Quarterly report pursuant to Section 13 or 15(d)

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

v3.22.2.2
CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
 6 Months Ended
Oct. 01, 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) September 2022 March 2022 September 2021
Foreign currency translation and other $ (883,846) $ (751,632) $ (687,120)
Defined benefit pension plans (166,545) (230,290) (255,635)
Derivative financial instruments 206,226  55,343  1,921 
Accumulated other comprehensive income (loss) $ (844,165) $ (926,579) $ (940,834)
The changes in accumulated OCI, net of related taxes, were as follows:
  Three Months Ended September 2022
(In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total
Balance, June 2022 $ (833,166) $ (174,139) $ 132,429  $ (874,876)
Other comprehensive income (loss) before reclassifications
 (50,680) 4,108  86,329  39,757 
Amounts reclassified from accumulated other comprehensive income (loss)
 —  3,486  (12,532) (9,046)
Net other comprehensive income (loss)
 (50,680) 7,594  73,797  30,711 
Balance, September 2022 $ (883,846) $ (166,545) $ 206,226  $ (844,165)
  Three Months Ended September 2021
(In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total
Balance, June 2021 $ (663,120) $ (257,431) $ (45,335) $ (965,886)
Other comprehensive income (loss) before reclassifications
 (24,000) (327) 28,383  4,056 
Amounts reclassified from accumulated other comprehensive income (loss)
 —  2,123  18,873  20,996 
Net other comprehensive income (loss)
 (24,000) 1,796  47,256  25,052 
Balance, September 2021 $ (687,120) $ (255,635) $ 1,921  $ (940,834)
Six Months Ended September 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
 (132,214) (10,376) 170,384  27,794 
Amounts reclassified from accumulated other comprehensive income (loss)
 —  74,121  (19,501) 54,620 
Net other comprehensive income (loss)
 (132,214) 63,745  150,883  82,414 
Balance, September 2022 $ (883,846) $ (166,545) $ 206,226  $ (844,165)
Six Months Ended September 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
 13,053  (2,738) 24,012  34,327 
Amounts reclassified from accumulated other comprehensive income (loss)
 —  4,850  28,989  33,839 
Net other comprehensive income (loss)
 13,053  2,112  53,001  68,166 
Balance, September 2021 $ (687,120) $ (255,635) $ 1,921  $ (940,834)
Schedule of Reclassifications Out of Accumulated OCI
Reclassifications out of accumulated OCI were as follows:
(In thousands) Three Months Ended September Six Months Ended September
Details About Accumulated Other Comprehensive Income (Loss) Components Affected Line Item in the Consolidated Statements of Operations
2022 2021 2022 2021
Amortization of defined benefit pension plans:
Net deferred actuarial losses
 Other income (expense), net $ (3,953) $ (2,871) $ (7,674) $ (5,711)
Deferred prior service credits
 Other income (expense), net 111  117  223  235 
Pension settlement charges
 Other income (expense), net (1,141) (76) (92,902) (1,024)
Total before tax
 (4,983) (2,830) (100,353) (6,500)
Tax benefit
 1,497  707  26,232  1,650 
Net of tax
 (3,486) (2,123) (74,121) (4,850)
Gains (losses) on derivative financial instruments:
Foreign exchange contracts
 Net revenues (10,734) (4,963) (15,484) (6,761)
Foreign exchange contracts
 Cost of goods sold 11,837  (16,501) 17,761  (22,670)
Foreign exchange contracts
 Selling, general and administrative expenses 1,955  (189) 3,564  (1,106)
Foreign exchange contracts
 Other income (expense), net 11,821  (1,360) 17,253  (3,062)
Interest rate contracts
 Interest expense 27  27  54  54 
Total before tax
 14,906  (22,986) 23,148  (33,545)
Tax (expense) benefit
 (2,374) 4,113  (3,647) 4,556 
Net of tax
 12,532  (18,873) 19,501  (28,989)
Total reclassifications for the period, net of tax $ 9,046  $ (20,996) $ (54,620) $ (33,839)