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DERIVATIVES FINANCIAL INSTRUMENTS (Tables)
 3 Months Ended
Dec. 27, 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 December 27, 2014 was as follows:
 
As of
 
(in thousands)
December 27, 2014
 
 
Notional Amount
 
Fair Value Asset Derivatives(1)
 
Fair Value Liability Derivatives(2)
 
Derivatives designated as hedging instruments:
 
 
 
 
 
 
Foreign exchange forward contracts (3)
$
9,537

 
$
—

 
$
392

 
Total derivatives
$
9,537

 
$
—

 
$
392

 
 
(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 the three months months ended December 27, 2014 was as follows:
(in thousands)
 
Three months ended
 
 
December 27, 2014
Foreign exchange forward contract in cash flow hedging relationships:
 
 
Net loss recognized in OCI, net of tax(1)
 
$
(640
)
Net loss reclassified from accumulated OCI into income, net of tax(2)
 
$
(249
)
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.