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CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables) | 3 Months Ended
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Jul. 01, 2023
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 OCL are reported, net of related income taxes, in accumulated OCL in stockholders’ equity, as follows:
(In thousands) |  | June 2023 |  |  | March 2023 |  | June 2022
Foreign currency translation and other |  | $ | (872,800) |  |  |  | $ | (859,651) |  |  | $ | (833,166) |
Defined benefit pension plans |  | (161,211) |  |  |  | (167,692) |  |  | (174,139) |
Derivative financial instruments |  | (19,518) |  |  |  | 7,825 |  |  | 132,429 |
Accumulated other comprehensive loss |  | $ | (1,053,529) |  |  |  | $ | (1,019,518) |  |  | $ | (874,876) |
The changes in accumulated OCL, net of related taxes, were as follows:
| Three Months Ended June 2023 |
(In thousands) | Foreign Currency Translation and Other |  | Defined Benefit Pension Plans |  | Derivative Financial Instruments |  | Total |
Balance, March 2023 | $ | (859,651) |  |  | $ | (167,692) |  |  | $ | 7,825 |  |  | $ | (1,019,518) |  |
Other comprehensive income (loss) before reclassifications | (13,149) |  |  | 1,088 |  |  | (18,602) |  |  | (30,663) |  |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 5,393 |  |  | (8,741) |  |  | (3,348) |  |
Net other comprehensive income (loss) | (13,149) |  |  | 6,481 |  |  | (27,343) |  |  | (34,011) |  |
Balance, June 2023 | $ | (872,800) |  |  | $ | (161,211) |  |  | $ | (19,518) |  |  | $ | (1,053,529) |  |
| 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 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) |  |
Schedule of Reclassifications Out of Accumulated OCI | Reclassifications out of accumulated OCL were as follows:
(In thousands) |  |  |  | Three Months Ended June |  |  |
Details About Accumulated Other Comprehensive Loss Components | Affected Line Item in the Consolidated Statements of Operations
|  | 2023 |  |  | 2022 |  |  |  |  |  |
Amortization of defined benefit pension plans: |  |  |  |  |  |  |  |  |  |  |  |
Net deferred actuarial losses | Other income (expense), net |  |  | $ | (4,232) |  |  |  | $ | (3,721) |  |  |  |  |  |  |
Deferred prior service credits | Other income (expense), net |  |  | 135 |  |  |  | 112 |  |  |  |  |  |  |
Pension settlement charges | Other income (expense), net |  |  | (3,292) |  |  |  | (91,761) |  |  |  |  |  |  |
Total before tax |  |  |  | (7,389) |  |  |  | (95,370) |  |  |  |  |  |  |
Tax benefit |  |  |  | 1,996 |  |  |  | 24,735 |  |  |  |  |  |  |
Net of tax |  |  |  | (5,393) |  |  |  | (70,635) |  |  |  |  |  |  |
Gains (losses) on derivative financial instruments: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts | Net revenues |  |  | 1,090 |  |  |  | (3,534) |  |  |  |  |  |  |
Foreign exchange contracts | Cost of goods sold |  |  | 8,075 |  |  |  | 11,356 |  |  |  |  |  |  |
Foreign exchange contracts | Selling, general and administrative expenses |  |  | 1,301 |  |  |  | 1,609 |  |  |  |  |  |  |
Foreign exchange contracts | Other income (expense), net |  |  | (511) |  |  |  | (1,216) |  |  |  |  |  |  |
Interest rate contracts | Interest expense |  |  | 725 |  |  |  | 27 |  |  |  |  |  |  |
Total before tax |  |  |  | 10,680 |  |  |  | 8,242 |  |  |  |  |  |  |
Tax expense |  |  |  | (1,939) |  |  |  | (1,273) |  |  |  |  |  |  |
Net of tax |  |  |  | 8,741 |  |  |  | 6,969 |  |  |  |  |  |  |
Total reclassifications for the period, net of tax |  |  | $ | 3,348 |  |  |  | $ | (63,666) |  |  |  |  |  |  |

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