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)
3 Months Ended
Jul. 02, 2022
Equity [Abstract]  
Schedule of 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) June 2022 March 2022 June 2021
Foreign currency translation and other $ (833,166) $ (751,632) $ (663,120)
Defined benefit pension plans (174,139) (230,290) (257,431)
Derivative financial instruments 132,429  55,343  (45,335)
Accumulated other comprehensive income (loss) $ (874,876) $ (926,579) $ (965,886)
The changes in accumulated OCI, net of related taxes, were as follows:
  Three Months Ended June 2022
(In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total
Balance, March 2022 $ (751,632) $ (230,290) $ 55,343  $ (926,579)
Other comprehensive income (loss) before reclassifications
(81,534) (14,484) 84,055  (11,963)
Amounts reclassified from accumulated other comprehensive income (loss)
—  70,635  (6,969) 63,666 
Net other comprehensive income (loss)
(81,534) 56,151  77,086  51,703 
Balance, June 2022 $ (833,166) $ (174,139) $ 132,429  $ (874,876)
  Three Months Ended June 2021
(In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total
Balance, March 2021 $ (700,173) $ (257,747) $ (51,080) $ (1,009,000)
Other comprehensive income (loss) before reclassifications
37,053  (2,411) (4,371) 30,271 
Amounts reclassified from accumulated other comprehensive income (loss)
—  2,727  10,116  12,843 
Net other comprehensive income (loss)
37,053  316  5,745  43,114 
Balance, June 2021 $ (663,120) $ (257,431) $ (45,335) $ (965,886)
Schedule of Reclassifications Out of Accumulated OCI
Reclassifications out of accumulated OCI were as follows:
(In thousands) Three Months Ended June
Details About Accumulated Other Comprehensive Income (Loss) Components Affected Line Item in the Consolidated Statements of Operations
2022 2021
Amortization of defined benefit pension plans:
Net deferred actuarial losses
Other income (expense), net $ (3,721) $ (2,840)
Deferred prior service credits
Other income (expense), net 112  118 
Pension settlement charges
Other income (expense), net (91,761) (948)
Total before tax
(95,370) (3,670)
Tax benefit
24,735  943 
Net of tax
(70,635) (2,727)
Gains (losses) on derivative financial instruments:
Foreign exchange contracts
Net revenues (4,750) (1,798)
Foreign exchange contracts
Cost of goods sold 5,924  (6,169)
Foreign exchange contracts
Selling, general and administrative expenses 1,609  (917)
Foreign exchange contracts
Other income (expense), net 5,432  (1,702)
Interest rate contracts
Interest expense 27  27 
Total before tax
8,242  (10,559)
Tax (expense) benefit
(1,273) 443 
Net of tax
6,969  (10,116)
Total reclassifications for the period, net of tax $ (63,666) $ (12,843)