Capri Holdings Ltd Leases Disclosure
| Balance Sheet Location | March 29, 2025 | March 30, 2024 | ||||||||||||||||||
| Assets | ||||||||||||||||||||
| Operating leases | Operating lease right-of-use assets | $ | 1,213 | $ | 1,438 | |||||||||||||||
| Liabilities | ||||||||||||||||||||
| Current: | ||||||||||||||||||||
| Operating leases | Short-term portion of operating lease liabilities | $ | 350 | $ | 400 | |||||||||||||||
| Non-current: | ||||||||||||||||||||
| Operating leases | Long-term portion of operating lease liabilities | $ | 1,253 | $ | 1,452 | |||||||||||||||
| Consolidated Statement of Operations and Comprehensive (Loss) Income Location | March 29, 2025 | March 30, 2024 | ||||||||||||||||||
| Operating lease cost | Selling, general and administrative expenses | $ | 399 | $ | 402 | |||||||||||||||
Variable lease cost | Selling, general and administrative expenses | 183 | 201 | |||||||||||||||||
| Short-term lease cost | Selling, general and administrative expenses | 4 | 3 | |||||||||||||||||
| Sublease income | Selling, general and administrative expenses | (8) | (7) | |||||||||||||||||
| Total lease cost, net | $ | 578 | $ | 599 | ||||||||||||||||
| March 29, 2025 | March 30, 2024 | |||||||||||||||||||
| Cash paid for amounts included in the measurement of lease liabilities: | ||||||||||||||||||||
| Operating cash flows used in operating leases | $ | 494 | $ | 516 | ||||||||||||||||
| Non-cash transactions: | ||||||||||||||||||||
| Lease assets obtained in exchange for new lease liabilities | 231 | 528 | ||||||||||||||||||
| March 29, 2025 | March 30, 2024 | |||||||||||||||||||
| Operating leases: | ||||||||||||||||||||
| Weighted average remaining lease term (years) | 6.4 | 6.6 | ||||||||||||||||||
| Weighted average discount rate | 4.6 | % | 4.3 | % | ||||||||||||||||
| March 29, 2025 | ||||||||||||||
| Fiscal 2026 | $ | 420 | ||||||||||||
| Fiscal 2027 | 322 | |||||||||||||
| Fiscal 2028 | 266 | |||||||||||||
| Fiscal 2029 | 209 | |||||||||||||
| Fiscal 2030 | 164 | |||||||||||||
| Thereafter | 501 | |||||||||||||
| Total lease payments | 1,882 | |||||||||||||
| Less: interest | (279) | |||||||||||||
| Total lease liabilities | $ | 1,603 | ||||||||||||
| March 29, 2025 | ||||||||||||||
| Fiscal 2026 | $ | 6 | ||||||||||||
| Fiscal 2027 | 5 | |||||||||||||
| Fiscal 2028 | 3 | |||||||||||||
| Fiscal 2029 | 1 | |||||||||||||
| Fiscal 2030 | 1 | |||||||||||||
| Thereafter | 1 | |||||||||||||
| Total sublease income | $ | 17 | ||||||||||||
About Leases Disclosures
Lease disclosures under ASC 842 provide a comprehensive view of a company's leased asset portfolio, including the split between operating and finance leases, discount rates used to present-value future payments, and the maturity schedule of lease obligations. This section reveals a significant source of off-balance-sheet commitments that were largely hidden before the current standard.
Key signals: the weighted-average discount rate affects the size of recorded lease liabilities — a higher rate reduces the reported obligation, so compare the chosen rate against the company's incremental borrowing rate. The operating versus finance lease mix affects both EBITDA and operating income presentation. Watch the maturity table for concentration risk: large payment cliffs in specific years may create cash flow pressure. Variable lease payments excluded from the liability measurement represent real obligations that do not appear on the balance sheet. Compare total lease costs against prior-year operating lease expense to assess the true economic burden.