| 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) |
|
December 2019 |
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|
March 2019 |
|
December 2018 |
Foreign currency translation and other |
|
$ |
(663,319 |
) |
|
|
$ |
(725,679 |
) |
|
$ |
(737,127 |
) |
Defined benefit pension plans |
|
(249,530 |
) |
|
|
(243,184 |
) |
|
(219,644 |
) |
Derivative financial instruments |
|
17,477 |
|
|
|
66,788 |
|
|
70,206 |
|
Accumulated other comprehensive income (loss) |
|
$ |
(895,372 |
) |
|
|
$ |
(902,075 |
) |
|
$ |
(886,565 |
) |
The changes in accumulated OCI, net of related taxes, were as follows:
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Three Months Ended December 2019 |
|
(In thousands) |
Foreign Currency Translation and Other |
|
Defined Benefit Pension Plans |
|
Derivative Financial Instruments |
|
Total |
|
Balance, September 2019 |
$ |
(715,286 |
) |
|
$ |
(298,326 |
) |
|
$ |
82,887 |
|
|
$ |
(930,725 |
) |
|
Other comprehensive income (loss) before reclassifications |
51,967 |
|
|
26,827 |
|
|
(46,536 |
) |
|
32,258 |
|
|
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
21,969 |
|
|
(18,874 |
) |
|
3,095 |
|
|
Net other comprehensive income (loss) |
51,967 |
|
|
48,796 |
|
|
(65,410 |
) |
|
35,353 |
|
|
Balance, December 2019 |
$ |
(663,319 |
) |
|
$ |
(249,530 |
) |
|
$ |
17,477 |
|
|
$ |
(895,372 |
) |
|
|
|
|
|
|
|
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|
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|
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|
Three Months Ended December 2018 |
(In thousands) |
Foreign Currency Translation and Other |
|
Defined Benefit Pension Plans |
|
Derivative Financial Instruments |
|
Total |
Balance, September 2018 |
$ |
(665,962 |
) |
|
$ |
(226,039 |
) |
|
$ |
29,085 |
|
|
$ |
(862,916 |
) |
Other comprehensive income (loss) before reclassifications |
(71,165 |
) |
|
1,065 |
|
|
36,619 |
|
|
(33,481 |
) |
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
5,330 |
|
|
4,502 |
|
|
9,832 |
|
Net other comprehensive income (loss) |
(71,165 |
) |
|
6,395 |
|
|
41,121 |
|
|
(23,649 |
) |
Balance, December 2018 |
$ |
(737,127 |
) |
|
$ |
(219,644 |
) |
|
$ |
70,206 |
|
|
$ |
(886,565 |
) |
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|
Nine Months Ended December 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 |
(11,646 |
) |
|
15,108 |
|
|
8,712 |
|
|
12,174 |
|
|
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
28,154 |
|
|
(47,057 |
) |
|
(18,903 |
) |
|
Spin-off of Jeans Business |
83,094 |
|
|
794 |
|
|
(8,595 |
) |
|
75,293 |
|
|
Net other comprehensive income (loss) |
62,360 |
|
|
(6,346 |
) |
|
(49,311 |
) |
|
6,703 |
|
|
Balance, December 2019 |
$ |
(663,319 |
) |
|
$ |
(249,530 |
) |
|
$ |
17,477 |
|
|
$ |
(895,372 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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|
|
Nine Months Ended December 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 |
(260,258 |
) |
|
39,877 |
|
|
135,041 |
|
|
(85,340 |
) |
Amounts reclassified from accumulated other comprehensive income (loss) |
— |
|
|
30,097 |
|
|
32,708 |
|
|
62,805 |
|
Net other comprehensive income (loss) |
(260,258 |
) |
|
69,974 |
|
|
167,749 |
|
|
(22,535 |
) |
Balance, December 2018 |
$ |
(737,127 |
) |
|
$ |
(219,644 |
) |
|
$ |
70,206 |
|
|
$ |
(886,565 |
) |
|
| 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
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Affected Line Item in the Consolidated Statements of Income |
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|
Three Months Ended December |
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Nine Months Ended December |
| |
| |
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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 |
|
|
$ |
(4,203 |
) |
|
|
$ |
(6,676 |
) |
|
|
$ |
(12,236 |
) |
|
|
$ |
(22,153 |
) |
| |
Deferred prior service (costs) credits |
Other income (expense), net |
|
|
(13 |
) |
|
|
58 |
|
|
|
(38 |
) |
|
|
(552 |
) |
| |
Pension curtailment losses and settlement charges |
Other income (expense), net |
|
|
(24,943 |
) |
|
|
(662 |
) |
|
|
(25,462 |
) |
|
|
(18,329 |
) |
| |
Total before tax |
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|
|
(29,159 |
) |
|
|
(7,280 |
) |
|
|
(37,736 |
) |
|
|
(41,034 |
) |
| |
Tax benefit |
|
|
|
7,190 |
|
|
|
1,950 |
|
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|
9,582 |
|
|
|
10,937 |
|
| |
Net of tax |
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|
|
(21,969 |
) |
|
|
(5,330 |
) |
|
|
(28,154 |
) |
|
|
(30,097 |
) |
| |
Gains (losses) on derivative financial instruments: |
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|
|
|
|
|
|
|
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| |
Foreign exchange contracts |
Net sales |
|
|
(5,507 |
) |
|
|
772 |
|
|
|
(11,226 |
) |
|
|
6,244 |
|
| |
Foreign exchange contracts |
Cost of goods sold |
|
|
27,157 |
|
|
|
(4,570 |
) |
|
|
60,989 |
|
|
|
(31,146 |
) |
| |
Foreign exchange contracts |
Selling, general and administrative expenses |
|
|
1,231 |
|
|
|
(1,020 |
) |
|
|
3,329 |
|
|
|
(5,240 |
) |
| |
Foreign exchange contracts |
Other income (expense), net |
|
|
1,006 |
|
|
|
690 |
|
|
|
7,574 |
|
|
|
(1,673 |
) |
| |
Interest rate contracts |
Interest expense |
|
|
(1,324 |
) |
|
|
(1,263 |
) |
|
|
(3,920 |
) |
|
|
(3,739 |
) |
| |
Total before tax |
|
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|
22,563 |
|
|
|
(5,391 |
) |
|
|
56,746 |
|
|
|
(35,554 |
) |
| |
Tax (expense) benefit |
|
|
|
(3,689 |
) |
|
|
889 |
|
|
|
(9,689 |
) |
|
|
2,846 |
|
| |
Net of tax |
|
|
|
18,874 |
|
|
|
(4,502 |
) |
|
|
47,057 |
|
|
|
(32,708 |
) |
| |
Total reclassifications for the period, net of tax |
|
|
$ |
(3,095 |
) |
|
|
$ |
(9,832 |
) |
|
|
$ |
18,903 |
|
|
|
$ |
(62,805 |
) |
|