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Accumulated Other Comrehensive Income (Loss) (Tables)

6 Months Ended

Sep. 28, 2024

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 30, 2024						$	(280.0)					$	7.2					$	(3.3)					$	(276.1)
Other comprehensive income (loss), net of tax:
OCI before reclassifications						59.9						(5.2)						(1.2)						53.5
Amounts reclassified from AOCI to earnings						—						(4.2)						1.1						(3.1)
Other comprehensive income (loss), net of tax						59.9						(9.4)						(0.1)						50.4
Balance at September 28, 2024						$	(220.1)					$	(2.2)					$	(3.4)					$	(225.7)
Balance at April 1, 2023						$	(203.8)					$	4.1					$	3.7					$	(196.0)
Other comprehensive income (loss), net of tax:
OCI before reclassifications						(75.6)						14.3						(0.1)						(61.4)
Amounts reclassified from AOCI to earnings						—						(5.3)						(0.1)						(5.4)
Other comprehensive income (loss), net of tax						(75.6)						9.0						(0.2)						(66.8)
Balance at September 30, 2023						$	(279.4)					$	13.1					$	3.5					$	(262.8)

(a)OCI before reclassifications to earnings related to foreign currency translation gains (losses) includes an income tax benefit of $5.0 million and an income tax provision of $2.9 million for the six-month periods ended September 28, 2024 and September 30, 2023, respectively. OCI before reclassifications to earnings for the six-month periods ended September 28, 2024 and September 30, 2023 includes losses of $12.2 million (net of a $3.9 million income tax benefit) and $0.8 million (net of a $0.3 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 11).

(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 $0.9 million and an income tax provision of $2.3 million for the six-month periods ended September 28, 2024 and September 30, 2023, 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												Six Months Ended												Location of Gains (Losses) Reclassified from AOCI to Earnings
						September 28, 2024						September 30, 2023						September 28, 2024						September 30, 2023
						(millions)
Gains (losses) on cash flow hedges(a):
FC — Cash flow hedges						$	2.7					$	1.3					$	4.9					$	6.2					Cost of goods sold
Tax effect						(0.4)						(0.3)						(0.7)						(0.9)						Income tax provision
Net of tax						$	2.3					$	1.0					$	4.2					$	5.3

(a)FC = Forward foreign currency exchange contracts.

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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).

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section 45
-Paragraph 14A
-Publisher FASB
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Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481674/830-30-50-1

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-Topic 830
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 20
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481694/830-30-45-20

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