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Derivatives

3 Months Ended

Jul. 29, 2018

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives

14. Derivatives

During the fourth quarter of fiscal 2018, we entered into a EURO foreign exchange contract to mitigate the risk of foreign exchange rate fluctuations associated with certain capital expenditures. The contract effectively converts our EURO capital expenditures at a fixed EURO foreign exchange rate compared with the United States dollar of 1.263 and is due to expire in August 2018.

In accordance with the provisions of ASC Topic 815, Derivatives and Hedging, our EURO foreign exchange contract was designated as a cash flow hedge, with the fair value of these financial instruments recorded in accrued expenses and changes in fair value recorded in accumulated other comprehensive income (loss). ASC Topic 815 requires disclosure of gains and losses on derivative instruments in the following tabular format.

(Amounts in Thousands) Fair Values of Derivative Instruments

July 29, 2018

April 29, 2018

Derivatives designated as hedging instruments under ASC Topic 815

Balance Sheet Location

Fair Value

Balance Sheet Location

Fair Value

Euro Foreign Exchange Contract

Accrued Expenses

$

40

Accrued Expenses

$

55

At July 30, 2017, we did not have any derivatives designated as hedging instruments under ASC Topic 815.

Derivatives in ASC Topic 815 Net Investment Hedging Relationships		Amt of Gain (Loss) (net of tax) Recognized in OCI on Derivative (Effective Portion) and recorded in Accrued Expenses at Fair Value								Location of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)				Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)								Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)				Amount of Gain (loss) (net of tax) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing)
		Three Months Ended July 29, 2018				Three Months Ended July 30, 2017								Three Months Ended July 29, 2018				Three Months Ended July 30, 2017								Three Months Ended July 29, 2018				Three Months Ended July 30, 2017
EURO Foreign Exchange Contract		$	15			$	—				Other Exp			$	(40	)		$	—				Other Exp			$	—			$	—

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- References

No definition available.

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- Definition

The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-URI http://asc.fasb.org/topic&trid=2229140

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