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Accumulated Other Comrehensive Income (Loss) (Tables)

6 Months Ended

Sep. 25, 2021

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 March 27, 2021						$	(123.2)					$	4.6					$	(2.2)					$	(120.8)
Other comprehensive income (loss), net of tax:
OCI before reclassifications						0.8						0.2						—						1.0
Amounts reclassified from AOCI to earnings						—						(0.1)						(0.1)						(0.2)
Other comprehensive income (loss), net of tax						0.8						0.1						(0.1)						0.8
Balance at September 25, 2021						$	(122.4)					$	4.7					$	(2.3)					$	(120.0)
Balance at March 28, 2020						$	(130.4)					$	18.0					$	(5.8)					$	(118.2)
Other comprehensive income (loss), net of tax:
OCI before reclassifications						30.3						(5.8)						(0.3)						24.2
Amounts reclassified from AOCI to earnings						—						(5.5)						—						(5.5)
Other comprehensive income (loss), net of tax						30.3						(11.3)						(0.3)						18.7
Balance at September 26, 2020						$	(100.1)					$	6.7					$	(6.1)					$	(99.5)

(a)OCI before reclassifications to earnings related to foreign currency translation gains (losses) includes an income tax provision of $4.0 million and an income tax benefit of $11.2 million for the six-month periods ended September 25, 2021 and September 26, 2020, respectively. OCI before reclassifications to earnings for the six-month periods ended September 25, 2021 and September 26, 2020 includes a gain of $13.0 million (net of a $4.0 million income tax provision) and a loss of $34.8 million (net of a $10.8 million income tax benefit), respectively, related to changes in the fair values of instruments designated as hedges of the Company's net investment in certain foreign operations (see Note 12).

(b)OCI before reclassifications to earnings related to net unrealized gains (losses) on cash flow hedges are presented net of an immaterial tax effect for the six-month period ended September 25, 2021 and net of an income tax benefit of $0.8 million for the six-month period ended September 26, 2020. 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												Six Months Ended												Location of Gains (Losses) Reclassified from AOCI to Earnings
						September 25, 2021						September 26, 2020						September 25, 2021						September 26, 2020
						(millions)
Gains (losses) on cash flow hedges(a):
FC — Cash flow hedges						$	0.2					$	4.8					$	0.1					$	6.5					Cost of goods sold
FC — Cash flow hedges						—						—						—						(0.3)						Other income (expense), net
Tax effect						—						(0.5)						—						(0.7)						Income tax benefit (provision)
Net of tax						$	0.2					$	4.3					$	0.1					$	5.5

(a)FC = Forward foreign currency exchange contracts.

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- Definition

Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss).

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Tabular disclosure of the components of accumulated other comprehensive income (loss).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6450520&loc=d3e32583-110901

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-URI http://asc.fasb.org/extlink&oid=124509347&loc=SL7669686-108580

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 830
-SubTopic 30
-Section 45
-Paragraph 20
-URI http://asc.fasb.org/extlink&oid=118261656&loc=d3e32211-110900

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