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DERIVATIVES AND FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Jun. 29, 2013

Derivatives and Fair Value Measurements [Abstract]

Schedule of Effect of Derivative Instruments Designated as Cash Flow Hedges and Those Not Designated as Hedging Instruments

The following table presents the effect of our derivative instruments designated as cash flow hedges and those not designated as hedging instruments under ASC Topic 815 in our consolidated statements of income and comprehensive income for the three months ended June 29, 2013.

Derivative Instruments		Amount of Gain/(Loss) Recognized in AOCI (Effective Portion)				Amount of Gain/(Loss) Reclassified from AOCI into Earnings (Effective Portion)				Location in Consolidated Statements of Income and Comprehensive Income		Amount of gain Excluded from Effectiveness Testing (*)				Location in Consolidated Statements of Income and Comprehensive Income
(In thousands)
Designated foreign currency hedge contracts, net of tax		$	808			$	1,118			Net revenues, COGS, and SG&A		$	97			Other income (expense), net
Non-designated foreign currency hedge contracts		—				—						387				Other income (expense)
Designated interest rate swaps, net of tax		$	2,129			$	274			Interest income (expense), net		$	—

(*)   We exclude the difference between the spot rate and hedge forward rate from our effectiveness testing.

Schedule of Fair Value of Derivative Instruments as They Appear in Consolidated Balance Sheets

The following tables present the fair value of our derivative instruments as they appear in our consolidated balance sheets as of June 29, 2013 by type of contract and whether it is a qualifying hedge under ASC Topic 815.

(In thousands)		Location in Balance Sheet		June 29, 2013				March 30, 2013
Derivative Assets:
Designated foreign currency hedge contracts		Other current assets		$	5,749			$	7,030
Designated interest rate swaps		Other current assets		2,312				—
				$	8,061			$	7,030
Derivative Liabilities:
Designated foreign currency hedge contracts		Other current liabilities		$	1,322			$	954
Designated interest rate swaps		Other current liabilities		—				671
				$	1,322			$	1,625

Schedule of Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis

Financial assets and financial liabilities measured at fair value on a recurring basis consist of the following as of June 29, 2013:

(In thousands)		Quoted Market Prices for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total
Assets
Money market funds		$	121,117			$	—			$	—			$	121,117
Foreign currency hedge contracts		—				5,749				—				5,749
Interest rate swap		—				2,312				—				2,312
		$	121,117			$	8,061			$	—			$	129,178
Liabilities
Foreign currency hedge contracts		$	—			$	1,327			$	—			$	1,327
Contingent consideration		—				—				6,600				6,600
		$	—			$	1,327			$	6,600			$	7,927

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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

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 133

-Paragraph 205G

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 133

-Paragraph 44C

-Subparagraph b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 3: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

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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

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 133

-Paragraph 205G

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

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-Section 50

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-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959



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-Paragraph 44C

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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