CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

6 Months Ended

Sep. 26, 2020

The deferred components of OCI are reported, net of related income taxes, in accumulated OCI in stockholders’ equity, as follows:


(In thousands)	September 2020		March 2020		September 2019
Foreign currency translation and other	$	(700,137)	$	(737,709)	$	(715,286)
Defined benefit pension plans	(264,304)		(262,472)		(298,326)
Derivative financial instruments	4,783		69,223		82,887
Accumulated other comprehensive income (loss)	$	(959,658)	$	(930,958)	$	(930,725)

The changes in accumulated OCI, net of related taxes, were as follows:


	Three Months Ended September 2020
(In thousands)	Foreign Currency Translation and Other		Defined Benefit Pension Plans		Derivative Financial Instruments		Total
Balance, June 2020	$	(685,236)	$	(259,290)	$	46,985	$	(897,541)

Other comprehensive income (loss) before reclassifications	(14,901)		(7,629)		(32,534)		(55,064)
Amounts reclassified from accumulated other comprehensive income (loss)	—		2,615		(9,668)		(7,053)
Net other comprehensive income (loss)	(14,901)		(5,014)		(42,202)		(62,117)
Balance, September 2020	$	(700,137)	$	(264,304)	$	4,783	$	(959,658)


	Three Months Ended September 2019
(In thousands)	Foreign Currency Translation and Other		Defined Benefit Pension Plans		Derivative Financial Instruments		Total
Balance, June 2019	$	(635,901)	$	(290,468)	$	58,983	$	(867,386)

Other comprehensive income (loss) before reclassifications	(79,385)		(10,896)		44,348		(45,933)
Amounts reclassified from accumulated other comprehensive income (loss)	—		3,038		(20,444)		(17,406)

Net other comprehensive income (loss)	(79,385)		(7,858)		23,904		(63,339)
Balance, September 2019	$	(715,286)	$	(298,326)	$	82,887	$	(930,725)


	Six Months Ended September 2020
(In thousands)	Foreign Currency Translation and Other		Defined Benefit Pension Plans		Derivative Financial Instruments		Total
Balance, March 2020	$	(737,709)	$	(262,472)	$	69,223	$	(930,958)

Other comprehensive income (loss) before reclassifications	(4,792)		(6,642)		(38,599)		(50,033)
Amounts reclassified from accumulated other comprehensive income (loss)	42,364		4,810		(25,841)		21,333
Net other comprehensive income (loss)	37,572		(1,832)		(64,440)		(28,700)
Balance, September 2020	$	(700,137)	$	(264,304)	$	4,783	$	(959,658)


	Six Months Ended September 2019
(In thousands)	Foreign Currency Translation and Other		Defined Benefit Pension Plans		Derivative Financial Instruments		Total
Balance, March 2019	$	(725,679)	$	(243,184)	$	66,788	$	(902,075)
Adoption of new accounting standard, ASU 2018-02	(9,088)		(50,402)		(2,371)		(61,861)
Other comprehensive income (loss) before reclassifications	(63,613)		(11,719)		55,248		(20,084)
Amounts reclassified from accumulated other comprehensive income (loss)	—		6,185		(28,183)		(21,998)
Spin-off of Jeans Business	83,094		794		(8,595)		75,293
Net other comprehensive income (loss)	10,393		(55,142)		16,099		(28,650)
Balance, September 2019	$	(715,286)	$	(298,326)	$	82,887	$	(930,725)

Reclassifications out of accumulated OCI were as follows:


(In thousands)		Three Months Ended September				Six Months Ended September
Details About Accumulated Other Comprehensive Income (Loss) Components	Affected Line Item in the Consolidated Statements of Operations

		2020		2019		2020		2019
Losses on foreign currency translation and other:
Liquidation of foreign entities	Other income (expense), net	$	—	$	—	$	(42,364)	$	—
Total before tax		—		—		(42,364)		—
Tax (expense) benefit		—		—		—		—
Net of tax		—		—		(42,364)		—
Amortization of defined benefit pension plans:
Net deferred actuarial losses	Other income (expense), net	(2,898)		(4,014)		(5,761)		(8,033)
Deferred prior service (costs) credits	Other income (expense), net	17		(12)		34		(25)

Pension settlement charges	Other income (expense), net	(572)		(519)		(572)		(519)
Total before tax		(3,453)		(4,545)		(6,299)		(8,577)
Tax benefit		838		1,507		1,489		2,392
Net of tax		(2,615)		(3,038)		(4,810)		(6,185)
Gains (losses) on derivative financial instruments:
Foreign exchange contracts	Net revenues	2,135		(2,814)		2,306		(5,719)
Foreign exchange contracts	Cost of goods sold	8,443		22,727		25,148		33,832
Foreign exchange contracts	Selling, general and administrative expenses	741		1,382		2,348		2,098
Foreign exchange contracts	Other income (expense), net	33		3,696		1,803		6,568
Interest rate contracts	Interest expense	27		(1,303)		54		(2,596)
Total before tax		11,379		23,688		31,659		34,183
Tax expense		(1,711)		(3,244)		(5,818)		(6,000)
Net of tax		9,668		20,444		25,841		28,183
Total reclassifications for the period, net of tax		$	7,053	$	17,406	$	(21,333)	$	21,998