XML 47 R35.htm IDEA: XBRL DOCUMENT v3.8.0.1
Accumulated Other Comrehensive Income (Loss) (Tables)
 9 Months Ended
Dec. 30, 2017
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Schedule of Accumulated Other Comprehensive Income (Loss)
The following table presents OCI activity, net of tax, accumulated in equity:
 
 
Foreign Currency Translation Gains (Losses)(a)
 
Net Unrealized Gains (Losses) on Cash Flow Hedges(b)
 
Net Unrealized Gains (Losses) on Defined
Benefit Plans(c)
 
Total Accumulated Other Comprehensive Income (Loss)
 
 
(millions)
Balance at April 2, 2016
 
$
(157.6
)
 
$
(12.0
)
 
$
(11.9
)
 
$
(181.5
)
Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
 
 
OCI before reclassifications
 
(86.7
)
 
42.1

 
1.0

 
(43.6
)
Amounts reclassified from AOCI to earnings
 
—

 
1.1

 
1.0

 
2.1

Other comprehensive income (loss), net of tax
 
(86.7
)
 
43.2

 
2.0

 
(41.5
)
Balance at December 31, 2016
 
$
(244.3
)
 
$
31.2

 
$
(9.9
)
 
$
(223.0
)
 
 
 
 
 
 
 
 
 
Balance at April 1, 2017
 
$
(206.2
)
 
$
14.6

 
$
(6.8
)
 
$
(198.4
)
Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
 
 
OCI before reclassifications
 
90.7

 
(26.4
)
 
(1.0
)
 
63.3

Amounts reclassified from AOCI to earnings
 
—

 
4.4

 
0.1

 
4.5

Other comprehensive income (loss), net of tax
 
90.7

 
(22.0
)
 
(0.9
)
 
67.8

Balance at December 30, 2017
 
$
(115.5
)
 
$
(7.4
)
 
$
(7.7
)
 
$
(130.6
)
 
(a)
OCI before reclassifications to earnings related to foreign currency translation gains (losses) includes an income tax benefit of $23.4 million for the nine months ended December 30, 2017, and is presented net of an income tax provision of $19.1 million for the nine months ended December 31, 2016. OCI before reclassifications to earnings for the nine-month periods ended December 30, 2017 and December 31, 2016 include a loss of $45.5 million (net of a $27.6 million income tax benefit) and a gain of $27.8 million (net of a $17.4 million income tax provision), respectively, related to the effective portion of changes in the fair values of the Cross-Currency Swaps designated as hedges of the Company's net investment in certain of its European subsidiaries (see Note 12).
(b) 
OCI before reclassifications to earnings related to net unrealized gains (losses) on cash flow hedges are presented net of an income tax benefit of $2.4 million and an income tax provision of $4.6 million for the nine-month periods ended December 30, 2017 and December 31, 2016, respectively. The tax effects on amounts reclassified from AOCI to earnings are presented in a table below.
(c) 
Activity is presented net of taxes, which were immaterial for both periods presented.
Reclassification out of Accumulated Other Comprehensive Income (Loss)
The following table presents reclassifications from AOCI to earnings for cash flow hedges, by component:
 
 
Three Months Ended
 
Nine Months Ended
 
Location of Gains (Losses)
Reclassified from AOCI
to Earnings
 
 
December 30,
2017
 
December 31,
2016
 
December 30,
2017
 
December 31,
2016
 
 
 
(millions)
 
 
Gains (losses) on cash flow hedges(a):
 
 
 
 
 
 
 
 
 
 
    FC — Cash flow hedges
 
$
(5.9
)
 
$
(2.7
)
 
$
(4.3
)
 
$
(4.2
)
 
Cost of goods sold
    FC — Cash flow hedges
 
0.6

 
9.3

 
(0.4
)
 
3.3

 
Foreign currency gains (losses)
    Tax effect
 
0.5

 
(1.4
)
 
0.3

 
(0.2
)
 
Income tax benefit (provision)
        Net of tax
 
$
(4.8
)
 
$
5.2

 
$
(4.4
)
 
$
(1.1
)
 
 
 
(a) 
FC = Forward foreign currency exchange contracts.