Derivative Financial Instruments and Hedging Activities (Tables)

3 Months Ended

Jul. 27, 2011

Derivative Financial Instruments and Hedging Activities [Abstract]

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

	July 27, 2011						April 27, 2011
					Cross-						Cross-
					Currency						Currency
	Foreign		Interest		Interest Rate		Foreign		Interest		Interest Rate
	Exchange		Rate		Swap		Exchange		Rate		Swap
	Contracts		Contracts		Contracts		Contracts		Contracts		Contracts
	(Dollars in Thousands)
Assets:
Derivatives designated as hedging instruments:
Other receivables, net	$	15,354	$	22,769	$	—	$	28,139	$	38,703	$	—
Other non-current assets		9,274		19,534		34,380		7,913		16,723		14,898
		24,628		42,303		34,380		36,052		55,426		14,898
Derivatives not designated as hedging instruments:
Other receivables, net		2,016		—		—		9,329		—		—
Other non-current assets		—		—		—		—		—		—
		2,016		—		—		9,329		—		—
Total assets	$	26,644	$	42,303	$	34,380	$	45,381	$	55,426	$	14,898
Liabilities:
Derivatives designated as hedging instruments:
Other payables	$	23,946	$	—	$	5,778	$	27,804	$	—	$	6,125
Other non-current liabilities		6,990		—		—		8,054		—		—
		30,936		—		5,778		35,858		—		6,125
Derivatives not designated as hedging instruments:
Other payables		6,604		—		—		1,024		—		—
Other non-current liabilities		—		—		—		—		—		—
		6,604		—		—		1,024		—		—
Total liabilities	$	37,540	$	—	$	5,778	$	36,882	$	—	$	6,125

Effect of derivative instruments on the statement of income

	First Quarter Ended
	July 27, 2011
							Cross-Currency
	Foreign Exchange			Interest Rate			Interest Rate
	Contracts			Contracts			Swap Contracts
	(Dollars in Thousands)
Cash flow hedges:
Net gains recognized in other comprehensive loss (effective portion)	$	7,386		$	—		$	18,329
Net gains/(losses) reclassified from other comprehensive loss into earnings (effective portion):
Sales	$	2,104		$	—		$	—
Cost of products sold		(5,588	)		—			—
Selling, general and administrative expenses		123			—			—
Other income, net		5,150			—			20,264
Interest income/(expense)		107			—			(1,506	)
		1,896			—			18,758
Fair value hedges:
Net losses recognized in other expense, net		—			(13,123	)		—
Derivatives not designated as hedging instruments:
Net losses recognized in other expense, net		(8,863	)		—			—
Total amount recognized in statement of income	$	(6,967	)	$	(13,123	)	$	18,758

	First Quarter Ended
	July 28, 2010
						Cross-Currency
	Foreign Exchange			Interest Rate		Interest Rate
	Contracts			Contracts		Swap Contracts
	(Dollars in Thousands)
Cash flow hedges:
Net (losses)/gains recognized in other comprehensive loss (effective portion)	$	(3,167	)	$	—	$	9,855
Net gains/(losses) reclassified from other comprehensive loss into earnings (effective portion):
Sales	$	380		$	—	$	—
Cost of products sold		(3,793	)		—		—
Selling, general and administrative expenses		(97	)		—		—
Other (expense)/income, net		(3,642	)		—		12,000
Interest expense		(2	)		—		(891	)
		(7,154	)		—		11,109
Fair value hedges:
Net gains recognized in other income, net		—			1,681		—
Derivatives not designated as hedging instruments:
Net losses recognized in other expense, net		(5,285	)		—		—
Total amount recognized in statement of income	$	(12,439	)	$	1,681	$	11,109