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CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables) | 6 Months Ended
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Sep. 28, 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 accu mulated other comprehensive loss ("OC L") in stockholders’ equity, as follows:
(In thousands) |  | September 2024 |  |  | March 2024 |  | September 2023
Foreign currency translation and other |  | $ | (869,994) |  |  |  | $ | (868,439) |  |  | $ | (878,089) |
Defined benefit pension plans |  | (175,087) |  |  |  | (182,333) |  |  | (155,638) |
Derivative financial instruments |  | (25,499) |  |  |  | (13,559) |  |  | 22,022 |
Accumulated other comprehensive loss |  | $ | (1,070,580) |  |  |  | $ | (1,064,331) |  |  | $ | (1,011,705) |
The changes in accumulated OCL, ne t of related taxes, were as follows:
| Three Months Ended September 2024 |
(In thousands) | Foreign Currency Translation and Other |  | Defined Benefit Pension Plans |  | Derivative Financial Instruments |  | Total |
Balance, June 2024 | $ | (887,892) |  |  | $ | (178,701) |  |  | $ | 12,966 |  |  | $ | (1,053,627) |  |
Other comprehensive income (loss) before reclassifications | 17,898 |  |  | (26) |  |  | (47,838) |  |  | (29,966) |  |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 3,640 |  |  | 9,373 |  |  | 13,013 |  |
Net other comprehensive income (loss) | 17,898 |  |  | 3,614 |  |  | (38,465) |  |  | (16,953) |  |
Balance, September 2024 | $ | (869,994) |  |  | $ | (175,087) |  |  | $ | (25,499) |  |  | $ | (1,070,580) |  |
| Three Months Ended September 2023 |
(In thousands) | Foreign Currency Translation and Other |  | Defined Benefit Pension Plans |  | Derivative Financial Instruments |  | Total |
Balance, June 2023 | $ | (872,800) |  |  | $ | (161,211) |  |  | $ | (19,518) |  |  | $ | (1,053,529) |  |
Other comprehensive income (loss) before reclassifications | (5,289) |  |  | 2,676 |  |  | 50,043 |  |  | 47,430 |  |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 2,897 |  |  | (8,503) |  |  | (5,606) |  |
Net other comprehensive income (loss) | (5,289) |  |  | 5,573 |  |  | 41,540 |  |  | 41,824 |  |
Balance, September 2023 | $ | (878,089) |  |  | $ | (155,638) |  |  | $ | 22,022 |  |  | $ | (1,011,705) |  |
| Six Months Ended September 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 loss before reclassifications | (1,555) |  |  | (36) |  |  | (32,053) |  |  | (33,644) |  |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 7,282 |  |  | 20,113 |  |  | 27,395 |  |
Net other comprehensive income (loss) | (1,555) |  |  | 7,246 |  |  | (11,940) |  |  | (6,249) |  |
Balance, September 2024 | $ | (869,994) |  |  | $ | (175,087) |  |  | $ | (25,499) |  |  | $ | (1,070,580) |  |
| Six Months Ended September 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 | (18,438) |  |  | 3,764 |  |  | 31,441 |  |  | 16,767 |  |
Amounts reclassified from accumulated other comprehensive loss | — |  |  | 8,290 |  |  | (17,244) |  |  | (8,954) |  |
Net other comprehensive income (loss) | (18,438) |  |  | 12,054 |  |  | 14,197 |  |  | 7,813 |  |
Balance, September 2023 | $ | (878,089) |  |  | $ | (155,638) |  |  | $ | 22,022 |  |  | $ | (1,011,705) |  |
Schedule of Reclassifications Out of Accumulated OCL | Reclassifications out of accumulated OCL were as follows:
(In thousands) |  |  |  | Three Months Ended September |  |  | Six Months Ended September
Details About Accumulated Other Comprehensive Loss Components | Affected Line Item in the Consolidated Statements of Operations
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023
Amortization of defined benefit pension plans: |  |  |  |  |  |  |  |  |  |  |  |
Net deferred actuarial losses | Other income (expense), net |  |  | $ | (5,051) |  |  |  | $ | (4,170) |  |  |  | $ | (10,097) |  |  |  | $ | (8,402) |
Deferred prior service credits | Other income (expense), net |  |  | 150 |  |  |  | 137 |  |  |  | 294 |  |  |  | 272 |
Pension settlement charges | Other income (expense), net |  |  | — |  |  |  | (7) |  |  |  | — |  |  |  | (3,299) |
Total before tax |  |  |  | (4,901) |  |  |  | (4,040) |  |  |  | (9,803) |  |  |  | (11,429) |
Tax benefit |  |  |  | 1,261 |  |  |  | 1,143 |  |  |  | 2,521 |  |  |  | 3,139 |
Net of tax |  |  |  | (3,640) |  |  |  | (2,897) |  |  |  | (7,282) |  |  |  | (8,290) |
Gains (losses) on derivative financial instruments: |  |  |  |  |  |  |  |  |  |  |  |
Foreign exchange contracts | Net revenues |  |  | (7,851) |  |  |  | (516) |  |  |  | (12,182) |  |  |  | 574 |
Foreign exchange contracts | Cost of goods sold |  |  | (4,001) |  |  |  | 9,399 |  |  |  | (14,127) |  |  |  | 17,474 |
Foreign exchange contracts | Selling, general and administrative expenses |  |  | (47) |  |  |  | 1,007 |  |  |  | (455) |  |  |  | 2,308 |
Foreign exchange contracts | Other income (expense), net |  |  | 53 |  |  |  | (750) |  |  |  | (3) |  |  |  | (1,261) |
Interest rate contracts | Interest expense |  |  | 27 |  |  |  | 27 |  |  |  | 54 |  |  |  | 54 |
Interest rate contracts | Income (loss) from discontinued operations, net of tax |  |  | 1,134 |  |  |  | 1,071 |  |  |  | 2,299 |  |  |  | 1,769 |
Total before tax |  |  |  | (10,685) |  |  |  | 10,238 |  |  |  | (24,414) |  |  |  | 20,918 |
Tax benefit (expense) |  |  |  | 1,312 |  |  |  | (1,735) |  |  |  | 4,301 |  |  |  | (3,674) |
Net of tax |  |  |  | (9,373) |  |  |  | 8,503 |  |  |  | (20,113) |  |  |  | 17,244 |
Total reclassifications for the period, net of tax |  |  | $ | (13,013) |  |  |  | $ | 5,606 |  |  |  | $ | (27,395) |  |  |  | $ | 8,954 |

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