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CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 6 Months Ended
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Oct. 01, 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) |  | September 2022 |  |  | March 2022 |  | September 2021
Foreign currency translation and other |  | $ | (883,846) |  |  |  | $ | (751,632) |  |  | $ | (687,120) |
Defined benefit pension plans |  | (166,545) |  |  |  | (230,290) |  |  | (255,635) |
Derivative financial instruments |  | 206,226 |  |  |  | 55,343 |  |  | 1,921 |
Accumulated other comprehensive income (loss) |  | $ | (844,165) |  |  |  | $ | (926,579) |  |  | $ | (940,834) |
The changes in accumulated OCI, net of related taxes, were as follows:
| Three Months Ended September 2022 |
(In thousands) | Foreign Currency Translation and Other |  | Defined Benefit Pension Plans |  | Derivative Financial Instruments |  | Total |
Balance, June 2022 | $ | (833,166) |  |  | $ | (174,139) |  |  | $ | 132,429 |  |  | $ | (874,876) |  |
Other comprehensive income (loss) before reclassifications | (50,680) |  |  | 4,108 |  |  | 86,329 |  |  | 39,757 |  |
Amounts reclassified from accumulated other comprehensive income (loss) | — |  |  | 3,486 |  |  | (12,532) |  |  | (9,046) |  |
Net other comprehensive income (loss) | (50,680) |  |  | 7,594 |  |  | 73,797 |  |  | 30,711 |  |
Balance, September 2022 | $ | (883,846) |  |  | $ | (166,545) |  |  | $ | 206,226 |  |  | $ | (844,165) |  |
| Three Months Ended September 2021 |
(In thousands) | Foreign Currency Translation and Other |  | Defined Benefit Pension Plans |  | Derivative Financial Instruments |  | Total |
Balance, June 2021 | $ | (663,120) |  |  | $ | (257,431) |  |  | $ | (45,335) |  |  | $ | (965,886) |  |
Other comprehensive income (loss) before reclassifications | (24,000) |  |  | (327) |  |  | 28,383 |  |  | 4,056 |  |
Amounts reclassified from accumulated other comprehensive income (loss) | — |  |  | 2,123 |  |  | 18,873 |  |  | 20,996 |  |
Net other comprehensive income (loss) | (24,000) |  |  | 1,796 |  |  | 47,256 |  |  | 25,052 |  |
Balance, September 2021 | $ | (687,120) |  |  | $ | (255,635) |  |  | $ | 1,921 |  |  | $ | (940,834) |  |
| Six Months Ended September 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 | (132,214) |  |  | (10,376) |  |  | 170,384 |  |  | 27,794 |  |
Amounts reclassified from accumulated other comprehensive income (loss) | — |  |  | 74,121 |  |  | (19,501) |  |  | 54,620 |  |
Net other comprehensive income (loss) | (132,214) |  |  | 63,745 |  |  | 150,883 |  |  | 82,414 |  |
Balance, September 2022 | $ | (883,846) |  |  | $ | (166,545) |  |  | $ | 206,226 |  |  | $ | (844,165) |  |
| Six Months Ended September 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 | 13,053 |  |  | (2,738) |  |  | 24,012 |  |  | 34,327 |  |
Amounts reclassified from accumulated other comprehensive income (loss) | — |  |  | 4,850 |  |  | 28,989 |  |  | 33,839 |  |
Net other comprehensive income (loss) | 13,053 |  |  | 2,112 |  |  | 53,001 |  |  | 68,166 |  |
Balance, September 2021 | $ | (687,120) |  |  | $ | (255,635) |  |  | $ | 1,921 |  |  | $ | (940,834) |  |
Schedule of Reclassifications Out of Accumulated OCI | Reclassifications out of accumulated OCI were as follows:
(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
|  | 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021
Amortization of defined benefit pension plans: |  |  |  |  |  |  |  |  |  |  |  |
Net deferred actuarial losses | Other income (expense), net |  |  | $ | (3,953) |  |  |  | $ | (2,871) |  |  |  | $ | (7,674) |  |  |  | $ | (5,711) |
Deferred prior service credits | Other income (expense), net |  |  | 111 |  |  |  | 117 |  |  |  | 223 |  |  |  | 235 |
Pension settlement charges | Other income (expense), net |  |  | (1,141) |  |  |  | (76) |  |  |  | (92,902) |  |  |  | (1,024) |
Total before tax |  |  |  | (4,983) |  |  |  | (2,830) |  |  |  | (100,353) |  |  |  | (6,500) |
Tax benefit |  |  |  | 1,497 |  |  |  | 707 |  |  |  | 26,232 |  |  |  | 1,650 |
Net of tax |  |  |  | (3,486) |  |  |  | (2,123) |  |  |  | (74,121) |  |  |  | (4,850) |
Gains (losses) on derivative financial instruments: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts | Net revenues |  |  | (10,734) |  |  |  | (4,963) |  |  |  | (15,484) |  |  |  | (6,761) |
Foreign exchange contracts | Cost of goods sold |  |  | 11,837 |  |  |  | (16,501) |  |  |  | 17,761 |  |  |  | (22,670) |
Foreign exchange contracts | Selling, general and administrative expenses |  |  | 1,955 |  |  |  | (189) |  |  |  | 3,564 |  |  |  | (1,106) |
Foreign exchange contracts | Other income (expense), net |  |  | 11,821 |  |  |  | (1,360) |  |  |  | 17,253 |  |  |  | (3,062) |
Interest rate contracts | Interest expense |  |  | 27 |  |  |  | 27 |  |  |  | 54 |  |  |  | 54 |
Total before tax |  |  |  | 14,906 |  |  |  | (22,986) |  |  |  | 23,148 |  |  |  | (33,545) |
Tax (expense) benefit |  |  |  | (2,374) |  |  |  | 4,113 |  |  |  | (3,647) |  |  |  | 4,556 |
Net of tax |  |  |  | 12,532 |  |  |  | (18,873) |  |  |  | 19,501 |  |  |  | (28,989) |
Total reclassifications for the period, net of tax |  |  | $ | 9,046 |  |  |  | $ | (20,996) |  |  |  | $ | (54,620) |  |  |  | $ | (33,839) |

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