Exhibit 99.1
Schedule of Reclassified Segment Data
Supplemental Financial Information
Non-U.S. GAAP Operating Income (Loss)
(In millions)
(Unaudited)
Fiscal 2019 | ||||||||||||||||||||||||
First Quarter | Second Quarter | |||||||||||||||||||||||
As Reported | Adjustment | As Recast | As Reported | Adjustment | As Recast | |||||||||||||||||||
Income from operations: | ||||||||||||||||||||||||
MK Retail | $ | 93 | $ | (93 | ) | $ | — | $ | 67 | $ | (67 | ) | $ | — | ||||||||||
MK Wholesale | $ | 97 | $ | (97 | ) | $ | — | $ | 131 | $ | (131 | ) | $ | — | ||||||||||
MK Licensing | $ | 9 | $ | (9 | ) | $ | — | $ | 10 | $ | (10 | ) | $ | — | ||||||||||
Michael Kors | $ | 199 | $ | 31 | $ | 230 | $ | 208 | $ | 40 | $ | 248 | ||||||||||||
Jimmy Choo | 16 | 6 | 22 | (18 | ) | 9 | (9 | ) | ||||||||||||||||
Versace | — | — | — | — | — | — | ||||||||||||||||||
Total segment income from operations | 215 | 37 | 252 | 190 | 49 | 239 | ||||||||||||||||||
Less: | Corporate expenses | — | (22 | ) | (22 | ) | — | (23 | ) | (23 | ) | |||||||||||||
Restructuring and other charges | — | (11 | ) | (11 | ) | — | (19 | ) | (19 | ) | ||||||||||||||
Impairment of long-lived assets | — | (4 | ) | (4 | ) | — | (7 | ) | (7 | ) | ||||||||||||||
Total income from operations | $ | 215 | $ | — | $ | 215 | $ | 190 | $ | — | $ | 190 |
Fiscal 2019 | ||||||||||||||||||||
Third Quarter | Fourth Quarter | Full Year | ||||||||||||||||||
As Reported | Adjustment | As Recast | As Reported | As Reported | ||||||||||||||||
Income from operations: | ||||||||||||||||||||
MK Retail | $ | 150 | $ | (150 | ) | $ | — | |||||||||||||
MK Wholesale | $ | 109 | $ | (109 | ) | $ | — | |||||||||||||
MK Licensing | $ | 26 | $ | (26 | ) | $ | — | |||||||||||||
Michael Kors | $ | 285 | $ | 35 | $ | 320 | $ | 166 | $ | 964 | ||||||||||
Jimmy Choo | 5 | 10 | 15 | (8 | ) | 20 | ||||||||||||||
Versace | — | — | — | (11 | ) | (11 | ) | |||||||||||||
Total segment income from operations | 290 | 45 | 335 | 147 | 973 | |||||||||||||||
Less: | Corporate expenses | — | (20 | ) | (20 | ) | (28 | ) | (93 | ) | ||||||||||
Restructuring and other charges | — | (19 | ) | (19 | ) | (75 | ) | (124 | ) | |||||||||||
Impairment of long-lived assets | — | (6 | ) | (6 | ) | (4 | ) | (21 | ) | |||||||||||
Total income from operations | $ | 290 | $ | — | $ | 290 | $ | 40 | $ | 735 |
Schedule of Reclassified Segment Data
Supplemental Financial Information
Non-U.S. GAAP Operating Income (Loss)
(In millions)
(Unaudited)
Fiscal 2018 | ||||||||||||||||||||||||
First Quarter | Second Quarter | |||||||||||||||||||||||
As Reported | Adjustment | As Recast | As Reported | Adjustment | As Recast | |||||||||||||||||||
Income from operations: | ||||||||||||||||||||||||
MK Retail | $ | 92 | $ | (92 | ) | $ | — | $ | 69 | $ | (69 | ) | $ | — | ||||||||||
MK Wholesale | $ | 43 | $ | (43 | ) | $ | — | $ | 120 | $ | (120 | ) | $ | — | ||||||||||
MK Licensing | $ | 14 | $ | (14 | ) | $ | — | $ | 10 | $ | (10 | ) | $ | — | ||||||||||
Michael Kors | $ | 149 | $ | 24 | $ | 173 | $ | 199 | $ | 57 | $ | 256 | ||||||||||||
Jimmy Choo | — | — | — | — | — | — | ||||||||||||||||||
Total segment income from operations | 149 | 24 | 173 | 199 | 57 | 256 | ||||||||||||||||||
Less: | Corporate expenses | — | (23 | ) | (23 | ) | — | (19 | ) | (19 | ) | |||||||||||||
Restructuring and other charges | — | (1 | ) | (1 | ) | — | (22 | ) | (22 | ) | ||||||||||||||
Impairment of long-lived assets | — | — | — | — | (16 | ) | (16 | ) | ||||||||||||||||
Total income from operations | $ | 149 | $ | — | $ | 149 | $ | 199 | $ | — | $ | 199 | ||||||||||||
Fiscal 2018 | ||||||||||||||||||||||||
Third Quarter | Fourth Quarter | |||||||||||||||||||||||
As Reported | Adjustment | As Recast | As Reported | Adjustment | As Recast | |||||||||||||||||||
Income from operations: | ||||||||||||||||||||||||
MK Retail | $ | 180 | $ | (180 | ) | $ | — | $ | (7 | ) | $ | 7 | $ | — | ||||||||||
MK Wholesale | $ | 101 | $ | (101 | ) | $ | — | $ | 110 | $ | (110 | ) | $ | — | ||||||||||
MK Licensing | $ | 27 | $ | (27 | ) | $ | — | $ | 7 | $ | (7 | ) | $ | — | ||||||||||
Michael Kors | $ | 308 | $ | 43 | $ | 351 | $ | 110 | $ | 85 | $ | 195 | ||||||||||||
Jimmy Choo | 6 | 8 | 14 | (23 | ) | 5 | (18 | ) | ||||||||||||||||
Total segment income from operations | 314 | 51 | 365 | 87 | 90 | 177 | ||||||||||||||||||
Less: | Corporate expenses | — | (20 | ) | (20 | ) | — | (25 | ) | (25 | ) | |||||||||||||
Restructuring and other charges | — | (28 | ) | (28 | ) | — | (51 | ) | (51 | ) | ||||||||||||||
Impairment of long-lived assets | — | (3 | ) | (3 | ) | — | (14 | ) | (14 | ) | ||||||||||||||
Total income from operations | $ | 314 | $ | — | $ | 314 | $ | 87 | $ | — | $ | 87 |