| Deferred Components of OCI Reported, Net of Related Income Taxes, in Accumulated OCI in Stockholders' Equity and Changes in Accumulated OCI |
The deferred components of OCI are reported, net of related income taxes, in accumulated OCI in stockholders’ equity, as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(In thousands) |
|
September 2018 |
|
|
March 2018 |
|
September 2017 |
Foreign currency translation and other |
|
$ |
(665,962 |
) |
|
|
$ |
(476,869 |
) |
|
$ |
(567,964 |
) |
Defined benefit pension plans |
|
(226,039 |
) |
|
|
(289,618 |
) |
|
(268,159 |
) |
Derivative financial instruments |
|
29,085 |
|
|
|
(97,543 |
) |
|
(78,773 |
) |
Accumulated other comprehensive income (loss) |
|
$ |
(862,916 |
) |
|
|
$ |
(864,030 |
) |
|
$ |
(914,896 |
) |
The changes in accumulated OCI, net of related taxes, are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 2018 |
(In thousands) |
Foreign Currency Translation and Other |
|
Defined Benefit Pension Plans |
|
Derivative Financial Instruments |
|
Total |
Balance, June 2018 |
$ |
(651,739 |
) |
|
$ |
(230,517 |
) |
|
$ |
178 |
|
|
$ |
(882,078 |
) |
Other comprehensive income (loss) before reclassifications |
(14,223 |
) |
|
(1,416 |
) |
|
15,151 |
|
|
(488 |
) |
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
5,894 |
|
|
13,756 |
|
|
19,650 |
|
Net other comprehensive income (loss) |
(14,223 |
) |
|
4,478 |
|
|
28,907 |
|
|
19,162 |
|
Balance, September 2018 |
$ |
(665,962 |
) |
|
$ |
(226,039 |
) |
|
$ |
29,085 |
|
|
$ |
(862,916 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 2017 |
(In thousands) |
Foreign Currency Translation and Other |
|
Defined Benefit Pension Plans |
|
Derivative Financial Instruments |
|
Total |
Balance, June 2017 |
$ |
(633,209 |
) |
|
$ |
(275,089 |
) |
|
$ |
(22,299 |
) |
|
$ |
(930,597 |
) |
Other comprehensive income (loss) before reclassifications |
65,245 |
|
|
— |
|
|
(51,826 |
) |
|
13,419 |
|
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
6,930 |
|
|
(4,648 |
) |
|
2,282 |
|
Net other comprehensive income (loss) |
65,245 |
|
|
6,930 |
|
|
(56,474 |
) |
|
15,701 |
|
Balance, September 2017 |
$ |
(567,964 |
) |
|
$ |
(268,159 |
) |
|
$ |
(78,773 |
) |
|
$ |
(914,896 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended September 2018 |
(In thousands) |
Foreign Currency Translation and Other |
|
Defined Benefit Pension Plans |
|
Derivative Financial Instruments |
|
Total |
Balance, March 2018 |
$ |
(476,869 |
) |
|
$ |
(289,618 |
) |
|
$ |
(97,543 |
) |
|
$ |
(864,030 |
) |
Other comprehensive income (loss) before reclassifications |
(189,093 |
) |
|
38,812 |
|
|
98,422 |
|
|
(51,859 |
) |
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
24,767 |
|
|
28,206 |
|
|
52,973 |
|
Net other comprehensive income (loss) |
(189,093 |
) |
|
63,579 |
|
|
126,628 |
|
|
1,114 |
|
Balance, September 2018 |
$ |
(665,962 |
) |
|
$ |
(226,039 |
) |
|
$ |
29,085 |
|
|
$ |
(862,916 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended September 2017 |
(In thousands) |
Foreign Currency Translation and Other |
|
Defined Benefit Pension Plans |
|
Derivative Financial Instruments |
|
Total |
Balance, March 2017 |
$ |
(742,281 |
) |
|
$ |
(281,721 |
) |
|
$ |
35,962 |
|
|
$ |
(988,040 |
) |
Other comprehensive income (loss) before reclassifications |
174,317 |
|
|
— |
|
|
(100,302 |
) |
|
74,015 |
|
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
13,562 |
|
|
(14,433 |
) |
|
(871 |
) |
Net other comprehensive income (loss) |
174,317 |
|
|
13,562 |
|
|
(114,735 |
) |
|
73,144 |
|
Balance, September 2017 |
$ |
(567,964 |
) |
|
$ |
(268,159 |
) |
|
$ |
(78,773 |
) |
|
$ |
(914,896 |
) |
|
| Reclassifications Out of Accumulated OCI |
Reclassifications out of accumulated OCI are as follows:
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| |
(In thousands)
Details About Accumulated Other Comprehensive Income (Loss) Components
|
Affected Line Item in the Consolidated Statements of Income |
|
|
Three Months Ended September |
|
|
Six Months Ended September |
| |
| |
|
|
|
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|
|
| |
|
|
2018 |
|
|
2017 |
|
|
2018 |
|
|
2017 |
| |
Amortization of defined benefit pension plans: |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Net deferred actuarial losses |
Other income (expense), net |
|
|
$ |
(6,655 |
) |
|
|
$ |
(10,030 |
) |
|
|
$ |
(15,477 |
) |
|
|
$ |
(20,032 |
) |
| |
Deferred prior service (costs) credits |
Other income (expense), net |
|
|
59 |
|
|
|
(643 |
) |
|
|
(610 |
) |
|
|
(1,288 |
) |
| |
Pension curtailment losses and settlement charges |
Other income (expense), net |
|
|
(1,342 |
) |
|
|
— |
|
|
|
(17,667 |
) |
|
|
— |
|
| |
Total before tax |
|
|
|
(7,938 |
) |
|
|
(10,673 |
) |
|
|
(33,754 |
) |
|
|
(21,320 |
) |
| |
Tax benefit |
|
|
|
2,044 |
|
|
|
3,743 |
|
|
|
8,987 |
|
|
|
7,758 |
|
| |
Net of tax |
|
|
|
(5,894 |
) |
|
|
(6,930 |
) |
|
|
(24,767 |
) |
|
|
(13,562 |
) |
| |
Gains (losses) on derivative financial instruments: |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Foreign exchange contracts |
Net sales |
|
|
4,527 |
|
|
|
11,614 |
|
|
|
5,472 |
|
|
|
18,661 |
|
| |
Foreign exchange contracts |
Cost of goods sold |
|
|
(14,638 |
) |
|
|
(4,164 |
) |
|
|
(26,576 |
) |
|
|
1,489 |
|
| |
Foreign exchange contracts |
Selling, general and administrative expenses |
|
|
(1,522 |
) |
|
|
(882 |
) |
|
|
(4,220 |
) |
|
|
(1,125 |
) |
| |
Foreign exchange contracts |
Other income (expense), net |
|
|
(970 |
) |
|
|
(774 |
) |
|
|
(2,363 |
) |
|
|
(737 |
) |
| |
Interest rate contracts |
Interest expense |
|
|
(1,243 |
) |
|
|
(1,185 |
) |
|
|
(2,476 |
) |
|
|
(2,360 |
) |
| |
Total before tax |
|
|
|
(13,846 |
) |
|
|
4,609 |
|
|
|
(30,163 |
) |
|
|
15,928 |
|
| |
Tax benefit (expense) |
|
|
|
90 |
|
|
|
39 |
|
|
|
1,957 |
|
|
|
(1,495 |
) |
| |
Net of tax |
|
|
|
(13,756 |
) |
|
|
4,648 |
|
|
|
(28,206 |
) |
|
|
14,433 |
|
| |
Total reclassifications for the period, net of tax |
|
|
$ |
(19,650 |
) |
|
|
$ |
(2,282 |
) |
|
|
$ |
(52,973 |
) |
|
|
$ |
871 |
|
|