Derivative Financial Instruments (Tables)

3 Months Ended

Jul. 01, 2017

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Forward currency exchange contracts outstanding

As of July 1, 2017 and April 1, 2017, 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 1, 2017		April 1, 2017
Singapore Dollar	$	21,884	$	22,012
Euro	20,073		18,553
Indian Rupee	33,175		31,121
British Pound	9,896		10,813
Japanese Yen	3,759		3,757
	$	88,787	$	86,256

Derivative Instruments Located on Condensed Consolidated Balance Sheet

The Company had the following derivative instruments as of July 1, 2017 and April 1, 2017, located on the condensed consolidated balance sheets, utilized for risk management purposes detailed above:

	Foreign Exchange Contracts and Interest Rate Swap Contracts
	Asset Derivatives			Liability Derivatives
(In thousands)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
July 1, 2017	Prepaid expenses and other current assets	$	3,167	Other accrued liabilities	$	174
	Other assets	$	—	Other long-term liabilities	$	3,494
April 1, 2017	Prepaid expenses and other current assets	$	2,424	Other accrued liabilities	$	763
	Other assets	$	—	Other long-term liabilities	$	—

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 years 2018 and 2017:

	Three Months Ended
(In thousands)	July 1, 2017			July 2, 2016
Amount of gains (losses) recognized in other comprehensive income on derivative (effective portion of cash flow hedging)	$	1,086		$	(488	)
Amount of gains (losses) reclassified from accumulated other comprehensive income into income (effective portion) *	$	357		$	(293	)
Amount of gains (losses) recorded (ineffective portion) *	$	(19	)	$	8

* Recorded in interest and other income (expense), net within the condensed consolidated statements of income.