash Charges			Total
	(millions)
Balance at April 2, 2016	$	—		$	—		$	—		$	—
Additions charged to expense	116			64			9			189
Cash payments charged against reserve	(65		)	(50		)	(7		)	(122		)
Foreign currency translation	(1		)	(1		)	—			(2		)
Balance at December 31, 2016	$	50		$	13		$	2		$	65

Global Reorganization Plan

On May 12, 2015, the Company's Board of Directors approved a reorganization and restructuring plan comprised of the following major actions: (i) the reorganization of the Company from its historical channel and regional structure to an integrated global brand-based operating structure, which will streamline the Company's business processes to better align its cost structure with its long-term growth strategy; (ii) a strategic store and shop-within-shop performance review conducted by region and brand; (iii) a targeted corporate functional area review; and (iv) the consolidation of certain of the Company's luxury lines (collectively, the "Global Reorganization Plan"). Actions associated with the Global Reorganization Plan resulted in a reduction in workforce and the closure of certain stores and shop-within-shops.

A summary of the charges recorded in connection with the Global Reorganization Plan during the three-month and nine-month periods ended December 31, 2016 and December 26, 2015, as well as the cumulative charges recorded since its inception, is as follows:



	Three Months Ended				Nine Months Ended
	December 31, 2016		December 26, 2015		December 31, 2016		December 26, 2015		Cumulative Charges
	(millions)
Cash-related restructuring charges:
Severance and benefit costs	$	—	$	11	$	5	$	49	$	69
Lease termination and store closure costs	—		—		—		7		8
Other cash charges^(a)	—		3		—		11		14
Total cash-related restructuring charges	—		14		5		67		91
Non-cash charges:
Impairment of assets (see Note 7)	—		9		—		24		27
Accelerated stock-based compensation expense^(b)	—		9		—		9		9
Inventory-related charges^(c)	—		10		—		13		20
Total non-cash charges	—		28		—		46		56
Total charges	$	—	$	42	$	5	$	113	$	147


^(a)	Other cash charges primarily consisted of consulting fees recorded in connection with the Global Reorganization Plan.


^(b)	Accelerated stock-based compensation expense, which is recorded within restructuring and other charges in the consolidated statements of operations, was recorded in connection with vesting provisions associated with certain separation agreements.


^(c)	Inventory-related charges are recorded within cost of goods sold in the consolidated statements of operations.

Actions associated with the Global Reorganization Plan are now complete and no additional charges are expected to be incurred in relation to this plan.

A summary of current period activity in the restructuring reserve related to the Global Reorganization Plan is as follows:



	Severance and Benefit Costs			Lease Termination and Store Closure Costs			Other Cash Charges			Total
	(millions)
Balance at April 2, 2016	$	31		$	6		$	3		$	40
Additions charged to expense	5			—			—			5
Cash payments charged against reserve	(21		)	(2		)	(2		)	(25		)
Balance at December 31, 2016	$	15		$	4		$	1		$	20

Other Charges

During both the three-month and nine-month periods ended December 26, 2015, the Company recorded other charges of $34 million related to its pending customs audit (see Note 13). Additionally, during the three-month and nine-month periods ended December 26, 2015, the Company recorded other charges of $1 million and $13 million, respectively, primarily related to the settlement of certain litigation claims.

Income Taxes	9 Months Ended
Income Taxes	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Effective Tax Rate The Company's effective tax rate, which is calculated by dividing each fiscal period's provision for income taxes by pretax income, was 34.0% and 36.0% during the three-month and nine-month periods ended December 31, 2016, respectively, and 27.5% and 27.6% during the three-month and nine-month periods ended December 26, 2015, respectively, all in comparison to the U.S. federal statutory income tax rate of 35%. The effective tax rates for the three-month and nine-month periods ended December 31, 2016 reflected the favorable impact of the proportion of earnings generated in lower taxed foreign jurisdictions versus the U.S., partially offset by valuation allowances and adjustments recorded on deferred tax assets, certain nondeductible expenses, and unrecognized tax benefits recorded on current year tax positions. The effective tax rate for the nine months ended December 31, 2016 also reflected the unfavorable impact of additional income tax reserves associated with an income tax settlement and certain income tax audits. The effective tax rates for the three-month and nine-month periods ended December 26, 2015 were lower than the statutory income tax rate as a result of the proportion of earnings generated in lower taxed foreign jurisdictions versus the U.S. The effective tax rate for the three months ended December 26, 2015 was also favorably impacted by tax benefits associated with provision to tax return adjustments. The effective tax rate for the nine months ended December 26, 2015 was also favorably impacted by the reversal of certain tax reserves as a result of the expiration of statutes of limitations and a change in estimate related to the assessment period of certain tax liabilities, as discussed below. During the second quarter of Fiscal 2016, the Company concluded, with the assistance of a third-party consultant, that based on recent audit settlements and taxpayer audit trends, the assessment period associated with certain tax liabilities established under ASC Topic 740, "Income Taxes," should be reduced. This change was considered a change in estimate for accounting purposes and the related impact was recorded during the second quarter of Fiscal 2016. This change lowered the Company's provision for income taxes by $8 million, including interest and penalties, and net of deferred tax asset reversals, and increased basic and diluted earnings per share by $0.09 for the nine-month period ended December 26, 2015. Uncertain Income Tax Benefits The Company classifies interest and penalties related to unrecognized tax benefits as part of its provision for income taxes. The total amount of unrecognized tax benefits, including interest and penalties, was $77 million and $81 million as of December 31, 2016 and April 2, 2016, respectively, and is included within non-current liability for unrecognized tax benefits in the consolidated balance sheets. The net reduction of $4 million in unrecognized tax benefits, including interest and penalties, primarily related to settlements with taxing authorities of $12 million and state reserve releases of $3 million, partially offset by an increase of $8 million related to an income tax settlement and certain income tax audits, and an increase of $3 million related to other unrecognized tax benefit adjustments during the fiscal year. The total amount of unrecognized tax benefits that, if recognized, would affect the Company's effective tax rate was $60 million as of both December 31, 2016 and April 2, 2016. Future Changes in Unrecognized Tax Benefits The total amount of unrecognized tax benefits relating to the Company's tax positions is subject to change based on future events including, but not limited to, settlements of ongoing tax audits and assessments and the expiration of applicable statutes of limitations. Although the outcomes and timing of such events are highly uncertain, the Company does not anticipate that the balance of gross unrecognized tax benefits, excluding interest and penalties, will change significantly during the next twelve months. However, the Company does expect a decrease of approximately $16 million of interest currently included in unrecognized tax benefits due to a change in tax law during the fourth quarter of Fiscal 2017. Changes in the occurrence, expected outcomes, and timing of such events could cause the Company's current estimate to change materially in the future. The Company files a consolidated U.S. federal income tax return, as well as tax returns in various state, local, and foreign jurisdictions. The Company is generally no longer subject to examinations by the relevant tax authorities for years prior to its fiscal year ended April 1, 2006.

Debt

9 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Debt

Debt consists of the following:



	December 31, 2016		April 2, 2016
	(millions)
$300 million 2.125% Senior Notes^(a)	$	298	$	301
$300 million 2.625% Senior Notes^(b)	291		296
Commercial paper notes	—		90
Borrowings outstanding under credit facilities	—		26
Total debt	589		713
Less: short-term debt	—		116
Total long-term debt	$	589	$	597

^(a)

During Fiscal 2016, the Company entered into an interest rate swap contract which it designated as a hedge against changes in the fair value of its fixed-rate 2.125% Senior Notes (see Note 12). Accordingly, the carrying value of the 2.125% Senior Notes as of December 31, 2016 and April 2, 2016 reflects adjustments of $1 million and $2 million, respectively, for the change in fair value attributable to the benchmark interest rate. The carrying value of the 2.125% Senior Notes is also net of unamortized debt issuance costs and discount of $1 million as of both December 31, 2016 and April 2, 2016.

^(b)

During Fiscal 2016, the Company entered into an interest rate swap contract which it designated as a hedge against changes in the fair value of its fixed-rate 2.625% Senior Notes (see Note 12). Accordingly, the carrying value of the 2.625% Senior Notes as of December 31, 2016 and April 2, 2016 reflects adjustments of $7 million and $2 million, respectively, for the change in fair value attributable to the benchmark interest rate. The carrying value of the 2.625% Senior Notes is also net of unamortized debt issuance costs and discount of $2 million as of both December 31, 2016 and April 2, 2016.

Senior Notes

In September 2013, the Company completed a registered public debt offering and issued $300 million aggregate principal amount of unsecured senior notes due September 26, 2018, which bear interest at a fixed rate of 2.125%, payable semi-annually (the "2.125% Senior Notes"). The 2.125% Senior Notes were issued at a price equal to 99.896% of their principal amount. The proceeds from this offering were used for general corporate purposes, including repayment of the Company's previously outstanding €209 million principal amount of 4.5% Euro-denominated notes, which matured on October 4, 2013.

In August 2015, the Company completed a second registered public debt offering and issued an additional $300 million aggregate principal amount of unsecured senior notes due August 18, 2020, which bear interest at a fixed rate of 2.625%, payable semi-annually (the "2.625% Senior Notes"). The 2.625% Senior Notes were issued at a price equal to 99.795% of their principal amount. The proceeds from this offering were used for general corporate purposes.

The Company has the option to redeem the 2.125% Senior Notes and 2.625% Senior Notes (collectively, the "Senior Notes"), in whole or in part, at any time at a price equal to accrued and unpaid interest on the redemption date, plus the greater of (i) 100% of the principal amount of the series of Senior Notes to be redeemed or (ii) the sum of the present value of Remaining Scheduled Payments, as defined in the supplemental indentures governing such Senior Notes (together with the indenture governing the Senior Notes, the "Indenture"). The Indenture contains certain covenants that restrict the Company's ability, subject to specified exceptions, to incur certain liens; enter into sale and leaseback transactions; consolidate or merge with another party; or sell, lease, or convey all or substantially all of the Company's property or assets to another party. However, the Indenture does not contain any financial covenants.

Commercial Paper

In May 2014, the Company initiated a commercial paper borrowing program (the "Commercial Paper Program") that allowed it to issue up to $300 million of unsecured commercial paper notes through private placement using third-party broker-dealers. In May 2015, the Company expanded its Commercial Paper Program to allow for a total issuance of up to $500 million of unsecured commercial paper notes.

Borrowings under the Commercial Paper Program are supported by the Global Credit Facility, as defined below. Accordingly, the Company does not expect combined borrowings outstanding under the Commercial Paper Program and Global Credit Facility to exceed $500 million. Commercial Paper Program borrowings may be used to support the Company's general working capital and corporate needs. Maturities of commercial paper notes vary, but cannot exceed 397 days from the date of issuance. Commercial paper notes issued under the Commercial Paper Program rank equally with the Company's other forms of unsecured indebtedness. As of December 31, 2016, there were no borrowings outstanding under the Commercial Paper Program.

Revolving Credit Facilities

Global Credit Facility

In February 2015, the Company entered into an amended and restated credit facility (which was further amended in March 2016) that provides for a $500 million senior unsecured revolving line of credit through February 11, 2020 (the "Global Credit Facility") under terms and conditions substantially similar to those previously in effect. The Global Credit Facility is also used to support the issuance of letters of credit and the maintenance of the Commercial Paper Program. Borrowings under the Global Credit Facility may be denominated in U.S. Dollars and other currencies, including Euros, Hong Kong Dollars, and Japanese Yen. The Company has the ability to expand its borrowing availability under the Global Credit Facility to $750 million, subject to the agreement of one or more new or existing lenders under the facility to increase their commitments. There are no mandatory reductions in borrowing ability throughout the term of the Global Credit Facility. As of December 31, 2016, there were no borrowings outstanding under the Global Credit Facility and the Company was contingently liable for $8 million of outstanding letters of credit.

The Global Credit Facility contains a number of covenants that, among other things, restrict the Company's ability, subject to specified exceptions, to incur additional debt; incur liens; sell or dispose of assets; merge with or acquire other companies; liquidate or dissolve itself; engage in businesses that are not in a related line of business; make loans, advances, or guarantees; engage in transactions with affiliates; and make certain investments. The Global Credit Facility also requires the Company to maintain a maximum ratio of Adjusted Debt to Consolidated EBITDAR (the "leverage ratio") of no greater than 3.75 as of the date of measurement for the four most recent consecutive fiscal quarters. Adjusted Debt is defined generally as consolidated debt outstanding plus four times consolidated rent expense for the four most recent consecutive fiscal quarters. Consolidated EBITDAR is defined generally as consolidated net income plus (i) income tax expense, (ii) net interest expense, (iii) depreciation and amortization expense, (iv) consolidated rent expense, (v) restructuring and other non-recurring expenses, and (vi) acquisition-related costs. As of December 31, 2016, no Event of Default (as such term is defined pursuant to the Global Credit Facility) has occurred under the Company's Global Credit Facility.

Pan-Asia Credit Facilities

Certain of the Company's subsidiaries in Asia have uncommitted credit facilities with regional branches of JPMorgan Chase (the "Banks") in China and South Korea (the "Pan-Asia Credit Facilities"). These credit facilities are subject to annual renewal and may be used to fund general working capital and corporate needs of the Company's operations in the respective countries. Borrowings under the Pan-Asia Credit Facilities are guaranteed by the parent company and are granted at the sole discretion of the Banks, subject to availability of the Banks' funds and satisfaction of certain regulatory requirements. The Pan-Asia Credit Facilities do not contain any financial covenants. The Company's Pan-Asia Credit Facilities by country are as follows:


•	China Credit Facility — provides Ralph Lauren Trading (Shanghai) Co., Ltd. with a revolving line of credit of up to 100 million Chinese Renminbi (approximately $14 million) through April 6, 2017, and may also be used to support bank guarantees.


•	South Korea Credit Facility — provides Ralph Lauren (Korea) Ltd. with a revolving line of credit of up to 47 billion South Korean Won (approximately $39 million) through October 31, 2017.

During the first quarter of Fiscal 2017, the Company repaid $26 million in borrowings that were previously outstanding under the Pan-Asia Credit Facilities. As of December 31, 2016, there were no borrowings outstanding under the Pan-Asia Credit Facilities.

Refer to Note 13 of the Fiscal 2016 10-K for additional disclosure of the terms and conditions of the Company's debt and credit facilities.

Fair Value Measurements

9 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

Fair Value Measurements

U.S. GAAP establishes a three-level valuation hierarchy for disclosure of fair value measurements. The determination of the applicable level within the hierarchy for a particular asset or liability depends on the inputs used in its valuation as of the measurement date, notably the extent to which the inputs are market-based (observable) or internally-derived (unobservable). A financial instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The three levels are defined as follows:


•	Level 1 — inputs to the valuation methodology based on quoted prices (unadjusted) for identical assets or liabilities in active markets.

•

Level 2 — inputs to the valuation methodology based on quoted prices for similar assets or liabilities in active markets for substantially the full term of the financial instrument; quoted prices for identical or similar instruments in markets that are not active for substantially the full term of the financial instrument; and model-derived valuations whose inputs or significant value drivers are observable.


•	Level 3 — inputs to the valuation methodology based on unobservable prices or valuation techniques that are significant to the fair value measurement.

The following table summarizes the Company's financial assets and liabilities that are measured and recorded at fair value on a recurring basis, excluding accrued interest components:



	December 31, 2016		April 2, 2016
	(millions)
Financial assets recorded at fair value:
Corporate bonds — non-U.S.^(a)	$	7	$	8
Derivative financial instruments^(b)	79		22
Total	$	86	$	30
Financial liabilities recorded at fair value:
Derivative financial instruments^(b)	$	18	$	59
Total	$	18	$	59


^(a)	Based on Level 1 measurements.


^(b)	Based on Level 2 measurements.

To the extent the Company invests in bonds, such investments are classified as available-for-sale and recorded at fair value in its consolidated balance sheets based upon quoted prices in active markets.

The Company's derivative financial instruments are recorded at fair value in its consolidated balance sheets and are valued using pricing models that are primarily based on market observable external inputs, including spot and forward currency exchange rates, benchmark interest rates, and discount rates consistent with the instrument's tenor, and consider the impact of the Company's own credit risk, if any. Changes in counterparty credit risk are also considered in the valuation of derivative financial instruments.

The Company's cash and cash equivalents, restricted cash, and time deposits are recorded at carrying value, which approximates fair value based on Level 1 measurements.

The Company's debt instruments are recorded at their carrying values in its consolidated balance sheets, which may differ from their respective fair values. The fair values of the Senior Notes are estimated based on external pricing data, including available quoted market prices, and with reference to comparable debt instruments with similar interest rates, credit ratings, and trading frequency, among other factors. The fair values of the Company's commercial paper notes and borrowings outstanding under its credit facilities are estimated using external pricing data, based on interest rates and credit ratings for similar issuances with the same remaining term as the Company's outstanding borrowings. Due to their short-term nature, the fair values of the Company's commercial paper notes and borrowings outstanding under its credit facilities approximate their carrying values for the periods presented.

The following table summarizes the carrying values and the estimated fair values of the Company's debt instruments:



	December 31, 2016					April 2, 2016
	Carrying Value			Fair Value^(a)		Carrying Value			Fair Value^(a)
	(millions)
$300 million 2.125% Senior Notes	$	298	^(b)	$	303	$	301	^(b)	$	306
$300 million 2.625% Senior Notes	291		^(b)	303		296		^(b)	308
Commercial paper notes	—			—		90			90
Borrowings outstanding under credit facilities	—			—		26			26


^(a)	Based on Level 2 measurements.


^(b)	See Note 10 for discussion of the carrying values of the Company's Senior Notes as of December 31, 2016 and April 2, 2016.

Unrealized gains or losses resulting from changes in the fair value of the Company's debt do not result in the realization or expenditure of cash, unless the debt is retired prior to its maturity.

Non-financial Assets and Liabilities

The Company's non-financial assets, which primarily consist of goodwill, other intangible assets, and property and equipment, are not required to be measured at fair value on a recurring basis and are reported at carrying value. However, on a periodic basis or whenever events or changes in circumstances indicate that their carrying value may not be fully recoverable (and at least annually for goodwill and indefinite-lived intangible assets), non-financial instruments are assessed for impairment and, if applicable, written down to and recorded at fair value, considering external market participant assumptions.

During the nine-month periods ended December 31, 2016 and December 26, 2015, the Company recorded non-cash impairment charges of $57 million and $24 million, respectively, to fully write off the carrying values of certain long-lived store and shop-within-shop assets based upon their assumed fair values of zero. The fair values of these assets were determined based on Level 3 measurements. Inputs to these fair value measurements included estimates of the amount and timing of the stores' and shop-within-shops' net future discounted cash flows based on historical experience, current trends, and market conditions. See Note 7 for further discussion of the non-cash impairment charges recorded by the Company during the fiscal periods presented.

No goodwill impairment charges were recorded during either of the nine-month periods ended December 31, 2016 or December 26, 2015. The Company performed its annual goodwill impairment assessment using a qualitative approach as of the beginning of the second quarter of Fiscal 2017. In performing the assessment, the Company identified and considered the significance of relevant key factors, events, and circumstances that affected the fair values and/or carrying amounts of its reporting units. These factors included external factors such as macroeconomic, industry, and market conditions, as well as entity-specific factors, such as the Company's actual and planned financial performance. Additionally, the results of the Company's most recent quantitative goodwill impairment test indicated that the fair values of its reporting units significantly exceeded their respective carrying values. Based on the results of its qualitative goodwill impairment assessment, the Company concluded that it is not more likely than not that the fair values of its reporting units are less than their respective carrying values, and there were no reporting units at risk of impairment.

Financial Instruments

9 Months Ended

Dec. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments

Derivative Financial Instruments

The Company is exposed to changes in foreign currency exchange rates, primarily relating to certain anticipated cash flows and the value of the reported net assets of its international operations, as well as changes in the fair value of its fixed-rate debt attributed to changes in the benchmark interest rate. Consequently, the Company uses derivative financial instruments to manage and mitigate such risks. The Company does not enter into derivative transactions for speculative or trading purposes.

The following table summarizes the Company's outstanding derivative instruments on a gross basis as recorded in its consolidated balance sheets as of December 31, 2016 and April 2, 2016:



	Notional Amounts				Derivative Assets						Derivative Liabilities
Derivative Instrument^(a)	December 31, 2016		April 2, 2016		December 31, 2016			April 2, 2016			December 31, 2016			April 2, 2016
					Balance Sheet Line^(b)	Fair Value		Balance Sheet Line^(b)	Fair Value		Balance Sheet Line^(b)	Fair Value		Balance Sheet Line^(b)	Fair Value
	(millions)
Designated Hedges:
FC — Cash flow hedges	$	594	$	742	^(d)	$	35	PP	$	1	ONCL	$	1	AE	$	23
IRS — Fixed-rate debt	600		600		—	—		ONCA	2		ONCL	8		ONCL	2
CCS — NI	577		630		ONCA	15		—	—		—	—		ONCL	31
Total Designated Hedges	$	1,771	$	1,972		$	50		$	3		$	9		$	56
Undesignated Hedges:
FC — Undesignated hedges^(c)	$	539	$	541	PP	$	29	^(e)	$	19	AE	$	9	AE	$	3
Total Hedges	$	2,310	$	2,513		$	79		$	22		$	18		$	59


^(a)	FC = Forward foreign currency exchange contracts; IRS = Interest rate swap contracts; CCS = Cross-currency swap contracts; NI = Net investment hedges.


^(b)	PP = Prepaid expenses and other current assets; AE = Accrued expenses and other current liabilities; ONCA = Other non-current assets; ONCL = Other non-current liabilities.


^(c)	Primarily includes undesignated hedges of foreign currency-denominated intercompany loans and other intercompany balances.


^(d)	$31 million included within prepaid expenses and other current assets and $4 million included within other non-current assets.


^(e)	$15 million included within prepaid expenses and other current assets and $4 million included within other non-current assets.

The Company records and presents the fair values of all of its derivative assets and liabilities in its consolidated balance sheets on a gross basis, even though they are subject to master netting arrangements. However, if the Company were to offset and record the asset and liability balances of all of its derivative instruments on a net basis in accordance with the terms of each of its master netting arrangements, spread across eight separate counterparties, the amounts presented in the consolidated balance sheets as of December 31, 2016 and April 2, 2016 would be adjusted from the current gross presentation as detailed in the following table:



	December 31, 2016							April 2, 2016
Derivative Instrument	Gross Amounts Presented in the Balance Sheet		Gross Amounts Not Offset in the Balance Sheet that are Subject to Master Netting Agreements			Net Amount		Gross Amounts Presented in the Balance Sheet		Gross Amounts Not Offset in the Balance Sheet that are Subject to Master Netting Agreements			Net Amount
	(millions)
Derivative assets	$	79	$	(15	)	$	64	$	22	$	(11	)	$	11
Derivative liabilities	$	18	$	(15	)	$	3	$	59	$	(11	)	$	48

The Company's master netting arrangements do not require cash collateral to be pledged by the Company or its counterparties. See Note 3 for further discussion of the Company's master netting arrangements.

The following tables summarize the pretax impact of the effective portion of gains and losses from the Company's designated derivative instruments on its consolidated financial statements for the three-month and nine-month periods ended December 31, 2016 and December 26, 2015:



	Gains (Losses) Recognized in OCI
	Three Months Ended				Nine Months Ended
Derivative Instrument	December 31, 2016		December 26, 2015		December 31, 2016		December 26, 2015
	(millions)
Designated Hedges:
FC — Cash flow hedges	$	58	$	4	$	47	$	4
CCS — NI^(a)	38		6		45		(7		)
Total Designated Hedges	$	96	$	10	$	92	$	(3	)



	Gains (Losses) Reclassified from AOCI to Earnings										Location of Gains (Losses) Reclassified from AOCI to Earnings
	Three Months Ended					Nine Months Ended
Derivative Instrument	December 31, 2016			December 26, 2015		December 31, 2016			December 26, 2015
	(millions)
Designated Hedges:
FC — Cash flow hedges	$	(3	)	$	13	$	(4	)	$	29	Cost of goods sold
FC — Cash flow hedges	9			—		3			—		Foreign currency gains (losses)
Total Designated Hedges	$	6		$	13	$	(1	)	$	29


^(a)	Amounts recognized in OCI would be recognized in earnings only upon the sale or liquidation of the hedged net investment.

As of December 31, 2016, it is expected that $31 million of net gains on both outstanding and matured derivative instruments deferred in AOCI will be recognized in earnings over the next twelve months. The amounts ultimately recognized in earnings will depend on exchange rates in effect when outstanding derivative instruments are settled. No material gains or losses relating to ineffective cash flow hedges were recognized during any of the fiscal periods presented.

The following table summarizes the pretax impact of gains and losses from the Company's undesignated derivative instruments on its consolidated financial statements for the three-month and nine-month periods ended December 31, 2016 and December 26, 2015:



	Gains (Losses) Recognized in Earnings								Location of Gains (Losses) Recognized in Earnings
	Three Months Ended				Nine Months Ended
Derivative Instrument	December 31, 2016		December 26, 2015		December 31, 2016		December 26, 2015
	(millions)
Undesignated Hedges:
FC — Undesignated hedges	$	14	$	2	$	3	$	4	Foreign currency gains (losses)
Total Undesignated Hedges	$	14	$	2	$	3	$	4

Risk Management Strategies

Forward Foreign Currency Exchange Contracts

The Company enters into forward foreign currency exchange contracts to reduce its risk related to exchange rate fluctuations on inventory transactions made in an entity's non-functional currency, intercompany royalty payments made by certain of its international operations, and other foreign currency-denominated operational and intercompany balances and cash flows. As part of its overall strategy to manage the level of exposure to the risk of foreign currency exchange rate fluctuations, primarily to changes in the value of the Euro, the Japanese Yen, the South Korean Won, the Australian Dollar, the Canadian Dollar, the British Pound Sterling, and the Hong Kong Dollar, the Company hedges a portion of its foreign currency exposures anticipated over a two-year period. In doing so, the Company uses forward foreign currency exchange contracts that generally have maturities of two months to two years to provide continuing coverage throughout the hedging period.

Interest Rate Swap Contracts

During Fiscal 2016, the Company entered into two pay-floating rate, receive-fixed rate interest rate swap contracts which it designated as hedges against changes in the respective fair values of its fixed-rate 2.125% Senior Notes and its fixed-rate 2.625% Senior Notes attributed to changes in the benchmark interest rate (the "Interest Rate Swaps"). The Interest Rate Swaps, which mature on September 26, 2018 and August 18, 2020, respectively, both have notional amounts of $300 million and swap the fixed interest rates on the Company's 2.125% Senior Notes and 2.625% Senior Notes for variable interest rates based on the 3-month London Interbank Offered Rate ("LIBOR") plus a fixed spread. Changes in the fair values of the Interest Rate Swaps were offset by changes in the fair values of the 2.125% Senior Notes and 2.625% Senior Notes attributed to changes in the benchmark interest rate, with no resulting ineffectiveness recognized in earnings during any of the fiscal periods presented.

Cross-Currency Swap Contracts

During Fiscal 2016, the Company entered into two pay-floating rate, receive-floating rate cross-currency swap contracts, with notional amounts of €280 million and €274 million, which it designated as hedges of its net investment in certain of its European subsidiaries (the "Cross-Currency Swaps"). The Cross-Currency Swaps, which mature on September 26, 2018 and August 18, 2020, respectively, swap the U.S. Dollar-denominated variable interest rate payments based on 3-month LIBOR plus a fixed spread (as paid under the Interest Rate Swaps described above) for Euro-denominated variable interest rate payments based on the 3-month Euro Interbank Offered Rate plus a fixed spread. As a result, the Cross-Currency Swaps, in conjunction with the Interest Rate Swaps, economically convert the Company's $300 million fixed-rate 2.125% and $300 million fixed-rate 2.625% obligations to €280 million and €274 million floating-rate Euro-denominated liabilities, respectively. No material gains or losses related to the ineffective portion, or the amount excluded from effectiveness testing, were recognized in interest expense within the consolidated statements of operations during any of the fiscal periods presented.

See Note 3 for further discussion of the Company's accounting policies relating to its derivative financial instruments.

Investments

As of December 31, 2016, the Company's short-term investments consisted of $446 million of time deposits and $7 million of non-U.S. corporate bonds, and its non-current investments consisted of $82 million of time deposits. As of April 2, 2016, the Company's short-term investments consisted of $621 million of time deposits and $8 million of non-U.S. corporate bonds, and its non-current investments consisted of $187 million of time deposits. The Company's non-current investments as of both December 31, 2016 and April 2, 2016 had maturities of one to two years.

No significant realized or unrealized gains or losses on available-for-sale investments or other-than-temporary impairment charges were recorded during any of the fiscal periods presented.

Refer to Note 3 of the Fiscal 2016 10-K for further discussion of the Company's accounting policies relating to its investments.

Commitments and Contingencies	9 Months Ended
Commitments and Contingencies	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Customs Audit In September 2014, one of the Company's international subsidiaries received a pre-assessment notice from the relevant customs officials concerning the method used to determine the dutiable value of imported inventory. The notice communicated the customs officials' assertion that the Company should have applied an alternative duty method, which could result in up to $46 million in incremental duty and non-creditable value-added tax, including $11 million in interest and penalties. The Company believes that the alternative duty method claimed by the customs officials is not applicable to the Company's facts and circumstances and is vigorously contesting their asserted methodology. In October 2014, the Company filed an appeal of the pre-assessment notice in accordance with the standard procedures established by the relevant customs authorities. In response to the filing of the Company's appeal of the pre-assessment notice, the review committee instructed the customs officials to reconsider their assertion of the alternative duty method and conduct a re-audit to evaluate the facts and circumstances noted in the pre-assessment notice. In December 2015, the Company received the results of the re-audit conducted and a customs audit assessment notice in the amount of $34 million, which the Company recorded within restructuring and other charges in its consolidated statements of operations during the third quarter of Fiscal 2016 (see Note 8). Although the Company disagrees with the assessment notice, in order to secure the Company's rights, the Company was required to pay the assessment amount and then subsequently file an appeal with the customs authorities. The Company continues to maintain its original filing position and will vigorously contest any other proposed methodology asserted by the customs officials. Should the Company be successful in its merits, a full refund for the amounts paid plus interest will be required to be paid by the customs authorities. If the Company is unsuccessful in its current appeal with the customs authorities, it may further appeal this decision within the courts. At this time, while the Company believes that the customs officials' claims are not meritorious and that the Company should prevail, the outcome of the appeals process is subject to risk and uncertainty. Other Matters The Company is involved, from time to time, in litigation, other legal claims, and proceedings involving matters associated with or incidental to its business, including, among other things, matters involving credit card fraud, trademark and other intellectual property, licensing, importation and exportation of its products, taxation, unclaimed property, and employee relations. The Company believes at present that the resolution of currently pending matters will not individually or in the aggregate have a material adverse effect on its consolidated financial statements. However, the Company's assessment of any current litigation or other legal claims could potentially change in light of the discovery of facts not presently known or determinations by judges, juries, or other finders of fact which are not in accord with management's evaluation of the possible liability or outcome of such litigation or claims. In the normal course of business, the Company enters into agreements that provide general indemnifications. The Company has not made any significant indemnification payments under such agreements in the past, and does not currently anticipate incurring any material indemnification payments.

Equity

9 Months Ended

Dec. 31, 2016

Equity [Abstract]

Equity

Summary of Changes in Equity

A reconciliation of the beginning and ending amounts of equity is presented below:



	Nine Months Ended
	December 31, 2016			December 26, 2015
	(millions)
Balance at beginning of period	$	3,744		$	3,891
Comprehensive income	63			320
Dividends declared	(123		)	(127		)
Repurchases of common stock, including shares surrendered for tax withholdings	(115		)	(399		)
Stock-based compensation	46			79
Shares issued and tax benefits (shortfalls) recognized pursuant to stock-based compensation arrangements	(5		)	40
Balance at end of period	$	3,610		$	3,804

Common Stock Repurchase Program

In June 2016, as part of its common stock repurchase program, the Company entered into an accelerated share repurchase program with a third-party financial institution under which it made an upfront payment of $100 million in exchange for an initial delivery of 0.9 million shares of its Class A common stock, representing 90% of the total shares ultimately expected to be delivered over the program's term (the "ASR Program"). The initial shares received, which had an aggregate cost of $90 million based on the June 20, 2016 closing share price, were immediately retired and recorded as an increase to treasury stock.

In September 2016, at the ASR Program's conclusion, the Company received 0.1 million additional shares and recorded a related $10 million increase to treasury stock. The number of additional shares delivered was based on the volume-weighted average price per share of the Company's Class A common stock over the term of the ASR Program, less an agreed upon discount. The average price per share paid for all of the shares delivered under the ASR Program was $98.48.

A summary of the Company's repurchases of Class A common stock under its common stock repurchase program, including the ASR Program, is as follows:



	Nine Months Ended
	December 31, 2016		December 26, 2015
	(millions)
Cost of shares repurchased	$	100	$	380
Number of shares repurchased	1.0		3.0

As of December 31, 2016, the remaining availability under the Company's Class A common stock repurchase program was $200 million, reflecting the May 11, 2016 approval by the Company's Board of Directors to expand the program by up to an additional $200 million of Class A common stock repurchases. Repurchases of shares of Class A common stock are subject to overall business and market conditions.

In addition, during each of the nine-month periods ended December 31, 2016 and December 26, 2015, 0.2 million shares of Class A common stock, at a cost of $15 million and $19 million, respectively, were surrendered to, or withheld by, the Company in satisfaction of withholding taxes in connection with the vesting of awards under the Company's 1997 Long-Term Stock Incentive Plan, as amended (the "1997 Incentive Plan"), and its Amended and Restated 2010 Long-Term Stock Incentive Plan (the "2010 Incentive Plan").

Repurchased and surrendered shares are accounted for as treasury stock at cost and held in treasury for future use.

Dividends

Since 2003, the Company has maintained a regular quarterly cash dividend program on its common stock. The third quarter Fiscal 2017 dividend of $0.50 per share was declared on December 13, 2016, was payable to stockholders of record at the close of business on December 30, 2016, and was paid on January 13, 2017. Dividends paid amounted to $124 million and $128 million during the nine-month periods ended December 31, 2016 and December 26, 2015, respectively.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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-Section E

Reference 15: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Accumulated Other Comprehensive Income (Loss)

9 Months Ended

Dec. 31, 2016

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Accumulated Other Comprehensive Income (Loss)

The following table presents the components of other comprehensive income (loss), net of tax, accumulated in equity:



	Foreign Currency Translation Losses^(a)			Net Unrealized Gains (Losses) on Cash Flow Hedges^(b)			Net Unrealized Gains (Losses) on Defined Benefit Plans^(c)			Total Accumulated Other Comprehensive Income (Loss)
	(millions)
Balance at March 28, 2015	$	(193	)	$	43		$	(15	)	$	(165	)
Other comprehensive income (loss), net of tax:
OCI before reclassifications	(13		)	3			1			(9		)
Amounts reclassified from AOCI to earnings	—			(27		)	1			(26		)
Other comprehensive income (loss), net of tax	(13		)	(24		)	2			(35		)
Balance at December 26, 2015	$	(206	)	$	19		$	(13	)	$	(200	)

Balance at April 2, 2016	$	(157	)	$	(12	)	$	(12	)	$	(181	)
Other comprehensive income (loss), net of tax:
OCI before reclassifications	(87		)	42			1			(44		)
Amounts reclassified from AOCI to earnings	—			1			1			2
Other comprehensive income (loss), net of tax	(87		)	43			2			(42		)
Balance at December 31, 2016	$	(244	)	$	31		$	(10	)	$	(223	)

^(a)

OCI before reclassifications to earnings related to foreign currency translation losses includes an income tax provision of $19 million for the nine months ended December 31, 2016, and is net of an income tax benefit of $2 million for the nine months ended December 26, 2015. OCI before reclassifications to earnings for the nine-month periods ended December 31, 2016 and December 26, 2015 include a gain of $28 million (net of a $17 million income tax provision) and a loss of $4 million (net of a $3 million income tax benefit), respectively, related to the effective portion of changes in the fair values of the Cross-Currency Swaps designated as hedges of the Company's net investment in certain of its European subsidiaries (see Note 12).


^(b)	OCI before reclassifications to earnings related to net unrealized gains (losses) on cash flow hedges are net of income tax provisions of $5 million and $1 million for the nine-month periods ended December 31, 2016 and December 26, 2015, respectively. The tax effects on amounts reclassified from AOCI to earnings are presented in a table below.


^(c)	Activity is presented net of taxes, which were immaterial for both periods presented.

The following table presents reclassifications from AOCI to earnings for cash flow hedges for the periods presented:



	Three Months Ended						Nine Months Ended						Location of Gains (Losses) Reclassified from AOCI to Earnings
	December 31, 2016			December 26, 2015			December 31, 2016			December 26, 2015
	(millions)
Gains (losses) on cash flow hedges^(a):
FC — Cash flow hedges	$	(3	)	$	13		$	(4	)	$	29		Cost of goods sold
FC — Cash flow hedges	9			—			3			—			Foreign currency gains (losses)
Tax effect	(1		)	(2		)	—			(2		)	Provision for income taxes
Net of tax	$	5		$	11		$	(1	)	$	27


^(a)	FC = Forward foreign currency exchange contracts.

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

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+ Details

Stock-based Compensation

9 Months Ended

Dec. 31, 2016

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

Stock-based Compensation

The Company's stock-based compensation awards are currently issued under the 2010 Incentive Plan, which was approved by its stockholders on August 5, 2010. However, any prior awards granted under the 1997 Incentive Plan remain subject to the terms of that plan. Any awards that expire, are forfeited, or are surrendered to the Company in satisfaction of taxes are available for issuance under the 2010 Incentive Plan. On September 1, 2016, the Company registered with the Securities and Exchange Commission an additional 0.9 million shares of its Class A common stock for issuance pursuant to its 2010 Incentive Plan.

Refer to Note 19 of the Fiscal 2016 10-K for a detailed description of the Company's stock-based compensation awards, including information related to vesting terms, service and performance conditions, and payout percentages.

Impact on Results

A summary of total stock-based compensation expense and the related income tax benefits recognized during the three-month and nine-month periods ended December 31, 2016 and December 26, 2015 is as follows:



	Three Months Ended							Nine Months Ended
	December 31, 2016			December 26, 2015				December 31, 2016			December 26, 2015
	(millions)
Compensation expense	$	14		$	25		^(a)	$	46		$	79		^(a)
Income tax benefit	$	(5	)	$	(10	)		$	(17	)	$	(30	)


^(a)	Includes approximately $9 million of accelerated stock-based compensation expense recorded within restructuring and other charges in the Company's consolidated statements of operations during the three-month and nine-month periods ended December 26, 2015 (see Note 8). All other stock-based compensation expense was recorded within SG&A expenses.

The Company issues its annual grants of stock-based compensation awards in the first half of each fiscal year. Due to the timing of the annual grants and other factors, including the composition of the retirement-eligible employee population, stock-based compensation expense recognized during the three-month and nine-month periods ended December 31, 2016 is not indicative of the level of compensation expense expected to be incurred for the full Fiscal 2017.

Stock Options

A summary of stock option activity under all plans during the nine months ended December 31, 2016 is as follows:



	Number of Options
	(thousands)
Options outstanding at April 2, 2016	2,418
Granted	—
Exercised	(83	)
Cancelled/Forfeited	(557	)
Options outstanding at December 31, 2016	1,778

Restricted Stock Awards and Service-based RSUs

The fair values of restricted stock awards granted to non-employee directors are determined based on the fair value of the Company's Class A common stock on the date of grant. The weighted-average grant date fair value of restricted stock awards granted, which entitle holders to receive cash dividends in connection with the payments of dividends on the Company's Class A common stock, was $131.40 per share during the nine months ended December 26, 2015. No such awards were granted during the nine months ended December 31, 2016.

The fair values of service-based RSUs granted to certain of the Company's senior executives, as well as to certain of its other employees, are based on the fair value of the Company's Class A common stock on the date of grant, adjusted to reflect the absence of dividends for any awards not entitled to accrue dividend equivalents while outstanding. The weighted-average grant date fair values of service-based RSU awards granted were $83.92 and $126.06 per share during the nine-month periods ended December 31, 2016 and December 26, 2015, respectively.

A summary of restricted stock and service-based RSU activity during the nine months ended December 31, 2016 is as follows:



	Number of Shares
	Restricted Stock	Service-based RSUs
	(thousands)
Nonvested at April 2, 2016	14	490
Granted	—	670
Vested	—	(152	)
Forfeited	—	(132	)
Nonvested at December 31, 2016	14	876

Performance-based RSUs

The fair values of the Company's performance-based RSUs that are not subject to a market condition in the form of a total shareholder return ("TSR") modifier are based on the fair value of the Company's Class A common stock on the date of grant, adjusted to reflect the absence of dividends for those securities that are not entitled to dividend equivalents. The weighted-average grant date fair values of performance-based RSUs that do not contain a TSR modifier granted during the nine-month periods ended December 31, 2016 and December 26, 2015 were $86.15 and $126.71 per share, respectively.

The fair values of the Company's performance-based RSUs with a TSR modifier are determined on the date of grant using a Monte Carlo simulation valuation model. This pricing model uses multiple simulations to evaluate the probability of the Company achieving various stock price levels to determine its expected TSR performance ranking. No such awards were granted during the nine-month periods ended December 31, 2016 and December 26, 2015.

A summary of performance-based RSU activity during the nine months ended December 31, 2016 is as follows:



	Number of Shares
	Performance-based RSUs — without TSR Modifier		Performance-based RSUs — with TSR Modifier
	(thousands)
Nonvested at April 2, 2016	691		142
Granted	428		—
Change due to performance/market condition achievement	(14	)	(25	)
Vested	(216	)	(49	)
Forfeited	(92	)	(7	)
Nonvested at December 31, 2016	797		61

Segment Information

9 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

Segment Information

The Company has three reportable segments based on its business activities and organization: Wholesale, Retail, and Licensing. These segments offer a variety of products through different channels of distribution. The Wholesale segment consists of apparel, accessories, home furnishings, and related products which are sold to major department stores, specialty stores, golf and pro shops, and the Company's licensed and franchised retail stores in the U.S. and overseas. The Retail segment consists of the Company's integrated worldwide retail operations, which sell products through its retail stores, concession-based shop-within-shops, and e-commerce sites, which are purchased from the Company's licensees and suppliers. The Licensing segment generates revenues from royalties earned on the sale of the Company's apparel, home, and other products internationally and domestically through licensing alliances. The licensing agreements grant the licensees rights to use the Company's various trademarks in connection with the manufacture and sale of designated products in specified geographical areas for specified periods.

The accounting policies of the Company's segments are consistent with those described in Notes 2 and 3 of the Fiscal 2016 10-K. Sales and transfers between segments are generally recorded at cost and treated as transfers of inventory. All intercompany revenues, including such sales between segments, are eliminated in consolidation and are not reviewed when evaluating segment performance. Each segment's performance is evaluated based upon operating income before restructuring charges and certain other one-time items, such as legal charges, if any. Certain corporate overhead expenses related to global functions, most notably the Company's executive office, information technology, finance and accounting, human resources, and legal departments, largely remain at corporate as unallocated expenses. Additionally, other costs that cannot be allocated to the segments based on specific usage are also maintained at corporate, including corporate advertising and marketing expenses, depreciation and amortization of corporate assets, and other general and administrative expenses resulting from corporate-level activities and projects.

Net revenues and operating income for each of the Company's reportable segments are as follows:



	Three Months Ended				Nine Months Ended
	December 31, 2016		December 26, 2015		December 31, 2016		December 26, 2015
	(millions)
Net revenues:
Wholesale	$	582	$	786	$	2,020	$	2,355
Retail	1,088		1,113		2,937		3,044
Licensing	44		47		130		135
Total net revenues	$	1,714	$	1,946	$	5,087	$	5,534



	Three Months Ended						Nine Months Ended
	December 31, 2016			December 26, 2015			December 31, 2016			December 26, 2015
	(millions)
Operating income:
Wholesale^(a)	$	122		$	183		$	458		$	567
Retail^(b)	166			136			248			369
Licensing^(c)	37			42			115			120
	325			361			821			1,056
Unallocated corporate expenses	(131		)	(114		)	(454		)	(418		)
Unallocated restructuring and other charges^(d)	(66		)	(58		)	(194		)	(123		)
Total operating income	$	128		$	189		$	173		$	515

^(a)

During the three-month and nine-month periods ended December 31, 2016, the Company recorded non-cash inventory-related charges of $2 million and $20 million, respectively, and asset impairment charges of $2 million and $10 million, respectively. During the three-month and nine-month periods ended December 26, 2015, the Company recorded non-cash asset impairment charges of $1 million and $6 million, respectively. These charges were recorded in connection with the Company's restructuring plans. See Notes 7 and 8 for additional information.

^(b)

During the three-month and nine-month periods ended December 31, 2016, the Company recorded non-cash inventory-related charges of $12 million and $129 million, respectively, and asset impairment charges of $4 million and $42 million, respectively. During the three-month and nine-month periods ended December 26, 2015, the Company recorded non-cash inventory-related charges of $10 million and $13 million, respectively, and asset impairment charges of $8 million and $18 million, respectively. These charges were recorded in connection with the Company's restructuring plans. See Notes 7 and 8 for additional information.


^(c)	During both the three-month and nine-month periods ended December 31, 2016, the Company recorded asset impairment charges of $5 million in connection with the Way Forward Plan. See Notes 7 and 8 for additional information.


^(d)	The three-month and nine-month periods ended December 31, 2016 and December 26, 2015 included certain unallocated restructuring and other charges (see Note 8), which are detailed below:



	Three Months Ended						Nine Months Ended
	December 31, 2016			December 26, 2015			December 31, 2016			December 26, 2015
	(millions)
Unallocated restructuring and other charges:
Wholesale-related	$	(4	)	$	—		$	(27	)	$	(10	)
Retail-related	(51		)	(1		)	(77		)	(20		)
Licensing-related	—			—			(2		)	(1		)
Corporate operations-related	(11		)	(22		)	(88		)	(45		)
Unallocated restructuring charges	(66		)	(23		)	(194		)	(76		)
Other charges (see Note 8)	—			(35		)	—			(47		)
Total unallocated restructuring and other charges	$	(66	)	$	(58	)	$	(194	)	$	(123	)

Depreciation and amortization expense for the Company's segments is as follows:



	Three Months Ended				Nine Months Ended
	December 31, 2016		December 26, 2015		December 31, 2016		December 26, 2015
	(millions)
Depreciation and amortization:
Wholesale	$	14	$	15	$	43	$	45
Retail	37		39		111		117
Licensing	—		1		1		1
Unallocated corporate	27		21		77		64
Total depreciation and amortization	$	78	$	76	$	232	$	227

Net revenues by geographic location of the reporting subsidiary are as follows:



	Three Months Ended				Nine Months Ended
	December 31, 2016		December 26, 2015		December 31, 2016		December 26, 2015
	(millions)
Net revenues^(a):
The Americas^(b)	$	1,126	$	1,321	$	3,242	$	3,719
Europe^(c)	352		399		1,181		1,163
Asia^(d)	236		226		664		652
Total net revenues	$	1,714	$	1,946	$	5,087	$	5,534


^(a)	Net revenues for certain of the Company's licensed operations are included within the geographic location of the reporting subsidiary which holds the respective license.


^(b)	Includes the U.S., Canada, and Latin America. Net revenues earned in the U.S. during the three-month and nine-month periods ended December 31, 2016 were $1.064 billion and $3.066 billion, respectively, and $1.251 billion and $3.527 billion during the three-month and nine-month periods ended December 26, 2015, respectively.


^(c)	Includes the Middle East.


^(d)	Includes Australia and New Zealand.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Reference 2: http://www.xbrl.org/2003/role/presentationRef
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
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Reference 14: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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+ Details

Additional Financial Information

9 Months Ended

Dec. 31, 2016

Supplemental Cash Flow Information [Abstract]

Additional Financial Information

Cash Interest and Taxes

Cash paid for interest and income taxes is as follows:



	Three Months Ended				Nine Months Ended
	December 31, 2016		December 26, 2015		December 31, 2016		December 26, 2015
	(millions)
Cash paid for interest	$	3	$	3	$	10	$	8
Cash paid for income taxes	$	19	$	26	$	69	$	151

Non-cash Transactions

Non-cash investing activities included capital expenditures incurred but not yet paid of $56 million and $97 million for the nine-month periods ended December 31, 2016 and December 26, 2015, respectively. Additionally, during the nine months ended December 31, 2016, the Company recorded capital lease assets and corresponding capital lease obligations of $5 million within its consolidated balance sheet.

There were no other significant non-cash investing or financing activities for any of the fiscal periods presented.

Subsequent Event	9 Months Ended
Subsequent Event	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Event Departure of Chief Executive Officer On February 2, 2017, the Company announced that Stefan Larsson, President and Chief Executive Officer, will depart from the Company, effective as of May 1, 2017. In connection with Mr. Larsson's departure, the Company and Mr. Larsson entered into an employment separation agreement and release (the "Larsson Agreement"), pursuant to which, Mr. Larsson will receive severance-related payments of $10 million, to be paid over two years. He will also receive his bonus under the Company's Executive Officer Annual Incentive Plan ("EOAIP") for the Company's Fiscal 2017, as well as a pro-rated EOAIP bonus for Fiscal 2018 through May 1, 2017, each based on the Company's actual performance during the related fiscal year. The Fiscal 2017 and Fiscal 2018 EOAIP bonuses will be paid on the dates that bonuses under the EOAIP are paid to the Company's eligible employees. Mr. Larsson will also vest in all time-based equity awards as of the date of termination and will vest in all performance-based equity awards based on the Company's actual performance on the dates those awards were scheduled to vest without regard to his continued employment. He is required to provide the Company with transition services and comply with confidentiality, non-competition, non-disparagement, and non-solicitation restrictive covenants. Mr. Larsson has also agreed to a release of claims against the Company. As a result of the Larsson Agreement, the Company expects to incur total estimated charges of approximately $20 million over the course of the fourth quarter of Fiscal 2017 and the first quarter of Fiscal 2018. Additionally, the Company has commenced a search for a new Chief Executive Officer.

Summary of Significant Accounting Policies (Policies)

9 Months Ended

Dec. 31, 2016

Accounting Policies [Abstract]

Basis of Consolidation

These unaudited interim consolidated financial statements present the consolidated financial position, income, comprehensive income, and cash flows of the Company, including all entities in which the Company has a controlling financial interest and is determined to be the primary beneficiary. All significant intercompany balances and transactions have been eliminated in consolidation.

Fiscal Year

Fiscal Periods

The Company utilizes a 52-53 week fiscal year ending on the Saturday closest to March 31. As such, fiscal year 2017 will end on April 1, 2017 and will be a 52-week period ("Fiscal 2017"). Fiscal year 2016 ended on April 2, 2016 and was a 53-week period ("Fiscal 2016"). The third quarter of Fiscal 2017 ended on December 31, 2016 and was a 13-week period. The third quarter of Fiscal 2016 ended on December 26, 2015 and was also a 13-week period.

Use of Estimates

The preparation of financial statements in conformity with U.S. GAAP requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and footnotes thereto. Actual results could differ materially from those estimates.

Significant estimates inherent in the preparation of the consolidated financial statements include reserves for bad debt, customer returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances; the realizability of inventory; reserves for litigation and other contingencies; useful lives and impairments of long-lived tangible and intangible assets; fair value measurements; accounting for income taxes and related uncertain tax positions; valuation of stock-based compensation awards and related estimated forfeiture rates; reserves for restructuring activity; and accounting for business combinations, among others.

Reclassifications

Certain reclassifications have been made to the prior period's financial information in order to conform to the current period's presentation.

Revenue Recognition

The Company accounts for sales taxes and other related taxes on a net basis, excluding such taxes from revenue.

Shipping and Handling Costs

Net Income Per Common Share

Options to purchase shares of the Company's Class A common stock at an exercise price greater than the average market price of the common stock during the reporting period are anti-dilutive and therefore not included in the computation of diluted net income per common share. In addition, the Company has outstanding performance-based RSUs, which are included in the computation of diluted shares only to the extent that the underlying performance conditions (and applicable market condition modifiers, if any) (i) have been satisfied as of the end of the reporting period or (ii) would be considered satisfied if the end of the reporting period were the end of the related contingency period and the result would be dilutive.

Net Income per Common Share

Accounts Receivable

Inventories

Derivative Financial Instruments

Cash Flow Hedges


•	Forecasted Inventory Transactions — recognized as part of the cost of the inventory being hedged within cost of goods sold when the related inventory is sold to a third party.


•	Intercompany Royalties — recognized within foreign currency gains (losses) generally in the period in which the related payments being hedged occur.

Hedge of a Net Investment in a Foreign Operation

Fair Value Hedges

Undesignated Hedges

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Dec. 31, 2016

Summary of Significant Accounting Policies (Tables) [Abstract]

Summary of Basic and Diluted shares

The weighted-average number of common shares outstanding used to calculate basic net income per common share is reconciled to shares used to calculate diluted net income per common share as follows:



	Three Months Ended		Nine Months Ended
	December 31, 2016	December 26, 2015	December 31, 2016	December 26, 2015
	(millions)
Basic shares	82.6	84.9	82.9	85.7
Dilutive effect of stock options, restricted stock, and RSUs	0.7	0.6	0.7	0.6
Diluted shares	83.3	85.5	83.6	86.3

Sales Returns and Allowances [Member]

Summary of Significant Accounting Policies (Tables) [Abstract]

Rollforward of activity in the Company's aggregate reserves for returns, discounts, end-of-season markdowns and operational chargebacks

A rollforward of the activity in the Company's reserves for returns, discounts, end-of-season markdowns, operational chargebacks, and certain cooperative advertising allowances is presented below:



	Three Months Ended						Nine Months Ended
	December 31, 2016			December 26, 2015			December 31, 2016			December 26, 2015
	(millions)
Beginning reserve balance	$	229		$	246		$	240		$	240
Amount charged against revenue to increase reserve	151			181			479			570
Amount credited against customer accounts to decrease reserve	(172		)	(161		)	(511		)	(545		)
Foreign currency translation	(7		)	(2		)	(7		)	(1		)
Ending reserve balance	$	201		$	264		$	201		$	264

Property and Equipment (Tables)

9 Months Ended

Dec. 31, 2016

Property, Plant and Equipment [Abstract]

Property and equipment, net

Property and equipment, net consists of the following:



	December 31, 2016			April 2, 2016
	(millions)
Land and improvements	$	17		$	17
Buildings and improvements	456			460
Furniture and fixtures	698			727
Machinery and equipment	406			359
Capitalized software	540			460
Leasehold improvements	1,263			1,248
Construction in progress	134			216
	3,514			3,487
Less: accumulated depreciation	(2,000		)	(1,904		)
Property and equipment, net	$	1,514		$	1,583

Other Assets and Liabilities (Tables)

9 Months Ended

Dec. 31, 2016

Balance Sheet Related Disclosures [Abstract]

Schedule of Other Current Assets

Prepaid expenses and other current assets consist of the following:



	December 31, 2016		April 2, 2016
	(millions)
Other taxes receivable	$	119	$	112
Derivative financial instruments	60		16
Prepaid rent expense	39		37
Tenant allowances receivable	16		13
Prepaid samples	11		9
Restricted cash	9		17
Prepaid advertising and marketing	6		7
Other prepaid expenses and current assets	61		57
Total prepaid expenses and other current assets	$	321	$	268

Schedule of Other Assets, Noncurrent

Other non-current assets consist of the following:



	December 31, 2016		April 2, 2016
	(millions)
Non-current investments	$	82	$	187
Restricted cash	33		29
Security deposits	29		32
Derivative financial instruments	19		6
Other non-current assets	39		42
Total other non-current assets	$	202	$	296

Schedule of Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consist of the following:



	December 31, 2016		April 2, 2016
	(millions)
Accrued operating expenses	$	209	$	186
Accrued payroll and benefits	177		149
Accrued inventory	160		176
Other taxes payable	155		139
Restructuring reserve	85		40
Accrued capital expenditures	56		65
Dividends payable	41		41
Deferred income	34		50
Capital lease obligations	22		21
Derivative financial instruments	9		26
Other accrued expenses and current liabilities	7		5
Total accrued expenses and other current liabilities	$	955	$	898

Schedule of Non-Current Liabilities

Other non-current liabilities consist of the following:



	December 31, 2016		April 2, 2016
	(millions)
Capital lease obligations	$	252	$	266
Deferred rent obligations	208		222
Deferred tax liabilities	14		17
Derivative financial instruments	9		33
Deferred compensation	8		8
Other non-current liabilities	48		47
Total other non-current liabilities	$	539	$	593

Restructuring and Other Charges (Tables)

9 Months Ended

Dec. 31, 2016

Way Forward Plan [Member]

Restructuring Cost and Reserve [Line Items]

Restructuring and Related Costs

A summary of the charges recorded in connection with the Way Forward Plan during the three-month and nine-month periods ended December 31, 2016 is as follows:



	December 31, 2016
	Three Months Ended		Nine Months Ended
	(millions)
Cash-related restructuring charges:
Severance and benefit costs	$	14	$	116
Lease termination and store closure costs	49		64
Other cash charges	3		9
Total cash-related restructuring charges	66		189
Non-cash charges:
Impairment of assets (see Note 7)	11		57
Inventory-related charges^(a)	14		149
Total non-cash charges	25		206
Total charges	$	91	$	395


^(a)	Includes charges of $11 million and $125 million associated with the reduction of inventory out of current liquidation channels for the three-month and nine-month periods ended December 31, 2016, respectively. Inventory-related charges are recorded within cost of goods sold in the consolidated statements of operations.

Schedule of Restructuring Reserve by Type of Cost [Table Text Block]

A summary of the activity in the restructuring reserve related to the Way Forward Plan is as follows:



	Severance and Benefit Costs			Lease Termination and Store Closure Costs			Other Cash Charges			Total
	(millions)
Balance at April 2, 2016	$	—		$	—		$	—		$	—
Additions charged to expense	116			64			9			189
Cash payments charged against reserve	(65		)	(50		)	(7		)	(122		)
Foreign currency translation	(1		)	(1		)	—			(2		)
Balance at December 31, 2016	$	50		$	13		$	2		$	65

Global Reorganization Plan [Member]

Restructuring Cost and Reserve [Line Items]

Restructuring and Related Costs



	Three Months Ended				Nine Months Ended
	December 31, 2016		December 26, 2015		December 31, 2016		December 26, 2015		Cumulative Charges
	(millions)
Cash-related restructuring charges:
Severance and benefit costs	$	—	$	11	$	5	$	49	$	69
Lease termination and store closure costs	—		—		—		7		8
Other cash charges^(a)	—		3		—		11		14
Total cash-related restructuring charges	—		14		5		67		91
Non-cash charges:
Impairment of assets (see Note 7)	—		9		—		24		27
Accelerated stock-based compensation expense^(b)	—		9		—		9		9
Inventory-related charges^(c)	—		10		—		13		20
Total non-cash charges	—		28		—		46		56
Total charges	$	—	$	42	$	5	$	113	$	147


^(a)	Other cash charges primarily consisted of consulting fees recorded in connection with the Global Reorganization Plan.


^(b)	Accelerated stock-based compensation expense, which is recorded within restructuring and other charges in the consolidated statements of operations, was recorded in connection with vesting provisions associated with certain separation agreements.


^(c)	Inventory-related charges are recorded within cost of goods sold in the consolidated statements of operations.

Schedule of Restructuring Reserve by Type of Cost [Table Text Block]

A summary of current period activity in the restructuring reserve related to the Global Reorganization Plan is as follows:



	Severance and Benefit Costs			Lease Termination and Store Closure Costs			Other Cash Charges			Total
	(millions)
Balance at April 2, 2016	$	31		$	6		$	3		$	40
Additions charged to expense	5			—			—			5
Cash payments charged against reserve	(21		)	(2		)	(2		)	(25		)
Balance at December 31, 2016	$	15		$	4		$	1		$	20

Debt (Tables)

9 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Schedule of Debt Instruments

Debt consists of the following:



	December 31, 2016		April 2, 2016
	(millions)
$300 million 2.125% Senior Notes^(a)	$	298	$	301
$300 million 2.625% Senior Notes^(b)	291		296
Commercial paper notes	—		90
Borrowings outstanding under credit facilities	—		26
Total debt	589		713
Less: short-term debt	—		116
Total long-term debt	$	589	$	597

^(a)

^(b)

Fair Value Measurements (Tables)

9 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

Fair value of financial assets and liabilities measured and recorded at fair value on recurring basis

The following table summarizes the Company's financial assets and liabilities that are measured and recorded at fair value on a recurring basis, excluding accrued interest components:



	December 31, 2016		April 2, 2016
	(millions)
Financial assets recorded at fair value:
Corporate bonds — non-U.S.^(a)	$	7	$	8
Derivative financial instruments^(b)	79		22
Total	$	86	$	30
Financial liabilities recorded at fair value:
Derivative financial instruments^(b)	$	18	$	59
Total	$	18	$	59


^(a)	Based on Level 1 measurements.


^(b)	Based on Level 2 measurements.

Carrying value and the estimated fair value of the Company's debt obligations

The following table summarizes the carrying values and the estimated fair values of the Company's debt instruments:



	December 31, 2016					April 2, 2016
	Carrying Value			Fair Value^(a)		Carrying Value			Fair Value^(a)
	(millions)
$300 million 2.125% Senior Notes	$	298	^(b)	$	303	$	301	^(b)	$	306
$300 million 2.625% Senior Notes	291		^(b)	303		296		^(b)	308
Commercial paper notes	—			—		90			90
Borrowings outstanding under credit facilities	—			—		26			26


^(a)	Based on Level 2 measurements.


^(b)	See Note 10 for discussion of the carrying values of the Company's Senior Notes as of December 31, 2016 and April 2, 2016.

Financial Instruments (Tables)

9 Months Ended

Dec. 31, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Company's outstanding derivative instruments on a gross basis as recorded on its consolidated balance sheets

The following table summarizes the Company's outstanding derivative instruments on a gross basis as recorded in its consolidated balance sheets as of December 31, 2016 and April 2, 2016:



	Notional Amounts				Derivative Assets						Derivative Liabilities
Derivative Instrument^(a)	December 31, 2016		April 2, 2016		December 31, 2016			April 2, 2016			December 31, 2016			April 2, 2016
					Balance Sheet Line^(b)	Fair Value		Balance Sheet Line^(b)	Fair Value		Balance Sheet Line^(b)	Fair Value		Balance Sheet Line^(b)	Fair Value
	(millions)
Designated Hedges:
FC — Cash flow hedges	$	594	$	742	^(d)	$	35	PP	$	1	ONCL	$	1	AE	$	23
IRS — Fixed-rate debt	600		600		—	—		ONCA	2		ONCL	8		ONCL	2
CCS — NI	577		630		ONCA	15		—	—		—	—		ONCL	31
Total Designated Hedges	$	1,771	$	1,972		$	50		$	3		$	9		$	56
Undesignated Hedges:
FC — Undesignated hedges^(c)	$	539	$	541	PP	$	29	^(e)	$	19	AE	$	9	AE	$	3
Total Hedges	$	2,310	$	2,513		$	79		$	22		$	18		$	59


^(a)	FC = Forward foreign currency exchange contracts; IRS = Interest rate swap contracts; CCS = Cross-currency swap contracts; NI = Net investment hedges.


^(b)	PP = Prepaid expenses and other current assets; AE = Accrued expenses and other current liabilities; ONCA = Other non-current assets; ONCL = Other non-current liabilities.


^(c)	Primarily includes undesignated hedges of foreign currency-denominated intercompany loans and other intercompany balances.


^(d)	$31 million included within prepaid expenses and other current assets and $4 million included within other non-current assets.


^(e)	$15 million included within prepaid expenses and other current assets and $4 million included within other non-current assets.

Offsetting Assets



	December 31, 2016							April 2, 2016
Derivative Instrument	Gross Amounts Presented in the Balance Sheet		Gross Amounts Not Offset in the Balance Sheet that are Subject to Master Netting Agreements			Net Amount		Gross Amounts Presented in the Balance Sheet		Gross Amounts Not Offset in the Balance Sheet that are Subject to Master Netting Agreements			Net Amount
	(millions)
Derivative assets	$	79	$	(15	)	$	64	$	22	$	(11	)	$	11
Derivative liabilities	$	18	$	(15	)	$	3	$	59	$	(11	)	$	48

Gains (losses) recognized in AOCI and gains (losses) reclassified from AOCI to Earnings



	Gains (Losses) Recognized in OCI
	Three Months Ended				Nine Months Ended
Derivative Instrument	December 31, 2016		December 26, 2015		December 31, 2016		December 26, 2015
	(millions)
Designated Hedges:
FC — Cash flow hedges	$	58	$	4	$	47	$	4
CCS — NI^(a)	38		6		45		(7		)
Total Designated Hedges	$	96	$	10	$	92	$	(3	)



	Gains (Losses) Reclassified from AOCI to Earnings										Location of Gains (Losses) Reclassified from AOCI to Earnings
	Three Months Ended					Nine Months Ended
Derivative Instrument	December 31, 2016			December 26, 2015		December 31, 2016			December 26, 2015
	(millions)
Designated Hedges:
FC — Cash flow hedges	$	(3	)	$	13	$	(4	)	$	29	Cost of goods sold
FC — Cash flow hedges	9			—		3			—		Foreign currency gains (losses)
Total Designated Hedges	$	6		$	13	$	(1	)	$	29


^(a)	Amounts recognized in OCI would be recognized in earnings only upon the sale or liquidation of the hedged net investment.

Gains (losses) recognized in earnings from derivatives not designated as hedging instruments



	Gains (Losses) Recognized in Earnings								Location of Gains (Losses) Recognized in Earnings
	Three Months Ended				Nine Months Ended
Derivative Instrument	December 31, 2016		December 26, 2015		December 31, 2016		December 26, 2015
	(millions)
Undesignated Hedges:
FC — Undesignated hedges	$	14	$	2	$	3	$	4	Foreign currency gains (losses)
Total Undesignated Hedges	$	14	$	2	$	3	$	4

Equity (Tables)

9 Months Ended

Dec. 31, 2016

Equity [Abstract]

Summary of Changes in Equity

A reconciliation of the beginning and ending amounts of equity is presented below:



	Nine Months Ended
	December 31, 2016			December 26, 2015
	(millions)
Balance at beginning of period	$	3,744		$	3,891
Comprehensive income	63			320
Dividends declared	(123		)	(127		)
Repurchases of common stock, including shares surrendered for tax withholdings	(115		)	(399		)
Stock-based compensation	46			79
Shares issued and tax benefits (shortfalls) recognized pursuant to stock-based compensation arrangements	(5		)	40
Balance at end of period	$	3,610		$	3,804

Summary of Repurchased Common Stock

A summary of the Company's repurchases of Class A common stock under its common stock repurchase program, including the ASR Program, is as follows:



	Nine Months Ended
	December 31, 2016		December 26, 2015
	(millions)
Cost of shares repurchased	$	100	$	380
Number of shares repurchased	1.0		3.0

Accumulated Other Comrehensive Income (Loss) (Tables)

9 Months Ended

Dec. 31, 2016

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

The following table presents the components of other comprehensive income (loss), net of tax, accumulated in equity:



	Foreign Currency Translation Losses^(a)			Net Unrealized Gains (Losses) on Cash Flow Hedges^(b)			Net Unrealized Gains (Losses) on Defined Benefit Plans^(c)			Total Accumulated Other Comprehensive Income (Loss)
	(millions)
Balance at March 28, 2015	$	(193	)	$	43		$	(15	)	$	(165	)
Other comprehensive income (loss), net of tax:
OCI before reclassifications	(13		)	3			1			(9		)
Amounts reclassified from AOCI to earnings	—			(27		)	1			(26		)
Other comprehensive income (loss), net of tax	(13		)	(24		)	2			(35		)
Balance at December 26, 2015	$	(206	)	$	19		$	(13	)	$	(200	)

Balance at April 2, 2016	$	(157	)	$	(12	)	$	(12	)	$	(181	)
Other comprehensive income (loss), net of tax:
OCI before reclassifications	(87		)	42			1			(44		)
Amounts reclassified from AOCI to earnings	—			1			1			2
Other comprehensive income (loss), net of tax	(87		)	43			2			(42		)
Balance at December 31, 2016	$	(244	)	$	31		$	(10	)	$	(223	)

^(a)


^(b)	OCI before reclassifications to earnings related to net unrealized gains (losses) on cash flow hedges are net of income tax provisions of $5 million and $1 million for the nine-month periods ended December 31, 2016 and December 26, 2015, respectively. The tax effects on amounts reclassified from AOCI to earnings are presented in a table below.


^(c)	Activity is presented net of taxes, which were immaterial for both periods presented.

Reclassification out of Accumulated Other Comprehensive Income (Loss)

The following table presents reclassifications from AOCI to earnings for cash flow hedges for the periods presented:



	Three Months Ended						Nine Months Ended						Location of Gains (Losses) Reclassified from AOCI to Earnings
	December 31, 2016			December 26, 2015			December 31, 2016			December 26, 2015
	(millions)
Gains (losses) on cash flow hedges^(a):
FC — Cash flow hedges	$	(3	)	$	13		$	(4	)	$	29		Cost of goods sold
FC — Cash flow hedges	9			—			3			—			Foreign currency gains (losses)
Tax effect	(1		)	(2		)	—			(2		)	Provision for income taxes
Net of tax	$	5		$	11		$	(1	)	$	27


^(a)	FC = Forward foreign currency exchange contracts.

Stock-based Compensation (Tables)

9 Months Ended

Dec. 31, 2016

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

Summary of the total compensation expense and the associated income tax benefits recognized related to stock-based compensation arrangements



	Three Months Ended							Nine Months Ended
	December 31, 2016			December 26, 2015				December 31, 2016			December 26, 2015
	(millions)
Compensation expense	$	14		$	25		^(a)	$	46		$	79		^(a)
Income tax benefit	$	(5	)	$	(10	)		$	(17	)	$	(30	)


^(a)	Includes approximately $9 million of accelerated stock-based compensation expense recorded within restructuring and other charges in the Company's consolidated statements of operations during the three-month and nine-month periods ended December 26, 2015 (see Note 8). All other stock-based compensation expense was recorded within SG&A expenses.

Summary of the stock option activity under all plans

A summary of stock option activity under all plans during the nine months ended December 31, 2016 is as follows:



	Number of Options
	(thousands)
Options outstanding at April 2, 2016	2,418
Granted	—
Exercised	(83	)
Cancelled/Forfeited	(557	)
Options outstanding at December 31, 2016	1,778

Restricted Stock And Service Based Restricted Stock Units [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of restricted stock and restricted stock unit activity

A summary of restricted stock and service-based RSU activity during the nine months ended December 31, 2016 is as follows:



	Number of Shares
	Restricted Stock	Service-based RSUs
	(thousands)
Nonvested at April 2, 2016	14	490
Granted	—	670
Vested	—	(152	)
Forfeited	—	(132	)
Nonvested at December 31, 2016	14	876

Performance Shares [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of restricted stock and restricted stock unit activity

A summary of performance-based RSU activity during the nine months ended December 31, 2016 is as follows:



	Number of Shares
	Performance-based RSUs — without TSR Modifier		Performance-based RSUs — with TSR Modifier
	(thousands)
Nonvested at April 2, 2016	691		142
Granted	428		—
Change due to performance/market condition achievement	(14	)	(25	)
Vested	(216	)	(49	)
Forfeited	(92	)	(7	)
Nonvested at December 31, 2016	797		61

Segment Information (Tables)

9 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

Net revenues by segment

Net revenues and operating income for each of the Company's reportable segments are as follows:



	Three Months Ended				Nine Months Ended
	December 31, 2016		December 26, 2015		December 31, 2016		December 26, 2015
	(millions)
Net revenues:
Wholesale	$	582	$	786	$	2,020	$	2,355
Retail	1,088		1,113		2,937		3,044
Licensing	44		47		130		135
Total net revenues	$	1,714	$	1,946	$	5,087	$	5,534

Net operating income by segment



	Three Months Ended						Nine Months Ended
	December 31, 2016			December 26, 2015			December 31, 2016			December 26, 2015
	(millions)
Operating income:
Wholesale^(a)	$	122		$	183		$	458		$	567
Retail^(b)	166			136			248			369
Licensing^(c)	37			42			115			120
	325			361			821			1,056
Unallocated corporate expenses	(131		)	(114		)	(454		)	(418		)
Unallocated restructuring and other charges^(d)	(66		)	(58		)	(194		)	(123		)
Total operating income	$	128		$	189		$	173		$	515

^(a)

^(b)


^(c)	During both the three-month and nine-month periods ended December 31, 2016, the Company recorded asset impairment charges of $5 million in connection with the Way Forward Plan. See Notes 7 and 8 for additional information.


^(d)	The three-month and nine-month periods ended December 31, 2016 and December 26, 2015 included certain unallocated restructuring and other charges (see Note 8), which are detailed below:



	Three Months Ended						Nine Months Ended
	December 31, 2016			December 26, 2015			December 31, 2016			December 26, 2015
	(millions)
Unallocated restructuring and other charges:
Wholesale-related	$	(4	)	$	—		$	(27	)	$	(10	)
Retail-related	(51		)	(1		)	(77		)	(20		)
Licensing-related	—			—			(2		)	(1		)
Corporate operations-related	(11		)	(22		)	(88		)	(45		)
Unallocated restructuring charges	(66		)	(23		)	(194		)	(76		)
Other charges (see Note 8)	—			(35		)	—			(47		)
Total unallocated restructuring and other charges	$	(66	)	$	(58	)	$	(194	)	$	(123	)

Restructuring charges by segment

The three-month and nine-month periods ended December 31, 2016 and December 26, 2015 included certain unallocated restructuring and other charges (see Note 8), which are detailed below:



	Three Months Ended						Nine Months Ended
	December 31, 2016			December 26, 2015			December 31, 2016			December 26, 2015
	(millions)
Unallocated restructuring and other charges:
Wholesale-related	$	(4	)	$	—		$	(27	)	$	(10	)
Retail-related	(51		)	(1		)	(77		)	(20		)
Licensing-related	—			—			(2		)	(1		)
Corporate operations-related	(11		)	(22		)	(88		)	(45		)
Unallocated restructuring charges	(66		)	(23		)	(194		)	(76		)
Other charges (see Note 8)	—			(35		)	—			(47		)
Total unallocated restructuring and other charges	$	(66	)	$	(58	)	$	(194	)	$	(123	)

Depreciation and amortization by segment

Depreciation and amortization expense for the Company's segments is as follows:



	Three Months Ended				Nine Months Ended
	December 31, 2016		December 26, 2015		December 31, 2016		December 26, 2015
	(millions)
Depreciation and amortization:
Wholesale	$	14	$	15	$	43	$	45
Retail	37		39		111		117
Licensing	—		1		1		1
Unallocated corporate	27		21		77		64
Total depreciation and amortization	$	78	$	76	$	232	$	227

Net revenues by geographic location

Net revenues by geographic location of the reporting subsidiary are as follows:



	Three Months Ended				Nine Months Ended
	December 31, 2016		December 26, 2015		December 31, 2016		December 26, 2015
	(millions)
Net revenues^(a):
The Americas^(b)	$	1,126	$	1,321	$	3,242	$	3,719
Europe^(c)	352		399		1,181		1,163
Asia^(d)	236		226		664		652
Total net revenues	$	1,714	$	1,946	$	5,087	$	5,534


^(a)	Net revenues for certain of the Company's licensed operations are included within the geographic location of the reporting subsidiary which holds the respective license.


^(b)	Includes the U.S., Canada, and Latin America. Net revenues earned in the U.S. during the three-month and nine-month periods ended December 31, 2016 were $1.064 billion and $3.066 billion, respectively, and $1.251 billion and $3.527 billion during the three-month and nine-month periods ended December 26, 2015, respectively.


^(c)	Includes the Middle East.


^(d)	Includes Australia and New Zealand.

Summary of Significant Accounting Policies (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015
Summary of basic and diluted shares
Basic shares	82.6	84.9	82.9	85.7
Dilutive effect of stock options, restricted stock, and RSUs	0.7	0.6	0.7	0.6
Diluted shares	83.3	85.5	83.6	86.3
Summary of Significant Accounting Policies (Textual) [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount			2.2	2.5

Summary of Significant Accounting Policies (Details 1) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015
Sales Returns and Allowances [Member]
Rollforward of activity in the Company's allowance for doubtful accounts and its aggregate reserves for returns, discounts, end-of-season markdowns and operational chargebacks
Beginning reserve balance	$ 229	$ 246	$ 240	$ 240
Amount charged against revenue to increase reserve	151	181	479	570
Amount credited against customer accounts to decrease reserve	(172)	(161)	(511)	(545)
Foreign currency translation	(7)	(2)	(7)	(1)
Ending reserve balance	201	$ 264	201	$ 264
Allowance for Doubtful Accounts [Member]
Rollforward of activity in the Company's allowance for doubtful accounts and its aggregate reserves for returns, discounts, end-of-season markdowns and operational chargebacks
Beginning reserve balance			14
Ending reserve balance	$ 12		$ 12

Summary of Significant Accounting Policies (Details Textual) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Dec. 31, 2016 USD ($) Customer	Dec. 26, 2015 USD ($)	Dec. 31, 2016 USD ($) Customer	Dec. 26, 2015 USD ($)	Apr. 02, 2016 USD ($)
Summary of Significant Accounting Policies (Textual) [Abstract]
Shipping costs	$ 13	$ 13	$ 32	$ 32
Handling costs	$ 44	48	$ 128	133
Number Of Key Department Store Customers \| Customer	3		3
Inventory, Net	$ 984	$ 1,271	$ 984	$ 1,271	$ 1,125
Total Net Revenue [Member]
Summary of Significant Accounting Policies (Textual) [Abstract]
Contribution of Key Wholesale Customers					24.00%
Accounts Receivable [Member]
Summary of Significant Accounting Policies (Textual) [Abstract]
Contribution of Key Wholesale Customers			28.00%
Macy's [Member] \| Total Net Revenue [Member]
Summary of Significant Accounting Policies (Textual) [Abstract]
Contribution of Key Wholesale Customers					11.00%

Property and Equipment (Details) - USD ($) $ in Millions	Dec. 31, 2016	Apr. 02, 2016
Property and equipment, net
Land and improvements	$ 17	$ 17
Buildings and improvements	456	460
Furniture and fixtures	698	727
Machinery and equipment	406	359
Capitalized software	540	460
Leasehold improvements	1,263	1,248
Construction in progress	134	216
Property and equipment, gross	3,514	3,487
Less: accumulated depreciation	(2,000)	(1,904)
Property and equipment, net	$ 1,514	$ 1,583

Other Assets and Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2016	Apr. 02, 2016
Prepaid Expense and Other Assets, Current
Other taxes receivable	$ 119	$ 112
Derivative financial instruments, current	60	16
Prepaid rent expense	39	37
Tenant allowances receivable	16	13
Prepaid samples	11	9
Restricted cash, current	9	17
Prepaid advertising and marketing	6	7
Other prepaid expenses and other current assets	61	57
Prepaid expenses and other current assets	321	268
Other Assets, Noncurrent
Non-current investments	82	187
Restricted cash, noncurrent	33	29
Security deposits	29	32
Derivative Asset, Noncurrent	19	6
Other non-current assets	39	42
Total other non-current assets	202	296
Accrued Expenses and Other Current Liabilities
Accrued operating expenses	209	186
Accrued payroll and benefits	177	149
Accrued inventory	160	176
Other taxes payable	155	139
Restructuring reserve	85	40
Accrued capital expenditures	56	65
Dividends payable	41	41
Deferred income	34	50
Capital lease obligations	22	21
Derivative financial instruments, current	9	26
Other accrued expenses and current liabilities	7	5
Total accrued expenses and other current liabilities	955	898
Other Non-Current Liabilities
Capital lease obligations	252	266
Deferred rent obligations	208	222
Deferred tax liabilities	14	17
Derivative financial instruments, noncurrent	9	33
Deferred compensation	8	8
Other non-current liabilities	48	47
Total other non-current liabilities	$ 539	$ 593

Impairment of Assets (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015
Asset Impairment Charges [Abstract]
Asset Impairment Charges	$ 11	$ 9	$ 57	$ 24

Restructuring and Other Charges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015
Way Forward Plan [Member]
Restructuring Cost and Reserve [Line Items]
Cash-related restructuring charges	$ 66		$ 189
Non-cash charges	25		206
Restructuring and non-cash charges	91		395
Way Forward Plan [Member] \| Severance and benefit costs
Restructuring Cost and Reserve [Line Items]
Cash-related restructuring charges	14		116
Way Forward Plan [Member] \| Lease termination and store closure costs
Restructuring Cost and Reserve [Line Items]
Cash-related restructuring charges	49		64
Way Forward Plan [Member] \| Other cash charges
Restructuring Cost and Reserve [Line Items]
Cash-related restructuring charges	3		9
Way Forward Plan [Member] \| Impairment of assets
Restructuring Cost and Reserve [Line Items]
Non-cash charges	11		57
Way Forward Plan [Member] \| Inventory-related charges
Restructuring Cost and Reserve [Line Items]
Non-cash charges	14		149
Way Forward Plan [Member] \| Inventory-related charges \| Reduction of inventory out of current liquidation channels [Member]
Restructuring Cost and Reserve [Line Items]
Non-cash charges	11		125
Global Reorganization Plan [Member]
Restructuring Cost and Reserve [Line Items]
Cash-related restructuring charges	0	$ 14	5	$ 67
Non-cash charges	0	28	0	46
Restructuring and non-cash charges	0	42	5	113
Cash-related Restructuring Charges, Cost Incurred to Date	91		91
Non-cash Charges, Cost Incurred to Date	56		56
Restructuring and Related Cost, Cost Incurred to Date	147		147
Global Reorganization Plan [Member] \| Severance and benefit costs
Restructuring Cost and Reserve [Line Items]
Cash-related restructuring charges	0	11	5	49
Cash-related Restructuring Charges, Cost Incurred to Date	69		69
Global Reorganization Plan [Member] \| Lease termination and store closure costs
Restructuring Cost and Reserve [Line Items]
Cash-related restructuring charges	0	0	0	7
Cash-related Restructuring Charges, Cost Incurred to Date	8		8
Global Reorganization Plan [Member] \| Other cash charges
Restructuring Cost and Reserve [Line Items]
Cash-related restructuring charges	0	3	0	11
Cash-related Restructuring Charges, Cost Incurred to Date	14		14
Global Reorganization Plan [Member] \| Impairment of assets
Restructuring Cost and Reserve [Line Items]
Non-cash charges	0	9	0	24
Non-cash Charges, Cost Incurred to Date	27		27
Global Reorganization Plan [Member] \| Accelerated stock-based compensation expense
Restructuring Cost and Reserve [Line Items]
Non-cash charges	0	9	0	9
Non-cash Charges, Cost Incurred to Date	9		9
Global Reorganization Plan [Member] \| Inventory-related charges
Restructuring Cost and Reserve [Line Items]
Non-cash charges	0	$ 10	0	$ 13
Non-cash Charges, Cost Incurred to Date	$ 20		$ 20

Restructuring and Other Charges (Details 1) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015
Way Forward Plan [Member]
Restructuring Reserve [Roll Forward]
Beginning Reserve Balance			$ 0
Additions charged to expense	$ 66		189
Cash payments charged against reserve			(122)
Restructuring Reserve, Translation and Other Adjustment			(2)
Ending Reserve Balance	65		65
Way Forward Plan [Member] \| Severance and benefit costs
Restructuring Reserve [Roll Forward]
Beginning Reserve Balance			0
Additions charged to expense	14		116
Cash payments charged against reserve			(65)
Restructuring Reserve, Translation and Other Adjustment			(1)
Ending Reserve Balance	50		50
Way Forward Plan [Member] \| Lease termination and store closure costs
Restructuring Reserve [Roll Forward]
Beginning Reserve Balance			0
Additions charged to expense	49		64
Cash payments charged against reserve			(50)
Restructuring Reserve, Translation and Other Adjustment			(1)
Ending Reserve Balance	13		13
Way Forward Plan [Member] \| Other cash charges
Restructuring Reserve [Roll Forward]
Beginning Reserve Balance			0
Additions charged to expense	3		9
Cash payments charged against reserve			(7)
Restructuring Reserve, Translation and Other Adjustment			0
Ending Reserve Balance	2		2
Global Reorganization Plan [Member]
Restructuring Reserve [Roll Forward]
Beginning Reserve Balance			40
Additions charged to expense	0	$ 14	5	$ 67
Cash payments charged against reserve			(25)
Ending Reserve Balance	20		20
Global Reorganization Plan [Member] \| Severance and benefit costs
Restructuring Reserve [Roll Forward]
Beginning Reserve Balance			31
Additions charged to expense	0	11	5	49
Cash payments charged against reserve			(21)
Ending Reserve Balance	15		15
Global Reorganization Plan [Member] \| Lease termination and store closure costs
Restructuring Reserve [Roll Forward]
Beginning Reserve Balance			6
Additions charged to expense	0	0	0	7
Cash payments charged against reserve			(2)
Ending Reserve Balance	4		4
Global Reorganization Plan [Member] \| Other cash charges
Restructuring Reserve [Roll Forward]
Beginning Reserve Balance			3
Additions charged to expense	0	$ 3	0	$ 11
Cash payments charged against reserve			(2)
Ending Reserve Balance	$ 1		$ 1

Restructuring and Other Charges (Details Textual) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Dec. 26, 2015	Dec. 26, 2015	Feb. 02, 2017	Dec. 31, 2016
Restructuring Cost and Reserve and Other Charges [Line Items]
Customs Audit Assessment Charges	$ 34	$ 34
Other Nonrecurring Expense	$ 1	$ 13
Way Forward Plan [Member] \| Cash and non-cash charges, excluding additional non-cash inventory charges [Member]
Restructuring Cost and Reserve and Other Charges [Line Items]
Restructuring and Related Cost, Expected Cost				$ 400
Way Forward Plan [Member] \| Cash-related restructuring charges [Member]
Restructuring Cost and Reserve and Other Charges [Line Items]
Restructuring and Related Cost, Expected Cost				300
Way Forward Plan [Member] \| Non-cash charges, excluding additional non-cash inventory charges [Member]
Restructuring Cost and Reserve and Other Charges [Line Items]
Restructuring and Related Cost, Expected Cost				100
Way Forward Plan [Member] \| Additional non-cash inventory charges [Member] \| Reduction of inventory out of current liquidation channels [Member] \| Maximum [Member]
Restructuring Cost and Reserve and Other Charges [Line Items]
Restructuring and Related Cost, Expected Cost				$ 150
Subsequent Event [Member]
Restructuring Cost and Reserve and Other Charges [Line Items]
Total estimated charges to be incurred related to CEO departure			$ 20

Income Taxes (Details Textual) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015	Apr. 02, 2016
Income Tax Disclosure [Abstract]
Effective tax rate	34.00%	27.50%	36.00%	27.60%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	35.00%	35.00%	35.00%	35.00%
Change in Accounting Estimate related to Reduction of Assessment Period, Financial Effect on Provision for Income Taxes				$ (8)
Change in Accounting Estimate related to Reduction of Assessment Period, Impact on Basic Earnings Per Share				$ 0.09
Change in Accounting Estimate related to Reduction of Assessment Period, Impact on Dilutive Earnings per Share				$ 0.09
Non-current liability for unrecognized tax benefits	$ 77		$ 77		$ 81
Unrecognized Tax Benefits, Period Increase (Decrease)			(4)
Unrecognized Tax Benefits, reduction related to state reserve releases			3
Unrecognized Tax Benefits, Decrease Resulting from Settlements with Taxing Authorities			12
Unrecognized Tax Benefits, Increase Resulting from Settlements with Taxing Authorities			8
Unrecognized Tax Benefits, Other Increase			3
Unrecognized tax benefits that, if recognized, would affect the effective tax rate	60		60		$ 60
Decrease in Interest Currently Included in Unrecognized Tax Benefits is Reasonably Possible	$ 16		$ 16

Debt (Details) - USD ($) $ in Millions	Dec. 31, 2016	Apr. 02, 2016
Debt Instrument [Line Items]
Commercial Paper	$ 0	$ 90
Line of Credit, Current	0	26
Total Debt	589	713
Short-term Debt	0	116
Long-term debt	589	597
2.125% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	298	301
Interest Rate Fair Value Hedge Derivative at Fair Value, Net	1	(2)
Unamortized Debt Issuance Expense	1	1
2.625% Senior Notes [Member]
Debt Instrument [Line Items]
Senior Notes	291	296
Interest Rate Fair Value Hedge Derivative at Fair Value, Net	7	2
Unamortized Debt Issuance Expense	$ 2	$ 2

Debt (Details Textual) € in Millions, $ in Millions	9 Months Ended	12 Months Ended
Debt (Details Textual) € in Millions, $ in Millions	Dec. 31, 2016 USD ($)	Mar. 29, 2014	Oct. 03, 2013 EUR (€)
2.125% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 300
Debt Instrument, Maturity Date	Sep. 26, 2018
Long-term debt, net of discount	99.896%
Debt Instrument, Interest Rate, Stated Percentage	2.125%
2.625% Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 300
Debt Instrument, Maturity Date	Aug. 18, 2020
Long-term debt, net of discount	99.795%
Debt Instrument, Interest Rate, Stated Percentage	2.625%
Euro Debt [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount \| €			€ 209
Debt Instrument, Maturity Date		Oct. 04, 2013
Debt Instrument, Interest Rate, Stated Percentage			4.50%
Senior Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage	100.00%
Debt Instrument, Restrictive Covenants	The Indenture contains certain covenants that restrict the Company's ability, subject to specified exceptions, to incur certain liens; enter into sale and leaseback transactions; consolidate or merge with another party; or sell, lease, or convey all or substantially all of the Company's property or assets to another party. However, the Indenture does not contain any financial covenants.

Debt (Details Textual 1) ¥ in Millions, ₩ in Billions	3 Months Ended	9 Months Ended
Debt (Details Textual 1) ¥ in Millions, ₩ in Billions	Jul. 02, 2016 USD ($)	Dec. 31, 2016 USD ($) Quarter	Dec. 31, 2016 KRW (₩)	Dec. 31, 2016 CNY (¥)	Apr. 02, 2016 USD ($)	Mar. 28, 2015 USD ($)
Credit Facilities (Textual) [Abstract]
Commercial Paper		$ 0			$ 90,000,000
Maximum expected combined borrowings outstanding - Commercial Paper Program and Global Credit Facility		500,000,000
Commercial Paper [Member]
Credit Facilities (Textual) [Abstract]
Maximum borrowing capacity		$ 500,000,000				$ 300,000,000
Commercial Paper [Member] \| Maximum [Member]
Credit Facilities (Textual) [Abstract]
Short-term Debt, Terms		397 days
Global Credit Facility [Member]
Credit Facilities (Textual) [Abstract]
Maximum borrowing capacity		$ 750,000,000
Borrowing capacity under unsecured revolving line of credit		$ 500,000,000
Line of credit facility, expiration date		Feb. 11, 2020
Borrowings outstanding under revolving credit facilities		$ 0
Line of credit facility, contingent liability for outstanding LOCs		$ 8,000,000
Credit facility covenant terms		The Global Credit Facility contains a number of covenants that, among other things, restrict the Company's ability, subject to specified exceptions, to incur additional debt; incur liens; sell or dispose of assets; merge with or acquire other companies; liquidate or dissolve itself; engage in businesses that are not in a related line of business; make loans, advances, or guarantees; engage in transactions with affiliates; and make certain investments. The Global Credit Facility also requires the Company to maintain a maximum ratio of Adjusted Debt to Consolidated EBITDAR (the "leverage ratio") of no greater than 3.75 as of the date of measurement for the four most recent consecutive fiscal quarters. Adjusted Debt is defined generally as consolidated debt outstanding plus four times consolidated rent expense for the four most recent consecutive fiscal quarters. Consolidated EBITDAR is defined generally as consolidated net income plus (i) income tax expense, (ii) net interest expense, (iii) depreciation and amortization expense, (iv) consolidated rent expense, (v) restructuring and other non-recurring expenses, and (vi) acquisition-related costs.
Credit Facility covenant compliance		no Event of Default (as such term is defined pursuant to the Global Credit Facility) has occurred under the Company's Global Credit Facility
Maximum Ratio Of Adjusted Debt To Consolidated EBITDAR As Of Date Of Measurement For Four Consecutive Quarters		3.75
Leverage Ratio Number Of Consecutive Fiscal Quarters Used \| Quarter		4
Leverage Ratio Rent Expense Multiplier		4
China Credit Facility [Member]
Credit Facilities (Textual) [Abstract]
Maximum borrowing capacity		$ 14,000,000		¥ 100
Line of credit facility, expiration date		Apr. 06, 2017
South Korea Credit Facility [Member]
Credit Facilities (Textual) [Abstract]
Maximum borrowing capacity		$ 39,000,000	₩ 47
Line of credit facility, expiration date		Oct. 31, 2017
Pan-Asia Credit Facilities [Member]
Credit Facilities (Textual) [Abstract]
Borrowings outstanding under revolving credit facilities		$ 0
Repayments of Lines of Credit	$ 26,000,000

Fair Value Measurements (Details) - USD ($) $ in Millions	Dec. 31, 2016	Apr. 02, 2016
Financial assets recorded at fair value:
Derivative Asset, Fair Value	$ 79	$ 22
Assets, Fair Value Disclosure, Recurring	86	30
Financial liabilities recorded at fair value:
Derivative Liability, Fair Value	18	59
Liabilities, Fair Value Disclosure, Recurring	18	59
Fair Value, Inputs, Level 2 [Member] \| Fair Value, Measurements, Recurring [Member]
Financial assets recorded at fair value:
Derivative Asset, Fair Value	79	22
Financial liabilities recorded at fair value:
Derivative Liability, Fair Value	18	59
Corporate Bond Securities [Member] \| Fair Value, Inputs, Level 1 [Member] \| Fair Value, Measurements, Recurring [Member]
Financial assets recorded at fair value:
Investments recorded at fair value	$ 7	$ 8

Fair Value Measurements (Details 1) - USD ($) $ in Millions	Dec. 31, 2016	Apr. 02, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Line of Credit, Current	$ 0	$ 26
2.125% Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes, Carrying Value	298	301
2.625% Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes, Carrying Value	291	296
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Line of Credit Facility, Fair Value of Amount Outstanding	0	26
Fair Value, Inputs, Level 2 [Member] \| 2.125% Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes, Fair Value	303	306
Fair Value, Inputs, Level 2 [Member] \| 2.625% Senior Notes [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Senior Notes, Fair Value	303	308
Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commercial Paper, at Carrying Value	0	90
Commercial Paper [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Commercial Paper, Fair Value	$ 0	$ 90

Fair Value Measurements (Details 2) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Fair Value Measurements (Details 2) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015
Fair Value Disclosures [Abstract]
Carrying value of long-lived assets impaired			$ 57	$ 24
Asset Impairment Charges	$ (11)	$ (9)	(57)	(24)
Assumed Fair Value of Impaired Long-Lived Assets			0	0
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, Impairment Loss			$ 0	$ 0

Financial Instruments (Details) - USD ($) $ in Millions	Dec. 31, 2016	Apr. 02, 2016
Notional Amounts of Derivative Financial Instruments
Notional amount of hedges	$ 2,310	$ 2,513
Derivative Assets
Derivative Asset, Fair Value	79	22
Derivative Liabilities
Derivative Liability, Fair Value	18	59
Designated [Member]
Notional Amounts of Derivative Financial Instruments
Notional amount of hedges	1,771	1,972
Derivative Assets
Derivative Asset, Fair Value	50	3
Derivative Liabilities
Derivative Liability, Fair Value	9	56
Designated [Member] \| Foreign Exchange Forward [Member]
Notional Amounts of Derivative Financial Instruments
Notional amount of hedges	594	742
Derivative Assets
Foreign Currency Cash Flow Hedge Asset at Fair Value	35
Designated [Member] \| Foreign Exchange Forward [Member] \| Prepaid Expenses and Other Current Assets [Member]
Derivative Assets
Foreign Currency Cash Flow Hedge Asset at Fair Value	31	1
Designated [Member] \| Foreign Exchange Forward [Member] \| Other Noncurrent Assets [Member]
Derivative Assets
Foreign Currency Cash Flow Hedge Asset at Fair Value	4
Designated [Member] \| Foreign Exchange Forward [Member] \| Accrued Expenses and Other Current Liabilities [Member]
Derivative Liabilities
Foreign Currency Cash Flow Hedge Liability at Fair Value		23
Designated [Member] \| Foreign Exchange Forward [Member] \| Other Noncurrent Liabilities [Member]
Derivative Liabilities
Foreign Currency Cash Flow Hedge Liability at Fair Value	1
Designated [Member] \| Interest Rate Swap [Member]
Notional Amounts of Derivative Financial Instruments
Notional amount of hedges	600	600
Derivative Assets
Interest Rate Fair Value Hedge Asset at Fair Value	0
Designated [Member] \| Interest Rate Swap [Member] \| Other Noncurrent Assets [Member]
Derivative Assets
Interest Rate Fair Value Hedge Asset at Fair Value		2
Designated [Member] \| Interest Rate Swap [Member] \| Other Noncurrent Liabilities [Member]
Derivative Liabilities
Interest Rate Fair Value Hedge Liability at Fair Value	8	2
Designated [Member] \| Cross Currency Interest Rate Contract [Member]
Notional Amounts of Derivative Financial Instruments
Notional amount of hedges	577	630
Derivative Assets
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Assets, Fair Value		0
Derivative Liabilities
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Liabilities, Fair Value	0
Designated [Member] \| Cross Currency Interest Rate Contract [Member] \| Other Noncurrent Assets [Member]
Derivative Assets
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Assets, Fair Value	15
Designated [Member] \| Cross Currency Interest Rate Contract [Member] \| Other Noncurrent Liabilities [Member]
Derivative Liabilities
Derivative Instruments in Hedges, Net Investment in Foreign Operations, Liabilities, Fair Value		31
Undesignated [Member] \| Foreign Exchange Forward [Member]
Notional Amounts of Derivative Financial Instruments
Notional amount of hedges	539	541
Derivative Assets
Derivative Asset, Fair Value		19
Undesignated [Member] \| Foreign Exchange Forward [Member] \| Prepaid Expenses and Other Current Assets [Member]
Derivative Assets
Derivative Asset, Fair Value	29	15
Undesignated [Member] \| Foreign Exchange Forward [Member] \| Other Noncurrent Assets [Member]
Derivative Assets
Derivative Asset, Fair Value		4
Undesignated [Member] \| Foreign Exchange Forward [Member] \| Accrued Expenses and Other Current Liabilities [Member]
Derivative Liabilities
Derivative Liability, Fair Value	$ 9	$ 3

Financial Instruments (Details 1) - USD ($) $ in Millions	Dec. 31, 2016	Apr. 02, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative asset, gross amount in the balance sheet	$ 79	$ 22
Gross amount of derivatives assets subject to master netting arrangements not offset	(15)	(11)
Derivative asset, net basis	64	11
Derivative liability, gross amount in the balance sheet	18	59
Gross amount of derivative liabilities subject to master netting arrangements not offset	(15)	(11)
Derivative liability, net basis	$ 3	$ 48

Financial Instruments (Details 2) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Financial Instruments (Details 2) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015
Reclassification of hedge gain (loss) from accumulated OCI into income
Cost of Goods Sold	$ (731)	$ (852)	$ (2,255)	$ (2,361)
Foreign currency gains (losses)	(2)	(3)	1	(9)
Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member] \| Cash Flow Hedging [Member]
Reclassification of hedge gain (loss) from accumulated OCI into income
Cost of Goods Sold	(3)	13	(4)	29
Foreign currency gains (losses)	9	0	3	0
Designated as Hedging Instrument [Member]
Total gain (loss) recognized in OCI on derivative instruments
Gain (Loss) Recognized In Other Comprehensive Income	96	10	92	(3)
Designated as Hedging Instrument [Member] \| Foreign Exchange Forward [Member] \| Cash Flow Hedging [Member]
Total gain (loss) recognized in OCI on derivative instruments
Gain (Loss) Recognized In Other Comprehensive Income	58	4	47	4
Designated as Hedging Instrument [Member] \| Cross Currency Interest Rate Contract [Member] \| Net Investment Hedging [Member]
Total gain (loss) recognized in OCI on derivative instruments
Gain (Loss) Recognized In Other Comprehensive Income	38	6	45	(7)
Designated as Hedging Instrument [Member] \| Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member]
Reclassification of hedge gain (loss) from accumulated OCI into income
Net income (loss)	6	13	(1)	29
Designated as Hedging Instrument [Member] \| Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member] \| Foreign Exchange Forward [Member] \| Cash Flow Hedging [Member]
Reclassification of hedge gain (loss) from accumulated OCI into income
Cost of Goods Sold	(3)	13	(4)	29
Foreign currency gains (losses)	$ 9	$ 0	$ 3	$ 0

Financial Instruments (Details 3) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Financial Instruments (Details 3) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ 14	$ 2	$ 3	$ 4
Foreign Exchange Forward [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	$ 14	$ 2	$ 3	$ 4

Financial Instruments (Details Textual) € in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2016 USD ($) counterparty	Dec. 26, 2015 USD ($)	Dec. 31, 2016 USD ($) counterparty	Dec. 26, 2015 USD ($)	Dec. 31, 2016 EUR (€) counterparty	Apr. 02, 2016 USD ($) counterparty
Derivative [Line Items]
Number of counterparties to master netting arrangements \| counterparty	8		8		8	8
Net gains (losses) deferred in AOCI for derivative financial instruments expected to be recognized in the earnings over the next 12 months			$ 31
Maximum length of time hedged in cash flow hedge			2 years
Foreign currency exchange forward contracts maturities, minimum			2 months
Foreign currency exchange forward contract maturities, maximum			2 years
Derivative, Notional Amount	$ 2,310		$ 2,310			$ 2,513
Interest Rate Swap [Member]
Derivative [Line Items]
Gain (Loss) on Fair Value Hedge Ineffectiveness, Net	$ 0	$ 0	$ 0	$ 0
Interest Rate Swap [Member] \| Interest Rate Swap - 2.125% Senior Notes [Member]
Derivative [Line Items]
Derivative, Maturity Date			Sep. 26, 2018
Interest Rate Swap [Member] \| Interest Rate Swap - 2.625% Senior Notes [Member]
Derivative [Line Items]
Derivative, Maturity Date			Aug. 18, 2020
Cross Currency Interest Rate Contract [Member] \| Cross-Currency Swap - 2.125% Senior Notes [Member]
Derivative [Line Items]
Derivative, Maturity Date			Sep. 26, 2018
Cross Currency Interest Rate Contract [Member] \| Cross-Currency Swap - 2.625% Senior Notes [Member]
Derivative [Line Items]
Derivative, Maturity Date			Aug. 18, 2020
2.125% Senior Notes [Member]
Derivative [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.125%		2.125%		2.125%
Debt Instrument, Face Amount	$ 300		$ 300
2.625% Senior Notes [Member]
Derivative [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.625%		2.625%		2.625%
Debt Instrument, Face Amount	$ 300		$ 300
Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivative, Notional Amount	1,771		1,771			1,972
Designated as Hedging Instrument [Member] \| Interest Rate Swap [Member]
Derivative [Line Items]
Derivative, Notional Amount	600		600			600
Designated as Hedging Instrument [Member] \| Interest Rate Swap [Member] \| Interest Rate Swap - 2.125% Senior Notes [Member]
Derivative [Line Items]
Derivative, Notional Amount	300		300
Designated as Hedging Instrument [Member] \| Interest Rate Swap [Member] \| Interest Rate Swap - 2.625% Senior Notes [Member]
Derivative [Line Items]
Derivative, Notional Amount	300		300
Designated as Hedging Instrument [Member] \| Cross Currency Interest Rate Contract [Member]
Derivative [Line Items]
Derivative, Notional Amount	$ 577		$ 577			$ 630
Designated as Hedging Instrument [Member] \| Cross Currency Interest Rate Contract [Member] \| Cross-Currency Swap - 2.125% Senior Notes [Member]
Derivative [Line Items]
Derivative, Notional Amount \| €					€ 280
Designated as Hedging Instrument [Member] \| Cross Currency Interest Rate Contract [Member] \| Cross-Currency Swap - 2.625% Senior Notes [Member]
Derivative [Line Items]
Derivative, Notional Amount \| €					€ 274

Financial Instruments (Details Textual 1) - USD ($) $ in Millions	9 Months Ended	12 Months Ended
	Dec. 31, 2016	Apr. 02, 2016
Schedule of Available-for-sale Securities [Line Items]
Time Deposits, Short term	$ 446	$ 621
Time Deposits, Long term	$ 82	$ 187
Non-current investment maturity range, lower end	1 year	1 year
Non-current investment maturity range, higher end	2 years	2 years
Corporate Bond Securities [Member] \| Fair Value, Inputs, Level 1 [Member]
Schedule of Available-for-sale Securities [Line Items]
Available-for-sale Securities, Debt Securities, Current	$ 7	$ 8

Commitments and Contingencies (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Dec. 26, 2015	Dec. 26, 2015	Dec. 31, 2016
Loss Contingency, Estimate [Abstract]
Other Nonrecurring Expense	$ 1	$ 13
Customs Audit [Member]
Loss Contingency, Estimate [Abstract]
Loss Contingency, Range of Possible Loss, Maximum			$ 46
Loss Contingency, Interest and Penalties			$ 11
Other Nonrecurring Expense	$ 34

Equity (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Equity (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015
Increase Decrease In Stockholders Equity [Roll Forward]
Beginning Balance			$ 3,744	$ 3,891
Comprehensive income	$ 39	$ 98	63	320
Dividends declared			(123)	(127)
Repurchases of common stock			(115)	(399)
Stock-based compensation			46	79
Shares issued and tax benefits (shortfalls) recognized pursuant to stock-based compensation arrangements			(5)	40
Ending Balance	$ 3,610	$ 3,804	$ 3,610	$ 3,804

Equity (Details 1) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Oct. 01, 2016	Jul. 02, 2016	Dec. 31, 2016	Dec. 26, 2015
Equity, Class of Treasury Stock [Line Items]
Repurchases of common stock			$ 115	$ 399
Accelerated Share Repurchase Program [Member]
Equity, Class of Treasury Stock [Line Items]
Accelerated Share Repurchase Program - Initial Payment			$ 100
Repurchases of common stock, shares	0.1	0.9	1.0
Shares received in initial delivery, percentage of total shares expected to be delivered under ASR		90.00%
Repurchases of common stock	$ 10	$ 90	$ 100
Treasury Stock Acquired, Average Cost Per Share			$ 98.48
General repurchase program [Member]
Equity, Class of Treasury Stock [Line Items]
Repurchases of common stock, shares				3.0
Repurchases of common stock				$ 380
Withholding in satisfaction of taxes on vested equity award [Member]
Equity, Class of Treasury Stock [Line Items]
Repurchases of common stock, shares			0.2	0.2
Repurchases of common stock			$ 15	$ 19

Equity (Details Textual) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015	May 11, 2016
Equity [Abstract]
Stock Repurchase Program, Remaining Available Amount	$ 200		$ 200
Stock Repurchase Program, Authorized Amount					$ 200
Treasury Stock, Value, Acquired, Cost Method			$ 115	$ 399
Dividends (Textual) [Abstract]
Dividends declared per share	$ 0.50	$ 0.50	$ 1.50	$ 1.50
Dividends Payable, Date Declared	Dec. 13, 2016
Dividends Payable, Date of Record	Dec. 30, 2016
Dividends Payable, Date to be Paid	Jan. 13, 2017
Dividends paid			$ 124	$ 128

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015
Accumulated Other Comprehensive Income (Loss) [Line Items]
Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Tax			$ 19	$ (2)
Gain (Loss) on Derivative Used in Net Investment Hedge, Net of Tax			28	(4)
Gain (Loss) on Derivative Used in Net Investment Hedge, Tax			17	(3)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax			5	1
Accumulated Other Comprehensive Income (Loss), Net Of Tax [Roll Forward]
Beginning balance			(181)	(165)
OCI before reclassifications			(44)	(9)
Amounts reclassified from AOCI to earnings			2	(26)
Other comprehensive income (loss), net of tax	$ (43)	$ (33)	(42)	(35)
Ending balance	(223)	(200)	(223)	(200)
Foreign Currency Translation Gains (Losses) [Member]
Accumulated Other Comprehensive Income (Loss), Net Of Tax [Roll Forward]
Beginning balance			(157)	(193)
OCI before reclassifications			(87)	(13)
Amounts reclassified from AOCI to earnings			0	0
Other comprehensive income (loss), net of tax			(87)	(13)
Ending balance	(244)	(206)	(244)	(206)
Net Unrealized Gains (Losses) on Cash Flow Hedges [Member]
Accumulated Other Comprehensive Income (Loss), Net Of Tax [Roll Forward]
Beginning balance			(12)	43
OCI before reclassifications			42	3
Amounts reclassified from AOCI to earnings			1	(27)
Other comprehensive income (loss), net of tax			43	(24)
Ending balance	31	19	31	19
Net Unrealized Gains (Losses) on Defined Benefit Plans [Member]
Accumulated Other Comprehensive Income (Loss), Net Of Tax [Roll Forward]
Beginning balance			(12)	(15)
OCI before reclassifications			1	1
Amounts reclassified from AOCI to earnings			1	1
Other comprehensive income (loss), net of tax			2	2
Ending balance	$ (10)	$ (13)	$ (10)	$ (13)

Accumulated Other Comprehensive Income (Loss) (Details 1) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income (Loss) on Derivatives [Line Items]
Cost of Goods Sold	$ (731)	$ (852)	$ (2,255)	$ (2,361)
Foreign currency gains (losses)	(2)	(3)	1	(9)
Income tax benefit (provision)	(42)	(50)	(59)	(135)
Net income	82	131	105	355
Cash Flow Hedging [Member] \| Reclassification out of Accumulated Other Comprehensive Income (Loss) [Member]
Reclassification Adjustment out of Accumulated Other Comprehensive Income (Loss) on Derivatives [Line Items]
Cost of Goods Sold	(3)	13	(4)	29
Foreign currency gains (losses)	9	0	3	0
Income tax benefit (provision)	(1)	(2)	0	(2)
Net income	$ 5	$ 11	$ (1)	$ 27

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References + Details

Stock-based Compensation (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Stock-based Compensation (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015
Summary of the total compensation expense recorded within SG&A expenses and the associated income tax benefits recognized related to stock-based compensation arrangements
Compensation expense	$ 14	$ 25	$ 46	$ 79
Income tax benefit	$ (5)	(10)	$ (17)	(30)
Share-based compensation accelerated expense		$ 9		$ 9

Stock-based Compensation (Details 1) shares in Thousands	9 Months Ended
Stock-based Compensation (Details 1) shares in Thousands	Dec. 31, 2016 shares
Summary of the stock option activity
Options beginning outstanding	2,418
Granted	0
Exercised	(83)
Cancelled/Forfeited	(557)
Options ending outstanding	1,778

Stock-based Compensation (Details 2) shares in Thousands	9 Months Ended
Stock-based Compensation (Details 2) shares in Thousands	Dec. 31, 2016 shares
Restricted Stock [Member]
Summary of restricted stock and service-based RSU activity
Nonvested beginning balance	14
Granted	0
Vested	0
Forfeited	0
Nonvested ending balance	14
Service-Based Restricted Stock Units [Member]
Summary of restricted stock and service-based RSU activity
Nonvested beginning balance	490
Granted	670
Vested	(152)
Forfeited	(132)
Nonvested ending balance	876

Stock-based Compensation (Details 3) shares in Thousands	9 Months Ended
Stock-based Compensation (Details 3) shares in Thousands	Dec. 31, 2016 shares
Performance Shares [Member]
Summary of the performance-based RSU activity
Nonvested beginning balance	691
Granted	428
Change due to performance or market conditions achievement	(14)
Vested	(216)
Forfeited	(92)
Nonvested ending balance	797
Performance Based Restricted Stock Units With Tsr Modifier [Member]
Summary of the performance-based RSU activity
Nonvested beginning balance	142
Granted	0
Change due to performance or market conditions achievement	(25)
Vested	(49)
Forfeited	(7)
Nonvested ending balance	61

Stock-based Compensation (Details Textual) - $ / shares shares in Millions	9 Months Ended
	Dec. 31, 2016	Dec. 26, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized	0.9
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value of equity awards other than options		$ 131.40
Service-Based Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value of equity awards other than options	$ 83.92	126.06
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average grant date fair value of equity awards other than options	$ 86.15	$ 126.71

Segment Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Segment Information (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015
Net revenues by segment
Sales revenue	$ 1,670	$ 1,899	$ 4,957	$ 5,399
Licensing revenue	44	47	130	135
Total net revenues	1,714	1,946	5,087	5,534
Wholesale [Member]
Net revenues by segment
Sales revenue	582	786	2,020	2,355
Retail [Member]
Net revenues by segment
Sales revenue	1,088	1,113	2,937	3,044
Licensing [Member]
Net revenues by segment
Licensing revenue	$ 44	$ 47	$ 130	$ 135

Segment Information (Details 1) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Segment Information (Details 1) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015
Operating income by segment
Operating income	$ 128	$ 189	$ 173	$ 515
Restructuring and other charges	(66)	(58)	(194)	(123)
Non-cash restructuring-related inventory charges			(149)	(13)
Asset Impairment Charges	(11)	(9)	(57)	(24)
Segment Reconciling Items [Member]
Operating income by segment
Unallocated corporate expenses	(131)	(114)	(454)	(418)
Restructuring and other charges	(66)	(58)	(194)	(123)
Wholesale [Member]
Operating income by segment
Operating income	122	183	458	567
Non-cash restructuring-related inventory charges	(2)		(20)
Asset Impairment Charges	(2)	(1)	(10)	(6)
Retail Segment [Member]
Operating income by segment
Operating income	166	136	248	369
Non-cash restructuring-related inventory charges	(12)	(10)	(129)	(13)
Asset Impairment Charges	(4)	(8)	(42)	(18)
Licensing Segment [Member]
Operating income by segment
Operating income	37	42	115	120
Asset Impairment Charges	(5)		(5)
Operating Segments [Member]
Operating income by segment
Operating income	$ 325	$ 361	$ 821	$ 1,056

Segment Information (Details 2) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Segment Information (Details 2) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015
Segment Reporting Information [Line Items]
Other Nonrecurring Expense		$ (1)		$ (13)
Restructuring and other charges	$ (66)	(58)	$ (194)	(123)
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Restructuring charges	(66)	(23)	(194)	(76)
Other Nonrecurring Expense	0	(35)	0	(47)
Restructuring and other charges	(66)	(58)	(194)	(123)
Segment Reconciling Items [Member] \| Wholesale-Related [Member]
Segment Reporting Information [Line Items]
Restructuring charges	(4)	0	(27)	(10)
Segment Reconciling Items [Member] \| Retail-Related [Member]
Segment Reporting Information [Line Items]
Restructuring charges	(51)	(1)	(77)	(20)
Segment Reconciling Items [Member] \| Licensing-Related [Member]
Segment Reporting Information [Line Items]
Restructuring charges	0	0	(2)	(1)
Segment Reconciling Items [Member] \| Corporate and Other [Member]
Segment Reporting Information [Line Items]
Restructuring charges	$ (11)	$ (22)	$ (88)	$ (45)

Segment Information (Details 3) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Segment Information (Details 3) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015
Segment Reporting Information [Line Items]
Depreciation and amortization expense	$ 78	$ 76	$ 232	$ 227
Wholesale Segment [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization expense	14	15	43	45
Retail Segment [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization expense	37	39	111	117
Licensing Segment [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization expense	0	1	1	1
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization expense	$ 27	$ 21	$ 77	$ 64

Segment Information (Details 4) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Segment Information (Details 4) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015
Revenues from External Customers [Line Items]
Net revenues	$ 1,714	$ 1,946	$ 5,087	$ 5,534
Americas [Member]
Revenues from External Customers [Line Items]
Net revenues	1,126	1,321	3,242	3,719
Europe [Member]
Revenues from External Customers [Line Items]
Net revenues	352	399	1,181	1,163
Asia [Member]
Revenues from External Customers [Line Items]
Net revenues	236	226	664	652
U.S. [Member]
Revenues from External Customers [Line Items]
Net revenues	$ 1,064	$ 1,251	$ 3,066	$ 3,527

Additional Financial Information (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Dec. 31, 2016	Dec. 26, 2015	Dec. 31, 2016	Dec. 26, 2015
Cash Interest and Taxes
Cash paid for interest	$ 3	$ 3	$ 10	$ 8
Cash paid for income taxes	$ 19	$ 26	69	151
Additional Financial Information (Textual) [Abstract]
Capital expenditures incurred but not yet paid			56	$ 97
Capital lease asset recognized			5
Capital Lease Obligations Incurred			$ 5

Subsequent Event (Details) - Subsequent Event [Member] $ in Millions	Feb. 02, 2017 USD ($)
Subsequent Event [Line Items]
Expected severance-related payments related to CEO departure	$ 10
Total estimated charges to be incurred related to CEO departure	$ 20

Description of Business (Details)	9 Months Ended
Description of Business (Details)	Dec. 31, 2016 Segment
Description of Business [Abstract]
Number of reportable segments	3

Segment Information (Details Textual)	9 Months Ended
Segment Information (Details Textual)	Dec. 31, 2016 Segment
Segment Reporting [Abstract]
Number of reportable segments	3