XML 56 R36.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables) | 3 Months Ended
--- | ---
Jun. 29, 2024
Equity [Abstract] |
Schedule of Deferred Components of Other Comprehensive Income (Loss) Reported and Changes in Accumulated OCL | The deferred components of other comprehensive income (loss) are reported, net of related income taxes, in accumulated other comprehensive loss ("OCL") in stockholders’ equity, as follows:
(In thousands) |  | June 2024 |  |  | March 2024 |  | June 2023
Foreign currency translation and other |  | $ | (887,892) |  |  |  | $ | (868,439) |  |  | $ | (872,800) |
Defined benefit pension plans |  | (178,701) |  |  |  | (182,333) |  |  | (161,211) |
Derivative financial instruments |  | 12,966 |  |  |  | (13,559) |  |  | (19,518) |
Accumulated other comprehensive loss |  | $ | (1,053,627) |  |  |  | $ | (1,064,331) |  |  | $ | (1,053,529) |
The changes in accumulated OCL, net of related taxes, were as follows:
| Three Months Ended June 2024 |
(In thousands) | Foreign Currency Translation and Other |  | Defined Benefit Pension Plans |  | Derivative Financial Instruments |  | Total |
Balance, March 2024 | $ | (868,439) |  |  | $ | (182,333) |  |  | $ | (13,559) |  |  | $ | (1,064,331) |  |
Other comprehensive income (loss) before reclassifications | (19,453) |  |  | (10) |  |  | 15,785 |  |  | (3,678) |  |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 3,642 |  |  | 10,740 |  |  | 14,382 |  |
Net other comprehensive income (loss) | (19,453) |  |  | 3,632 |  |  | 26,525 |  |  | 10,704 |  |
Balance, June 2024 | $ | (887,892) |  |  | $ | (178,701) |  |  | $ | 12,966 |  |  | $ | (1,053,627) |  |
| 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) |  |
Schedule of Reclassifications Out of Accumulated OCL | 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
|  | 2024 |  |  | 2023 |  |  |  |  |  |
Amortization of defined benefit pension plans: |  |  |  |  |  |  |  |  |  |  |  |
Net deferred actuarial losses | Other income (expense), net |  |  | $ | (5,046) |  |  |  | $ | (4,232) |  |  |  |  |  |  |
Deferred prior service credits | Other income (expense), net |  |  | 144 |  |  |  | 135 |  |  |  |  |  |  |
Pension settlement charges | Other income (expense), net |  |  | — |  |  |  | (3,292) |  |  |  |  |  |  |
Total before tax |  |  |  | (4,902) |  |  |  | (7,389) |  |  |  |  |  |  |
Tax benefit |  |  |  | 1,260 |  |  |  | 1,996 |  |  |  |  |  |  |
Net of tax |  |  |  | (3,642) |  |  |  | (5,393) |  |  |  |  |  |  |
Gains (losses) on derivative financial instruments: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts | Net revenues |  |  | (4,331) |  |  |  | 1,090 |  |  |  |  |  |  |
Foreign exchange contracts | Cost of goods sold |  |  | (10,126) |  |  |  | 8,075 |  |  |  |  |  |  |
Foreign exchange contracts | Selling, general and administrative expenses |  |  | (408) |  |  |  | 1,301 |  |  |  |  |  |  |
Foreign exchange contracts | Other income (expense), net |  |  | (56) |  |  |  | (511) |  |  |  |  |  |  |
Interest rate contracts | Interest expense |  |  | 1,192 |  |  |  | 725 |  |  |  |  |  |  |
Total before tax |  |  |  | (13,729) |  |  |  | 10,680 |  |  |  |  |  |  |
Tax benefit (expense) |  |  |  | 2,989 |  |  |  | (1,939) |  |  |  |  |  |  |
Net of tax |  |  |  | (10,740) |  |  |  | 8,741 |  |  |  |  |  |  |
Total reclassifications for the period, net of tax |  |  | $ | (14,382) |  |  |  | $ | 3,348 |  |  |  |  |  |  |

X
- References No definition available. + Details
Name: | us-gaap_EquityAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of information about items reclassified out of accumulated other comprehensive income (loss). + References No definition available. + Details
Name: | us-gaap_ReclassificationOutOfAccumulatedOtherComprehensiveIncomeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of accumulated other comprehensive income (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 220 -SubTopic 10 -Section 45 -Paragraph 14A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482790/220-10-45-14A Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481674/830-30-50-1 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 830 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481694/830-30-45-20 + Details
Name: | us-gaap_ScheduleOfAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration