DERIVATIVES FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Jun. 28, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The fair value of derivative instruments on our Consolidated Balance Sheets as of June 28, 2014 and September 28, 2013 was as follows:



	As of
(in thousands)	June 28, 2014						September 28, 2013
	Notional Amount		Fair Value Asset Derivatives⁽¹⁾		Fair Value Liability Derivatives⁽²⁾		Notional Amount		Fair Value Asset Derivatives⁽¹⁾		Fair Value Liability Derivatives⁽²⁾
Derivatives designated as hedging instruments:
Foreign exchange forward contracts (3)	$	7,863	$	72	$	—	$	—	$	—	$	—
Total derivatives	$	7,863	$	72	$	—	$	—	$	—	$	—


(1)	The fair value of derivative assets is measured using level 2 fair value inputs and is included in prepaid expenses and other current assets on our Consolidated Balance Sheets.


(2)	Included in accrued expenses and other current liabilities on our Consolidated Balance Sheets.


(3)	Hedged amounts expected to be recognized to income within the next twelve months.

Derivative Instruments, Gain (Loss)

The effect of derivative instruments designated as cash flow hedges in our Consolidated Statements of Income for three months and nine months ended June 28, 2014 and June 29, 2013 was as follows:



(in thousands)	Three months ended				Nine months ended
	June 28, 2014		June 29, 2013		June 28, 2014		June 29, 2013
Foreign exchange forward contract in cash flow hedging relationships:
Net gain recognized in OCI, net of tax⁽¹⁾	$	95	$	—	$	95	$	—
Net gain reclassified from accumulated OCI into income, net of tax⁽²⁾	$	23	$	—	$	23	$	—
Net gain recognized in income⁽³⁾	$	—	$	—	$	—	$	—

(1)Net change in the fair value of the effective portion classified in other comprehensive income (“OCI”).

(2)Effective portion classified as selling, general and administrative expense.

(3)Ineffective portion and amount excluded from effectiveness testing classified in selling, general and administrative expense.