Derivative Financial Instruments (Tables)

3 Months Ended

Jun. 27, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Forward currency exchange contracts outstanding

As of June 27, 2015 and March 28, 2015, the Company had the following outstanding forward currency exchange contracts (in notional amount), which were derivative financial instruments:

(In thousands and U.S. dollars)	June 27, 2015		March 28, 2015
Singapore Dollar	$	36,912	$	43,901
Euro	23,074		29,973
Indian Rupee	21,204		22,228
British Pound	11,794		12,946
Japanese Yen	3,681		4,994
	$	96,665	$	114,042

Derivative Instruments Located on Condensed Consolidated Balance Sheet

The Company had the following derivative instruments as of June 27, 2015 and March 28, 2015, 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
June 27, 2015	Prepaid expenses and other current assets	$	436	Other accrued liabilities	$	4,520
March 28, 2015	Prepaid expenses and other current assets	$	—	Other accrued liabilities	$	9,320

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 the first quarter of fiscal 2016 and 2015:

	Three Months Ended
(In thousands)	June 27, 2015			June 28, 2014
Amount of losses recognized in other comprehensive income on derivative (effective portion of cash flow hedging)	$	(3,990	)	$	(265	)
Amount of gains (losses) reclassified from accumulated other comprehensive income into income (effective portion) *	$	(1,873	)	$	807
Amount of gains (losses) recorded (ineffective portion) *	$	(29	)	$	30

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