Quarterly report pursuant to Section 13 or 15(d)

CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

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CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
 9 Months Ended
Dec. 26, 2020
Equity [Abstract]  
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) December 2020 March 2020 December 2019
Foreign currency translation and other $ (663,863) $ (737,709) $ (663,319)
Defined benefit pension plans (264,966) (262,472) (249,530)
Derivative financial instruments (67,134) 69,223  17,477 
Accumulated other comprehensive income (loss) $ (995,963) $ (930,958) $ (895,372)
The changes in accumulated OCI, net of related taxes, were as follows:
  Three Months Ended December 2020
(In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total
Balance, September 2020 $ (700,137) $ (264,304) $ 4,783  $ (959,658)
Other comprehensive income (loss) before reclassifications
 36,274  (3,541) (68,373) (35,640)
Amounts reclassified from accumulated other comprehensive income (loss)
 —  2,879  (3,544) (665)
Net other comprehensive income (loss)
 36,274  (662) (71,917) (36,305)
Balance, December 2020 $ (663,863) $ (264,966) $ (67,134) $ (995,963)
  Three Months Ended December 2019
(In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total
Balance, September 2019 $ (715,286) $ (298,326) $ 82,887  $ (930,725)
Other comprehensive income (loss) before reclassifications
 51,967  26,827  (46,536) 32,258 
Amounts reclassified from accumulated other comprehensive income (loss)
 —  21,969  (18,874) 3,095 
Net other comprehensive income (loss)
 51,967  48,796  (65,410) 35,353 
Balance, December 2019 $ (663,319) $ (249,530) $ 17,477  $ (895,372)
  Nine Months Ended December 2020
(In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total
Balance, March 2020 $ (737,709) $ (262,472) $ 69,223  $ (930,958)
Other comprehensive income (loss) before reclassifications
 31,482  (10,183) (106,972) (85,673)
Amounts reclassified from accumulated other comprehensive income (loss)
 42,364  7,689  (29,385) 20,668 
Net other comprehensive income (loss)
 73,846  (2,494) (136,357) (65,005)
Balance, December 2020 $ (663,863) $ (264,966) $ (67,134) $ (995,963)
  Nine Months Ended December 2019
(In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total
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
 (11,646) 15,108  8,712  12,174 
Amounts reclassified from accumulated other comprehensive income (loss)
 —  28,154  (47,057) (18,903)
Spin-off of Jeans Business
 83,094  794  (8,595) 75,293 
Net other comprehensive income (loss)
 62,360  (6,346) (49,311) 6,703 
Balance, December 2019 $ (663,319) $ (249,530) $ 17,477  $ (895,372)
Reclassifications Out of Accumulated OCI
Reclassifications out of accumulated OCI were as follows:
(In thousands) Three Months Ended December Nine Months Ended December
Details About Accumulated Other Comprehensive Income (Loss) Components Affected Line Item in the Consolidated Statements of Operations
2020 2019 2020 2019
Losses on foreign currency translation and other:
Liquidation of foreign entities
 Other income (expense), net $ —  $ —  $ (42,364) $ — 
Total before tax
 —  —  (42,364) — 
Tax (expense) benefit
 —  —  —  — 
Net of tax
 —  —  (42,364) — 
Amortization of defined benefit pension plans:
Net deferred actuarial losses
 Other income (expense), net (3,020) (4,203) (8,781) (12,236)
Deferred prior service (costs) credits
 Other income (expense), net 19  (13) 53  (38)
Pension settlement charges
 Other income (expense), net (544) (24,943) (1,116) (25,462)
Total before tax
 (3,545) (29,159) (9,844) (37,736)
Tax benefit
 666  7,190  2,155  9,582 
Net of tax
 (2,879) (21,969) (7,689) (28,154)
Gains (losses) on derivative financial instruments:
Foreign exchange contracts
 Net revenues 4,048  (5,507) 6,354  (11,226)
Foreign exchange contracts
 Cost of goods sold 224  27,157  25,372  60,989 
Foreign exchange contracts
 Selling, general and administrative expenses 586  1,231  2,934  3,329 
Foreign exchange contracts
 Other income (expense), net (613) 1,006  1,190  7,574 
Interest rate contracts
 Interest expense 26  (1,324) 80  (3,920)
Total before tax
 4,271  22,563  35,930  56,746 
Tax expense
 (727) (3,689) (6,545) (9,689)
Net of tax
 3,544  18,874  29,385  47,057 
Total reclassifications for the period, net of tax $ 665  $ (3,095) $ (20,668) $ 18,903