| 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:
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| (In thousands) |
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September 2020 |
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March 2020 |
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September 2019 |
| Foreign currency translation and other |
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$ |
(700,137) |
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$ |
(737,709) |
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$ |
(715,286) |
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| Defined benefit pension plans |
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(264,304) |
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(262,472) |
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(298,326) |
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| Derivative financial instruments |
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4,783Ìý |
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69,223Ìý |
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82,887Ìý |
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| Accumulated other comprehensive income (loss) |
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$ |
(959,658) |
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$ |
(930,958) |
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$ |
(930,725) |
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The changes in accumulated OCI, net of related taxes, were as follows:
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| Ìý |
Three Months Ended September 2020 |
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| (In thousands) |
Foreign Currency Translation and Other |
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Defined Benefit PensionÌýPlans |
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Derivative Financial Instruments |
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Total |
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| Balance, June 2020 |
$ |
(685,236) |
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$ |
(259,290) |
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$ |
46,985Ìý
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$ |
(897,541) |
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Other comprehensive income (loss) before reclassifications |
(14,901) |
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(7,629) |
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(32,534) |
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(55,064) |
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Amounts reclassified from accumulated other comprehensive income (loss) |
—Ìý |
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2,615Ìý |
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(9,668) |
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(7,053) |
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Net other comprehensive income (loss) |
(14,901) |
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(5,014) |
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(42,202) |
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(62,117) |
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| Balance, September 2020 |
$ |
(700,137) |
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$ |
(264,304) |
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$ |
4,783Ìý
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$ |
(959,658) |
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| Ìý |
Three Months Ended September 2019 |
| (In thousands) |
Foreign Currency Translation and Other |
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Defined Benefit PensionÌýPlans |
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Derivative Financial Instruments |
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Total |
| Balance, June 2019 |
$ |
(635,901) |
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$ |
(290,468) |
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$ |
58,983Ìý
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$ |
(867,386) |
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Other comprehensive income (loss) before reclassifications |
(79,385) |
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(10,896) |
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44,348Ìý |
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(45,933) |
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Amounts reclassified from accumulated other comprehensive income (loss) |
—Ìý |
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3,038Ìý |
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(20,444) |
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(17,406) |
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Net other comprehensive income (loss) |
(79,385) |
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(7,858) |
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23,904Ìý |
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(63,339) |
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| Balance, September 2019 |
$ |
(715,286) |
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$ |
(298,326) |
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$ |
82,887Ìý
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$ |
(930,725) |
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| Ìý |
Six Months Ended September 2020 |
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| (In thousands) |
Foreign Currency Translation and Other |
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Defined Benefit PensionÌýPlans |
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Derivative Financial Instruments |
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Total |
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| Balance, March 2020 |
$ |
(737,709) |
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$ |
(262,472) |
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$ |
69,223Ìý
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$ |
(930,958) |
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Other comprehensive income (loss) before reclassifications |
(4,792) |
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(6,642) |
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(38,599) |
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(50,033) |
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Amounts reclassified from accumulated other comprehensive income (loss) |
42,364Ìý |
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4,810Ìý |
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(25,841) |
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21,333Ìý |
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Net other comprehensive income (loss) |
37,572Ìý |
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(1,832) |
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(64,440) |
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(28,700) |
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| Balance, September 2020 |
$ |
(700,137) |
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$ |
(264,304) |
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$ |
4,783Ìý
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$ |
(959,658) |
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| Ìý |
Six Months Ended September 2019 |
| (In thousands) |
Foreign Currency Translation and Other |
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Defined Benefit PensionÌýPlans |
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Derivative Financial Instruments |
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Total |
| Balance, March 2019 |
$ |
(725,679) |
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$ |
(243,184) |
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$ |
66,788Ìý
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$ |
(902,075) |
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Adoption of new accounting standard, ASU 2018-02 |
(9,088) |
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(50,402) |
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(2,371) |
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(61,861) |
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Other comprehensive income (loss) before reclassifications |
(63,613) |
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(11,719) |
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55,248Ìý |
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(20,084) |
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Amounts reclassified from accumulated other comprehensive income (loss) |
—Ìý |
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6,185Ìý |
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(28,183) |
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(21,998) |
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Spin-off of Jeans Business |
83,094Ìý |
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794Ìý |
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(8,595) |
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75,293Ìý |
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Net other comprehensive income (loss) |
10,393Ìý |
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(55,142) |
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16,099Ìý |
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(28,650) |
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| Balance, September 2019 |
$ |
(715,286) |
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$ |
(298,326) |
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$ |
82,887Ìý
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$ |
(930,725) |
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Reclassifications out of accumulated OCI were as follows:
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| Reclassifications Out of Accumulated OCI |
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| (In thousands) |
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Three Months Ended September |
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Six Months Ended September |
| Details About Accumulated Other Comprehensive Income (Loss) Components |
AffectedÌýLineÌýItemÌýinÌýthe Consolidated Statements of Operations |
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2020 |
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2019 |
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2020 |
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2019 |
| Losses on foreign currency translation and other: |
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Liquidation of foreign entities |
Other income (expense), net |
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$ |
—Ìý |
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$ |
—Ìý |
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$ |
(42,364) |
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$ |
—Ìý |
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Total before tax |
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—Ìý |
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—Ìý |
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(42,364) |
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—Ìý |
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Tax (expense) benefit |
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—Ìý |
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—Ìý |
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—Ìý |
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—Ìý |
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Net of tax |
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—Ìý |
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—Ìý |
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(42,364) |
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—Ìý |
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| Amortization of defined benefit pension plans: |
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Net deferred actuarial losses |
Other income (expense), net |
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(2,898) |
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(4,014) |
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(5,761) |
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(8,033) |
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Deferred prior service (costs) credits |
Other income (expense), net |
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17Ìý |
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(12) |
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34Ìý |
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(25) |
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Pension settlement charges |
Other income (expense), net |
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(572) |
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(519) |
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(572) |
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(519) |
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TotalÌýbeforeÌýtax |
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(3,453) |
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(4,545) |
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(6,299) |
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(8,577) |
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TaxÌýbenefit |
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|
838Ìý |
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1,507Ìý |
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1,489Ìý |
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2,392Ìý |
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Net of tax |
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(2,615) |
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(3,038) |
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(4,810) |
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(6,185) |
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| Gains (losses) on derivative financial instruments: |
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Foreign exchange contracts |
Net revenues |
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2,135Ìý |
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(2,814) |
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2,306Ìý |
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(5,719) |
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Foreign exchange contracts |
CostÌýofÌýgoodsÌýsold |
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8,443Ìý |
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22,727Ìý |
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25,148Ìý |
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33,832Ìý |
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Foreign exchange contracts |
Selling, general and administrative expenses |
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741Ìý |
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1,382Ìý |
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2,348Ìý |
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2,098Ìý |
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Foreign exchange contracts |
OtherÌýincomeÌý(expense),Ìýnet |
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33Ìý |
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3,696Ìý |
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1,803Ìý |
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6,568Ìý |
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Interest rate contracts |
Interest expense |
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27Ìý |
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(1,303) |
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54Ìý |
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(2,596) |
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Total before tax |
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11,379Ìý |
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23,688Ìý |
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31,659Ìý |
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34,183Ìý |
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TaxÌýexpense |
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(1,711) |
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(3,244) |
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(5,818) |
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(6,000) |
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Net of tax |
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9,668Ìý |
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20,444Ìý |
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25,841Ìý |
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28,183Ìý |
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| Total reclassifications for the period, net of tax |
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$ |
7,053Ìý |
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$ |
17,406Ìý |
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$ |
(21,333) |
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$ |
21,998Ìý |
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