XML 43 R32.htm IDEA: XBRL DOCUMENT v3.3.1.900
Derivative Financial Instruments (Tables)
 9 Months Ended
Jan. 02, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Forward currency exchange contracts outstanding
As of January 2, 2016 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)
January 2, 2016
 
March 28, 2015
Singapore Dollar
$
26,620

 
$
43,901

Euro
18,262

 
29,973

Indian Rupee
22,754

 
22,228

British Pound
11,749

 
12,946

Japanese Yen
3,338

 
4,994

 
$
82,723

 
$
114,042
Derivative Instruments Located on Condensed Consolidated Balance Sheet
The Company had the following derivative instruments as of January 2, 2016 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
January 2, 2016
Prepaid expenses and other current assets
$
446

 
Other accrued liabilities
$
3,084

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 third quarter and the first nine months of fiscal 2016 and 2015:

 
Three Months Ended
 
Nine Months Ended
(In thousands)
January 2, 2016
 
December 27, 2014
 
January 2, 2016
 
December 27, 2014
Amount of losses recognized in other comprehensive income on derivative (effective portion of cash flow hedging)
$
(1,470
)
 
$
(2,110
)
 
$
(5,035
)
 
$
(6,189
)

 
 
 
 

 

Amount of losses reclassified from accumulated other comprehensive income into income (effective portion) *
$
(2,166
)
 
$
(1,786
)
 
$
(6,110
)
 
$
(768
)

 
 
 
 

 

Amount of gains (losses) recorded (ineffective portion) *
$
7

 
$
(3
)
 
$
(15
)
 
$
(16
)

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