XML 41 R30.htm IDEA: XBRL DOCUMENT v3.8.0.1
DERIVATIVES FINANCIAL INSTRUMENTS (Tables)
 3 Months Ended
Dec. 30, 2017
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 Condensed Balance Sheet as of December 30, 2017 and September 30, 2017 was as follows:
 
As of
(in thousands)
December 30, 2017
 
September 30, 2017
 
Notional Amount
 
Fair Value Asset Derivatives(1)
 
Notional Amount
 
Fair Value Asset Derivatives(1)
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
Foreign exchange forward contracts (2)
$
28,502

 
$
796

 
$
36,404

 
$
1,353

Total derivatives
$
28,502

 
$
796

 
$
36,404

 
$
1,353

(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 Condensed 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 Condensed Statements of Comprehensive Income for the three months ended December 30, 2017 and December 31, 2016 are as follows:
(in thousands)
 
Three months ended
 
 
December 30, 2017
 
December 31, 2016
Foreign exchange forward contract in cash flow hedging relationships:
 
 
 
 
Net gain/(loss) recognized in OCI, net of tax(1)
 
$
796

 
$
(1,592
)
Net gain/(loss) reclassified from accumulated OCI into income, net of tax(2)
 
$
1,046

 
$
(529
)
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.