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Derivative Financial Instruments (Tables)

9 Months Ended

Jan. 02, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Presented below in tabular form is information on the location and amounts of derivative fair values in the Consolidated Condensed Balance Sheets and derivative gains and losses in the Consolidated Condensed Statements of Income:

Fair Value of Derivative Instruments

January 2, 2022 and March 31, 2021


	Derivatives and Hedging Activities Designated as Cash Flow Hedges				Derivatives and Hedging Activities Designated as Net Investment Hedges				Derivatives and Hedging Activities Not Designated as Hedging Instruments
	January 2, 2022		March 31, 2021		January 2, 2022		March 31, 2021		January 2, 2022		March 31, 2021
Prepaid and other current assets:
Lead forward contracts	$	615	$	—	$	—	$	—	$	—	$	—
Foreign currency forward contracts	5		524		—		—		—		—
Net investment hedges	—		—		4,083		—		—		—
Total assets	$	620	$	524	$	4,083	$	—	$	—	$	—
Accrued expenses:
Lead forward contracts	$	—	$	1,980	$	—	$	—	$	—	$	—
Foreign currency forward contracts	—		—		—		—		21		100
Other liabilities:
Net investment hedges	—		—		9,701		—		—		—
Total liabilities	$	—	$	1,980	$	9,701	$	—	$	21	$	100

The Effect of Derivative Instruments on Consolidated Condensed Statements of Income

The Effect of Derivative Instruments on the Consolidated Condensed Statements of Income

For the quarter ended January 2, 2022


Derivatives Designated as Cash Flow Hedges	Pretax Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)		Location of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)	Pretax Gain (Loss) Reclassified from AOCI into Income (Effective Portion)
Lead forward contracts	$	4,198	Cost of goods sold	$	5,147
Foreign currency forward contracts	296		Cost of goods sold	374
Total	$	4,494		$	5,521


Derivatives Designated as Net Investment Hedges	Pretax Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)		Location of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)	Pretax Gain (Loss) Reclassified from AOCI into Income (Effective Portion)
Cross currency fixed interest rate swaps	$	(5,530)	Interest expense	$	88
Total	$	(5,530)		$	88


Derivatives Not Designated as Hedging Instruments	Location of Gain (Loss) Recognized in Income on Derivatives	Pretax Gain (Loss)
Foreign currency forward contracts	Other (income) expense, net	$	304
Total		$	304

The Effect of Derivative Instruments on the Consolidated Condensed Statements of Income

For the quarter ended January 3, 2021


Derivatives Designated as Cash Flow Hedges	Pretax Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)		Location of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)	Pretax Gain (Loss) Reclassified from AOCI into Income (Effective Portion)
Lead forward contracts	$	4,843	Cost of goods sold	$	998
Foreign currency forward contracts	(618)		Cost of goods sold	(336)
Total	$	4,225		$	662


Derivatives Not Designated as Hedging Instruments	Location of Gain (Loss) Recognized in Income on Derivatives	Pretax Gain (Loss)
Foreign currency forward contracts	Other (income) expense, net	$	220
Total		$	220

The Effect of Derivative Instruments on the Consolidated Condensed Statements of Income

For the nine months ended January 2, 2022


Derivatives Designated as Cash Flow Hedges	Pretax Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)		Location of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)	Pretax Gain (Loss) Reclassified from AOCI into Income (Effective Portion)
Lead forward contracts	$	9,361	Cost of goods sold	$	8,423
Foreign currency forward contracts	549		Cost of goods sold	346
Total	$	9,910		$	8,769


Derivatives Designated as Net Investment Hedges	Pretax Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)		Location of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)	Pretax Gain (Loss) Reclassified from AOCI into Income (Effective Portion)
Cross currency fixed interest rate swaps	$	(5,530)	Interest expense	$	88
Total	$	(5,530)		$	88


Derivatives Not Designated as Hedging Instruments	Location of Gain (Loss) Recognized in Income on Derivatives	Pretax Gain (Loss)
Foreign currency forward contracts	Other (income) expense, net	$	421
Total		$	421

The Effect of Derivative Instruments on the Consolidated Condensed Statements of Income

For the nine months ended January 3, 2021


Derivatives Designated as Cash Flow Hedges	Pretax Gain (Loss) Recognized in AOCI on Derivative (Effective Portion)		Location of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)	Pretax Gain (Loss) Reclassified from AOCI into Income (Effective Portion)
Lead forward contracts	$	1,350	Cost of goods sold	$	(7,655)
Foreign currency forward contracts	(811)		Cost of goods sold	(362)
Total	$	539		$	(8,017)


Derivatives Not Designated as Hedging Instruments	Location of Gain (Loss) Recognized in Income on Derivatives	Pretax Gain (Loss)
Foreign currency forward contracts	Other (income) expense, net	$	592
Total		592

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5624163-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5580258-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41620-113959

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5579245-113959

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41638-113959

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41678-113959

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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-URI http://asc.fasb.org/extlink&oid=125515794&loc=d3e41641-113959

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-Publisher FASB
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-Topic 815
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=125515794&loc=SL5579240-113959

+ Details