| Deferred Components of OCI Reported, Net of Related Income Taxes, in Accumulated OCI in Stockholders' Equity and Changes in AOCI |
The changes in accumulated OCI, net of related taxes, are as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
|
(In thousands) |
Foreign Currency Translation and Other |
|
Defined
Benefit
Pension Plans |
|
Derivative
Financial
Instruments |
|
Total |
|
Balance, December 2016 |
$ |
(794,579 |
) |
|
$ |
(302,697 |
) |
|
$ |
55,813 |
|
|
$ |
(1,041,463 |
) |
|
Other comprehensive income (loss) before reclassifications |
248,378 |
|
|
(17,970 |
) |
|
(123,080 |
) |
|
107,328 |
|
|
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
28,718 |
|
|
(20,723 |
) |
|
7,995 |
|
|
Net other comprehensive income (loss) |
248,378 |
|
|
10,748 |
|
|
(143,803 |
) |
|
115,323 |
|
|
Balance, December 2017 |
(546,201 |
) |
|
(291,949 |
) |
|
(87,990 |
) |
|
(926,140 |
) |
|
Other comprehensive income (loss) before reclassifications |
69,332 |
|
|
(4,852 |
) |
|
(21,078 |
) |
|
43,402 |
|
|
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
7,183 |
|
|
11,525 |
|
|
18,708 |
|
|
Net other comprehensive income (loss) |
69,332 |
|
|
2,331 |
|
|
(9,553 |
) |
|
62,110 |
|
|
Balance, March 2018 |
(476,869 |
) |
|
(289,618 |
) |
|
(97,543 |
) |
|
(864,030 |
) |
|
Other comprehensive income (loss) before reclassifications |
(248,810 |
) |
|
10,444 |
|
|
137,218 |
|
|
(101,148 |
) |
|
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
35,990 |
|
|
27,113 |
|
|
63,103 |
|
|
Net other comprehensive income (loss) |
(248,810 |
) |
|
46,434 |
|
|
164,331 |
|
|
(38,045 |
) |
|
Balance, March 2019 |
(725,679 |
) |
|
(243,184 |
) |
|
66,788 |
|
|
(902,075 |
) |
|
Adoption of new accounting standard, ASU 2018-02 |
(9,088 |
) |
|
(50,402 |
) |
|
(2,371 |
) |
|
(61,861 |
) |
|
Other comprehensive income (loss) before reclassifications |
(134,297 |
) |
|
(2,757 |
) |
|
76,797 |
|
|
(60,257 |
) |
|
Amounts reclassified from accumulated other comprehensive income (loss) |
48,261 |
|
|
33,077 |
|
|
(63,396 |
) |
|
17,942 |
|
|
Spin-off of Jeans Business |
83,094 |
|
|
794 |
|
|
(8,595 |
) |
|
75,293 |
|
|
Net other comprehensive income (loss) |
(12,030 |
) |
|
(19,288 |
) |
|
2,435 |
|
|
(28,883 |
) |
|
Balance, March 2020 |
$ |
(737,709 |
) |
|
$ |
(262,472 |
) |
|
$ |
69,223 |
|
|
$ |
(930,958 |
) |
|
The deferred components of OCI are reported, net of related income taxes, in accumulated OCI in stockholders’ equity, as follows:
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|
|
|
|
|
|
|
|
|
(In thousands) |
|
March 2020 |
|
|
March 2019 |
Foreign currency translation and other |
|
$ |
(737,709 |
) |
|
|
$ |
(725,679 |
) |
Defined benefit pension plans |
|
(262,472 |
) |
|
|
(243,184 |
) |
Derivative financial instruments |
|
69,223 |
|
|
|
66,788 |
|
Accumulated other comprehensive income (loss) |
|
$ |
(930,958 |
) |
|
|
$ |
(902,075 |
) |
|
| Reclassifications Out of Accumulated OCI |
Reclassifications out of accumulated OCI are as follows:
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| |
(In thousands) |
Affected Line Item in the Consolidated Statements of Income |
|
|
Year Ended March |
|
Three Months
Ended March
(Transition Period)
|
|
Year Ended December |
| |
Details About Accumulated Other
Comprehensive Income (Loss) Components |
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| |
|
|
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|
|
|
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| |
|
|
2020 |
|
|
2019 |
|
2018 |
|
2017 |
| |
Losses on foreign currency translation and other: |
|
|
|
|
|
|
|
|
|
|
| |
Liquidation of foreign entities |
Other income (expense), net |
|
|
$ |
(48,261 |
) |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
| |
Total before tax |
|
|
|
(48,261 |
) |
|
|
— |
|
|
— |
|
|
— |
|
| |
Tax (expense) benefit |
|
|
|
— |
|
|
|
— |
|
|
— |
|
|
— |
|
| |
Net of tax |
|
|
|
(48,261 |
) |
|
|
— |
|
|
— |
|
|
— |
|
| |
Amortization of defined benefit pension plans: |
|
|
|
|
|
|
|
|
|
|
| |
Net deferred actuarial losses |
Other income (expense), net |
|
|
(14,848 |
) |
|
|
(28,474 |
) |
|
(8,548 |
) |
|
(41,440 |
) |
| |
Deferred prior service costs |
Other income (expense), net |
|
|
(1,887 |
) |
|
|
(494 |
) |
|
(647 |
) |
|
(2,646 |
) |
| |
Pension settlement charges |
Other income (expense), net |
|
|
(27,443 |
) |
|
|
(8,856 |
) |
|
— |
|
|
— |
|
| |
Pension curtailment losses |
Other income (expense), net |
|
|
— |
|
|
|
(9,530 |
) |
|
— |
|
|
(566 |
) |
| |
Pension curtailment loss |
Income from discontinued operations, net of tax |
|
|
— |
|
|
|
— |
|
|
— |
|
|
(1,105 |
) |
| |
| |
Total before tax |
|
|
|
(44,178 |
) |
|
|
(47,354 |
) |
|
(9,195 |
) |
|
(45,757 |
) |
| |
Tax benefit |
|
|
|
11,101 |
|
|
|
11,364 |
|
|
2,012 |
|
|
17,039 |
|
| |
Net of tax |
|
|
|
(33,077 |
) |
|
|
(35,990 |
) |
|
(7,183 |
) |
|
(28,718 |
) |
| |
Gains (losses) on derivative financial instruments: |
|
|
|
|
|
|
|
|
|
|
| |
Foreign exchange contracts |
Net revenues |
|
|
(18,076 |
) |
|
|
1,774 |
|
|
4,948 |
|
|
33,641 |
|
| |
Foreign exchange contracts |
Cost of goods sold |
|
|
94,376 |
|
|
|
(20,686 |
) |
|
(13,286 |
) |
|
610 |
|
| |
Foreign exchange contracts |
Selling, general and administrative expenses |
|
|
5,084 |
|
|
|
(4,772 |
) |
|
(1,981 |
) |
|
(3,610 |
) |
| |
| |
Foreign exchange contracts |
Other income (expense), net |
|
|
10,304 |
|
|
|
355 |
|
|
(2,427 |
) |
|
(1,851 |
) |
| |
Interest rate contracts |
Interest expense |
|
|
(13,177 |
) |
|
|
(5,012 |
) |
|
(1,214 |
) |
|
(4,723 |
) |
| |
Total before tax |
|
|
|
78,511 |
|
|
|
(28,341 |
) |
|
(13,960 |
) |
|
24,067 |
|
| |
Tax (expense) benefit |
|
|
|
(15,115 |
) |
|
|
1,228 |
|
|
2,435 |
|
|
(3,344 |
) |
| |
Net of tax |
|
|
|
63,396 |
|
|
|
(27,113 |
) |
|
(11,525 |
) |
|
20,723 |
|
| |
Total reclassifications for the period, net of tax |
|
|
$ |
(17,942 |
) |
|
|
$ |
(63,103 |
) |
|
$ |
(18,708 |
) |
|
$ |
(7,995 |
) |
|