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Derivative Financial Instruments
 12 Months Ended
Apr. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments
Note 16. 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 accounts receivable 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 April 30, 2016 and May 2, 2015, we had not designated any of our derivative instruments as accounting hedges, and thus we recorded the changes in fair value in other (expense) income, net.

The foreign currency exchange contracts in aggregated notional amounts in place to exchange U.S. dollars at April 30, 2016 and May 2, 2015 were as follows:
 
April 30, 2016
 
May 2, 2015
 
U.S.
Dollars
 
Foreign
Currency
 
U.S.
Dollars
 
Foreign
Currency
Foreign Currency Exchange Forward Contracts:
 
 
 
 
 
 
 
U.S. Dollars/Australian Dollars
7,216

 
10,027

 
1,487

 
1,918

U.S. Dollars/Canadian Dollars
563

 
771

 
4,129

 
4,923

U.S. Dollars/British Pounds
1,795

 
1,263

 
1,679

 
1,123

U.S. Dollars/Singapore Dollars
261

 
356

 
1,176

 
1,601

U.S. Dollars/Euros
147

 
132

 
(229
)
 
174

U.S. Dollars/Swiss Franc
—

 
—

 
5,662

 
5,500

U.S. Dollars/Japanese Yen
—

 
—

 
764

 
91,282



As of April 30, 2016 and May 2, 2015, there was a net liability of $453 and $283, respectively, representing the fair value of foreign currency exchange forward contracts, which was determined using Level 2 inputs from a third-party bank.