Derivative Financial Instruments and Hedging Activities (Tables)

6 Months Ended

Oct. 27, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair values and corresponding balance sheet captions of the Company's derivative instruments

The following table presents the fair values and corresponding balance sheet captions of the Company’s derivative instruments as of October 27, 2013 and April 28, 2013:

	Successor						Predecessor
	October 27, 2013						April 28, 2013
	Foreign Exchange Contracts		Interest Rate Contracts		Cross-Currency Swap Contracts		Foreign Exchange Contracts		Interest Rate Contracts		Cross- Currency Interest Rate Swap Contracts
	(In thousands)
Assets:
Derivatives designated as hedging instruments:
Other receivables, net	$	29,011	$	—	$	—	$	23,240	$	4,226	$	—
Other non-current assets	6,291		137,894		—		11,498		29,103		—
	35,302		137,894		—		34,738		33,329		—
Derivatives not designated as hedging instruments:
Other receivables, net	9,630		—		—		825		—		—
Other non-current assets	—		—		—		—		—		—
	9,630		—		—		825		—		—
Total assets	$	44,932	$	137,894	$	—	$	35,563	$	33,329	$	—
Liabilities:
Derivatives designated as hedging instruments:
Other payables	$	5,079	$	—	$	—	$	1,508	$	—	$	34,805
Other non-current liabilities	272		—		166,429		217		—		37,520
	5,351		—		166,429		1,725		—		72,325
Derivatives not designated as hedging instruments:
Other payables	31,054		—		—		4,860		—		—
Other non-current liabilities	—		—		—		—		960		—
Total liabilities	$	36,405	$	—	$	166,429	$	6,585	$	960	$	72,325

Effect of derivative instruments on the statement of income

The following table presents the pre-tax effect of derivative instruments on the consolidated statement of income for the second quarters endedOctober 27, 2013 and October 28, 2012:

	Second Quarter Ended
	Successor									Predecessor
	October 27, 2013 FY 2014									October 28, 2012 FY 2013
	Foreign Exchange Contracts			Interest Rate Contracts			Cross-Currency Swap Contracts			Foreign Exchange Contracts			Interest Rate Contracts			Cross-Currency Interest Rate Swap Contracts
	(In thousands)
Cash flow hedges:
Net gains/(losses) recognized in other comprehensive loss (effective portion)	$	10,692		$	(102,253	)	$	(166,429	)	$	7,184		$	—		$	(6,798	)
Net gains/(losses) reclassified from other comprehensive loss into earnings (effective portion):
Sales	$	(558	)	$	—		$	—		$	2,439		$	—		$	—
Cost of products sold	1,190			—			—			(3,920		)	—			—
Selling, general and administrative expenses	(46		)	—			—			31			—			—
Other expense, net	—			—			—			1,259			—			(5,908		)
Interest expense	—			—			—			(70		)	(59		)	(1,215		)
	586			—			—			(261		)	(59		)	(7,123		)
Fair value hedges:
Net losses recognized in other expense, net	—			—			—			—			(3,900		)	—
Derivatives not designated as hedging instruments:
Unrealized gain on derivative instruments	—			—			—			—			—			—
Net (losses)/gains recognized in other expense, net	(8,881		)	—			—			564			—			—
Net gains recognized in interest income	—			—			—			—			297			—
	(8,881		)	—			—			564			297			—
Total amount recognized in statement of operations	$	(8,295	)	$	—		$	—		$	303		$	(3,662	)	$	(7,123	)

The following table presents the pre-tax effect of derivative instruments on the consolidated statement of income for the six months endedOctober 27, 2013 and October 28, 2012:

	Successor									Predecessor
	February 8 - October 27, 2013 FY 2014									April 29 - June 7, 2013 FY 2014									Six Months Ended October 28, 2012 FY 2013
	Foreign Exchange Contracts			Interest Rate Contracts			Cross-Currency Swap Contracts			Foreign Exchange Contracts			Interest Rate Contracts			Cross-Currency Interest Rate Swap Contracts			Foreign Exchange Contracts			Interest Rate Contracts			Cross-Currency Interest Rate Swap Contracts
	(In thousands)
Cash flow hedges:
Net gains/(losses) recognized in other comprehensive loss (effective portion)	$	19,308		$	19,959		$	(166,429	)	$	2,603		$	—		$	(4,079	)	$	12,360		$	—		$	(1,675	)
Net (losses)/gains reclassified from other comprehensive loss into earnings (effective portion):
Sales	$	(325	)	$	—		$	—		$	990		$	—		$	—		$	4,184		$	—		$	—
Cost of products sold	1,427			—			—			1,814			—			—			(5,288		)	—			—
Selling, general and administrative expenses	(46		)	—			—			—			—			—			(117		)	—			—
Other expense, net	—			—			—			(1,858		)	—			(9,821		)	8,559			—			3,009
Interest income/(expense)	—			—			—			61			(20		)	(538		)	(120		)	(118		)	(2,667		)
	1,056			—			—			1,007			(20		)	(10,359		)	7,218			(118		)	342
Fair value hedges:
Net (losses)/gains recognized in other expense, net	—			(180		)	—			—			(5,925		)	—			—			734			—
Derivatives not designated as hedging instruments:
Unrealized gain on derivative instruments	—			117,934			—			—			—			—			—			—			—
Net losses recognized in other expense, net	(27,270		)	—			—			(3,890		)	—			—			(1,111		)	—			—
Net gains recognized in interest income	—			—			—			—			—			—			—			490			—
	(27,270		)	117,934			—			(3,890		)	—			—			(1,111		)	490			—
Total amount recognized in statement of operations	$	(26,214	)	$	117,754		$	—		$	(14,249	)	$	(10,379	)	$	(10,359	)	$	7,213		$	1,106		$	118,096