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Quarterly report pursuant to Section 13 or 15(d)

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

v3.21.2
CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
6 Months Ended
Oct. 02, 2021
Equity [Abstract] Ìý
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 2021 March 2021 September 2020
Foreign currency translation and other $ (687,120) $ (700,173) $ (700,137)
Defined benefit pension plans (255,635) (257,747) (264,304)
Derivative financial instruments 1,921Ìý (51,080) 4,783Ìý
Accumulated other comprehensive income (loss) $ (940,834) $ (1,009,000) $ (959,658)
The changes in accumulated OCI, net of related taxes, were as follows:
Ìý Three Months Ended September 2021
(In thousands) Foreign Currency Translation and Other Defined Benefit PensionÌýPlans Derivative Financial Instruments Total
Balance, June 2021 $ (663,120) $ (257,431) $ (45,335) $ (965,886)
Other comprehensive income (loss) before reclassifications
(24,000) (327) 28,383Ìý 4,056Ìý
Amounts reclassified from accumulated other comprehensive income (loss)
—Ìý 2,123Ìý 18,873Ìý 20,996Ìý
Net other comprehensive income (loss)
(24,000) 1,796Ìý 47,256Ìý 25,052Ìý
Balance, September 2021 $ (687,120) $ (255,635) $ 1,921Ìý $ (940,834)
Ìý Three Months Ended September 2020
(In thousands) Foreign Currency Translation and Other Defined Benefit PensionÌýPlans Derivative Financial Instruments Total
Balance, June 2020 $ (685,236) $ (259,290) $ 46,985Ìý $ (897,541)
Other comprehensive income (loss) before reclassifications
(14,901) (7,629) (32,534) (55,064)
Amounts reclassified from accumulated other comprehensive income (loss)
—Ìý 2,615Ìý (9,668) (7,053)
Net other comprehensive income (loss)
(14,901) (5,014) (42,202) (62,117)
Balance, September 2020 $ (700,137) $ (264,304) $ 4,783Ìý $ (959,658)
Six Months Ended September 2021
(In thousands) Foreign Currency Translation and Other Defined Benefit PensionÌýPlans Derivative Financial Instruments Total
Balance, March 2021 $ (700,173) $ (257,747) $ (51,080) $ (1,009,000)
Other comprehensive income (loss) before reclassifications
13,053Ìý (2,738) 24,012Ìý 34,327Ìý
Amounts reclassified from accumulated other comprehensive income (loss)
—Ìý 4,850Ìý 28,989Ìý 33,839Ìý
Net other comprehensive income (loss)
13,053Ìý 2,112Ìý 53,001Ìý 68,166Ìý
Balance, September 2021 $ (687,120) $ (255,635) $ 1,921Ìý $ (940,834)
Six Months Ended September 2020
(In thousands) Foreign Currency Translation and Other Defined Benefit PensionÌýPlans Derivative Financial Instruments Total
Balance, March 2020 $ (737,709) $ (262,472) $ 69,223Ìý $ (930,958)
Other comprehensive income (loss) before reclassifications
(4,792) (6,642) (38,599) (50,033)
Amounts reclassified from accumulated other comprehensive income (loss)
42,364Ìý 4,810Ìý (25,841) 21,333Ìý
Net other comprehensive income (loss)
37,572Ìý (1,832) (64,440) (28,700)
Balance, September 2020 $ (700,137) $ (264,304) $ 4,783Ìý $ (959,658)
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 AffectedÌýLineÌýItemÌýinÌýthe Consolidated Statements of Operations
2021 2020 2021 2020
Losses on foreign currency translation and other:
Liquidation of foreign entities
Other income (expense), net $ —Ìý $ —Ìý $ —Ìý $ (42,364)
Total before tax
—Ìý —Ìý —Ìý (42,364)
Tax (expense) benefit
—Ìý —Ìý —Ìý —Ìý
Net of tax
—Ìý —Ìý —Ìý (42,364)
Amortization of defined benefit pension plans:
Net deferred actuarial losses
Other income (expense), net (2,871) (2,898) (5,711) (5,761)
Deferred prior service credits
Other income (expense), net 117Ìý 17Ìý 235Ìý 34Ìý
Pension settlement charges
Other income (expense), net (76) (572) (1,024) (572)
TotalÌýbeforeÌýtax
(2,830) (3,453) (6,500) (6,299)
TaxÌýbenefit
707Ìý 838Ìý 1,650Ìý 1,489Ìý
Net of tax
(2,123) (2,615) (4,850) (4,810)
Gains (losses) on derivative financial instruments:
Foreign exchange contracts
Net revenues (4,963) 2,135Ìý (6,761) 2,306Ìý
Foreign exchange contracts
CostÌýofÌýgoodsÌýsold (16,501) 8,443Ìý (22,670) 25,148Ìý
Foreign exchange contracts
Selling, general and administrative expenses (189) 741Ìý (1,106) 2,348Ìý
Foreign exchange contracts
OtherÌýincomeÌý(expense),Ìýnet (1,360) 33Ìý (3,062) 1,803Ìý
Interest rate contracts
Interest expense 27Ìý 27Ìý 54Ìý 54Ìý
Total before tax
(22,986) 11,379Ìý (33,545) 31,659Ìý
TaxÌý(expense) benefit
4,113Ìý (1,711) 4,556Ìý (5,818)
Net of tax
(18,873) 9,668Ìý (28,989) 25,841Ìý
Total reclassifications for the period, net of tax $ (20,996) $ 7,053Ìý $ (33,839) $ (21,333)