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CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 3 Months Ended
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Jul. 02, 2022
Equity [Abstract] |
Schedule of 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 2022 |  |  | March 2022 |  | June 2021
Foreign currency translation and other |  | $ | (833,166) |  |  |  | $ | (751,632) |  |  | $ | (663,120) |
Defined benefit pension plans |  | (174,139) |  |  |  | (230,290) |  |  | (257,431) |
Derivative financial instruments |  | 132,429 |  |  |  | 55,343 |  |  | (45,335) |
Accumulated other comprehensive income (loss) |  | $ | (874,876) |  |  |  | $ | (926,579) |  |  | $ | (965,886) |
The changes in accumulated OCI, net of related taxes, were as follows:
| Three Months Ended June 2022 |
(In thousands) | Foreign Currency Translation and Other |  | Defined Benefit Pension Plans |  | Derivative Financial Instruments |  | Total |
Balance, March 2022 | $ | (751,632) |  |  | $ | (230,290) |  |  | $ | 55,343 |  |  | $ | (926,579) |  |
Other comprehensive income (loss) before reclassifications | (81,534) |  |  | (14,484) |  |  | 84,055 |  |  | (11,963) |  |
Amounts reclassified from accumulated other comprehensive income (loss) | — |  |  | 70,635 |  |  | (6,969) |  |  | 63,666 |  |
Net other comprehensive income (loss) | (81,534) |  |  | 56,151 |  |  | 77,086 |  |  | 51,703 |  |
Balance, June 2022 | $ | (833,166) |  |  | $ | (174,139) |  |  | $ | 132,429 |  |  | $ | (874,876) |  |
| Three Months Ended June 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 | 37,053 |  |  | (2,411) |  |  | (4,371) |  |  | 30,271 |
Amounts reclassified from accumulated other comprehensive income (loss) | — |  |  | 2,727 |  |  | 10,116 |  |  | 12,843 |
Net other comprehensive income (loss) | 37,053 |  |  | 316 |  |  | 5,745 |  |  | 43,114 |
Balance, June 2021 | $ | (663,120) |  |  | $ | (257,431) |  |  | $ | (45,335) |  |  | $ | (965,886) |
Schedule of Reclassifications Out of Accumulated OCI | Reclassifications out of accumulated OCI were as follows:
(In thousands) |  |  |  | Three Months Ended June |  |  |
Details About Accumulated Other Comprehensive Income (Loss) Components | Affected Line Item in the Consolidated Statements of Operations
|  | 2022 |  |  | 2021 |  |  |  |  |  |
Amortization of defined benefit pension plans: |  |  |  |  |  |  |  |  |  |  |  |
Net deferred actuarial losses | Other income (expense), net |  |  | $ | (3,721) |  |  |  | $ | (2,840) |  |  |  |  |  |  |
Deferred prior service credits | Other income (expense), net |  |  | 112 |  |  |  | 118 |  |  |  |  |  |  |
Pension settlement charges | Other income (expense), net |  |  | (91,761) |  |  |  | (948) |  |  |  |  |  |  |
Total before tax |  |  |  | (95,370) |  |  |  | (3,670) |  |  |  |  |  |  |
Tax benefit |  |  |  | 24,735 |  |  |  | 943 |  |  |  |  |  |  |
Net of tax |  |  |  | (70,635) |  |  |  | (2,727) |  |  |  |  |  |  |
Gains (losses) on derivative financial instruments: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts | Net revenues |  |  | (4,750) |  |  |  | (1,798) |  |  |  |  |  |  |
Foreign exchange contracts | Cost of goods sold |  |  | 5,924 |  |  |  | (6,169) |  |  |  |  |  |  |
Foreign exchange contracts | Selling, general and administrative expenses |  |  | 1,609 |  |  |  | (917) |  |  |  |  |  |  |
Foreign exchange contracts | Other income (expense), net |  |  | 5,432 |  |  |  | (1,702) |  |  |  |  |  |  |
Interest rate contracts | Interest expense |  |  | 27 |  |  |  | 27 |  |  |  |  |  |  |
Total before tax |  |  |  | 8,242 |  |  |  | (10,559) |  |  |  |  |  |  |
Tax (expense) benefit |  |  |  | (1,273) |  |  |  | 443 |  |  |  |  |  |  |
Net of tax |  |  |  | 6,969 |  |  |  | (10,116) |  |  |  |  |  |  |
Total reclassifications for the period, net of tax |  |  | $ | (63,666) |  |  |  | $ | (12,843) |  |  |  |  |  |  |

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