DERIVATIVES AND FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Dec. 29, 2012

Derivatives and Fair Value Measurements [Abstract]

Schedule of Effect of Derivative Instruments Designated as Cash Flow Hedges and Those Not Designated as Hedging Instruments

The following table presents the effect of our derivative instruments designated as cash flow hedges and those not designated as hedging instruments under ASC Topic 815 in our consolidated statements of income and consolidated income for the nine months ended December 29, 2012.

Derivative Instruments	Amount of Loss Recognized in AOCI (Effective Portion)			Amount of Loss Reclassified from AOCI into Earnings (Effective Portion)		Location in Statement of Operations	Amount of loss Excluded from Effectiveness Testing (*)			Location in Statement of Operations
(in thousands)
Designated foreign currency hedge contracts, net of tax	$	(374	)	$	2,011	Net revenues, COGS, and SG&A	$	(380	)	Other income (expense), net
Non-designated foreign currency hedge contracts	—			—			(930		)	Other income (expense)
Designated interest rate swaps, net of tax	576			$	—	Interest income (expense), net	$	—

(*)   We exclude the difference between the spot rate and hedge forward rate from our effectiveness testing.

Schedule of Fair Value of Derivative Instruments as They Appear in Consolidated Balance Sheets

The following tables present the fair value of our derivative instruments as they appear in our consolidated balance sheets as of December 29, 2012 by type of contract and whether it is a qualifying hedge under ASC Topic 815.

(in thousands)	Location in Balance Sheet	As of December 29, 2012		As of March 31, 2012
Derivative Assets:
Designated foreign currency hedge contracts	Other current assets	$	3,904	$	6,186
		$	3,904	$	6,186
Derivative Liabilities:
Designated foreign currency hedge contracts	Other current liabilities	$	1,343	$	1,185
Designated interest rate swaps	Other current liabilities	$	927	$	—
		$	2,270	$	1,185

Schedule of Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis

Financial assets and financial liabilities measured at fair value on a recurring basis consist of the following as of December 29, 2012:

(in thousands)	Quoted Market Prices for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets
Money market funds	$	142,919	$	—	$	—	$	142,919
Foreign currency hedge contracts	—		$	3,904	—		3,904
	$	142,919	$	3,904	$	—	$	146,823
Liabilities
Foreign currency hedge contracts	$	—	$	1,343	$	—	$	1,343
Interest rate swap	—		927		—		927
	$	—	$	2,270	$	—	$	2,270