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CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 9 Months Ended
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Jan. 01, 2022
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) |  | December 2021 |  |  | March 2021 |  | December 2020
Foreign currency translation and other |  | $ | (712,831) |  |  |  | $ | (700,173) |  |  | $ | (663,863) |
Defined benefit pension plans |  | (248,971) |  |  |  | (257,747) |  |  | (264,966) |
Derivative financial instruments |  | 24,345 |  |  |  | (51,080) |  |  | (67,134) |
Accumulated other comprehensive income (loss) |  | $ | (937,457) |  |  |  | $ | (1,009,000) |  |  | $ | (995,963) |
The changes in accumulated OCI, net of related taxes, were as follows:
| Three Months Ended December 2021 |
(In thousands) | Foreign Currency Translation and Other |  | Defined Benefit Pension Plans |  | Derivative Financial Instruments |  | Total |
Balance, September 2021 | $ | (687,120) |  |  | $ | (255,635) |  |  | $ | 1,921 |  |  | $ | (940,834) |  |
Other comprehensive income (loss) before reclassifications | (25,711) |  |  | 383 |  |  | 11,961 |  |  | (13,367) |  |
Amounts reclassified from accumulated other comprehensive income (loss) | — |  |  | 6,281 |  |  | 10,463 |  |  | 16,744 |  |
Net other comprehensive income (loss) | (25,711) |  |  | 6,664 |  |  | 22,424 |  |  | 3,377 |  |
Balance, December 2021 | $ | (712,831) |  |  | $ | (248,971) |  |  | $ | 24,345 |  |  | $ | (937,457) |  |
| Three Months Ended December 2020
(In thousands) | Foreign Currency Translation and Other |  | Defined Benefit Pension Plans |  | Derivative Financial Instruments |  | Total
Balance, September 2020 | $ | (700,137) |  |  | $ | (264,304) |  |  | $ | 4,783 |  |  | $ | (959,658) |
Other comprehensive income (loss) before reclassifications | 36,274 |  |  | (3,541) |  |  | (68,373) |  |  | (35,640) |
Amounts reclassified from accumulated other comprehensive income (loss) | — |  |  | 2,879 |  |  | (3,544) |  |  | (665) |
Net other comprehensive income (loss) | 36,274 |  |  | (662) |  |  | (71,917) |  |  | (36,305) |
Balance, December 2020 | $ | (663,863) |  |  | $ | (264,966) |  |  | $ | (67,134) |  |  | $ | (995,963) |
| Nine Months Ended December 2021 |
(In thousands) | Foreign Currency Translation and Other |  | Defined Benefit Pension Plans |  | Derivative Financial Instruments |  | Total |
Balance, March 2021 | $ | (700,173) |  |  | $ | (257,747) |  |  | $ | (51,080) |  |  | $ | (1,009,000) |  |
Other comprehensive income (loss) before reclassifications | (12,658) |  |  | (2,355) |  |  | 35,973 |  |  | 20,960 |  |
Amounts reclassified from accumulated other comprehensive income (loss) | — |  |  | 11,131 |  |  | 39,452 |  |  | 50,583 |  |
Net other comprehensive income (loss) | (12,658) |  |  | 8,776 |  |  | 75,425 |  |  | 71,543 |  |
Balance, December 2021 | $ | (712,831) |  |  | $ | (248,971) |  |  | $ | 24,345 |  |  | $ | (937,457) |  |
| Nine Months Ended December 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 | 31,482 |  |  | (10,183) |  |  | (106,972) |  |  | (85,673) |  |
Amounts reclassified from accumulated other comprehensive income (loss) | 42,364 |  |  | 7,689 |  |  | (29,385) |  |  | 20,668 |  |
Net other comprehensive income (loss) | 73,846 |  |  | (2,494) |  |  | (136,357) |  |  | (65,005) |  |
Balance, December 2020 | $ | (663,863) |  |  | $ | (264,966) |  |  | $ | (67,134) |  |  | $ | (995,963) |  |
Reclassifications Out of Accumulated OCI | Reclassifications out of accumulated OCI were as follows:
(In thousands) |  |  |  | Three Months Ended December |  |  | Nine Months Ended December
Details About Accumulated Other Comprehensive Income (Loss) Components | Affected Line Item in the Consolidated Statements of Operations
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020
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 |  |  | (2,858) |  |  |  | (3,020) |  |  |  | (8,569) |  |  |  | (8,781) |
Deferred prior service credits | Other income (expense), net |  |  | 117 |  |  |  | 19 |  |  |  | 352 |  |  |  | 53 |
Pension settlement charges | Other income (expense), net |  |  | (5,660) |  |  |  | (544) |  |  |  | (6,684) |  |  |  | (1,116) |
Total before tax |  |  |  | (8,401) |  |  |  | (3,545) |  |  |  | (14,901) |  |  |  | (9,844) |
Tax benefit |  |  |  | 2,120 |  |  |  | 666 |  |  |  | 3,770 |  |  |  | 2,155 |
Net of tax |  |  |  | (6,281) |  |  |  | (2,879) |  |  |  | (11,131) |  |  |  | (7,689) |
Gains (losses) on derivative financial instruments: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts | Net revenues |  |  | (9,284) |  |  |  | 4,048 |  |  |  | (16,045) |  |  |  | 6,354 |
Foreign exchange contracts | Cost of goods sold |  |  | (3,974) |  |  |  | 224 |  |  |  | (26,644) |  |  |  | 25,372 |
Foreign exchange contracts | Selling, general and administrative expenses |  |  | 688 |  |  |  | 586 |  |  |  | (418) |  |  |  | 2,934 |
Foreign exchange contracts | Other income (expense), net |  |  | 104 |  |  |  | (613) |  |  |  | (2,958) |  |  |  | 1,190 |
Interest rate contracts | Interest expense |  |  | 27 |  |  |  | 26 |  |  |  | 81 |  |  |  | 80 |
Total before tax |  |  |  | (12,439) |  |  |  | 4,271 |  |  |  | (45,984) |  |  |  | 35,930 |
Tax (expense) benefit |  |  |  | 1,976 |  |  |  | (727) |  |  |  | 6,532 |  |  |  | (6,545) |
Net of tax |  |  |  | (10,463) |  |  |  | 3,544 |  |  |  | (39,452) |  |  |  | 29,385 |
Total reclassifications for the period, net of tax |  |  | $ | (16,744) |  |  |  | $ | 665 |  |  |  | $ | (50,583) |  |  |  | $ | (20,668) |

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