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FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES (Tables)
3 Months Ended
Jun. 28, 2013
FAIR VALUE MEASUREMENT OF ASSETS AND LIABILITIES  
Summary of activities related to contingent consideration

 

 

 

 

Three-Month Periods Ended

 

 

 

June 28,
2013

 

June 29,
2012

 

 

 

(In thousands)

 

Beginning balance

 

$

25,000

 

$

1,151

 

Additions to accrual

 

 

5,000

 

Payments

 

 

(207

)

Fair value adjustments

 

(6,000

)

 

Ending balance

 

$

19,000

 

$

5,944

 

 

Schedule of financial assets and liabilities measured at fair value on a recurring basis

 

 

 

 

Fair Value Measurements as of June 28, 2013

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

 

 

(In thousands)

 

Assets:

 

 

 

 

 

 

 

 

 

Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet)

 

$

 

$

618,278

 

$

 

$

618,278

 

Deferred purchase price receivable (Note 8)

 

 

 

420,887

 

420,887

 

Foreign exchange forward contracts (Note 6)

 

 

15,207

 

 

15,207

 

Deferred compensation plan assets:

 

 

 

 

 

 

 

 

 

Mutual funds, money market accounts and equity securities

 

7,058

 

41,357

 

 

48,415

 

Liabilities:

 

 

 

 

 

 

 

 

 

Foreign exchange forward contracts (Note 6)

 

$

 

$

(26,388

)

$

 

$

(26,388

)

Contingent consideration in connection with business acquisitions

 

 

 

(19,000

)

(19,000

)

 

 

 

Fair Value Measurements as of March 31, 2013

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

 

 

(In thousands)

 

Assets:

 

 

 

 

 

 

 

 

 

Money market funds and time deposits (included in cash and cash equivalents of the condensed consolidated balance sheet)

 

$

 

$

497,390

 

$

 

$

497,390

 

Deferred purchase price receivable (Note 8)

 

 

 

412,357

 

412,357

 

Foreign exchange forward contracts (Note 6)

 

 

27,563

 

 

27,563

 

Warrants to purchase common shares

 

 

 

74,437

 

74,437

 

Deferred compensation plan assets:

 

 

 

 

 

 

 

 

 

Mutual funds, money market accounts and equity securities

 

6,931

 

40,972

 

 

47,903

 

Liabilities:

 

 

 

 

 

 

 

 

 

Foreign exchange forward contracts (Note 6)

 

$

 

$

(15,290

)

$

 

$

(15,290

)

Contingent consideration in connection with business acquisitions

 

 

 

(25,000

)

(25,000

)

 

Schedule of assets measured at fair value on a nonrecurring basis

 

 

 

 

Fair Value Measurements as of June 28, 2013

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

 

 

(In thousands)

 

Assets:

 

 

 

 

 

 

 

 

 

Assets held for sale

 

$

 

$

28,554

 

$

 

$

28,554

 

 

 

 

Fair Value Measurements as of March 31, 2013

 

 

 

Level 1

 

Level 2

 

Level 3

 

Total

 

 

 

(In thousands)

 

Assets:

 

 

 

 

 

 

 

 

 

Assets held for sale

 

$

 

$

11,089

 

$

 

$

11,089

 

Property and equipment

 

 

25,331

 

 

25,331

 

 

Schedule of financial liabilities not carried at fair value

 

 

 

 

As of June 28, 2013

 

As of March 31, 2013

 

 

 

 

 

Carrying

 

Fair

 

Carrying

 

Fair

 

Fair Value

 

 

 

Amount

 

Value

 

Amount

 

Value

 

Hierarchy

 

 

 

(In thousands)

 

Term loan dated October 1, 2007

 

$

170,340

 

$

169,088

 

$

170,340

 

$

170,496

 

Level 1

 

Term loan dated October 19, 2011

 

510,625

 

509,042

 

517,500

 

518,794

 

Level 1

 

4.625% Notes dated February 20, 2013 (due 2020)

 

500,000

 

487,500

 

500,000

 

507,190

 

Level 1

 

5.000% Notes dated February 20, 2013 (due 2023)

 

500,000

 

489,700

 

500,000

 

500,000

 

Level 1

 

Asia term loans

 

374,500

 

371,749

 

375,000

 

375,343

 

Level 2

 

Total

 

$

2,055,465

 

$

2,027,079

 

$

2,062,840

 

$

2,071,823