| 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) |
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June 2020 |
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March 2020 |
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June 2019 |
| Foreign currency translation and other |
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$ |
(685,236) |
Ìý |
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$ |
(737,709) |
Ìý |
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$ |
(635,901) |
Ìý |
| Defined benefit pension plans |
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(259,290) |
Ìý |
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(262,472) |
Ìý |
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(290,468) |
Ìý |
| Derivative financial instruments |
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46,985Ìý |
Ìý |
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69,223Ìý |
Ìý |
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58,983Ìý |
Ìý |
| Accumulated other comprehensive income (loss) |
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$ |
(897,541) |
Ìý |
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$ |
(930,958) |
Ìý |
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$ |
(867,386) |
Ìý |
The changes in accumulated OCI, net of related taxes, were as follows:
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| Ìý |
Three Months Ended June 2020 |
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| (In thousands) |
Foreign Currency Translation and Other |
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Defined Benefit PensionÌýPlans |
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Derivative Financial Instruments |
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Total |
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| Balance, March 2020 |
$ |
(737,709) |
Ìý |
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$ |
(262,472) |
Ìý |
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$ |
69,223Ìý |
Ìý |
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$ |
(930,958) |
Ìý |
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Other comprehensive income (loss) before reclassifications |
10,109Ìý |
Ìý |
|
987Ìý |
Ìý |
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(6,065) |
Ìý |
|
5,031Ìý |
Ìý |
|
Amounts reclassified from accumulated other comprehensive income (loss) |
42,364Ìý |
Ìý |
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2,195Ìý |
Ìý |
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(16,173) |
Ìý |
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28,386Ìý |
Ìý |
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Net other comprehensive income (loss) |
52,473Ìý |
Ìý |
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3,182Ìý |
Ìý |
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(22,238) |
Ìý |
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33,417Ìý |
Ìý |
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| Balance, June 2020 |
$ |
(685,236) |
Ìý |
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$ |
(259,290) |
Ìý |
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$ |
46,985Ìý |
Ìý |
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$ |
(897,541) |
Ìý |
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Ìý
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| Ìý |
Three Months Ended June 2019 |
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| (In thousands) |
Foreign Currency Translation and Other |
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Defined Benefit PensionÌýPlans |
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Derivative Financial Instruments |
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Total |
| Balance, March 2019 |
$ |
(725,679) |
Ìý |
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$ |
(243,184) |
Ìý |
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$ |
66,788Ìý |
Ìý |
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$ |
(902,075) |
Ìý |
Adoption of new accounting standard, ASU 2018-02 |
(9,088) |
Ìý |
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(50,402) |
Ìý |
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(2,371) |
Ìý |
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(61,861) |
Ìý |
Other comprehensive income (loss) before reclassifications |
15,772Ìý |
Ìý |
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(823) |
Ìý |
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10,900Ìý |
Ìý |
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25,849Ìý |
Ìý |
Amounts reclassified from accumulated other comprehensive income (loss) |
—Ìý |
Ìý |
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3,147Ìý |
Ìý |
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(7,739) |
Ìý |
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(4,592) |
Ìý |
Spin-off of Jeans Business |
83,094Ìý |
Ìý |
|
794Ìý |
Ìý |
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(8,595) |
Ìý |
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75,293Ìý |
Ìý |
Net other comprehensive income (loss) |
89,778Ìý |
Ìý |
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(47,284) |
Ìý |
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(7,805) |
Ìý |
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34,689Ìý |
Ìý |
| Balance, June 2019 |
$ |
(635,901) |
Ìý |
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$ |
(290,468) |
Ìý |
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$ |
58,983Ìý |
Ìý |
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$ |
(867,386) |
Ìý |
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| 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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AffectedÌýLineÌýItemÌýinÌýthe Consolidated Statements of Operations |
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Three Months Ended June |
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2020 |
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2019 |
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| Losses on foreign currency translation and other: |
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Liquidation of foreign entities |
Other income (expense), net |
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$ |
(42,364) |
Ìý |
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$ |
—Ìý |
Ìý |
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Total before tax |
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(42,364) |
Ìý |
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—Ìý |
Ìý |
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Tax (expense) benefit |
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—Ìý |
Ìý |
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—Ìý |
Ìý |
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Net of tax |
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(42,364) |
Ìý |
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—Ìý |
Ìý |
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| Amortization of defined benefit pension plans: |
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Net deferred actuarial losses |
Other income (expense), net |
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(2,863) |
Ìý |
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(4,019) |
Ìý |
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Deferred prior service (costs) credits |
Other income (expense), net |
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17Ìý |
Ìý |
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(13) |
Ìý |
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TotalÌýbeforeÌýtax |
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(2,846) |
Ìý |
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(4,032) |
Ìý |
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TaxÌýbenefit |
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651Ìý |
Ìý |
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885Ìý |
Ìý |
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Net of tax |
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(2,195) |
Ìý |
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(3,147) |
Ìý |
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| Gains (losses) on derivative financial instruments: |
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Foreign exchange contracts |
Net revenues |
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171Ìý |
Ìý |
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(2,905) |
Ìý |
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Foreign exchange contracts |
CostÌýofÌýgoodsÌýsold |
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16,705Ìý |
Ìý |
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11,105Ìý |
Ìý |
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Foreign exchange contracts |
Selling, general and administrative expenses |
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1,607Ìý |
Ìý |
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716Ìý |
Ìý |
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Foreign exchange contracts |
OtherÌýincomeÌý(expense),Ìýnet |
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1,770Ìý |
Ìý |
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2,872Ìý |
Ìý |
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Interest rate contracts |
Interest expense |
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27Ìý |
Ìý |
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(1,293) |
Ìý |
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Total before tax |
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20,280Ìý |
Ìý |
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10,495Ìý |
Ìý |
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TaxÌýexpense |
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(4,107) |
Ìý |
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(2,756) |
Ìý |
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Net of tax |
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16,173Ìý |
Ìý |
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7,739Ìý |
Ìý |
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| Total reclassifications for the period, net of tax |
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$ |
(28,386) |
Ìý |
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$ |
4,592Ìý |
Ìý |
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