XML 46 R34.htm IDEA: XBRL DOCUMENT v3.3.1.900
Accumulated Other Comprehensive Income (Tables)
9 Months Ended
Dec. 26, 2015
Equity [Abstract]  
Changes in Components of Accumulated Other Comprehensive Income, Net of Taxes
The following table details changes in the components of accumulated other comprehensive income, net of taxes for the nine month periods ended December 26, 2015 and December 27, 2014, respectively (in thousands):
 
Foreign Currency
Translation
(Losses) Gains
 
Net Gains
(Losses) on
Derivatives (1)
 
Total
Accumulated Other
Comprehensive
(Loss) Income
Balance at March 29, 2014
$
(4,775
)
 
$
(1,598
)
 
$
(6,373
)
Other comprehensive (loss) income before reclassifications
(46,824
)
 
13,891

 
(32,933
)
Less: net gains reclassified from AOCI to earnings (2)

 
564

 
564

Other comprehensive (loss) income net of tax
(46,824
)
 
13,327

 
(33,497
)
Balance at December 27, 2014
$
(51,599
)
 
$
11,729

 
$
(39,870
)
 
 
 
 
 
 
Balance at March 28, 2015
$
(96,068
)
 
$
29,264

 
$
(66,804
)
Other comprehensive loss before reclassifications
(7,771
)
 
(15,933
)
 
(23,704
)
Less: net gains reclassified from AOCI to earnings (2)

 
7,367

 
7,367

Other comprehensive loss, net of tax
(7,771
)
 
(23,300
)
 
(31,071
)
Balance at December 26, 2015
$
(103,839
)
 
$
5,964

 
$
(97,875
)
Less: other comprehensive income attributable to noncontrolling interest
40

 

 
40

Other comprehensive (loss) income attributable to MKHL
$
(103,879
)
 
$
5,964

 
$
(97,915
)

(1) 
Accumulated other comprehensive income balance related to net gains on derivative financial instruments as of December 26, 2015 and March 28, 2015 is net of tax provisions of $0.7 million and $3.3 million, respectively. Other comprehensive income (loss) before reclassifications related to derivative financial instruments for the nine months ended December 26, 2015 and December 27, 2014 is net of tax benefit of $1.8 million and tax provision of $1.7 million, respectively.
(2) 
Reclassified amounts relate to the Company’s forward foreign currency exchange contracts for inventory purchases and are recorded within cost of goods sold in the Company’s consolidated statements of operations. The amounts reclassified from other comprehensive income for the three months and nine months ended December 26, 2015 are net of tax provisions of $0.6 million and $0.8 million, respectively, which are recorded within income tax expense in the Company’s consolidated statements of operations. The related tax effects recorded in the prior year periods were not material.