XML 45 R30.htm IDEA: XBRL DOCUMENT v3.7.0.1
Debt (Tables)
3 Months Ended
Jul. 01, 2017
Debt Disclosure [Abstract]  
Schedule of Debt Instruments
Debt consists of the following:
 
 
July 1,
2017
 
April 1,
2017
 
 
(millions)
$300 million 2.125% Senior Notes(a)
 
$
298.4

 
$
298.1

$300 million 2.625% Senior Notes(b)
 
292.0

 
290.1

Total long-term debt
 
$
590.4

 
$
588.2

 
 
(a) 
During its fiscal year ended April 2, 2016 ("Fiscal 2016"), the Company entered into an interest rate swap contract which it designated as a hedge against changes in the fair value of its fixed-rate 2.125% Senior Notes, as defined below (see Note 12). Accordingly, the carrying value of the 2.125% Senior Notes as of July 1, 2017 and April 1, 2017 reflects adjustments of $1.0 million and $1.2 million, respectively, for the change in fair value attributable to the benchmark interest rate. The carrying value of the 2.125% Senior Notes is also net of unamortized debt issuance costs and discount of $0.6 million and $0.7 million as of July 1, 2017 and April 1, 2017, respectively.
(b) 
During Fiscal 2016, the Company entered into an interest rate swap contract which it designated as a hedge against changes in the fair value of its fixed-rate 2.625% Senior Notes, as defined below (see Note 12). Accordingly, the carrying value of the 2.625% Senior Notes as of July 1, 2017 and April 1, 2017 reflects adjustments of $6.5 million and $8.2 million, respectively, for the change in fair value attributable to the benchmark interest rate. The carrying value of the 2.625% Senior Notes is also net of unamortized debt issuance costs and discount of $1.5 million and $1.7 million as of July 1, 2017 and April 1, 2017, respectively.