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Derivative Financial Information
 12 Months Ended
Apr. 28, 2012
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Information
Derivative Financial Information

We utilize derivative financial instruments to manage the economic impact of fluctuations in currency exchange rates on those transactions that are denominated in currencies other than our functional currency, which is the U.S. dollar.  We enter into currency forward contracts to manage these economic risks.  We account for all derivatives on the balance sheet as an asset or liability measured at fair value, and changes in fair values are recognized in earnings unless specific hedge accounting criteria are met for cash flow or net investment hedges. If such hedge accounting criteria are met, the change is deferred in shareholders’ equity as a component of accumulated other comprehensive income. The deferred items are recognized in the statement of operations in the period the derivative contract is settled.  As of April 28, 2012 and April 30, 2011, we had not designated any of our derivative instruments as accounting hedges, and, thus, recorded the changes in fair value in the other income/expense.

The foreign currency exchange contracts in aggregated notional amounts in place to exchange United States Dollars at April 28, 2012 and April 30, 2011 were as follows:
 
April 28, 2012
 
April 30, 2011
 
U.S. Dollars
 
Foreign Currency
 
U.S. Dollars
 
Foreign Currency
Foreign Currency Exchange Forward Contracts:
 
 
 
 
 
 
 
U.S. Dollars/Euros
130

 
99

 
2,600

 
1,867

U.S. Dollars/Australian Dollars
3,315

 
3,269

 
—

 
—

U.S. Dollars/Polish Zlotys
—

 
—

 
803

 
2,390

U.S. Dollars/Canadian Dollars
870

 
868

 
—

 
—

U.S. Dollars/Singapore Dollars
96

 
121

 
—

 
—

U.S. Dollars/Brazilian Reais
242

 
436

 
—

 
—


As of April 28, 2012 and April 30, 2011, there was a net liability of $95 and $258, respectively, representing the fair value of foreign currency exchange forward contracts was determined, using Level 2 inputs from a third party bank.