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Derivative Financial Instruments
 12 Months Ended
Mar. 29, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments
Derivative Financial Instruments
The Company enters into derivative financial instruments on a limited basis and does not use them for trading purposes. It does, however, use derivatives to manage well-defined foreign currency risks. The Company hedges material non-functional currency monetary asset and liability balances. Foreign exchange contract gains and losses are recognized at the end of each fiscal period in the Company’s results of operations. Such gains and losses are typically offset by the corresponding changes to the related underlying hedged item. Cash flows from derivative financial instruments are classified in the same category as the cash flows from the items hedged.
At March 29, 2014 and March 30, 2013, the Company had net forward exchange contracts to purchase foreign currencies totaling $8.9 million and $1.2 million, respectively. In general, these contracts mature in less than six months and the counterparties are large, highly rated banks; therefore, the Company believes that the risk of loss as a result of nonperformance by the banks is minimal.
The table below summarizes, by currency, the notional amounts of forward exchange contracts in U.S. dollars as of March 29, 2014 and March 30, 2013. The “bought” amounts represent the net U.S. dollar equivalents of commitments to purchase foreign currencies, and the “sold” amounts represent the net U.S. dollar equivalents of commitments to sell foreign currencies. The foreign currency amounts have been translated into a U.S. dollar equivalent value using the exchange rates as of March 29, 2014 and March 30, 2013. 
 
Bought (Sold)
(In thousands)
2014
 
2013
Japanese Yen
$
4,346

 
$
4,136

Euro
13,322

 
6,471

New Taiwan Dollar
(440
)
 
(783
)
Korean Won
(1,917
)
 
(2,654
)
British Pound
(3,664
)
 
(4,272
)
Chinese Renminbi
(1,917
)
 
(1,542
)
Singapore Dollar
(716
)
 
(204
)
Canadian Dollar
(136
)
 
—

 
$
8,878

 
$
1,152