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OTHER LIABILITIES
 12 Months Ended
Apr. 03, 2021
Other Liabilities Disclosure [Abstract]  
OTHER LIABILITIES OTHER LIABILITIES
(In thousands)March 2021March 2020
Deferred income taxes (Note 19)$342,712 $161,371 
Deferred compensation (Note 16)139,750 104,510 
Income taxes553,684 578,298 
Contingent consideration (Note 3)207,000 — 
Pension liabilities (Note 16)166,750 170,507 
Product warranty claims48,691 47,534 
Derivative financial instruments (Note 24)7,904 3,153 
Other75,287 57,740 
Other liabilities$1,541,778 $1,123,113 
 
VF accrues warranty costs at the time revenue is recognized. Product warranty costs are estimated based on historical experience and specific identification of the product requirements, which may fluctuate based on product mix. Activity relating to accrued product warranty claims is summarized as follows:
Year Ended March
(In thousands)202120202019
Balance, beginning of year$60,124 $61,919 $62,551 
Accrual for products sold during the year13,844 11,283 13,082 
Repair or replacement costs incurred(12,386)(11,079)(12,778)
Currency translation505 (1,999)(936)
Balance, end of year62,087 60,124 61,919 
Less current portion (Note 13)13,396 12,590 12,618 
Long-term portion$48,691 $47,534 $49,301