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Derivative Financial Instruments
 6 Months Ended
Oct. 26, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments
 Derivative Financial Instruments

We utilize derivative financial instruments to manage the economic impact of fluctuations in currency exchange rates on those transactions 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 within other assets or accounts payable 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. As of October 26, 2013 and April 27, 2013, we had not designated any of our derivative instruments as accounting hedges, and thus we recorded the changes in fair value in other income (expense), net.

The foreign currency exchange contracts in aggregated notional amounts in place to exchange United States Dollars at October 26, 2013 and April 27, 2013 were as follows:
 
October 26, 2013
 
April 27, 2013
 
U.S.
Dollars
 
Foreign
Currency
 
U.S.
Dollars
 
Foreign
Currency
Foreign Currency Exchange Forward Contracts:
 
 
 
 
 
 
 
U.S. Dollars/Australian Dollars
5,339

 
5,751

 
2,944

 
2,873

U.S. Dollars/Canadian Dollars
960

 
1,012

 
492

 
492

U.S. Dollars/British Pounds
1,644

 
1,056

 
1,554

 
1,005

U.S. Dollars/Euros
837

 
633

 
153

 
114



As of October 26, 2013 and April 27, 2013, there was a net liability and asset of $243 and $7, respectively, representing the fair value of foreign currency exchange forward contracts, which was determined using Level 2 inputs from a third-party bank.