| Schedule of Deferred Components of OCI Reported, Net of Related Income Taxes, in Accumulated OCI in Stockholders' Equity and Changes in AOCI |
The deferred components of OCI are reported, net of related income taxes, in accumulated OCI in stockholders’ equity, as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (In thousands) |
|
March 2023 |
|
|
March 2022 |
| Foreign currency translation and other |
|
$ |
(859,651) |
|
|
|
$ |
(751,632) |
|
| Defined benefit pension plans |
|
(167,692) |
|
|
|
(230,290) |
|
| Derivative financial instruments |
|
7,825Ìý |
|
|
|
55,343Ìý |
|
| Accumulated other comprehensive income (loss) |
|
$ |
(1,019,518) |
|
|
|
$ |
(926,579) |
|
The changes in accumulated OCI, net of related taxes, were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (In thousands) |
Foreign Currency Translation and Other |
|
Defined
Benefit
PensionÌýPlans |
|
Derivative
Financial
Instruments |
|
|
|
Total |
|
| Balance, March 2020 |
$ |
(737,709) |
|
|
$ |
(262,472) |
|
|
$ |
69,223Ìý
|
|
|
|
|
$ |
(930,958) |
|
|
| Other comprehensive income (loss) before reclassifications |
(4,828) |
|
|
(6,197) |
|
|
(100,448) |
|
|
|
|
(111,473) |
|
|
| Amounts reclassified from accumulated other comprehensive income (loss) |
42,364Ìý |
|
|
10,922Ìý |
|
|
(19,855) |
|
|
|
|
33,431Ìý |
|
|
| Net other comprehensive income (loss) |
37,536Ìý |
|
|
4,725Ìý |
|
|
(120,303) |
|
|
|
|
(78,042) |
|
|
| Balance, March 2021 |
(700,173) |
|
|
(257,747) |
|
|
(51,080) |
|
|
|
|
(1,009,000) |
|
|
| Other comprehensive income (loss) before reclassifications |
(51,459) |
|
|
13,547Ìý |
|
|
59,753Ìý |
|
|
|
|
21,841Ìý |
|
|
| Amounts reclassified from accumulated other comprehensive income (loss) |
—Ìý |
|
|
13,910Ìý |
|
|
46,670Ìý |
|
|
|
|
60,580Ìý |
|
|
| Net other comprehensive income (loss) |
(51,459) |
|
|
27,457Ìý |
|
|
106,423Ìý |
|
|
|
|
82,421Ìý |
|
|
| Balance, March 2022 |
(751,632) |
|
|
(230,290) |
|
|
55,343Ìý
|
|
|
|
|
(926,579) |
|
|
| Other comprehensive income (loss) before reclassifications |
(108,019) |
|
|
(18,596) |
|
|
44,979Ìý |
|
|
|
|
(81,636) |
|
|
| Amounts reclassified from accumulated other comprehensive income (loss) |
—Ìý |
|
|
81,194Ìý |
|
|
(92,497) |
|
|
|
|
(11,303) |
|
|
| Net other comprehensive income (loss) |
(108,019) |
|
|
62,598Ìý |
|
|
(47,518) |
|
|
|
|
(92,939) |
|
|
| Balance, March 2023 |
$ |
(859,651) |
|
|
$ |
(167,692) |
|
|
$ |
7,825Ìý
|
|
|
|
|
$ |
(1,019,518) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Schedule of Reclassifications Out of Accumulated OCI |
Reclassifications out of accumulated OCI were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| (In thousands) |
AffectedÌýLineÌýItemÌýinÌýthe ConsolidatedÌýStatementsÌýof Operations |
|
|
Year Ended March |
Details About Accumulated Other
Comprehensive Income (Loss) Components |
|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
2022 |
|
2021 |
| Losses on foreign currency translation and other: |
|
|
|
|
|
|
|
|
| Liquidation of foreign entities |
Other income (expense), net |
|
|
$ |
—Ìý |
|
|
|
$ |
—Ìý |
|
|
$ |
(42,364) |
|
| Total before tax |
|
|
|
—Ìý |
|
|
|
—Ìý |
|
|
(42,364) |
|
| Tax (expense) benefit |
|
|
|
—Ìý |
|
|
|
—Ìý |
|
|
—Ìý |
|
| Net of tax |
|
|
|
—Ìý |
|
|
|
—Ìý |
|
|
(42,364) |
|
| Amortization of defined benefit pension plans: |
|
|
|
|
|
|
|
|
| Net deferred actuarial losses |
Other income (expense), net |
|
|
(16,395) |
|
|
|
(11,310) |
|
|
(11,911) |
|
| Deferred prior service credits |
Other income (expense), net |
|
|
453Ìý |
|
|
|
440Ìý |
|
|
81Ìý |
|
| Pension settlement charges |
Other income (expense), net |
|
|
(93,731) |
|
|
|
(7,466) |
|
|
(1,584) |
|
| Pension curtailment losses |
Other income (expense), net |
|
|
—Ìý |
|
|
|
—Ìý |
|
|
(920) |
|
|
|
|
|
|
|
|
|
|
|
|
| Total before tax |
|
|
|
(109,673) |
|
|
|
(18,336) |
|
|
(14,334) |
|
| TaxÌýbenefit |
|
|
|
28,479Ìý |
|
|
|
4,426Ìý |
|
|
3,412Ìý |
|
| Net of tax |
|
|
|
(81,194) |
|
|
|
(13,910) |
|
|
(10,922) |
|
| Gains (losses) on derivative financial instruments: |
|
|
|
|
|
|
|
|
| Foreign exchange contracts |
Net revenues |
|
|
(6,843) |
|
|
|
(27,382) |
|
|
2,596Ìý |
|
| Foreign exchange contracts |
Cost of goods sold |
|
|
120,438Ìý |
|
|
|
(26,346) |
|
|
19,485Ìý |
|
| Foreign exchange contracts |
Selling, general and administrative expenses |
|
|
6,695Ìý |
|
|
|
(487) |
|
|
2,797Ìý |
|
|
| Foreign exchange contracts |
Other income (expense), net |
|
|
(10,365) |
|
|
|
(219) |
|
|
(137) |
|
| Interest rate contracts |
Interest expense |
|
|
235Ìý |
|
|
|
108Ìý |
|
|
107Ìý |
|
| Total before tax |
|
|
|
110,160Ìý |
|
|
|
(54,326) |
|
|
24,848Ìý |
|
| Tax (expense) benefit |
|
|
|
(17,663) |
|
|
|
7,656Ìý |
|
|
(4,993) |
|
| Net of tax |
|
|
|
92,497Ìý |
|
|
|
(46,670) |
|
|
19,855Ìý |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total reclassifications for the period, net of tax |
|
|
$ |
11,303Ìý
|
|
|
|
$ |
(60,580) |
|
|
$ |
(33,431) |
|
|