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CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 12 Months Ended
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Apr. 02, 2022
Equity [Abstract] |
Deferred Components of OCI Reported, Net of Related Income Taxes, in Accumulated OCI in Stockholders' Equity and Changes in AOCI | The deferred components of OCI are reported, net of related income taxes, in accumulated OCI in stockholders’ equity, as follows:
(In thousands) |  | March 2022 |  |  | March 2021
Foreign currency translation and other |  | $ | (751,632) |  |  |  | $ | (700,173) |
Defined benefit pension plans |  | (230,290) |  |  |  | (257,747) |
Derivative financial instruments |  | 55,343 |  |  |  | (51,080) |
Accumulated other comprehensive income (loss) |  | $ | (926,579) |  |  |  | $ | (1,009,000) |
The changes in accumulated OCI, net of related taxes, are as follows:
(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 accounting standard related to reclassification of stranded tax effects | (9,088) |  |  | (50,402) |  |  | (2,371) |  |  |  |  | (61,861) |  |
Other comprehensive income (loss) before reclassifications | (134,297) |  |  | (2,757) |  |  | 76,797 |  |  |  |  | (60,257) |  |
Amounts reclassified from accumulated other comprehensive income (loss) | 48,261 |  |  | 33,077 |  |  | (63,396) |  |  |  |  | 17,942 |  |
Spin-off of Jeans Business | 83,094 |  |  | 794 |  |  | (8,595) |  |  |  |  | 75,293 |  |
Net other comprehensive income (loss) | (12,030) |  |  | (19,288) |  |  | 2,435 |  |  |  |  | (28,883) |  |
Balance, March 2020 | (737,709) |  |  | (262,472) |  |  | 69,223 |  |  |  |  | (930,958) |  |
Other comprehensive income (loss) before reclassifications | (4,828) |  |  | (6,197) |  |  | (100,448) |  |  |  |  | (111,473) |  |
Amounts reclassified from accumulated other comprehensive income (loss) | 42,364 |  |  | 10,922 |  |  | (19,855) |  |  |  |  | 33,431 |  |
Net other comprehensive income (loss) | 37,536 |  |  | 4,725 |  |  | (120,303) |  |  |  |  | (78,042) |  |
Balance, March 2021 | (700,173) |  |  | (257,747) |  |  | (51,080) |  |  |  |  | (1,009,000) |  |
Other comprehensive income (loss) before reclassifications | (51,459) |  |  | 13,547 |  |  | 59,753 |  |  |  |  | 21,841 |  |
Amounts reclassified from accumulated other comprehensive income (loss) | — |  |  | 13,910 |  |  | 46,670 |  |  |  |  | 60,580 |  |
Net other comprehensive income (loss) | (51,459) |  |  | 27,457 |  |  | 106,423 |  |  |  |  | 82,421 |  |
Balance, March 2022 | $ | (751,632) |  |  | $ | (230,290) |  |  | $ | 55,343 |  |  |  |  | $ | (926,579) |  |
Reclassifications Out of Accumulated OCI | Reclassifications out of accumulated OCI are as follows:
(In thousands) | Affected Line Item in the Consolidated Statements of Operations |  |  | Year Ended March
Details About Accumulated Other Comprehensive Income (Loss) Components |  |
|  | 2022 |  |  | 2021 |  | 2020
Losses on foreign currency translation and other: |  |  |  |  |  |  |  |
Liquidation of foreign entities | Other income (expense), net |  |  | $ | — |  |  |  | $ | (42,364) |  |  | $ | (48,261) |
Total before tax |  |  |  | — |  |  |  | (42,364) |  |  | (48,261) |
Tax (expense) benefit |  |  |  | — |  |  |  | — |  |  | — |
Net of tax |  |  |  | — |  |  |  | (42,364) |  |  | (48,261) |
Amortization of defined benefit pension plans: |  |  |  |  |  |  |  |
Net deferred actuarial losses | Other income (expense), net |  |  | (11,310) |  |  |  | (11,911) |  |  | (14,848) |
Deferred prior service (costs) credits | Other income (expense), net |  |  | 440 |  |  |  | 81 |  |  | (1,887) |
Pension settlement charges | Other income (expense), net |  |  | (7,466) |  |  |  | (1,584) |  |  | (27,443) |
Pension curtailment losses | Other income (expense), net |  |  | — |  |  |  | (920) |  |  | — |
Total before tax |  |  |  | (18,336) |  |  |  | (14,334) |  |  | (44,178) |
Tax benefit |  |  |  | 4,426 |  |  |  | 3,412 |  |  | 11,101 |
Net of tax |  |  |  | (13,910) |  |  |  | (10,922) |  |  | (33,077) |
Gains (losses) on derivative financial instruments: |  |  |  |  |  |  |  |
Foreign exchange contracts | Net revenues |  |  | (27,382) |  |  |  | 2,596 |  |  | (18,076) |
Foreign exchange contracts | Cost of goods sold |  |  | (26,346) |  |  |  | 19,485 |  |  | 94,376 |
Foreign exchange contracts | Selling, general and administrative expenses |  |  | (487) |  |  |  | 2,797 |  |  | 5,084 |
Foreign exchange contracts | Other income (expense), net |  |  | (219) |  |  |  | (137) |  |  | 10,304 |
Interest rate contracts | Interest expense |  |  | 108 |  |  |  | 107 |  |  | (13,177) |
Total before tax |  |  |  | (54,326) |  |  |  | 24,848 |  |  | 78,511 |
Tax (expense) benefit |  |  |  | 7,656 |  |  |  | (4,993) |  |  | (15,115) |
Net of tax |  |  |  | (46,670) |  |  |  | 19,855 |  |  | 63,396 |
Total reclassifications for the period, net of tax |  |  | $ | (60,580) |  |  |  | $ | (33,431) |  |  | $ | (17,942) |

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