CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

3 Months Ended

Jul. 01, 2023

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

(In thousands)	June 2023		March 2023		June 2022
Foreign currency translation and other	$	(872,800)	$	(859,651)	$	(833,166)
Defined benefit pension plans	(161,211)		(167,692)		(174,139)
Derivative financial instruments	(19,518)		7,825		132,429
Accumulated other comprehensive loss	$	(1,053,529)	$	(1,019,518)	$	(874,876)

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

	Three Months Ended June 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	(13,149)		1,088		(18,602)		(30,663)
Amounts reclassified from accumulated other comprehensive loss	—		5,393		(8,741)		(3,348)
Net other comprehensive income (loss)	(13,149)		6,481		(27,343)		(34,011)
Balance, June 2023	$	(872,800)	$	(161,211)	$	(19,518)	$	(1,053,529)

	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 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)

Schedule of Reclassifications Out of Accumulated OCI

Reclassifications out of accumulated OCL were as follows:

(In thousands)		Three Months Ended June
Details About Accumulated Other Comprehensive Loss Components	Affected Line Item in the Consolidated Statements of Operations
		2023		2022
Amortization of defined benefit pension plans:
Net deferred actuarial losses	Other income (expense), net	$	(4,232)	$	(3,721)
Deferred prior service credits	Other income (expense), net	135		112
Pension settlement charges	Other income (expense), net	(3,292)		(91,761)
Total before tax		(7,389)		(95,370)
Tax benefit		1,996		24,735
Net of tax		(5,393)		(70,635)
Gains (losses) on derivative financial instruments:
Foreign exchange contracts	Net revenues	1,090		(3,534)
Foreign exchange contracts	Cost of goods sold	8,075		11,356
Foreign exchange contracts	Selling, general and administrative expenses	1,301		1,609
Foreign exchange contracts	Other income (expense), net	(511)		(1,216)
Interest rate contracts	Interest expense	725		27
Total before tax		10,680		8,242
Tax expense		(1,939)		(1,273)
Net of tax		8,741		6,969
Total reclassifications for the period, net of tax		$	3,348	$	(63,666)