XML 51 R25.htm IDEA: XBRL DOCUMENT v3.20.1
Accumulated Other Comprehensive Income (Loss)
 12 Months Ended
Mar. 28, 2020
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]  
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)
The following table presents OCI activity, net of tax, accumulated in equity:
 
 
Foreign Currency Translation Gains (Losses)(a)
 
Net Unrealized Gains (Losses) on Cash Flow Hedges(b)
 
Net Unrealized Gains (Losses) on Defined Benefit Plans(c)
 
Total Accumulated Other Comprehensive Income (Loss)
 
 
(millions)
Balance at April 1, 2017
 
$
(206.2
)
 
$
14.6

 
$
(6.8
)
 
$
(198.4
)
Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
 
 
OCI before reclassifications
 
126.9

 
(40.5
)
 
0.9

 
87.3

Amounts reclassified from AOCI to earnings
 
—

 
9.9

 
2.7

 
12.6

Other comprehensive income (loss), net of tax
 
126.9

 
(30.6
)
 
3.6

 
99.9

Balance at March 31, 2018
 
(79.3
)
 
(16.0
)
 
(3.2
)
 
(98.5
)
Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
 
 
OCI before reclassifications
 
(39.2
)
 
42.2

 
(2.0
)
 
1.0

Amounts reclassified from AOCI to earnings
 
—

 
(6.0
)
 
0.1

 
(5.9
)
Other comprehensive income (loss), net of tax
 
(39.2
)
 
36.2

 
(1.9
)
 
(4.9
)
Balance at March 30, 2019
 
(118.5
)
 
20.2

 
(5.1
)
 
(103.4
)
Other comprehensive income (loss), net of tax:
 
 
 
 
 
 
 
 
OCI before reclassifications
 
(7.0
)
 
21.2

 
(1.6
)
 
12.6

Amounts reclassified from AOCI to earnings
 
(4.9
)
 
(23.4
)
 
0.9

 
(27.4
)
Other comprehensive loss, net of tax
 
(11.9
)
 
(2.2
)
 
(0.7
)
 
(14.8
)
Balance at March 28, 2020
 
$
(130.4
)
 
$
18.0

 
$
(5.8
)
 
$
(118.2
)
 
(a) 
OCI before reclassifications to earnings related to foreign currency translation gains (losses) includes income tax provisions of $9.2 million and $10.8 million for Fiscal 2020 and Fiscal 2019, respectively, and includes an income tax benefit of $23.3 million for Fiscal 2018. OCI before reclassifications to earnings includes gains of $29.0 million (net of a $9.4 million income tax provision) and $50.2 million (net of a $15.9 million income tax provision) for Fiscal 2020 and Fiscal 2019, respectively, and includes a loss of $59.6 million (net of a $31.3 million income tax benefit) for Fiscal 2018, related to the effective portion of changes in the fair values of instruments designated as hedges of the Company's net investment in certain foreign operations (see Note 13). Amounts reclassified from AOCI to earnings related to foreign currency translation gains (losses) during Fiscal 2020 relate to the reclassification to retained earnings of income tax effects stranded in AOCI (see Note 4)
(b) 
OCI before reclassifications to earnings related to net unrealized gains (losses) on cash flow hedges are presented net of income tax provisions of $2.8 million and $5.3 million for Fiscal 2020 and Fiscal 2019, respectively, and are presented net of an income tax benefit of $5.0 million for Fiscal 2018. The tax effects on amounts reclassified from AOCI to earnings are presented in a table below.
(c) 
Activity is presented net of taxes, which were immaterial for all periods presented.
The following table presents reclassifications from AOCI to earnings for cash flow hedges, by component:
 
 
Fiscal Years Ended
 
 
 
 
March 28,
2020
 
March 30,
2019
 
March 31,
2018
 
Location of Gains (Losses)
Reclassified from AOCI to Earnings
 
 
(millions)
 
 
Gains (losses) on cash flow hedges(a):
 
 
 
 
 
 
 
 
    FC — Cash flow hedges
 
$
24.9

 
$
5.0

 
$
(8.2
)
 
Cost of goods sold
    FC — Cash flow hedges
 
1.1

 
1.7

 
(2.9
)
 
Other income (expense), net
    Tax effect
 
(2.6
)
 
(0.7
)
 
1.2

 
Income tax benefit (provision)
Net of tax
 
$
23.4

 
$
6.0

 
$
(9.9
)
 
 
 
(a)
FC = Forward foreign currency exchange contracts.