Quarterly report pursuant to Section 13 or 15(d)

CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)

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CAPITAL AND ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (Tables)
 6 Months Ended
Sep. 26, 2020
Equity [Abstract]  
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:
(In thousands) September 2020 March 2020 September 2019
Foreign currency translation and other $ (700,137) $ (737,709) $ (715,286)
Defined benefit pension plans (264,304) (262,472) (298,326)
Derivative financial instruments 4,783  69,223  82,887 
Accumulated other comprehensive income (loss) $ (959,658) $ (930,958) $ (930,725)
The changes in accumulated OCI, net of related taxes, were as follows:
  Three Months Ended September 2020
(In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total
Balance, June 2020 $ (685,236) $ (259,290) $ 46,985  $ (897,541)
Other comprehensive income (loss) before reclassifications
 (14,901) (7,629) (32,534) (55,064)
Amounts reclassified from accumulated other comprehensive income (loss)
 —  2,615  (9,668) (7,053)
Net other comprehensive income (loss)
 (14,901) (5,014) (42,202) (62,117)
Balance, September 2020 $ (700,137) $ (264,304) $ 4,783  $ (959,658)
  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)
  Six Months Ended September 2020
(In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total
Balance, March 2020 $ (737,709) $ (262,472) $ 69,223  $ (930,958)
Other comprehensive income (loss) before reclassifications
 (4,792) (6,642) (38,599) (50,033)
Amounts reclassified from accumulated other comprehensive income (loss)
 42,364  4,810  (25,841) 21,333 
Net other comprehensive income (loss)
 37,572  (1,832) (64,440) (28,700)
Balance, September 2020 $ (700,137) $ (264,304) $ 4,783  $ (959,658)
  Six Months Ended September 2019
(In thousands) Foreign Currency Translation and Other Defined Benefit Pension Plans Derivative Financial Instruments Total
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)
Reclassifications out of accumulated OCI were as follows:
Reclassifications Out of Accumulated OCI
(In thousands) Three Months Ended September Six Months Ended September
Details About Accumulated Other Comprehensive Income (Loss) Components Affected Line Item in the Consolidated Statements of Operations
2020 2019 2020 2019
Losses on foreign currency translation and other:
Liquidation of foreign entities
 Other income (expense), net $ —  $ —  $ (42,364) $ — 
Total before tax
 —  —  (42,364) — 
Tax (expense) benefit
 —  —  —  — 
Net of tax
 —  —  (42,364) — 
Amortization of defined benefit pension plans:
Net deferred actuarial losses
 Other income (expense), net (2,898) (4,014) (5,761) (8,033)
Deferred prior service (costs) credits
 Other income (expense), net 17  (12) 34  (25)
Pension settlement charges
 Other income (expense), net (572) (519) (572) (519)
Total before tax
 (3,453) (4,545) (6,299) (8,577)
Tax benefit
 838  1,507  1,489  2,392 
Net of tax
 (2,615) (3,038) (4,810) (6,185)
Gains (losses) on derivative financial instruments:
Foreign exchange contracts
 Net revenues 2,135  (2,814) 2,306  (5,719)
Foreign exchange contracts
 Cost of goods sold 8,443  22,727  25,148  33,832 
Foreign exchange contracts
 Selling, general and administrative expenses 741  1,382  2,348  2,098 
Foreign exchange contracts
 Other income (expense), net 33  3,696  1,803  6,568 
Interest rate contracts
 Interest expense 27  (1,303) 54  (2,596)
Total before tax
 11,379  23,688  31,659  34,183 
Tax expense
 (1,711) (3,244) (5,818) (6,000)
Net of tax
 9,668  20,444  25,841  28,183 
Total reclassifications for the period, net of tax $ 7,053  $ 17,406  $ (21,333) $ 21,998