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DERIVATIVES FINANCIAL INSTRUMENTS (Tables)
 9 Months Ended
Jul. 02, 2022
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 Sheets as of July 2, 2022 and October 2, 2021 were as follows:
As of
July 2, 2022October 2, 2021
(in thousands)Notional Amount
Fair Value Liability Derivatives(1)
Notional Amount
Fair Value Liability Derivatives(1)
Derivatives designated as hedging instruments:
Foreign exchange forward contracts (2)
$57,756 $(991)$57,682 $(616)
Total derivatives$57,756 $(991)$57,682 $(616)
(1)The fair value of derivative liabilities is measured using level 2 fair value inputs and is included in accrued expenses and other current liabilities on our Consolidated Condensed Balance Sheets.
(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 and nine months ended July 2, 2022 and July 3, 2021 were as follows:
Three months endedNine months ended
(in thousands)July 2, 2022July 3, 2021July 2, 2022July 3, 2021
Foreign exchange forward contract in cash flow hedging relationships:
Net (loss)/gain recognized in OCI, net of tax (1)
$(1,233)$(133)$(1,168)$301 
Net (loss)/gain reclassified from accumulated OCI into income, net of tax (2)
$(170)$317 $(793)$1,295 
(1)Net change in the fair value of the effective portion classified in OCI.
(2)Effective portion classified as selling, general and administrative expense.