XML 68 R39.htm IDEA: XBRL DOCUMENT
v3.20.1

DERIVATIVES AND FAIR VALUE MEASUREMENTS (Tables) | 12 Months Ended
--- | ---
Mar. 28, 2020
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 the Company's derivative instruments designated as cash flow hedges and those not designated as hedging instruments under ASC 815 in its consolidated statements of income and comprehensive income for the fiscal year ended March 28, 2020.
Derivative Instruments |  | Amount of Gain (Loss) Recognized in Accumulated Other Comprehensive Loss |  | Amount of Gain Reclassified from Accumulated Other Comprehensive Loss into Earnings |  | 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 |  | $ | 90 |  |  | $ | 700 |  |  | Net revenues, COGS and SG&A |  | $ | 545 |  |  | Interest and other expense, net
Non-designated foreign currency hedge contracts |  | — |  |  | — |  |  |  |  | $ | 3,306 |  |  | Interest and other expense, net
Designated interest rate swaps, net of tax |  | $ | (10,201 | ) |  | $ | (1,325 | ) |  | Interest and other expense, net |  |  |  |  |
Schedule of Fair Value of Derivative Instruments as They Appear in Consolidated Balance Sheets | The following tables present the fair value of the Company's derivative instruments as they appear in its consolidated balance sheets as of March 28, 2020 and March 30, 2019:
(In thousands) | Location in Balance Sheet |  | As of March 28, 2020 |  | As of March 30, 2019
Derivative Assets: |  |  |  |  |  |  |
Designated foreign currency hedge contracts | Other current assets |  | $ | 839 |  |  | $ | 1,208 |
Non-designated foreign currency hedge contracts | Other current assets |  | 377 |  |  | 69 |
|  |  | $ | 1,216 |  |  | $ | 1,277 |
Derivative Liabilities: |  |  |  |  |  |  |
Designated foreign currency hedge contracts | Other current liabilities |  | $ | 1,854 |  |  | $ | 145 |
Non-designated foreign currency hedge contracts | Other current liabilities |  | 1,435 |  |  | — |
Designated interest rate swaps | Other current liabilities |  | 5,581 |  |  | 5,203 |
Designated interest rate swaps | Other long-term liabilities |  | 9,475 |  |  | — |
|  |  | $ | 18,345 |  |  | $ | 5,348 |
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 March 28, 2020 and March 30, 2019.
|  | As of March 28, 2020
(In thousands) |  | Level 1 |  | Level 2 |  | Total
Assets |  |  |  |  |  |
Money market funds |  | $ | 44,564 |  |  | $ | — |  |  | $ | 44,564 |
Designated foreign currency hedge contracts |  | — |  |  | 839 |  |  | $ | 839 |
Non-designated foreign currency hedge contracts |  | — |  |  | 377 |  |  | $ | 377 |
|  | $ | 44,564 |  |  | $ | 1,216 |  |  | $ | 45,780 |
Liabilities |  |  |  |  |  |
Designated foreign currency hedge contracts |  | $ | — |  |  | $ | 1,854 |  |  | $ | 1,854 |
Non-designated foreign currency hedge contracts |  | — |  |  | 1,435 |  |  | $ | 1,435 |
Designated interest rate swaps |  | — |  |  | 15,056 |  |  | $ | 15,056 |
|  | $ | — |  |  | $ | 18,345 |  |  | $ | 18,345 |
|  | As of March 30, 2019
|  | Level 1 |  | Level 2 |  | Total
Assets |  |  |  |  |  |
Money market funds |  | $ | 36,980 |  |  | $ | — |  |  | $ | 36,980 |
Designated foreign currency hedge contracts |  | — |  |  | 1,208 |  |  | $ | 1,208 |
Non-designated foreign currency hedge contracts |  | — |  |  | 69 |  |  | $ | 69 |
|  | $ | 36,980 |  |  | $ | 1,277 |  |  | $ | 38,257 |
Liabilities |  |  |  |  |  |  |  |  |
Designated foreign currency hedge contracts |  | $ | — |  |  | $ | 145 |  |  | $ | 145 |
Non-designated foreign currency hedge contracts |  | $ | — |  |  | $ | 5,203 |  |  | $ | 5,203 |
|  | $ | — |  |  | $ | 5,348 |  |  | $ | 5,348 |

X
- References No definition available. + Details
Name: | us-gaap_DerivativeInstrumentsAndHedgingActivitiesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4E -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624181-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5618551-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsGainLossInStatementOfFinancialPerformanceTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsInStatementOfFinancialPositionFairValueTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration