| 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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December 2020 |
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March 2020 |
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December 2019 |
| Foreign currency translation and other |
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$ |
(663,863) |
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$ |
(737,709) |
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$ |
(663,319) |
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| Defined benefit pension plans |
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(264,966) |
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(262,472) |
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(249,530) |
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| Derivative financial instruments |
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(67,134) |
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69,223Ìý |
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17,477Ìý |
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| Accumulated other comprehensive income (loss) |
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$ |
(995,963) |
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$ |
(930,958) |
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$ |
(895,372) |
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The changes in accumulated OCI, net of related taxes, were as follows:
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| Ìý |
Three Months Ended December 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, 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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Other comprehensive income (loss) before reclassifications |
36,274Ìý |
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(3,541) |
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(68,373) |
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(35,640) |
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Amounts reclassified from accumulated other comprehensive income (loss) |
—Ìý |
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2,879Ìý |
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(3,544) |
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(665) |
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Net other comprehensive income (loss) |
36,274Ìý |
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(662) |
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(71,917) |
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(36,305) |
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| Balance, December 2020 |
$ |
(663,863) |
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$ |
(264,966) |
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$ |
(67,134) |
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$ |
(995,963) |
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| Ìý |
Three Months Ended December 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, 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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Other comprehensive income (loss) before reclassifications |
51,967Ìý |
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26,827Ìý |
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(46,536) |
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32,258Ìý |
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Amounts reclassified from accumulated other comprehensive income (loss) |
—Ìý |
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21,969Ìý |
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(18,874) |
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3,095Ìý |
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Net other comprehensive income (loss) |
51,967Ìý |
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48,796Ìý |
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(65,410) |
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35,353Ìý |
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| Balance, December 2019 |
$ |
(663,319) |
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$ |
(249,530) |
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$ |
17,477Ìý
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$ |
(895,372) |
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| Ìý |
Nine Months Ended December 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 |
31,482Ìý |
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(10,183) |
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(106,972) |
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(85,673) |
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Amounts reclassified from accumulated other comprehensive income (loss) |
42,364Ìý |
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7,689Ìý |
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(29,385) |
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20,668Ìý |
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Net other comprehensive income (loss) |
73,846Ìý |
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(2,494) |
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(136,357) |
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(65,005) |
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| Balance, December 2020 |
$ |
(663,863) |
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$ |
(264,966) |
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$ |
(67,134) |
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$ |
(995,963) |
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| Ìý |
Nine Months Ended December 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 |
(11,646) |
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15,108Ìý |
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8,712Ìý |
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12,174Ìý |
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Amounts reclassified from accumulated other comprehensive income (loss) |
—Ìý |
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28,154Ìý |
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(47,057) |
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(18,903) |
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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) |
62,360Ìý |
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(6,346) |
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(49,311) |
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6,703Ìý |
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| Balance, December 2019 |
$ |
(663,319) |
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$ |
(249,530) |
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$ |
17,477Ìý
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$ |
(895,372) |
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| Reclassifications Out of Accumulated OCI |
Reclassifications out of accumulated OCI were as follows:
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| (In thousands) |
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Three Months Ended December |
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Nine Months Ended December |
| 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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(3,020) |
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(4,203) |
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(8,781) |
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(12,236) |
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Deferred prior service (costs) credits |
Other income (expense), net |
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19Ìý |
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(13) |
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53Ìý |
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(38) |
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Pension settlement charges |
Other income (expense), net |
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(544) |
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(24,943) |
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(1,116) |
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(25,462) |
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TotalÌýbeforeÌýtax |
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(3,545) |
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(29,159) |
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(9,844) |
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(37,736) |
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TaxÌýbenefit |
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|
666Ìý |
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7,190Ìý |
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2,155Ìý |
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9,582Ìý |
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Net of tax |
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(2,879) |
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(21,969) |
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(7,689) |
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(28,154) |
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| Gains (losses) on derivative financial instruments: |
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Foreign exchange contracts |
Net revenues |
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4,048Ìý |
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(5,507) |
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6,354Ìý |
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(11,226) |
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Foreign exchange contracts |
CostÌýofÌýgoodsÌýsold |
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224Ìý |
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27,157Ìý |
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25,372Ìý |
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60,989Ìý |
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Foreign exchange contracts |
Selling, general and administrative expenses |
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586Ìý |
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1,231Ìý |
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2,934Ìý |
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3,329Ìý |
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Foreign exchange contracts |
OtherÌýincomeÌý(expense),Ìýnet |
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(613) |
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1,006Ìý |
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1,190Ìý |
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7,574Ìý |
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Interest rate contracts |
Interest expense |
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26Ìý |
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(1,324) |
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80Ìý |
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(3,920) |
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Total before tax |
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4,271Ìý |
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22,563Ìý |
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35,930Ìý |
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56,746Ìý |
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TaxÌýexpense |
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(727) |
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(3,689) |
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(6,545) |
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(9,689) |
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Net of tax |
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3,544Ìý |
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18,874Ìý |
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29,385Ìý |
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47,057Ìý |
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| Total reclassifications for the period, net of tax |
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$ |
665Ìý |
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$ |
(3,095) |
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$ |
(20,668) |
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$ |
18,903Ìý |
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