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DERIVATIVES AND FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Oct. 01, 2016

Derivative Instruments and Hedging Activities Disclosure [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 (loss) for the six months ended October 1, 2016:

(In thousands)		Amount of (Loss) Gain Recognized in Accumulated Other Comprehensive Loss				Amount of (Loss) Gain Reclassified from Accumulated Other Comprehensive Loss into Earnings				Location in Consolidated Statements of Income and Comprehensive Income (Loss)		Amount of Gain (Loss) Excluded from Effectiveness Testing *				Location in Consolidated Statements of Income and Comprehensive Income (Loss)
Designated foreign currency hedge contracts, net of tax		$	(3,176	)		$	(2,394	)		Net revenues, COGS, and SG&A		$	223			Interest and other expense, net
Non-designated foreign currency hedge contracts		—				—						(835		)		Interest and other expense, net
Designated interest rate swaps, net of tax		$	69			$	—			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 October 1, 2016 and April 2, 2016:

(In thousands)		Location in Balance Sheet		As of October 1, 2016				As of April 2, 2016
Derivative Assets:
Designated foreign currency hedge contracts		Other current assets		$	389			$	427
				$	389			$	427
Derivative Liabilities:
Designated foreign currency hedge contracts		Other current liabilities		$	3,914			$	4,056
Designated interest rate swaps		Other current liabilities		27				154
				$	3,941			$	4,210

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 October 1, 2016 and April 2, 2016.

		As of October 1, 2016
(In thousands)		Level 1				Level 2				Total
Assets
Money market funds		$	94,097			$	—			$	94,097
Designated foreign currency hedge contracts		—				389				389
		$	94,097			$	389			$	94,486
Liabilities
Designated foreign currency hedge contracts		$	—			$	3,914			$	3,914
Designated interest rate swaps		—				27				27
		$	—			$	3,941			$	3,941
		As of April 2, 2016
		Level 1				Level 2				Total
Assets
Money market funds		$	72,491			$	—			$	72,491
Designated foreign currency hedge contracts		—				427				427
Designated interest rate swaps		$	72,491			$	427			$	72,918
Liabilities
Designated foreign currency hedge contracts		$	—			$	4,056			$	4,056
Designated interest rate swaps		—				154				154
		$	—			$	4,210			$	4,210

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- Definition

Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4C
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624171-113959

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4A
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5618551-113959

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- Definition

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 Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=64837297&loc=SL5624163-113959

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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).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258

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