Financial Instruments (Tables)
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6 Months Ended |
Dec. 29, 2012
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Derivative Instruments and Hedging Activities Disclosure [Abstract] |
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Available-for-sale investments [Table Text Block] |
Fair values were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | December 29, 2012 | | June 30, 2012 | | Amortized Cost | | Gross Unrealized Gain | | Gross Unrealized Loss | | Estimated Fair Value | | Amortized Cost | | Gross Unrealized Gain | | Gross Unrealized Loss | | Estimated Fair Value | | (in thousands) | Available-for-sale investments | | | | | | | | | | | | | | | | Government agency securities | $ | 75,034 |
| | $ | 158 |
| | $ | — |
| | $ | 75,192 |
| | $ | 75,007 |
| | $ | 319 |
| | $ | — |
| | $ | 75,326 |
| Total available-for-sale investments | $ | 75,034 |
| | $ | 158 |
| | $ | — |
| | $ | 75,192 |
| | $ | 75,007 |
| | $ | 319 |
| | $ | — |
| | $ | 75,326 |
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Schedule of derivative financial instruments in the Condensed Consolidated Balance Sheets [Table Text Block] |
The gross notional and the recorded fair value of derivative financial instruments in the Condensed Consolidated Balance Sheets were as follows:
| | | | | | | | | | | | | | | | | | | | | | | | | | As of December 29, 2012 | | As of June 30, 2012 | | Gross Notional(1) | | Other Current Assets | | Accrued Expenses | | Gross Notional (1) | | Other Current Assets | | Accrued Expenses | | (in thousands) | Derivatives designated as hedging instruments | | | | | | | | | | | | Cash flow hedges: | | | | | | | | | | | | Foreign exchange contracts | $ | 45,703 |
| | $ | 810 |
| | $ | 515 |
| | $ | 37,955 |
| | $ | 150 |
| | $ | 459 |
| | | | | | | | | | | | | Derivatives not designated as hedging instruments | | | | | | | | | | | | Foreign exchange contracts | 40,658 |
| | 366 |
| | 41 |
| | 35,105 |
| | 492 |
| | 48 |
| Total derivatives | $ | 86,361 |
| | $ | 1,176 |
| | $ | 556 |
| | $ | 73,060 |
| | $ | 642 |
| | $ | 507 |
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(1) Represents the face amounts of contracts that were outstanding as of December 29, 2012 and June 30, 2012, |
Changes in accumulated other comprehensive income (loss) related to derivative instruments [Table Text Block] |
The following table provides the balances and changes in the accumulated other comprehensive loss (income) related to derivative instruments during the six months ended December 29, 2012 and the year ended June 30, 2012.
| | | | | | | | | | | | December 29, 2012 | | June 30, 2012 | | | (in thousands) | Beginning balance | | $ | 309 |
| | $ | (234 | ) | Gain (loss) reclassified to income | | (584 | ) | | 653 |
| Loss (gain) recorded in other comprehensive loss | | (21 | ) | | (110 | ) | Ending balance | | $ | (296 | ) | | $ | 309 |
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Before-tax effect of cash flow derivative instruments [Table Text Block] |
The before-tax effect of cash flow derivative instruments for the three and six months ended December 29, 2012 and December 31, 2011 was as follows: | | | | | | | | | | | | | | | | | | | | | | Loss (Gain) Reclassified from Accumulated OCI into Income (Effective portion) | | | | | Three Months Ended | | Six Months Ended | | | Location | | December 29, 2012 | | December 31, 2011 | | December 29, 2012 | | December 31, 2011 | | | | | (in thousands) | Cash Flow hedges: | | | | | | | | | | | Foreign exchange contracts | | Net revenues | | $ | 147 |
| | $ | (3 | ) | | $ | 122 |
| | $ | (245 | ) | Foreign exchange contracts | | Cost of goods sold | | (443 | ) | | (322 | ) | | (10 | ) | | (127 | ) | Foreign exchange contracts | | Operating expenses | | (293 | ) | | (225 | ) | | (696 | ) | | (225 | ) | Total cash flow hedges | | | | $ | (589 | ) | | $ | (550 | ) | | $ | (584 | ) | | $ | (597 | ) |
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Before-tax effect of derivative instruments not designated as hedging instruments on Condensed Consolidated Statements of Income [Table Text Block] |
The before-tax effect of derivative instruments not designated as hedging instruments on the Condensed Consolidated Statements of Income for the three and six months ended December 29, 2012 and December 31, 2011 was as follows: | | | | | | | | | | | | | | | | | | | Gain (Loss) Recognized in Income on Derivative Instrument | | | Three Months Ended | | Six Months Ended | | Location | December 29, 2012 | | December 31, 2011 | | December 29, 2012 | | December 31, 2011 | | | (in thousands) | Foreign exchange contracts | Interest and other income (expense), net | $ | 904 |
| | $ | 645 |
| | $ | (792 | ) | | $ | 979 |
| Total | | $ | 904 |
| | $ | 645 |
| | $ | (792 | ) | | $ | 979 |
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Total net U.S. Dollar notional amountsfor foreign currency forward contracts [Text Block] |
Total net U.S. Dollar notional amounts for foreign currency forward contracts, presented by net currency purchase (sale), are as follows:
| | | | | | | | | | In United States Dollars | | December 29, 2012 | | June 30, 2012 | | | (in thousands) | Euro | | $ | 10,152 |
| | $ | (10,686 | ) | Japanese Yen | | (9,272 | ) | | (2,254 | ) | British Pound | | (8,691 | ) | | (575 | ) | Philippine Peso | | 16,587 |
| | 15,443 |
| Thai Baht | | 3,966 |
| | 4,264 |
| Total | | $ | 12,742 |
| | $ | 6,192 |
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Schedule of long-term debt [Table Text Block] |
The following table summarizes the Company's long-term debt: | | | | | | | | | | December 29, 2012 | | June 30, 2012 | | (in thousands) | 3.45% fixed rate notes due June 2013 | $ | 300,000 |
| | $ | 300,000 |
| SensorDynamics Debt (Denominated in Euro) | | | | Term fixed rate notes (2.0%-2.5%) due March 2013 to September 2015 | 6,497 |
| | 6,285 |
| Amortizing fixed rate notes (1.5%-2.75%) due up to June 2014 | 682 |
| | 1,127 |
| Amortizing floating rate notes (EURIBOR plus 1.5%) due up to June 2014 | 1,612 |
| | 1,676 |
| Total | 308,791 |
| | 309,088 |
| Less: Current portion | (304,794 | ) | | (303,496 | ) | Total long-term debt | $ | 3,997 |
| | $ | 5,592 |
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