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Accumulated Other Comprehensive Income
 3 Months Ended
Dec. 29, 2023
Equity [Abstract]  
Accumulated Other Comprehensive Income Accumulated Other Comprehensive Loss
Other comprehensive income/loss consists of three components: unrealized gains or losses on our AFS marketable investment securities, gains and losses on derivatives in cash flow hedge relationships not yet recognized in earnings, and the gains and losses from the translation of assets and liabilities denominated in non-U.S. dollar functional currencies. Until realized and reported as a component of net income, these comprehensive income items accumulate and are included within accumulated other comprehensive loss, a subsection within stockholders’ equity in our unaudited interim condensed consolidated balance sheets. Unrealized gains and losses on our investment securities are reclassified from AOCI into earnings when realized upon sale, and are determined based on specific identification of securities sold. Unrealized gains and losses on our cash flow hedges are reclassified from AOCI into earnings when the hedged operating expenses are recognized, which is also when the gains and losses are realized.
The following table summarizes the changes in the accumulated balances during the period, and includes information regarding the manner in which the reclassifications out of AOCI into earnings affect our unaudited interim condensed consolidated statements of operations (in thousands):
Fiscal Quarter Ended
December 29, 2023
Investment SecuritiesCash Flow HedgesCurrency Translation AdjustmentsTotal
Beginning Balance$(2,858)$(197)$(33,929)$(36,984)
Other comprehensive income before reclassifications:
Unrealized gains2,011 2,587 — 4,598 
Foreign currency translation gains (1)
— — 11,509 11,509 
Income tax effect - expense— (648)— (648)
Net of tax2,011 1,939 11,509 15,459 
Amounts reclassified from AOCI into earnings:
Realized gains/(losses) (2)
(67)188 — 121 
Income tax effect - benefit/(expense) (3)
12 (36)— (24)
Net of tax(55)152 — 97 
Net current-period other comprehensive income1,956 2,091 11,509 15,556 
Ending Balance$(902)$1,894 $(22,420)$(21,428)
Fiscal Quarter Ended
December 30, 2022
Investment SecuritiesCash Flow HedgesCurrency Translation AdjustmentsTotal
Beginning Balance$(5,986)$(4,483)$(41,172)$(51,641)
Other comprehensive income before reclassifications:
Unrealized gains1,532 5,180 — 6,712 
Foreign currency translation gains (1)
— — 14,078 14,078 
Net of tax1,532 5,180 14,078 20,790 
Amounts reclassified from AOCI into earnings:
Realized losses (2)
(213)(1,004)— (1,217)
Income tax effect - benefit (3)
37 156 — 193 
Net of tax(176)(848)— (1,024)
Net current-period other comprehensive income1,356 4,332 14,078 19,766 
Ending Balance$(4,630)$(151)$(27,094)$(31,875)
(1)The foreign currency translation gains during the first quarter of fiscal 2024 and during the first quarter of fiscal 2023 were primarily due to the strengthening of other foreign currencies as compared to the U.S. dollar.
(2)Realized gains or losses, if any, from the sale of our AFS investment securities or from foreign currency translation adjustments are included within other income/(expense), net in our unaudited interim condensed consolidated statements of operations. Realized gains or losses on foreign currency contracts designated as cash flow hedges are included in operating expenses in the unaudited interim condensed consolidated statements of operations.
(3)The income tax benefit or expense is included within provision for income taxes in our unaudited interim condensed consolidated statements of operations.