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Derivative Financial Instruments
 9 Months Ended
Jan. 28, 2017
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 January 28, 2017 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 January 28, 2017 and April 30, 2016 were as follows:
 
January 28, 2017
 
April 30, 2016
 
U.S. Dollars
 
Foreign
Currency
 
U.S.
Dollars
 
Foreign
Currency
Foreign Currency Exchange Forward Contracts:
 
 
 
 
 
 
 
U.S. Dollars/Australian Dollars
6,734

 
9,062

 
7,216

 
10,027

U.S. Dollars/Japanese Yen
198

 
22,345

 
—

 
—

U.S. Dollars/Canadian Dollars
557

 
740

 
563

 
771

U.S. Dollars/British Pounds
4,836

 
3,866

 
1,795

 
1,263

U.S. Dollars/Singapore Dollars
581

 
844

 
261

 
356

U.S. Dollars/Euros
1,621

 
1,510

 
147

 
132



As of January 28, 2017, there was a net asset and liability of $72 and $206, respectively and as of April 30, 2016, there was a net liability of $453 representing the fair value of foreign currency exchange forward contracts, which were determined using Level 2 inputs from a third-party bank.