| Schedule of 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 other comprehensive income (loss) are reported, net of related income taxes, in accumulated OCL in stockholders’ equity, as follows:
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| (In thousands) |
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December 2023 |
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March 2023 |
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December 2022 |
| Foreign currency translation and other |
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$ |
(856,853) |
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$ |
(859,651) |
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$ |
(841,877) |
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| Defined benefit pension plans |
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(155,701) |
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(167,692) |
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(164,346) |
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| Derivative financial instruments |
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(38,819) |
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7,825Ìý |
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76,635Ìý |
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| Accumulated other comprehensive loss |
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$ |
(1,051,373) |
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$ |
(1,019,518) |
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$ |
(929,588) |
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The changes in accumulated OCL, net of related taxes, were as follows:
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| Ìý |
Three Months Ended December 2023 |
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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, September 2023 |
$ |
(878,089) |
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$ |
(155,638) |
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$ |
22,022Ìý
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$ |
(1,011,705) |
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Other comprehensive income (loss) before reclassifications |
21,236Ìý |
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(3,002) |
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(61,585) |
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(43,351) |
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Amounts reclassified from accumulated other comprehensive loss |
—Ìý |
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2,939Ìý |
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|
744Ìý |
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3,683Ìý |
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Net other comprehensive income (loss) |
21,236Ìý |
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(63) |
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(60,841) |
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(39,668) |
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| Balance, December 2023 |
$ |
(856,853) |
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$ |
(155,701) |
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$ |
(38,819) |
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$ |
(1,051,373) |
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| Ìý |
Three Months Ended December 2022 |
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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, September 2022 |
$ |
(883,846) |
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$ |
(166,545) |
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$ |
206,226Ìý
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$ |
(844,165) |
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Other comprehensive income (loss) before reclassifications |
41,969Ìý |
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(850) |
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(101,665) |
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(60,546) |
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Amounts reclassified from accumulated other comprehensive loss |
—Ìý |
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3,049Ìý |
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(27,926) |
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(24,877) |
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Net other comprehensive income (loss) |
41,969Ìý |
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2,199Ìý |
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(129,591) |
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(85,423) |
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| Balance, December 2022 |
$ |
(841,877) |
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$ |
(164,346) |
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$ |
76,635Ìý
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$ |
(929,588) |
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Nine Months Ended December 2023 |
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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 2023 |
$ |
(859,651) |
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$ |
(167,692) |
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$ |
7,825Ìý
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$ |
(1,019,518) |
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| Other comprehensive income (loss) before reclassifications |
2,798Ìý |
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|
762Ìý |
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(30,144) |
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(26,584) |
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| Amounts reclassified from accumulated other comprehensive loss |
—Ìý |
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11,229Ìý |
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(16,500) |
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(5,271) |
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| Net other comprehensive income (loss) |
2,798Ìý |
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11,991Ìý |
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(46,644) |
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(31,855) |
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| Balance, December 2023 |
$ |
(856,853) |
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$ |
(155,701) |
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$ |
(38,819) |
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$ |
(1,051,373) |
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| Ìý |
Nine Months Ended December 2022 |
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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 2022 |
$ |
(751,632) |
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$ |
(230,290) |
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$ |
55,343Ìý
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$ |
(926,579) |
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| Other comprehensive income (loss) before reclassifications |
(90,245) |
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(11,226) |
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68,719Ìý |
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(32,752) |
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| Amounts reclassified from accumulated other comprehensive loss |
—Ìý |
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77,170Ìý |
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(47,427) |
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29,743Ìý |
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| Net other comprehensive income (loss) |
(90,245) |
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65,944Ìý |
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21,292Ìý |
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(3,009) |
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| Balance, December 2022 |
$ |
(841,877) |
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$ |
(164,346) |
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$ |
76,635Ìý
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$ |
(929,588) |
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| Schedule of Reclassifications Out of Accumulated OCI |
Reclassifications out of accumulated OCL were as follows:
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| (In thousands) |
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Three Months Ended December |
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Nine Months Ended December |
| Details About Accumulated Other Comprehensive Loss Components |
AffectedÌýLineÌýItemÌýinÌýthe Consolidated Statements of Operations |
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2023 |
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2022 |
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2023 |
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2022 |
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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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$ |
(4,106) |
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$ |
(3,858) |
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$ |
(12,508) |
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$ |
(11,532) |
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Deferred prior service credits |
Other income (expense), net |
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136Ìý |
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112Ìý |
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408Ìý |
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335Ìý |
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Pension settlement charges |
Other income (expense), net |
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(131) |
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(695) |
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(3,430) |
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(93,597) |
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TotalÌýbeforeÌýtax |
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(4,101) |
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(4,441) |
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(15,530) |
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(104,794) |
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TaxÌýbenefit |
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1,162Ìý |
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1,392Ìý |
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4,301Ìý |
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27,624Ìý |
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Net of tax |
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(2,939) |
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(3,049) |
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(11,229) |
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(77,170) |
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| Gains (losses) on derivative financial instruments: |
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Foreign exchange contracts |
Net revenues |
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(794) |
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782Ìý |
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(220) |
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(9,173) |
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Foreign exchange contracts |
CostÌýofÌýgoodsÌýsold |
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(2,697) |
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33,816Ìý |
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14,777Ìý |
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68,830Ìý |
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Foreign exchange contracts |
Selling, general and administrative expenses |
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|
833Ìý |
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1,816Ìý |
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3,141Ìý |
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5,380Ìý |
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Foreign exchange contracts |
OtherÌýincomeÌý(expense),Ìýnet |
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|
536Ìý |
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(3,536) |
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(725) |
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(9,065) |
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Interest rate contracts |
Interest expense |
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1,210Ìý |
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27Ìý |
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3,033Ìý |
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|
81Ìý |
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Total before tax |
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(912) |
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32,905Ìý |
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20,006Ìý |
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56,053Ìý |
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TaxÌýexpense |
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168Ìý |
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(4,979) |
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(3,506) |
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(8,626) |
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Net of tax |
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(744) |
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27,926Ìý |
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16,500Ìý |
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47,427Ìý |
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| Total reclassifications for the period, net of tax |
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$ |
(3,683) |
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$ |
24,877Ìý |
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$ |
5,271Ìý |
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$ |
(29,743) |
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