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Annual report pursuant to Section 13 and 15(d)

OTHER LIABILITIES

v3.23.1
OTHER LIABILITIES
 12 Months Ended
Apr. 01, 2023
Other Liabilities Disclosure [Abstract] Ìý
OTHER LIABILITIES OTHER LIABILITIES
(In thousands) March 2023 March 2022
Income taxes $ 273,955Ìý $ 394,472Ìý
Deferred income taxes (Note 19) 107,546Ìý 150,401Ìý
Deferred compensation (Note 16) 77,428Ìý 114,380Ìý
Pension liabilities (Note 16) 72,825Ìý 111,173Ìý
Product warranty claims 41,111Ìý 41,745Ìý
Derivative financial instruments (Note 24) 12,658Ìý 3,456Ìý
Other 65,531Ìý 72,809Ìý
Other liabilities $ 651,054Ìý $ 888,436Ìý
Ìý
±«ÓãÖ±²¥ accrues warranty costs, as cost of goods sold, at the time revenue is recognized. Product warranty costs are estimated based on historical experience and specific identification of the product requirements, which may fluctuate based on product mix. Activity relating to accrued product warranty claims is summarized as follows:
Year Ended March
(In thousands) 2023 2022 2021
Balance, beginning of year $ 53,487Ìý $ 62,087Ìý $ 60,124Ìý
Accrual for products sold during the year 11,086Ìý 8,815Ìý 13,844Ìý
Repair or replacement costs incurred and other (12,024) (17,025) (12,386)
Currency translation (130) (390) 505Ìý
Balance, end of year 52,419Ìý 53,487Ìý 62,087Ìý
Less current portion (Note 13) 11,308Ìý 11,742Ìý 13,396Ìý
Long-term portion $ 41,111Ìý $ 41,745Ìý $ 48,691Ìý