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

3 Months Ended

Jul. 02, 2022

Equity [Abstract]

Schedule of 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 2022		March 2022		June 2021
Foreign currency translation and other	$	(833,166)	$	(751,632)	$	(663,120)
Defined benefit pension plans	(174,139)		(230,290)		(257,431)
Derivative financial instruments	132,429		55,343		(45,335)
Accumulated other comprehensive income (loss)	$	(874,876)	$	(926,579)	$	(965,886)

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

	Three Months Ended June 2022
(In thousands)	Foreign Currency Translation and Other		Defined Benefit Pension Plans		Derivative Financial Instruments		Total
Balance, March 2022	$	(751,632)	$	(230,290)	$	55,343	$	(926,579)
Other comprehensive income (loss) before reclassifications	(81,534)		(14,484)		84,055		(11,963)
Amounts reclassified from accumulated other comprehensive income (loss)	—		70,635		(6,969)		63,666
Net other comprehensive income (loss)	(81,534)		56,151		77,086		51,703
Balance, June 2022	$	(833,166)	$	(174,139)	$	132,429	$	(874,876)

	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)

Schedule of 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
		2022		2021
Amortization of defined benefit pension plans:
Net deferred actuarial losses	Other income (expense), net	$	(3,721)	$	(2,840)
Deferred prior service credits	Other income (expense), net	112		118
Pension settlement charges	Other income (expense), net	(91,761)		(948)
Total before tax		(95,370)		(3,670)
Tax benefit		24,735		943
Net of tax		(70,635)		(2,727)
Gains (losses) on derivative financial instruments:
Foreign exchange contracts	Net revenues	(4,750)		(1,798)
Foreign exchange contracts	Cost of goods sold	5,924		(6,169)
Foreign exchange contracts	Selling, general and administrative expenses	1,609		(917)
Foreign exchange contracts	Other income (expense), net	5,432		(1,702)
Interest rate contracts	Interest expense	27		27
Total before tax		8,242		(10,559)
Tax (expense) benefit		(1,273)		443
Net of tax		6,969		(10,116)
Total reclassifications for the period, net of tax		$	(63,666)	$	(12,843)