| Schedule of 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 other comprehensive income (loss) are reported, net of related income taxes, in accumulated OCL in stockholders’ equity, as follows:
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| (In thousands) |
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September 2023 |
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March 2023 |
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September 2022 |
| Foreign currency translation and other |
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$ |
(878,089) |
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$ |
(859,651) |
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$ |
(883,846) |
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| Defined benefit pension plans |
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(155,638) |
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(167,692) |
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(166,545) |
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| Derivative financial instruments |
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22,022Ìý |
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7,825Ìý |
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206,226Ìý |
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| Accumulated other comprehensive loss |
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$ |
(1,011,705) |
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$ |
(1,019,518) |
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$ |
(844,165) |
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The changes in accumulated OCL, net of related taxes, were as follows:
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| Ìý |
Three Months Ended September 2023 |
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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, June 2023 |
$ |
(872,800) |
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$ |
(161,211) |
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$ |
(19,518) |
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$ |
(1,053,529) |
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Other comprehensive income (loss) before reclassifications |
(5,289) |
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2,676Ìý |
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50,043Ìý |
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47,430Ìý |
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Amounts reclassified from accumulated other comprehensive loss |
—Ìý |
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2,897Ìý |
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(8,503) |
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(5,606) |
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Net other comprehensive income (loss) |
(5,289) |
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5,573Ìý |
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41,540Ìý |
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41,824Ìý |
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| Balance, September 2023 |
$ |
(878,089) |
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$ |
(155,638) |
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$ |
22,022Ìý
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$ |
(1,011,705) |
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| Ìý |
Three Months Ended September 2022 |
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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, June 2022 |
$ |
(833,166) |
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$ |
(174,139) |
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$ |
132,429Ìý
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$ |
(874,876) |
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Other comprehensive income (loss) before reclassifications |
(50,680) |
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4,108Ìý |
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86,329Ìý |
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39,757Ìý |
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Amounts reclassified from accumulated other comprehensive loss |
—Ìý |
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3,486Ìý |
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(12,532) |
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(9,046) |
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Net other comprehensive income (loss) |
(50,680) |
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7,594Ìý |
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73,797Ìý |
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30,711Ìý |
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| Balance, September 2022 |
$ |
(883,846) |
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$ |
(166,545) |
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$ |
206,226Ìý
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$ |
(844,165) |
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Six Months Ended September 2023 |
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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 2023 |
$ |
(859,651) |
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$ |
(167,692) |
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$ |
7,825Ìý
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$ |
(1,019,518) |
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| Other comprehensive income (loss) before reclassifications |
(18,438) |
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3,764Ìý |
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31,441Ìý |
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16,767Ìý |
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| Amounts reclassified from accumulated other comprehensive loss |
—Ìý |
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8,290Ìý |
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(17,244) |
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(8,954) |
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| Net other comprehensive income (loss) |
(18,438) |
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12,054Ìý |
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14,197Ìý |
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7,813Ìý |
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| Balance, September 2023 |
$ |
(878,089) |
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$ |
(155,638) |
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$ |
22,022Ìý
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$ |
(1,011,705) |
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| Ìý |
Six Months Ended September 2022 |
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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, 2022 |
$ |
(751,632) |
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$ |
(230,290) |
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$ |
55,343Ìý
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$ |
(926,579) |
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| Other comprehensive income (loss) before reclassifications |
(132,214) |
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(10,376) |
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170,384Ìý |
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27,794Ìý |
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| Amounts reclassified from accumulated other comprehensive loss |
—Ìý |
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74,121Ìý |
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(19,501) |
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54,620Ìý |
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| Net other comprehensive income (loss) |
(132,214) |
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63,745Ìý |
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150,883Ìý |
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82,414Ìý |
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| Balance, September 2022 |
$ |
(883,846) |
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$ |
(166,545) |
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$ |
206,226Ìý
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$ |
(844,165) |
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| Schedule of Reclassifications Out of Accumulated OCI |
Reclassifications out of accumulated OCL were as follows:
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| (In thousands) |
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Three Months Ended September |
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Six Months Ended September |
| Details About Accumulated Other Comprehensive Loss Components |
AffectedÌýLineÌýItemÌýinÌýthe Consolidated Statements of Operations |
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2023 |
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2022 |
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2023 |
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2022 |
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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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$ |
(4,170) |
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$ |
(3,953) |
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$ |
(8,402) |
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$ |
(7,674) |
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Deferred prior service credits |
Other income (expense), net |
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137Ìý |
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111Ìý |
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272Ìý |
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223Ìý |
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Pension settlement charges |
Other income (expense), net |
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(7) |
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(1,141) |
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(3,299) |
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(92,902) |
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TotalÌýbeforeÌýtax |
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(4,040) |
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(4,983) |
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(11,429) |
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(100,353) |
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TaxÌýbenefit |
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1,143Ìý |
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1,497Ìý |
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3,139Ìý |
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26,232Ìý |
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Net of tax |
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(2,897) |
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(3,486) |
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(8,290) |
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(74,121) |
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| Gains (losses) on derivative financial instruments: |
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Foreign exchange contracts |
Net revenues |
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(516) |
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(6,421) |
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574Ìý |
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(9,955) |
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Foreign exchange contracts |
CostÌýofÌýgoodsÌýsold |
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9,399Ìý |
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23,658Ìý |
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17,474Ìý |
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35,014Ìý |
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Foreign exchange contracts |
Selling, general and administrative expenses |
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1,007Ìý |
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1,955Ìý |
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2,308Ìý |
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3,564Ìý |
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Foreign exchange contracts |
OtherÌýincomeÌý(expense),Ìýnet |
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(750) |
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(4,313) |
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(1,261) |
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(5,529) |
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Interest rate contracts |
Interest expense |
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1,098Ìý |
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27Ìý |
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1,823Ìý |
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54Ìý |
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Total before tax |
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10,238Ìý |
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14,906Ìý |
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20,918Ìý |
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23,148Ìý |
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TaxÌýexpense |
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(1,735) |
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(2,374) |
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(3,674) |
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(3,647) |
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Net of tax |
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8,503Ìý |
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12,532Ìý |
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17,244Ìý |
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19,501Ìý |
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| Total reclassifications for the period, net of tax |
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$ |
5,606Ìý |
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$ |
9,046Ìý |
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$ |
8,954Ìý |
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$ |
(54,620) |
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