Derivative Instruments and Hedging Activities (Tables)

9 Months Ended

Jun. 27, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Fair Value of Outstanding Designated and Undesignated Derivative Assets and Liabilities

The fair value of our outstanding designated and undesignated derivative assets and liabilities are reported in the Consolidated Balance Sheets as follows: 

	June 27, 2020
	Prepaid Expenses and Other Current Assets		Other Accrued Liabilities
Designated hedge derivatives
Cash flow derivatives	$	170	$	162
Cross currency swap	284		—
Total designated hedge derivatives	454		162
Undesignated hedge derivatives
Balance sheet derivatives	—		109
Total hedge derivatives	$	454	$	271

	September 28, 2019
	Prepaid Expenses and Other Current Assets		Other Accrued Liabilities
Designated hedge derivatives
Cash flow derivatives	$	907	$	133
Total designated hedge derivatives	907		133
Undesignated hedge derivatives
Balance sheet derivatives	—		118
Total hedge derivatives	$	907	$	251

Reconciliation of the Net Fair Value of Designated Hedge Derivatives

A reconciliation of the net fair value of designated hedge derivatives subject to master netting arrangements that are recorded in the Consolidated Balance Sheets to the net fair value that could have been reported in the Consolidated Balance Sheets is as follows: 

	Gross Recognized Amount		Gross Offset Amount		Net Amount Presented		Derivatives Subject to Offset			Cash Collateral Received		Net Amount
June 27, 2020
Assets	$	454	$	—	$	454	$	(156	)	$	—	$	298
Liabilities	162		—		162		(156		)	—		6
September 28, 2019
Assets	$	907	$	—	$	907	$	(133	)	$	—	$	774
Liabilities	133		—		133		(133		)	—		—

 

Pretax Amounts Recognized in Accumulated Other Comprehensive Income on Currency Contracts

The pretax amounts recognized in AOCI on currency exchange contracts, including (gains) losses reclassified into earnings in the Consolidated Statements of Income and gains (losses) recognized in other comprehensive income (loss) (OCI), are as follows:

	Three Months Ended						Nine Months Ended
	June 27, 2020			June 29, 2019			June 27, 2020			June 29, 2019
Beginning unrealized net gain (loss) in AOCI	$	348		$	192		$	566		$	672
Net (gain) loss reclassified into revenue	(151		)	(142		)	(486		)	(743		)
Net gain (loss) recognized in OCI	(271		)	(46		)	(154		)	75
Ending unrealized net gain (loss) in AOCI	$	(74	)	$	4		$	(74	)	$	4

Pretax Amounts Recognized in AOCI on Interest Rate Swaps

The pretax amounts recognized in AOCI on the interest rate swap, including (gains) losses reclassified into earnings in the Consolidated Statements of Income and gains (losses) recognized in OCI, are as follows:

	Three Months Ended						Nine Months Ended
	June 27, 2020			June 29, 2019			June 27, 2020			June 29, 2019
Beginning unrealized net gain (loss) in AOCI	$	542		$	3,684		$	1,079		$	7,411
Net (gain) loss reclassified into interest expense	(192		)	(695		)	(729		)	(1,988		)
Net gain (loss) recognized in OCI	—			(1,325		)	—			(3,759		)
Ending unrealized net gain (loss) in AOCI	$	350		$	1,664		$	350		$	1,664

Net Gains (Losses) Recognized in Income for Foreign Exchange Balance Sheet Derivative Contracts

The net gain (loss) recognized in the Consolidated Statements of Income on foreign exchange balance sheet derivative contracts is as follows:

	Three Months Ended					Nine Months Ended
	June 27, 2020			June 29, 2019		June 27, 2020			June 29, 2019
Net gain (loss) recognized in other income (expense), net	$	(58	)	$	218	$	(464	)	$	(170	)