| 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:
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(In thousands) |
|
September 2019 |
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|
March 2019 |
|
September 2018 |
Foreign currency translation and other |
|
$ |
(715,286 |
) |
|
|
$ |
(725,679 |
) |
|
$ |
(665,962 |
) |
Defined benefit pension plans |
|
(298,326 |
) |
|
|
(243,184 |
) |
|
(226,039 |
) |
Derivative financial instruments |
|
82,887 |
|
|
|
66,788 |
|
|
29,085 |
|
Accumulated other comprehensive income (loss) |
|
$ |
(930,725 |
) |
|
|
$ |
(902,075 |
) |
|
$ |
(862,916 |
) |
The changes in accumulated OCI, net of related taxes, were as follows:
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Three Months Ended September 2019 |
|
(In thousands) |
Foreign Currency Translation and Other |
|
Defined Benefit Pension Plans |
|
Derivative Financial Instruments |
|
Total |
|
Balance, June 2019 |
$ |
(635,901 |
) |
|
$ |
(290,468 |
) |
|
$ |
58,983 |
|
|
$ |
(867,386 |
) |
|
Other comprehensive income (loss) before reclassifications |
(79,385 |
) |
|
(10,896 |
) |
|
44,348 |
|
|
(45,933 |
) |
|
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
3,038 |
|
|
(20,444 |
) |
|
(17,406 |
) |
|
Net other comprehensive income (loss) |
(79,385 |
) |
|
(7,858 |
) |
|
23,904 |
|
|
(63,339 |
) |
|
Balance, September 2019 |
$ |
(715,286 |
) |
|
$ |
(298,326 |
) |
|
$ |
82,887 |
|
|
$ |
(930,725 |
) |
|
|
|
|
|
|
|
|
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|
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|
Three Months Ended September 2018 |
(In thousands) |
Foreign Currency Translation and Other |
|
Defined Benefit Pension Plans |
|
Derivative Financial Instruments |
|
Total |
Balance, June 2018 |
$ |
(651,739 |
) |
|
$ |
(230,517 |
) |
|
$ |
178 |
|
|
$ |
(882,078 |
) |
Other comprehensive income (loss) before reclassifications |
(14,223 |
) |
|
(1,416 |
) |
|
15,151 |
|
|
(488 |
) |
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
5,894 |
|
|
13,756 |
|
|
19,650 |
|
Net other comprehensive income (loss) |
(14,223 |
) |
|
4,478 |
|
|
28,907 |
|
|
19,162 |
|
Balance, September 2018 |
$ |
(665,962 |
) |
|
$ |
(226,039 |
) |
|
$ |
29,085 |
|
|
$ |
(862,916 |
) |
|
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|
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|
Six Months Ended September 2019 |
|
In thousands |
Foreign Currency Translation and Other |
|
Defined Benefit Pension Plans |
|
Derivative Financial Instruments |
|
Total |
|
Balance, Balance, March 2019 |
$ |
(725,679 |
) |
|
$ |
(243,184 |
) |
|
$ |
66,788 |
|
|
$ |
(902,075 |
) |
|
Adoption of new accounting standard, ASU 2018-02 |
(9,088 |
) |
|
(50,402 |
) |
|
(2,371 |
) |
|
(61,861 |
) |
|
Other comprehensive income (loss) before reclassifications |
(63,613 |
) |
|
(11,719 |
) |
|
55,248 |
|
|
(20,084 |
) |
|
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
6,185 |
|
|
(28,183 |
) |
|
(21,998 |
) |
|
Spin-off of Jeans Business |
83,094 |
|
|
794 |
|
|
(8,595 |
) |
|
75,293 |
|
|
Net other comprehensive income (loss) |
10,393 |
|
|
(55,142 |
) |
|
16,099 |
|
|
(28,650 |
) |
|
Balance, September 2019 |
$ |
(715,286 |
) |
|
$ |
(298,326 |
) |
|
$ |
82,887 |
|
|
$ |
(930,725 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended September 2018 |
In thousands |
Foreign Currency Translation and Other |
|
Defined Benefit Pension Plans |
|
Derivative Financial Instruments |
|
Total |
Balance, March 2018 |
$ |
(476,869 |
) |
|
$ |
(289,618 |
) |
|
$ |
(97,543 |
) |
|
$ |
(864,030 |
) |
Other comprehensive income (loss) before reclassifications |
(189,093 |
) |
|
38,812 |
|
|
98,422 |
|
|
(51,859 |
) |
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
24,767 |
|
|
28,206 |
|
|
52,973 |
|
Net other comprehensive income (loss) |
(189,093 |
) |
|
63,579 |
|
|
126,628 |
|
|
1,114 |
|
Balance, September 2018 |
$ |
(665,962 |
) |
|
$ |
(226,039 |
) |
|
$ |
29,085 |
|
|
$ |
(862,916 |
) |
|
| Reclassifications Out of Accumulated OCI |
Reclassifications out of accumulated OCI were as follows:
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(In thousands)
Details About Accumulated Other Comprehensive Income (Loss) Components
|
Affected Line Item in the Consolidated Statements of Income |
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|
Three Months Ended September |
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Six Months Ended September |
| |
| |
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2019 |
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2018 |
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2019 |
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|
2018 |
| |
Amortization of defined benefit pension plans: |
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| |
Net deferred actuarial losses |
Other income (expense), net |
|
|
$ |
(4,014 |
) |
|
|
$ |
(6,655 |
) |
|
|
$ |
(8,033 |
) |
|
|
$ |
(15,477 |
) |
| |
Deferred prior service (costs) credits |
Other income (expense), net |
|
|
(12 |
) |
|
|
59 |
|
|
|
(25 |
) |
|
|
(610 |
) |
| |
Pension curtailment losses and settlement charges |
Other income (expense), net |
|
|
(519 |
) |
|
|
(1,342 |
) |
|
|
(519 |
) |
|
|
(17,667 |
) |
| |
Total before tax |
|
|
|
(4,545 |
) |
|
|
(7,938 |
) |
|
|
(8,577 |
) |
|
|
(33,754 |
) |
| |
Tax benefit |
|
|
|
1,507 |
|
|
|
2,044 |
|
|
|
2,392 |
|
|
|
8,987 |
|
| |
Net of tax |
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|
|
(3,038 |
) |
|
|
(5,894 |
) |
|
|
(6,185 |
) |
|
|
(24,767 |
) |
| |
Gains (losses) on derivative financial instruments: |
|
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|
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|
|
|
|
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|
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| |
Foreign exchange contracts |
Net sales |
|
|
(2,814 |
) |
|
|
4,527 |
|
|
|
(5,719 |
) |
|
|
5,472 |
|
| |
Foreign exchange contracts |
Cost of goods sold |
|
|
22,727 |
|
|
|
(14,638 |
) |
|
|
33,832 |
|
|
|
(26,576 |
) |
| |
Foreign exchange contracts |
Selling, general and administrative expenses |
|
|
1,382 |
|
|
|
(1,522 |
) |
|
|
2,098 |
|
|
|
(4,220 |
) |
| |
Foreign exchange contracts |
Other income (expense), net |
|
|
3,696 |
|
|
|
(970 |
) |
|
|
6,568 |
|
|
|
(2,363 |
) |
| |
Interest rate contracts |
Interest expense |
|
|
(1,303 |
) |
|
|
(1,243 |
) |
|
|
(2,596 |
) |
|
|
(2,476 |
) |
| |
Total before tax |
|
|
|
23,688 |
|
|
|
(13,846 |
) |
|
|
34,183 |
|
|
|
(30,163 |
) |
| |
Tax (expense) benefit |
|
|
|
(3,244 |
) |
|
|
90 |
|
|
|
(6,000 |
) |
|
|
1,957 |
|
| |
Net of tax |
|
|
|
20,444 |
|
|
|
(13,756 |
) |
|
|
28,183 |
|
|
|
(28,206 |
) |
| |
Total reclassifications for the period, net of tax |
|
|
$ |
17,406 |
|
|
|
$ |
(19,650 |
) |
|
|
$ |
21,998 |
|
|
|
$ |
(52,973 |
) |
|