Derivative Financial Instruments (Tables)

3 Months Ended

Jul. 02, 2016

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Forward currency exchange contracts outstanding

As of July 2, 2016 and April 2, 2016, the Company had the following outstanding forward currency exchange contracts (in notional amount), which were derivative financial instruments:

(In thousands and U.S. dollars)	July 2, 2016		April 2, 2016
Singapore Dollar	$	26,179	$	26,978
Euro	23,968		19,123
Indian Rupee	25,829		23,302
British Pound	10,722		10,716
Japanese Yen	4,310		3,387
	$	91,008	$	83,506

Derivative Instruments Located on Condensed Consolidated Balance Sheet

The Company had the following derivative instruments as of July 2, 2016 and April 2, 2016, 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
July 2, 2016	Prepaid expenses and other current assets	$	1,755	Other accrued liabilities	$	1,539
April 2, 2016	Prepaid expenses and other current assets	$	2,161	Other accrued liabilities	$	1,417

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 2017 and 2016:

	Three Months Ended
(In thousands)	July 2, 2016			June 27, 2015
Amount of losses recognized in other comprehensive income on derivative (effective portion of cash flow hedging)	$	(488	)	$	(3,990	)
Amount of losses reclassified from accumulated other comprehensive income into income (effective portion) *	$	(293	)	$	(1,873	)
Amount of gains (losses) recorded (ineffective portion) *	$	8		$	(29	)

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