Derivative Instruments and Hedging Activities (Tables)

3 Months Ended

9 Months Ended

Mar. 31, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The effects of derivative instruments on the Company’s condensed consolidated balance sheets as of March 31, 2012, June 25, 2011 and March 26, 2011 and on the Company’s income and OCI for the three and nine months ended March 31, 2012 and March 26, 2011 were as follows (amounts presented exclude any income tax effects):

Fair Values of Derivative Instruments in Condensed Consolidated Balance Sheet

(Designated as (non)hedging instruments under ASC 815)



	Asset Derivatives
	Balance Sheet Location	Fair Value
		March 31, 2012		June 25, 2011		March 26, 2011
Hedging derivatives:
Foreign currency forward contracts	Other current assets	$	1,619	$	4,178	$	4,235
Interest rate swap agreements	Other non-current assets	—		—		2,092
Total hedging derivatives		$	1,619	$	4,178	$	6,327
Non-hedging derivatives:
Foreign currency forward contracts	Other current assets	$	323	$	206	$	457
Total non-hedging derivatives		$	323	$	206	$	457

	Liability Derivatives
	Balance Sheet Location	Fair Value
		March 31, 2012		June 25, 2011		March 26, 2011
Hedging derivatives:
Foreign currency forward contracts	Accrued liabilities	$	2,630	$	952	$	1,403
Interest rate swap agreements	Other non-current liabilities	13,248		7,283		—
Total hedging derivatives		$	15,878	$	8,235	$	1,403
Non-hedging derivatives:
Foreign currency forward contracts	Accrued liabilities	$	10	$	79	$	54
Total non-hedging derivatives		$	10	$	79	$	54

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]

Effects of Derivative Instruments on Income and OCI for the three months ended March 31, 2012 and March 26, 2011



Derivatives in ASC 815 Cash Flow Hedging Relationships	Amount of Gain/(Loss) Recognized in OCI on Derivative (Effective Portion)				Location and Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion)							Location and Amount of Gain/(Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
	March 31, 2012		March 26, 2011			March 31, 2012			March 26, 2011				March 31, 2012			March 26, 2011
T-Locks	$	—	$	—	Interest, net	$	91		$	91		Interest, net	$	—		$	—
Interest rate swap agreements	190		—		Interest, net	(1,196		)	292			Interest, net	—			—
Foreign currency forward contracts	3,009		1,911		Net sales	57			(389		)	Net sales	—			(63		)
					Cost of sales	(1,067		)	743			Cost of sales	(32		)	(1		)
					Interest, net	56			7
					Other income, net	577			529
Total	$	3,199	$	1,911		$	(1,482	)	$	1,273			$	(32	)	$	(64	)



Derivatives Not Designated as Hedging Instruments under ASC 815	Location of Gain/(Loss) Recognized in Income on Derivative	Amount of Gain/(Loss) Recognized in Income on Derivative
		Three Months Ended
		2012		2011
Foreign currency forward contracts⁽¹⁾	Other (expense) income, net	$	1,145	$	(253	)


(1)	The net hedge result offsets the revaluation of the underlying balance sheet exposure, which is also recorded in Other expense.

Effects of Derivative Instruments on Income and OCI for the nine months ended March 31, 2012 and March 26, 2011



Derivatives in ASC 815 Cash Flow Hedging Relationships	Amount of Gain/(Loss) Recognized in OCI on Derivative (Effective Portion)					Location and Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion)							Location and Amount of Gain/(Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
	March 31, 2012			March 26, 2011			March 31, 2012			March 26, 2011				March 31, 2012			March 26, 2011
T-Locks	$	—		$	—	Interest, net	$	273		$	273		Interest, net	$	—		$	—
Interest rate swap agreements	(5,695		)	2,150		Interest, net	(3,316		)	543			Interest, net	—			—
Foreign currency forward contracts	(5,100		)	7,403		Net sales	(93		)	(728		)	Net sales	(20		)	(87		)
						Cost of sales	1,287			(779		)	Cost of sales	655			(4		)
						Interest, net	90			33
						Other (expense) income, net	(1,830		)	2,243
Total	$	(10,795	)	$	9,553		$	(3,589	)	$	1,585			$	635		$	(91	)



Derivatives Not Designated as Hedging Instruments under ASC 815	Location of Gain/(Loss) Recognized in Income on Derivative	Amount of Gain/(Loss) Recognized in Income on Derivative
		Nine months ended
		2012			2011
Foreign currency forward contracts⁽¹⁾	Other expense, net	$	(1,354	)	$	(740	)


(1)	The net hedge result offsets the revaluation of the underlying balance sheet exposure, which is also recorded in Other expense.

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References+ Details

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References+ Details