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CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables) | 9 Months Ended
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Dec. 30, 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 other comprehensive income (loss) are reported, net of related income taxes, in accumulated OCL in stockholders’ equity, as follows:
(In thousands) |  | December 2023 |  |  | March 2023 |  | December 2022
Foreign currency translation and other |  | $ | (856,853) |  |  |  | $ | (859,651) |  |  | $ | (841,877) |
Defined benefit pension plans |  | (155,701) |  |  |  | (167,692) |  |  | (164,346) |
Derivative financial instruments |  | (38,819) |  |  |  | 7,825 |  |  | 76,635 |
Accumulated other comprehensive loss |  | $ | (1,051,373) |  |  |  | $ | (1,019,518) |  |  | $ | (929,588) |
The changes in accumulated OCL, net of related taxes, were as follows:
| Three Months Ended December 2023 |
(In thousands) | Foreign Currency Translation and Other |  | Defined Benefit Pension Plans |  | Derivative Financial Instruments |  | Total |
Balance, September 2023 | $ | (878,089) |  |  | $ | (155,638) |  |  | $ | 22,022 |  |  | $ | (1,011,705) |  |
Other comprehensive income (loss) before reclassifications | 21,236 |  |  | (3,002) |  |  | (61,585) |  |  | (43,351) |  |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 2,939 |  |  | 744 |  |  | 3,683 |  |
Net other comprehensive income (loss) | 21,236 |  |  | (63) |  |  | (60,841) |  |  | (39,668) |  |
Balance, December 2023 | $ | (856,853) |  |  | $ | (155,701) |  |  | $ | (38,819) |  |  | $ | (1,051,373) |  |
| Three Months Ended December 2022 |
(In thousands) | Foreign Currency Translation and Other |  | Defined Benefit Pension Plans |  | Derivative Financial Instruments |  | Total |
Balance, September 2022 | $ | (883,846) |  |  | $ | (166,545) |  |  | $ | 206,226 |  |  | $ | (844,165) |  |
Other comprehensive income (loss) before reclassifications | 41,969 |  |  | (850) |  |  | (101,665) |  |  | (60,546) |  |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 3,049 |  |  | (27,926) |  |  | (24,877) |  |
Net other comprehensive income (loss) | 41,969 |  |  | 2,199 |  |  | (129,591) |  |  | (85,423) |  |
Balance, December 2022 | $ | (841,877) |  |  | $ | (164,346) |  |  | $ | 76,635 |  |  | $ | (929,588) |  |
| Nine Months Ended December 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 | 2,798 |  |  | 762 |  |  | (30,144) |  |  | (26,584) |  |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 11,229 |  |  | (16,500) |  |  | (5,271) |  |
Net other comprehensive income (loss) | 2,798 |  |  | 11,991 |  |  | (46,644) |  |  | (31,855) |  |
Balance, December 2023 | $ | (856,853) |  |  | $ | (155,701) |  |  | $ | (38,819) |  |  | $ | (1,051,373) |  |
| Nine Months Ended December 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 | (90,245) |  |  | (11,226) |  |  | 68,719 |  |  | (32,752) |  |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 77,170 |  |  | (47,427) |  |  | 29,743 |  |
Net other comprehensive income (loss) | (90,245) |  |  | 65,944 |  |  | 21,292 |  |  | (3,009) |  |
Balance, December 2022 | $ | (841,877) |  |  | $ | (164,346) |  |  | $ | 76,635 |  |  | $ | (929,588) |  |
Schedule of Reclassifications Out of Accumulated OCI | Reclassifications out of accumulated OCL were as follows:
(In thousands) |  |  |  | Three Months Ended December |  |  | Nine Months Ended December
Details About Accumulated Other Comprehensive Loss Components | Affected Line Item in the Consolidated Statements of Operations
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022
Amortization of defined benefit pension plans: |  |  |  |  |  |  |  |  |  |  |  |
Net deferred actuarial losses | Other income (expense), net |  |  | $ | (4,106) |  |  |  | $ | (3,858) |  |  |  | $ | (12,508) |  |  |  | $ | (11,532) |
Deferred prior service credits | Other income (expense), net |  |  | 136 |  |  |  | 112 |  |  |  | 408 |  |  |  | 335 |
Pension settlement charges | Other income (expense), net |  |  | (131) |  |  |  | (695) |  |  |  | (3,430) |  |  |  | (93,597) |
Total before tax |  |  |  | (4,101) |  |  |  | (4,441) |  |  |  | (15,530) |  |  |  | (104,794) |
Tax benefit |  |  |  | 1,162 |  |  |  | 1,392 |  |  |  | 4,301 |  |  |  | 27,624 |
Net of tax |  |  |  | (2,939) |  |  |  | (3,049) |  |  |  | (11,229) |  |  |  | (77,170) |
Gains (losses) on derivative financial instruments: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts | Net revenues |  |  | (794) |  |  |  | 782 |  |  |  | (220) |  |  |  | (9,173) |
Foreign exchange contracts | Cost of goods sold |  |  | (2,697) |  |  |  | 33,816 |  |  |  | 14,777 |  |  |  | 68,830 |
Foreign exchange contracts | Selling, general and administrative expenses |  |  | 833 |  |  |  | 1,816 |  |  |  | 3,141 |  |  |  | 5,380 |
Foreign exchange contracts | Other income (expense), net |  |  | 536 |  |  |  | (3,536) |  |  |  | (725) |  |  |  | (9,065) |
Interest rate contracts | Interest expense |  |  | 1,210 |  |  |  | 27 |  |  |  | 3,033 |  |  |  | 81 |
Total before tax |  |  |  | (912) |  |  |  | 32,905 |  |  |  | 20,006 |  |  |  | 56,053 |
Tax expense |  |  |  | 168 |  |  |  | (4,979) |  |  |  | (3,506) |  |  |  | (8,626) |
Net of tax |  |  |  | (744) |  |  |  | 27,926 |  |  |  | 16,500 |  |  |  | 47,427 |
Total reclassifications for the period, net of tax |  |  | $ | (3,683) |  |  |  | $ | 24,877 |  |  |  | $ | 5,271 |  |  |  | $ | (29,743) |

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