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

3 Months Ended

Jul. 03, 2021

Equity [Abstract]

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

(In thousands)	June 2021		March 2021		June 2020
Foreign currency translation and other	$	(663,120)	$	(700,173)	$	(685,236)
Defined benefit pension plans	(257,431)		(257,747)		(259,290)
Derivative financial instruments	(45,335)		(51,080)		46,985
Accumulated other comprehensive income (loss)	$	(965,886)	$	(1,009,000)	$	(897,541)

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

	Three Months Ended June 2021
(In thousands)	Foreign Currency Translation and Other		Defined Benefit Pension Plans		Derivative Financial Instruments		Total
Balance, March 2021	$	(700,173)	$	(257,747)	$	(51,080)	$	(1,009,000)
Other comprehensive income (loss) before reclassifications	37,053		(2,411)		(4,371)		30,271
Amounts reclassified from accumulated other comprehensive income (loss)	—		2,727		10,116		12,843
Net other comprehensive income (loss)	37,053		316		5,745		43,114
Balance, June 2021	$	(663,120)	$	(257,431)	$	(45,335)	$	(965,886)

	Three Months Ended June 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	10,109		987		(6,065)		5,031
Amounts reclassified from accumulated other comprehensive income (loss)	42,364		2,195		(16,173)		28,386
Net other comprehensive income (loss)	52,473		3,182		(22,238)		33,417
Balance, June 2020	$	(685,236)	$	(259,290)	$	46,985	$	(897,541)

Reclassifications Out of Accumulated OCI

Reclassifications out of accumulated OCI were as follows:

(In thousands)		Three Months Ended June
Details About Accumulated Other Comprehensive Income (Loss) Components	Affected Line Item in the Consolidated Statements of Operations
		2021		2020
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	(2,840)		(2,863)
Deferred prior service credits	Other income (expense), net	118		17
Pension settlement charge	Other income (expense), net	(948)		—
Total before tax		(3,670)		(2,846)
Tax benefit		943		651
Net of tax		(2,727)		(2,195)
Gains (losses) on derivative financial instruments:
Foreign exchange contracts	Net revenues	(1,798)		171
Foreign exchange contracts	Cost of goods sold	(6,169)		16,705
Foreign exchange contracts	Selling, general and administrative expenses	(917)		1,607
Foreign exchange contracts	Other income (expense), net	(1,702)		1,770
Interest rate contracts	Interest expense	27		27
Total before tax		(10,559)		20,280
Tax (expense) benefit		443		(4,107)
Net of tax		(10,116)		16,173
Total reclassifications for the period, net of tax		$	(12,843)	$	(28,386)