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OTHER LIABILITIES | 12 Months Ended
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Apr. 02, 2022
Other Liabilities Disclosure [Abstract] |
OTHER LIABILITIES | OTHER LIABILITIES
(In thousands) |  | March 2022 |  |  | March 2021
Deferred income taxes (Note 19) |  | $ | 150,401 |  |  |  | $ | 342,712 |
Deferred compensation (Note 16) |  | 114,380 |  |  |  | 139,750 |
Income taxes |  | 394,472 |  |  |  | 553,684 |
Contingent consideration (Note 23) |  | — |  |  |  | 207,000 |
Pension liabilities (Note 16) |  | 111,173 |  |  |  | 166,750 |
Product warranty claims |  | 41,745 |  |  |  | 48,691 |
Derivative financial instruments (Note 24) |  | 3,456 |  |  |  | 7,904 |
Other |  | 72,809 |  |  |  | 75,287 |
Other liabilities |  | $ | 888,436 |  |  |  | $ | 1,541,778 |
VF accrues warranty costs at the time revenue is recognized. Product warranty costs are estimated based on historical experience and specific identification of the product requirements, which may fluctuate based on product mix. Activity relating to accrued product warranty claims is summarized as follows:
|  | Year Ended March
(In thousands) |  | 2022 |  |  | 2021 |  | 2020
Balance, beginning of year |  | $ | 62,087 |  |  |  | $ | 60,124 |  |  | $ | 61,919 |
Accrual for products sold during the year |  | 8,815 |  |  |  | 13,844 |  |  | 11,283 |
Repair or replacement costs incurred and other |  | (17,025) |  |  |  | (12,386) |  |  | (11,079) |
Currency translation |  | (390) |  |  |  | 505 |  |  | (1,999) |
Balance, end of year |  | 53,487 |  |  |  | 62,087 |  |  | 60,124 |
Less current portion (Note 13) |  | 11,742 |  |  |  | 13,396 |  |  | 12,590 |
Long-term portion |  | $ | 41,745 |  |  |  | $ | 48,691 |  |  | $ | 47,534 |

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- Definition The entire disclosure for other liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20,24) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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