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CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables) | 12 Months Ended
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Mar. 30, 2024
Equity [Abstract] |
Schedule of Deferred Components of OCI Reported, Net of Related Income Taxes, in Accumulated OCI in Stockholders' Equity and Changes in AOCI | The deferred components of other comprehensive income (loss) are reported, net of related income taxes, in accumulated OCL in stockholders’ equity, as follows:
(In thousands) |  | March 2024 |  |  | March 2023
Foreign currency translation and other |  | $ | (868,439) |  |  |  | $ | (859,651) |
Defined benefit pension plans |  | (182,333) |  |  |  | (167,692) |
Derivative financial instruments |  | (13,559) |  |  |  | 7,825 |
Accumulated other comprehensive loss |  | $ | (1,064,331) |  |  |  | $ | (1,019,518) |
The changes in accumulated OCL, net of related taxes, were as follows:
(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 | (51,459) |  |  | 13,547 |  |  | 59,753 |  |  |  |  | 21,841 |  |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 13,910 |  |  | 46,670 |  |  |  |  | 60,580 |  |
Net other comprehensive income (loss) | (51,459) |  |  | 27,457 |  |  | 106,423 |  |  |  |  | 82,421 |  |
Balance, March 2022 | (751,632) |  |  | (230,290) |  |  | 55,343 |  |  |  |  | (926,579) |  |
Other comprehensive income (loss) before reclassifications | (108,019) |  |  | (18,596) |  |  | 44,979 |  |  |  |  | (81,636) |  |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 81,194 |  |  | (92,497) |  |  |  |  | (11,303) |  |
Net other comprehensive income (loss) | (108,019) |  |  | 62,598 |  |  | (47,518) |  |  |  |  | (92,939) |  |
Balance, March 2023 | (859,651) |  |  | (167,692) |  |  | 7,825 |  |  |  |  | (1,019,518) |  |
Other comprehensive income (loss) before reclassifications | (8,788) |  |  | (28,939) |  |  | (6,443) |  |  |  |  | (44,170) |  |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 14,298 |  |  | (14,941) |  |  |  |  | (643) |  |
Net other comprehensive income (loss) | (8,788) |  |  | (14,641) |  |  | (21,384) |  |  |  |  | (44,813) |  |
Balance, March 2024 | $ | (868,439) |  |  | $ | (182,333) |  |  | $ | (13,559) |  |  |  |  | $ | (1,064,331) |  |
Schedule of Reclassifications Out of Accumulated OCI | Reclassifications out of accumulated OCL were as follows:
(In thousands) | Affected Line Item in the Consolidated Statements of Operations |  |  | Year Ended March |  |  |  |  |  |
Details About Accumulated Other Comprehensive Loss Components |  |  |  |  |  |  |  |
|  | 2024 |  |  | 2023 |  | 2022 |  |  |  |  |  |
Amortization of defined benefit pension plans: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Net deferred actuarial losses | Other income (expense), net |  |  | $ | (16,195) |  |  |  | $ | (16,395) |  |  | $ | (11,310) |  |  |  |  |  |  |
Deferred prior service credits | Other income (expense), net |  |  | 80 |  |  |  | 453 |  |  | 440 |  |  |  |  |  |  |
Pension settlement charges | Other income (expense), net |  |  | (3,538) |  |  |  | (93,731) |  |  | (7,466) |  |  |  |  |  |  |
Total before tax |  |  |  | (19,653) |  |  |  | (109,673) |  |  | (18,336) |  |  |  |  |  |  |
Tax benefit |  |  |  | 5,355 |  |  |  | 28,479 |  |  | 4,426 |  |  |  |  |  |  |
Net of tax |  |  |  | (14,298) |  |  |  | (81,194) |  |  | (13,910) |  |  |  |  |  |  |
Gains (losses) on derivative financial instruments: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts | Net revenues |  |  | (5,004) |  |  |  | (6,843) |  |  | (27,382) |  |  |  |  |  |  |
Foreign exchange contracts | Cost of goods sold |  |  | 15,703 |  |  |  | 120,438 |  |  | (26,346) |  |  |  |  |  |  |
Foreign exchange contracts | Selling, general and administrative expenses |  |  | 3,437 |  |  |  | 6,695 |  |  | (487) |  |  |  |  |  |  |
Foreign exchange contracts | Other income (expense), net |  |  | (253) |  |  |  | (10,365) |  |  | (219) |  |  |  |  |  |  |
Interest rate contracts | Interest expense |  |  | 4,238 |  |  |  | 235 |  |  | 108 |  |  |  |  |  |  |
Total before tax |  |  |  | 18,121 |  |  |  | 110,160 |  |  | (54,326) |  |  |  |  |  |  |
Tax (expense) benefit |  |  |  | (3,180) |  |  |  | (17,663) |  |  | 7,656 |  |  |  |  |  |  |
Net of tax |  |  |  | 14,941 |  |  |  | 92,497 |  |  | (46,670) |  |  |  |  |  |  |
Total reclassifications for the period, net of tax |  |  | $ | 643 |  |  |  | $ | 11,303 |  |  | $ | (60,580) |  |  |  |  |  |  |

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