XML 40 R29.htm IDEA: XBRL DOCUMENT v3.5.0.2
DERIVATIVES FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Jul. 02, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
There were no outstanding derivative instruments as of October 3, 2015. The fair value of derivative instruments on our Consolidated Balance Sheet as of July 2, 2016 was as follows:
 
As of
(in thousands)
July 2, 2016
 
Notional Amount
 
Fair Value Asset Derivatives(1)
Derivatives designated as hedging instruments:
 
 
 
Foreign exchange forward contracts (2)
$
9,271

 
40

Total derivatives
$
9,271

 
40

(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 Sheet.
(2)
Hedged amounts expected to be recognized to income within the next twelve months.
Derivative Instruments, Gain (Loss)
The effects of derivative instruments designated as cash flow hedges in our Consolidated Statements of Comprehensive Income for the three and nine months ended July 2, 2016 and June 27, 2015 are as follows:
(in thousands)
 
Three months ended
 
Nine months ended
 
 
July 2, 2016
 
June 27, 2015
 
July 2, 2016
 
June 27, 2015
Foreign exchange forward contract in cash flow hedging relationships:
 
 
 
 
 
 
 
 
Net gain/(loss) recognized in OCI, net of tax(1)
 
$
41

 
$
(5
)
 
$
(92
)
 
$
(778
)
Net gain/(loss) reclassified from accumulated OCI into income, net of tax(2)
 
$
1

 
$
(17
)
 
$
(132
)
 
$
(790
)
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.