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DERIVATIVES AND FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Dec. 28, 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 nine months ended December 28, 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/(Loss) Excluded from Effectiveness Testing (*)				Location in Consolidated Statements of Income and Comprehensive Income
(In thousands)
Designated foreign currency hedge contracts, net of tax		$	5,034			$	7,114			Net revenues, COGS, and SG&A		$	48			Interest and other expense, net
Non-designated foreign currency hedge contracts												(169		)		Interest and other expense, net
Designated interest rate swaps, net of tax		$	249			$	(891	)		Interest and other 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 December 28, 2013 by type of contract and whether it is a qualifying hedge under ASC Topic 815.

(In thousands)		Location in Balance Sheet		December 28, 2013				March 30, 2013
Derivative Assets:
Designated foreign currency hedge contracts		Other current assets		$	4,826			$	7,030
Designated interest rate swaps		Other current assets		1,194				—
				$	6,020			$	7,030
Derivative Liabilities:
Designated foreign currency hedge contracts		Other current liabilities		$	1,153			$	954
Designated interest rate swaps		Other current liabilities		—				671
				$	1,153			$	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 December 28, 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		$	129,015			$	—			$	—			$	129,015
Designated foreign currency hedge contracts		—				4,826				—				4,826
Designated interest rate swap		—				1,194				—				1,194
		$	129,015			$	6,020			$	—			$	135,035
Liabilities
Designated foreign currency hedge contracts		$	—			$	1,153			$	—			$	1,153
Contingent consideration		—				—				8,783				8,783
		$	—			$	1,153			$	8,783			$	9,936

Schedule of Fair Value Measurements Using Significant Unobservable Inputs (Level 3)

A description of the methods used to determine the fair value of the Level 3 liabilities is included within Note 3, Acquisitions. The table below provides a reconciliation of the beginning and ending Level 3 liabilities for the quarter ended December 28, 2013.

(In thousands)		Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Contingent consideration as of acquisition date		7,600
Fair value adjustment		567
Contingent consideration interest expense		616
Ending balance		$	8,783

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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.

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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.

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Tabular disclosure of the effect of fair value measurements using significant unobservable inputs (Level 3) on changes in plan assets of pension plans and/or other employee benefit plans for the period.

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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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