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CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 6 Months Ended
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Sep. 26, 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) |  | September 2020 |  |  | March 2020 |  | September 2019
Foreign currency translation and other |  | $ | (700,137) |  |  |  | $ | (737,709) |  |  | $ | (715,286) |
Defined benefit pension plans |  | (264,304) |  |  |  | (262,472) |  |  | (298,326) |
Derivative financial instruments |  | 4,783 |  |  |  | 69,223 |  |  | 82,887 |
Accumulated other comprehensive income (loss) |  | $ | (959,658) |  |  |  | $ | (930,958) |  |  | $ | (930,725) |
The changes in accumulated OCI, net of related taxes, were as follows:
| Three Months Ended September 2020 |
(In thousands) | Foreign Currency Translation and Other |  | Defined Benefit Pension Plans |  | Derivative Financial Instruments |  | Total |
Balance, June 2020 | $ | (685,236) |  |  | $ | (259,290) |  |  | $ | 46,985 |  |  | $ | (897,541) |  |
Other comprehensive income (loss) before reclassifications | (14,901) |  |  | (7,629) |  |  | (32,534) |  |  | (55,064) |  |
Amounts reclassified from accumulated other comprehensive income (loss) | — |  |  | 2,615 |  |  | (9,668) |  |  | (7,053) |  |
Net other comprehensive income (loss) | (14,901) |  |  | (5,014) |  |  | (42,202) |  |  | (62,117) |  |
Balance, September 2020 | $ | (700,137) |  |  | $ | (264,304) |  |  | $ | 4,783 |  |  | $ | (959,658) |  |
| Three Months Ended September 2019
(In thousands) | Foreign Currency Translation and Other |  | Defined Benefit Pension Plans |  | Derivative Financial Instruments |  | Total
Balance, June 2019 | $ | (635,901) |  |  | $ | (290,468) |  |  | $ | 58,983 |  |  | $ | (867,386) |
Other comprehensive income (loss) before reclassifications | (79,385) |  |  | (10,896) |  |  | 44,348 |  |  | (45,933) |
Amounts reclassified from accumulated other comprehensive income (loss) | — |  |  | 3,038 |  |  | (20,444) |  |  | (17,406) |
Net other comprehensive income (loss) | (79,385) |  |  | (7,858) |  |  | 23,904 |  |  | (63,339) |
Balance, September 2019 | $ | (715,286) |  |  | $ | (298,326) |  |  | $ | 82,887 |  |  | $ | (930,725) |
| Six Months Ended September 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 | (4,792) |  |  | (6,642) |  |  | (38,599) |  |  | (50,033) |  |
Amounts reclassified from accumulated other comprehensive income (loss) | 42,364 |  |  | 4,810 |  |  | (25,841) |  |  | 21,333 |  |
Net other comprehensive income (loss) | 37,572 |  |  | (1,832) |  |  | (64,440) |  |  | (28,700) |  |
Balance, September 2020 | $ | (700,137) |  |  | $ | (264,304) |  |  | $ | 4,783 |  |  | $ | (959,658) |  |
| Six Months Ended September 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 | (63,613) |  |  | (11,719) |  |  | 55,248 |  |  | (20,084) |
Amounts reclassified from accumulated other comprehensive income (loss) | — |  |  | 6,185 |  |  | (28,183) |  |  | (21,998) |
Spin-off of Jeans Business | 83,094 |  |  | 794 |  |  | (8,595) |  |  | 75,293 |
Net other comprehensive income (loss) | 10,393 |  |  | (55,142) |  |  | 16,099 |  |  | (28,650) |
Balance, September 2019 | $ | (715,286) |  |  | $ | (298,326) |  |  | $ | 82,887 |  |  | $ | (930,725) |
Reclassifications out of accumulated OCI were as follows:
Reclassifications Out of Accumulated OCI |
(In thousands) |  |  |  | Three Months Ended September |  |  | Six Months Ended September
Details About Accumulated Other Comprehensive Income (Loss) Components | Affected Line Item in the Consolidated Statements of Operations
|  | 2020 |  |  | 2019 |  |  | 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 |  |  | (2,898) |  |  |  | (4,014) |  |  |  | (5,761) |  |  |  | (8,033) |
Deferred prior service (costs) credits | Other income (expense), net |  |  | 17 |  |  |  | (12) |  |  |  | 34 |  |  |  | (25) |
Pension settlement charges | Other income (expense), net |  |  | (572) |  |  |  | (519) |  |  |  | (572) |  |  |  | (519) |
Total before tax |  |  |  | (3,453) |  |  |  | (4,545) |  |  |  | (6,299) |  |  |  | (8,577) |
Tax benefit |  |  |  | 838 |  |  |  | 1,507 |  |  |  | 1,489 |  |  |  | 2,392 |
Net of tax |  |  |  | (2,615) |  |  |  | (3,038) |  |  |  | (4,810) |  |  |  | (6,185) |
Gains (losses) on derivative financial instruments: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts | Net revenues |  |  | 2,135 |  |  |  | (2,814) |  |  |  | 2,306 |  |  |  | (5,719) |
Foreign exchange contracts | Cost of goods sold |  |  | 8,443 |  |  |  | 22,727 |  |  |  | 25,148 |  |  |  | 33,832 |
Foreign exchange contracts | Selling, general and administrative expenses |  |  | 741 |  |  |  | 1,382 |  |  |  | 2,348 |  |  |  | 2,098 |
Foreign exchange contracts | Other income (expense), net |  |  | 33 |  |  |  | 3,696 |  |  |  | 1,803 |  |  |  | 6,568 |
Interest rate contracts | Interest expense |  |  | 27 |  |  |  | (1,303) |  |  |  | 54 |  |  |  | (2,596) |
Total before tax |  |  |  | 11,379 |  |  |  | 23,688 |  |  |  | 31,659 |  |  |  | 34,183 |
Tax expense |  |  |  | (1,711) |  |  |  | (3,244) |  |  |  | (5,818) |  |  |  | (6,000) |
Net of tax |  |  |  | 9,668 |  |  |  | 20,444 |  |  |  | 25,841 |  |  |  | 28,183 |
Total reclassifications for the period, net of tax |  |  | $ | 7,053 |  |  |  | $ | 17,406 |  |  |  | $ | (21,333) |  |  |  | $ | 21,998 |

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