XML 31 R19.htm IDEA: XBRL DOCUMENT v3.5.0.2
Derivative Financial Instruments
 6 Months Ended
Oct. 29, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments
Note 13. 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 October 29, 2016 and April 30, 2016, 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 U.S. Dollars at October 29, 2016 and April 30, 2016 were as follows:
 
October 29, 2016
 
April 30, 2016
 
U.S. Dollars
 
Foreign
Currency
 
U.S.
Dollars
 
Foreign
Currency
Foreign Currency Exchange Forward Contracts:
 
 
 
 
 
 
 
U.S. Dollars/Australian Dollars
9,643

 
12,971

 
7,216

 
10,027

U.S. Dollars/Japanese Yen
214

 
22,345

 
—

 
—

U.S. Dollars/Canadian Dollars
558

 
740

 
563

 
771

U.S. Dollars/British Pounds
5,315

 
3,791

 
1,795

 
1,263

U.S. Dollars/Singapore Dollars
874

 
1,209

 
261

 
356

U.S. Dollars/Euros
1,685

 
1,510

 
147

 
132



As of October 29, 2016 and April 30, 2016, there was a net asset and liability of $530 and $453, respectively, representing the fair value of foreign currency exchange forward contracts, which were determined using Level 2 inputs from a third-party bank.