9. FINANCIAL INSTRUMENTS

Foreign Currency Contracts

The Company enters into forward contracts and foreign currency swap contracts to manage the foreign currency risk associated with monetary accounts and anticipated foreign currency denominated transactions. The Company hedges committed exposures and does not engage in speculative transactions. As of December 31, 2011, the aggregate notional amount of the Company's outstanding foreign currency forward and swap contracts was $2.7 billion as summarized below:


	Foreign Currency Amount		Notional Contract Value in USD
Currency	Buy	Sell		Buy		Sell
		(In thousands)
Cash Flow Hedges
CNY	1,118,000	-	$	176,932	$	-
EUR	35,197	3,875		45,414		5,037
HUF	17,309,000	-		71,295		-
ILS	154,350	-		40,374		-
MXN	958,600	-		68,459		-
MYR	352,400	-		110,905		-
SGD	50,918	-		39,021		-
Other	N/A	N/A		49,094		3,220
				601,494		8,257
Other Forward/SwapContracts
BRL	114,100	188,000		60,627		99,894
CAD	41,952	105,343		41,188		103,559
EUR	285,673	235,175		371,878		308,363
GBP	15,654	36,074		24,184		55,465
HUF	9,815,500	10,559,300		40,430		43,493
JPY	5,509,058	2,701,874		70,821		34,860
MXN	866,360	384,720		61,872		27,475
MYR	182,251	20,623		57,357		6,490
SEK	2,423,372	821,309		349,312		118,582
Other	N/A	N/A		134,503		62,234
				1,212,172		860,415

Total Notional Contract Value in USD			$	1,813,666	$	868,672

Certain of these contracts are designed to economically hedge the Company's exposure to monetary assets and liabilities denominated in a non-functional currency and are not accounted for as hedges under the accounting standards. Accordingly, changes in the fair value of these instruments are recognized in earnings during the period of change as a component of Interest and other expense, net in the Condensed Consolidated Statements of Operations. Gains or losses from fair value adjustments for these instruments are designed to offset losses and gains from the Company's revaluation of monetary assets and liabilities denominated in a non-functional currency. As of December 31, 2011 and March 31, 2011, the Company also has included net deferred gains and losses, respectively, in other comprehensive income, a component of shareholders' equity in the Condensed Consolidated Balance Sheets, relating to changes in fair value of its foreign currency contracts that are accounted for as cash flow hedges. These deferred gains and losses were not material, and the deferred losses as of December 31, 2011 are expected to be recognized as a component of cost of sales over the next twelve-month period. The gains and losses recognized in earnings due to hedge ineffectiveness were not material for all fiscal periods presented and are included as a component of Interest and other expense, net in the Condensed Consolidated Statements of Operations.

The following table presents the fair value of the Company's derivative instruments located on the Condensed Consolidated Balance Sheets utilized for foreign currency risk management purposes:


			FairValues of Derivative Instruments
	Asset Derivatives					Liability Derivatives
			FairValue					FairValue
	Balance Sheet		December31,	March 31,		Balance Sheet		December31,		March 31,
	Location		2011		2011	Location		2011			2011
					(In thousands)
Derivatives designatedas hedging instruments
Foreign currency contracts	Other current assets	$	948	$	19,579	Other current liabilities	$	(24,725	)	$	(778	)

Derivatives notdesignatedas hedging instruments
Foreign currency contracts	Other current assets	$	23,742	$	4,492	Other current liabilities	$	(18,269	)	$	(6,122	)