CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

9 Months Ended

Dec. 28, 2024

Schedule of Deferred Components of Other Comprehensive Income (Loss) Reported and Changes in Accumulated OCL

The deferred components of other comprehensive income (loss) are reported, net of related income taxes, in accumulated other comprehensive loss ("OCL") in stockholders’ equity, as follows:


(In thousands)	December 2024		March 2024		December 2023
Foreign currency translation and other	$	(846,574)	$	(868,439)	$	(856,853)
Defined benefit pension plans	(171,993)		(182,333)		(155,701)
Derivative financial instruments	67,082		(13,559)		(38,819)
Accumulated other comprehensive loss	$	(951,485)	$	(1,064,331)	$	(1,051,373)

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


	Three Months Ended December 2024
(In thousands)	Foreign Currency Translation and Other		Defined Benefit Pension Plans		Derivative Financial Instruments		Total
Balance, September 2024	$	(869,994)	$	(175,087)	$	(25,499)	$	(1,070,580)
Other comprehensive income (loss) before reclassifications	(51,873)		(99)		88,068		36,096
Amounts reclassified from accumulated other comprehensive loss	75,293		3,193		4,513		82,999
Net other comprehensive income	23,420		3,094		92,581		119,095
Balance, December 2024	$	(846,574)	$	(171,993)	$	67,082	$	(951,485)


	Three Months Ended December 2023
(In thousands)	Foreign Currency Translation and Other		Defined Benefit Pension Plans		Derivative Financial Instruments		Total
Balance, September 2023	$	(878,089)	$	(155,638)	$	22,022	$	(1,011,705)
Other comprehensive income (loss) before reclassifications	21,236		(3,002)		(61,585)		(43,351)
Amounts reclassified from accumulated other comprehensive loss	—		2,939		744		3,683
Net other comprehensive income (loss)	21,236		(63)		(60,841)		(39,668)
Balance, December 2023	$	(856,853)	$	(155,701)	$	(38,819)	$	(1,051,373)


	Nine Months Ended December 2024
(In thousands)	Foreign Currency Translation and Other		Defined Benefit Pension Plans		Derivative Financial Instruments		Total
Balance, March 2024	$	(868,439)	$	(182,333)	$	(13,559)	$	(1,064,331)
Other comprehensive income (loss) before reclassifications	(53,428)		(135)		56,015		2,452
Amounts reclassified from accumulated other comprehensive loss	75,293		10,475		24,626		110,394
Net other comprehensive income	21,865		10,340		80,641		112,846
Balance, December 2024	$	(846,574)	$	(171,993)	$	67,082	$	(951,485)


	Nine Months Ended December 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	2,798		762		(30,144)		(26,584)
Amounts reclassified from accumulated other comprehensive loss	—		11,229		(16,500)		(5,271)
Net other comprehensive income (loss)	2,798		11,991		(46,644)		(31,855)
Balance, December 2023	$	(856,853)	$	(155,701)	$	(38,819)	$	(1,051,373)

Schedule of Reclassifications Out of Accumulated OCL

Reclassifications out of accumulated OCL were as follows:


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

		2024		2023		2024		2023
Losses on foreign currency translation and other:
Sale of Supreme	Income (loss) from discontinued operations, net of tax (a)	$	(75,293)	$	—	$	(75,293)	$	—
Total before tax		(75,293)		—		(75,293)		—
Tax benefit (expense)		—		—		—		—
Net of tax		(75,293)		—		(75,293)		—
Amortization of defined benefit pension plans:
Net deferred actuarial losses	Other income (expense), net	(5,049)		(4,106)		(15,146)		(12,508)
Deferred prior service credits	Other income (expense), net	148		136		442		408

Pension curtailment gains and settlement charges	Other income (expense), net	638		(131)		638		(3,430)
Total before tax		(4,263)		(4,101)		(14,066)		(15,530)
Tax benefit		1,070		1,162		3,591		4,301
Net of tax		(3,193)		(2,939)		(10,475)		(11,229)
Gains (losses) on derivative financial instruments:
Foreign exchange contracts	Net revenues	(9,580)		(794)		(21,762)		(220)
Foreign exchange contracts	Cost of goods sold	4,648		(2,697)		(9,479)		14,777
Foreign exchange contracts	SG&A expenses	166		833		(289)		3,141
Foreign exchange contracts	Other income (expense), net	(970)		536		(973)		(725)
Interest rate contracts	Interest expense	364		27		418		81
Interest rate contracts	Income (loss) from discontinued operations, net of tax	—		1,183		2,299		2,952
Total before tax		(5,372)		(912)		(29,786)		20,006
Tax benefit (expense)		859		168		5,160		(3,506)
Net of tax		(4,513)		(744)		(24,626)		16,500
Total reclassifications for the period, net of tax		$	(82,999)	$	(3,683)	$	(110,394)	$	5,271

(a)Foreign currency translation losses related to Supreme were included in the carrying value of the disposal group used in determining the estimated loss on sale recorded during the second quarter of Fiscal 2025. Upon completion of the sale of Supreme on October 1, 2024, these amounts were reclassified out of accumulated OCL into the income (loss) from discontinued operations, net of tax line item in the Consolidated Statements of Operations for the three and nine months ended December 2024 and offset against the derecognition of the previously recorded allowance on the disposal group.