| 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 2021 |
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March 2021 |
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December 2020 |
| Foreign currency translation and other |
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$ |
(712,831) |
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$ |
(700,173) |
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$ |
(663,863) |
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| Defined benefit pension plans |
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(248,971) |
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(257,747) |
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(264,966) |
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| Derivative financial instruments |
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24,345Ìý |
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(51,080) |
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(67,134) |
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| Accumulated other comprehensive income (loss) |
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$ |
(937,457) |
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$ |
(1,009,000) |
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$ |
(995,963) |
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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 2021 |
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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 2021 |
$ |
(687,120) |
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$ |
(255,635) |
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$ |
1,921Ìý
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$ |
(940,834) |
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Other comprehensive income (loss) before reclassifications |
(25,711) |
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|
383Ìý |
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11,961Ìý |
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(13,367) |
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Amounts reclassified from accumulated other comprehensive income (loss) |
—Ìý |
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6,281Ìý |
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10,463Ìý |
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|
16,744Ìý |
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Net other comprehensive income (loss) |
(25,711) |
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|
6,664Ìý |
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22,424Ìý |
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3,377Ìý |
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| Balance, December 2021 |
$ |
(712,831) |
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$ |
(248,971) |
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$ |
24,345Ìý
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$ |
(937,457) |
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| Ìý |
Three Months Ended December 2020 |
| (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 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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Nine Months Ended December 2021 |
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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 2021 |
$ |
(700,173) |
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$ |
(257,747) |
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$ |
(51,080) |
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$ |
(1,009,000) |
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Other comprehensive income (loss) before reclassifications |
(12,658) |
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(2,355) |
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35,973Ìý |
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20,960Ìý |
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Amounts reclassified from accumulated other comprehensive income (loss) |
—Ìý |
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11,131Ìý |
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39,452Ìý |
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50,583Ìý |
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Net other comprehensive income (loss) |
(12,658) |
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8,776Ìý |
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75,425Ìý |
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71,543Ìý |
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| Balance, December 2021 |
$ |
(712,831) |
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$ |
(248,971) |
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$ |
24,345Ìý
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$ |
(937,457) |
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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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| 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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2021 |
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2020 |
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2021 |
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2020 |
| 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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$ |
—Ìý |
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$ |
(42,364) |
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Total before tax |
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—Ìý |
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—Ìý |
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—Ìý |
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(42,364) |
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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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—Ìý |
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(42,364) |
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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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(2,858) |
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(3,020) |
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(8,569) |
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(8,781) |
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Deferred prior service credits |
Other income (expense), net |
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|
117Ìý |
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19Ìý |
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352Ìý |
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53Ìý |
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Pension settlement charges |
Other income (expense), net |
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(5,660) |
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(544) |
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(6,684) |
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(1,116) |
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TotalÌýbeforeÌýtax |
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(8,401) |
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(3,545) |
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(14,901) |
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(9,844) |
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TaxÌýbenefit |
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2,120Ìý |
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666Ìý |
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3,770Ìý |
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2,155Ìý |
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Net of tax |
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(6,281) |
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(2,879) |
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(11,131) |
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(7,689) |
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| Gains (losses) on derivative financial instruments: |
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Foreign exchange contracts |
Net revenues |
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(9,284) |
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4,048Ìý |
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(16,045) |
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6,354Ìý |
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Foreign exchange contracts |
CostÌýofÌýgoodsÌýsold |
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(3,974) |
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224Ìý |
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(26,644) |
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25,372Ìý |
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Foreign exchange contracts |
Selling, general and administrative expenses |
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|
688Ìý |
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586Ìý |
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(418) |
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2,934Ìý |
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Foreign exchange contracts |
OtherÌýincomeÌý(expense),Ìýnet |
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104Ìý |
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(613) |
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(2,958) |
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1,190Ìý |
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Interest rate contracts |
Interest expense |
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27Ìý |
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26Ìý |
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81Ìý |
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|
80Ìý |
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Total before tax |
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(12,439) |
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4,271Ìý |
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(45,984) |
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35,930Ìý |
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TaxÌý(expense) benefit |
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1,976Ìý |
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(727) |
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6,532Ìý |
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(6,545) |
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Net of tax |
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(10,463) |
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3,544Ìý |
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(39,452) |
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29,385Ìý |
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| Total reclassifications for the period, net of tax |
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$ |
(16,744) |
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$ |
665Ìý |
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$ |
(50,583) |
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$ |
(20,668) |
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