RETIREMENT AND SAVINGS BENEFIT PLANS - Schedule of Reconciliation of Changes in Fair Value of Defined Benefit Plan Assets and Projected Benefit Obligations (Details) - USD ($) $ in Thousands |
12 Months Ended | |||
---|---|---|---|---|
Jun. 30, 2022 |
Apr. 01, 2023 |
Apr. 02, 2022 |
Apr. 03, 2021 |
|
Projected benefit obligations | Ìý | Ìý | Ìý | Ìý |
Settlement | $ (330,000) | Ìý | Ìý | Ìý |
Amounts included in Consolidated Balance Sheets: | Ìý | Ìý | Ìý | Ìý |
Other assets (Note 11) | Ìý | $ 183,929 | $ 213,820 | Ìý |
Accrued liabilities (Note 13) | Ìý | (20,727) | (16,927) | Ìý |
Other liabilities (Note 15) | Ìý | (72,825) | (111,173) | Ìý |
Pension Plan | Ìý | Ìý | Ìý | Ìý |
Fair value of plan assets | Ìý | Ìý | Ìý | Ìý |
Fair value of plan assets, beginning of period | Ìý | 1,643,435 | 1,755,414 | Ìý |
Actual return on plan assets | Ìý | (146,068) | (26,855) | Ìý |
±«ÓãÖ±²¥ contributions | Ìý | 22,683 | 34,035 | Ìý |
Participant contributions | Ìý | 5,035 | 5,026 | Ìý |
Settlement | Ìý | (328,412) | 0 | Ìý |
Benefits paid | Ìý | (79,865) | (118,389) | Ìý |
Currency translation | Ìý | (5,098) | (5,796) | Ìý |
Fair value of plan assets, end of period | Ìý | 1,111,710 | 1,643,435 | $ 1,755,414 |
Projected benefit obligations | Ìý | Ìý | Ìý | Ìý |
Projected benefit obligations, beginning of period | Ìý | 1,557,715 | 1,741,710 | Ìý |
Service cost | Ìý | 10,632 | 14,288 | 15,747 |
Interest cost | Ìý | 44,732 | 37,534 | 47,316 |
Participant contributions | Ìý | 5,035 | 5,026 | Ìý |
Actuarial gain | Ìý | (183,536) | (117,214) | Ìý |
Settlement | Ìý | (328,412) | 0 | Ìý |
Benefits paid | Ìý | (79,865) | (118,389) | Ìý |
Plan amendments | Ìý | (478) | 0 | Ìý |
Currency translation | Ìý | (4,490) | (5,240) | Ìý |
Projected benefit obligations, end of period | Ìý | 1,021,333 | 1,557,715 | $ 1,741,710 |
Funded status, end of period | Ìý | 90,377 | 85,720 | Ìý |
Amounts included in Consolidated Balance Sheets: | Ìý | Ìý | Ìý | Ìý |
Other assets (Note 11) | Ìý | 183,929 | 213,820 | Ìý |
Accrued liabilities (Note 13) | Ìý | (20,727) | (16,927) | Ìý |
Other liabilities (Note 15) | Ìý | (72,825) | (111,173) | Ìý |
Funded status | Ìý | 90,377 | 85,720 | Ìý |
Accumulated other comprehensive loss, pretax: | Ìý | Ìý | Ìý | Ìý |
Net deferred actuarial losses | Ìý | 241,864 | 326,929 | Ìý |
Net deferred prior service credits | Ìý | (4,286) | (4,204) | Ìý |
Total accumulated other comprehensive loss, pretax | Ìý | 237,578 | 322,725 | Ìý |
Accumulated benefit obligations | Ìý | $ 1,005,159 | $ 1,539,593 | Ìý |
Weighted average actuarial assumptions used to determine pension obligations: | Ìý | Ìý | Ìý | Ìý |
Discount rate | Ìý | 4.89% | 3.65% | Ìý |
Rate of compensation increase | Ìý | 2.15% | 1.95% | Ìý |
X | ||||||||||
- Definition Amount of actuarial present value of benefits attributed to employee service rendered, excluding assumptions about future compensation level. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount, before tax, of accumulated other comprehensive (income) loss for defined benefit plan, that has not been recognized in net periodic benefit cost (credit). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount, before tax, of accumulated other comprehensive income (loss) for gain (loss) of defined benefit plan, that has not been recognized in net periodic benefit (cost) credit. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount, before tax, of accumulated other comprehensive (income) loss for cost (credit) of benefit change attributable to participants' prior service from plan amendment or plan initiation of defined benefit plan, that has not been recognized in net periodic benefit cost (credit). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of increase (decrease) in plan assets of defined benefit plan from actual return (loss) determined by change in fair value of plan assets adjusted for contributions, benefit payments, and other expenses. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of gain (loss) from change in actuarial assumptions which (increases) decreases benefit obligation of defined benefit plan. Assumptions include, but are not limited to, interest, mortality, employee turnover, salary, and temporary deviation from substantive plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of asset (liability), recognized in statement of financial position, for defined benefit pension and other postretirement plans. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of asset, recognized in statement of financial position, for overfunded defined benefit pension and other postretirement plans. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Weighted average rate for present value of future retirement benefits cash flows, used to determine benefit obligation of defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Weighted average rate increase of compensation, used to determine benefit obligation of defined benefit plan. Plan includes, but is not limited to, pay-related defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of actuarial present value of benefits attributed to service rendered by employee for defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of payment to participant of defined benefit plan which decreases benefit obligation. For pension plan, payment includes, but is not limited to, pension benefits and death benefits. For other postretirement plan, payment includes, but is not limited to, prescription drug benefits, health care benefits, life insurance benefits, and legal, educational and advisory services. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of contributions received by defined benefit plan from participant which increase benefit obligation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of payment, which decreases benefit obligation of defined benefit plan, for irrevocable action relieving primary responsibility for benefit obligation and eliminating risk for obligation and assets used to effect settlement. Transaction constituting settlement includes, but is not limited to, making lump-sum cash payment to participant in exchange for their rights to receive specified benefits and purchasing nonparticipating annuity contract. Excludes decreases to benefit obligation for remeasurement due to settlement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
|
X | ||||||||||
- Definition Amount of contribution received by defined benefit plan from employer which increases plan assets. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
X | ||||||||||
- Definition Amount of asset segregated and restricted to provide benefit under defined benefit plan. Asset includes, but is not limited to, stock, bond, other investment, earning from investment, and contribution by employer and employee. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of foreign currency translation gain (loss) which (increases) decreases benefit obligation of defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of funded (unfunded) status of defined benefit plan, measured as difference between fair value of plan assets and benefit obligation. Includes, but is not limited to, overfunded (underfunded) status. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of cost recognized for passage of time related to defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of increase (decrease) in benefit obligation of defined benefit plan from change in terms of existing plan or initiation of new plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of payment to participant under defined benefit plan which decreases plan assets. For pension plan, payment includes, but is not limited to, pension benefits and death benefits. For other postretirement plan, payment includes, but is not limited to, prescription drug benefits, health care benefits, life insurance benefits, and legal, educational and advisory services. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of contributions received by defined benefit plan from participant which increases plan assets. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of foreign currency translation gain (loss) which increases (decreases) plan assets of defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of cost for actuarial present value of benefits attributed to service rendered by employee for defined benefit plan. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of payment, which decreases plan assets of defined benefit plan, for irrevocable action relieving primary responsibility for benefit obligation and eliminating risk for obligation and assets used to effect settlement. Transaction constituting settlement includes, but is not limited to, making lump-sum cash payment to participant in exchange for their rights to receive specified benefits and purchasing nonparticipating annuity contract. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- References No definition available.
|
X | ||||||||||
- Definition Amount of liability, recognized in statement of financial position, for defined benefit pension and other postretirement plans, classified as current. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Definition Amount of liability, recognized in statement of financial position, for defined benefit pension and other postretirement plans, classified as noncurrent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
X | ||||||||||
- Details
|