Derivative Financial Instruments (Tables)

6 Months Ended

Sep. 29, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Forward currency exchange contracts outstanding

As of September 29, 2012 and March 31, 2012, the Company had the following outstanding forward currency exchange contracts (in notional amount), which are derivative financial instruments:

(In thousands and U.S. dollars)	September 29, 2012		March 31, 2012
Singapore dollar	$	60,969	$	60,925
Euro	35,774		41,467
Indian Rupee	19,725		18,943
British Pound	13,136		14,250
Japanese Yen	12,026		11,076
	$	141,630	$	146,661

Derivative Instruments Located on Condensed Consolidated Balance Sheet

The Company had the following derivative instruments as of September 29, 2012 and March 31, 2012, located on the condensed consolidated balance sheet, utilized for risk management purposes detailed above:

	Foreign Exchange Contracts
	Asset Derivatives			Liability Derivatives
(In thousands)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
September 29, 2012	Prepaid expenses and other current assets	$	3,436	Other accrued liabilities	$	1,035
March 31, 2012	Prepaid expenses and other current assets	$	203	Other accrued liabilities	$	3,273

Effect Of Derivative Instruments On Condensed Consolidated Statements Of Income

The following table summarizes the effect of derivative instruments on the condensed consolidated statements of income for second quarter and the first six months of fiscal 2013 and 2012:

(In thousands)	Amount of Gain (Loss) Recognized in OCI on Derivative (Effective portion of cash flow hedging)			Amount of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective portion)*			Amount of Gain (Loss) Recorded (Ineffective Portion)
Derivatives Types
Three Months Ended September 29, 2012
Foreign exchange contracts	$	7,968		$	(1,833	)	$	8
Three Months Ended October 1, 2011
Foreign exchange contracts	$	(8,187	)	$	2,339		$	(3	)
Six Months Ended September 29, 2012
Foreign exchange contracts	$	5,505		$	(2,992	)	$	7
Six Months Ended October 1, 2011
Foreign exchange contracts	$	(8,784	)	$	5,103		$	(4	)

* Recorded in Interest and Other Expense location within the condensed consolidated statements of income