XML 64 R15.htm IDEA: XBRL DOCUMENT v2.4.0.8
ACCUMULATED OTHER COMPREHENSIVE LOSS
6 Months Ended
Sep. 26, 2014
ACCUMULATED OTHER COMPREHENSIVE LOSS  
ACCUMULATED OTHER COMPREHENSIVE LOSS

8.  ACCUMULATED OTHER COMPREHENSIVE LOSS

 

The changes in accumulated other comprehensive loss by component, net of tax, are as follows:

 

 

 

Three-Month Periods Ended

 

 

 

September 26, 2014

 

September 27, 2013

 

 

 

Unrealized gain
(loss) on derivative
instruments and
other

 

Foreign currency
translation
adjustments

 

Total

 

Unrealized gain
(loss) on derivative
instruments and
other

 

Foreign currency
translation
adjustments

 

Total

 

 

 

(In thousands)

 

Beginning balance

 

$

(22,124

)

$

(97,452

)

$

(119,576

)

$

(28,991

)

$

(76,133

)

$

(105,124

)

Other comprehensive gain (loss) before reclassifications

 

(2,965

)

(3,099

)

(6,064

)

5,937

 

(11,988

)

(6,051

)

Net (gains) losses reclassified from accumulated other comprehensive loss

 

532

 

(2,584

)

(2,052

)

3,616

 

 

3,616

 

Net current-period other comprehensive gain (loss)

 

(2,433

)

(5,683

)

(8,116

)

9,553

 

(11,988

)

(2,435

)

Ending balance

 

$

(24,557

)

$

(103,135

)

$

(127,692

)

$

(19,438

)

$

(88,121

)

$

(107,559

)

 

 

 

Six-Month Periods Ended

 

 

 

September 26, 2014

 

September 27, 2013

 

 

 

Unrealized gain
(loss) on derivative
instruments and
other

 

Foreign currency
translation
adjustments

 

Total

 

Unrealized gain
(loss) on derivative
instruments and
other

 

Foreign currency
translation
adjustments

 

Total

 

 

 

(In thousands)

 

Beginning balance

 

$

(32,849

)

$

(93,307

)

$

(126,156

)

$

(18,857

)

$

(58,624

)

$

(77,481

)

Other comprehensive gain (loss) before reclassifications

 

(1,965

)

2,008

 

43

 

(308

)

(29,497

)

(29,805

)

Net (gains) losses reclassified from accumulated other comprehensive loss

 

10,257

 

(11,836

)

(1,579

)

(273

)

 

(273

)

Net current-period other comprehensive gain (loss)

 

8,292

 

(9,828

)

(1,536

)

(581

)

(29,497

)

(30,078

)

Ending balance

 

$

(24,557

)

$

(103,135

)

$

(127,692

)

$

(19,438

)

$

(88,121

)

$

(107,559

)

 

Net losses reclassified from accumulated other comprehensive loss during the six-month period ended September 26, 2014 relating to derivative instruments and other includes $5.8 million attributable to the Company’s cash flow hedge instruments which were recognized as a component of cost of sales in the condensed consolidated statement of operations.

 

During the six-month period ended September 26, 2014, the Company recognized a loss of $11.0 million in connection with the disposition of a manufacturing facility in Western Europe.  This loss includes the settlement of unrealized losses of $4.2 million on an insignificant defined benefit plan associated with the disposed facility offset by the release of cumulative foreign currency translation gains of $9.3 million, both of which have been reclassified from accumulated other comprehensive loss during the period.  The loss on sale is included in other charges (income), net in the condensed consolidated statement of operations.

 

Additionally, net gains reclassified from accumulated other comprehensive loss during the six-month period ended September 26, 2014 includes $2.6 million in connection with cumulative translation gains related to the liquidation of a foreign entity, which is included in other charges (income), net in the condensed consolidated statement of operations.

 

Substantially all unrealized losses relating to derivative instruments and other, reclassified from accumulated other comprehensive loss for the three-month and six-month periods ended September 27, 2013, was recognized as a component of cost of sales in the condensed consolidated statement of operations, which primarily relate to the Company’s foreign currency contracts accounted for as cash flow hedges.