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CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 3 Months Ended
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Jun. 27, 2020
Equity [Abstract] |
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 OCI are reported, net of related income taxes, in accumulated OCI in stockholders’ equity, as follows:
(In thousands) |  | June 2020 |  |  | March 2020 |  | June 2019
Foreign currency translation and other |  | $ | (685,236) |  |  |  | $ | (737,709) |  |  | $ | (635,901) |
Defined benefit pension plans |  | (259,290) |  |  |  | (262,472) |  |  | (290,468) |
Derivative financial instruments |  | 46,985 |  |  |  | 69,223 |  |  | 58,983 |
Accumulated other comprehensive income (loss) |  | $ | (897,541) |  |  |  | $ | (930,958) |  |  | $ | (867,386) |
The changes in accumulated OCI, net of related taxes, were as follows:
| Three Months Ended June 2020 |  |  |  |  |  |  |
(In thousands) | Foreign Currency Translation and Other |  | Defined Benefit Pension Plans |  | Derivative Financial Instruments |  | Total |
Balance, March 2020 | $ | (737,709) |  |  | $ | (262,472) |  |  | $ | 69,223 |  |  | $ | (930,958) |  |
Other comprehensive income (loss) before reclassifications | 10,109 |  |  | 987 |  |  | (6,065) |  |  | 5,031 |  |
Amounts reclassified from accumulated other comprehensive income (loss) | 42,364 |  |  | 2,195 |  |  | (16,173) |  |  | 28,386 |  |
Net other comprehensive income (loss) | 52,473 |  |  | 3,182 |  |  | (22,238) |  |  | 33,417 |  |
Balance, June 2020 | $ | (685,236) |  |  | $ | (259,290) |  |  | $ | 46,985 |  |  | $ | (897,541) |  |
| Three Months Ended June 2019 |  |  |  |  |  |
(In thousands) | Foreign Currency Translation and Other |  | Defined Benefit Pension Plans |  | Derivative Financial Instruments |  | Total
Balance, March 2019 | $ | (725,679) |  |  | $ | (243,184) |  |  | $ | 66,788 |  |  | $ | (902,075) |
Adoption of new accounting standard, ASU 2018-02 | (9,088) |  |  | (50,402) |  |  | (2,371) |  |  | (61,861) |
Other comprehensive income (loss) before reclassifications | 15,772 |  |  | (823) |  |  | 10,900 |  |  | 25,849 |
Amounts reclassified from accumulated other comprehensive income (loss) | — |  |  | 3,147 |  |  | (7,739) |  |  | (4,592) |
Spin-off of Jeans Business | 83,094 |  |  | 794 |  |  | (8,595) |  |  | 75,293 |
Net other comprehensive income (loss) | 89,778 |  |  | (47,284) |  |  | (7,805) |  |  | 34,689 |
Balance, June 2019 | $ | (635,901) |  |  | $ | (290,468) |  |  | $ | 58,983 |  |  | $ | (867,386) |
Reclassifications Out of Accumulated OCI | Reclassifications out of accumulated OCI were as follows:
(In thousands) Details About Accumulated Other Comprehensive Income (Loss) Components | Affected Line Item in the Consolidated Statements of Operations |  |  | Three Months Ended June |  |  |  |  |  |  |  |  |
|  |  |  | 2020 |  |  | 2019 |  |  |  |  |  |
Losses on foreign currency translation and other: |  |  |  |  |  |  |  |  |  |  |  |  |
Liquidation of foreign entities | Other income (expense), net |  |  | $ | (42,364) |  |  |  | $ | — |  |  |  |  |  |  |
Total before tax |  |  |  | (42,364) |  |  |  | — |  |  |  |  |  |  |
Tax (expense) benefit |  |  |  | — |  |  |  | — |  |  |  |  |  |  |
Net of tax |  |  |  | (42,364) |  |  |  | — |  |  |  |  |  |  |
Amortization of defined benefit pension plans: |  |  |  |  |  |  |  |  |  |  |  |  |
Net deferred actuarial losses | Other income (expense), net |  |  | (2,863) |  |  |  | (4,019) |  |  |  |  |  |  |
Deferred prior service (costs) credits | Other income (expense), net |  |  | 17 |  |  |  | (13) |  |  |  |  |  |  |
Total before tax |  |  |  | (2,846) |  |  |  | (4,032) |  |  |  |  |  |  |
Tax benefit |  |  |  | 651 |  |  |  | 885 |  |  |  |  |  |  |
Net of tax |  |  |  | (2,195) |  |  |  | (3,147) |  |  |  |  |  |  |
Gains (losses) on derivative financial instruments: |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts | Net revenues |  |  | 171 |  |  |  | (2,905) |  |  |  |  |  |  |
Foreign exchange contracts | Cost of goods sold |  |  | 16,705 |  |  |  | 11,105 |  |  |  |  |  |  |
Foreign exchange contracts | Selling, general and administrative expenses |  |  | 1,607 |  |  |  | 716 |  |  |  |  |  |  |
Foreign exchange contracts | Other income (expense), net |  |  | 1,770 |  |  |  | 2,872 |  |  |  |  |  |  |
Interest rate contracts | Interest expense |  |  | 27 |  |  |  | (1,293) |  |  |  |  |  |  |
Total before tax |  |  |  | 20,280 |  |  |  | 10,495 |  |  |  |  |  |  |
Tax expense |  |  |  | (4,107) |  |  |  | (2,756) |  |  |  |  |  |  |
Net of tax |  |  |  | 16,173 |  |  |  | 7,739 |  |  |  |  |  |  |
Total reclassifications for the period, net of tax |  |  |  | $ | (28,386) |  |  |  | $ | 4,592 |  |  |  |  |  |  |

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