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Derivative Instruments & Hedging Activities (Tables)
 12 Months Ended
Jun. 29, 2014
Foreign Currency Derivatives [Abstract]  
Schedule of Notional Amounts of Outstanding Derivative Positions
As of June 29, 2014 and June 30, 2013, the Company had the following outstanding derivative contracts (in thousands):
Contract
 
Notional Amount
 
 
 
 
June 29, 2014
 
June 30, 2013
Interest Rate:
 
 
 
 
 
 
        LIBOR Interest Rate (U.S. Dollars)
 
Fixed
 
95,000

 
95,000
Foreign Currency:
 
 
 
 
 
 
Australian Dollar
 
Sell            
 
19,904

 
6,392

Canadian Dollar
 
Sell
3,100

 
—

Euro
 
Sell
 
49,300

 
31,000

Japanese Yen
 
Buy
 
530,000

 
905,000

Mexican Peso
 
Sell
 
3,000

 
3,345

Commodity:
 
 
 
 
 
 
Aluminum (Metric Tons)
 
Buy
 
—

 
18

Natural Gas (Therms)
 
Buy
 
5,686

 
5,423
Location and Fair Value of Derivative Instruments on Consolidated Balance Sheets
The location and fair value of derivative instruments reported in the Consolidated Balance Sheets are as follows (in thousands):
Balance Sheet Location
 
Asset (Liability) Fair Value
  
 
June 29, 2014
 
June 30, 2013
Interest rate contracts:
 
 
 
 
Other Long-Term Assets, Net
 
$
43

 
$
257

Other Long-Term Liabilities
 
(1,209
)
 
(1,020
)
Foreign currency contracts:
 
 
 
 
Other Current Assets
 
337

 
1,752

Other Long-Term Assets, Net
 
12

 
—

Accrued Liabilities
 
(665
)
 
(1,138
)
Other Long-Term Liabilities
 
(9
)
 
—

Commodity contracts:
 
 
 
 
Other Current Assets
 
39

 
—

Accrued Liabilities
 
(35
)
 
(3,250
)
Other Long-Term Liabilities
 
(14
)
 
(5
)
 
 
$
(1,501
)
 
$
(3,404
)
Effect of Derivatives on Consolidated Statements of Operations
The effect of derivatives designated as hedging instruments on the Consolidated Statements of Operations and Comprehensive Income (Loss) is as follows (in thousands):
 
 
Twelve months ended June 29, 2014
 
 
Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss) on  Derivatives, Net of Taxes (Effective Portion)
 
Classification of Gain (Loss)
 
Amount of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)
 
Recognized in Earnings (Ineffective  Portion)
Interest rate contracts
 
$
(254
)
 
Net Sales
 
$
(1,209
)
 
$
—

Foreign currency contracts – sell
 
(717
)
 
Net Sales
 
(1,024
)
 
—

Foreign currency contracts – buy
 
182

 
Cost of Goods Sold
 
(1,109
)
 
—

Commodity contracts
 
3,378

 
Cost of Goods Sold
 
(5,630
)
 
—

 
 
$
2,589

 
 
 
$
(8,972
)
 
$
—

 
 
 
Twelve months ended June 30, 2013
 
 
Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss) on  Derivatives, Net of Taxes (Effective Portion)
 
Classification of Gain (Loss)
 
Amount of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)
 
Recognized in Earnings (Ineffective  Portion)
Interest rate contracts
 
$
962

 
Net Sales
 
$
—

 
$
—

Foreign currency contracts – sell
 
102

 
Net Sales
 
(55
)
 
—

Foreign currency contracts – buy
 
(177
)
 
Cost of Goods Sold
 
(1,968
)
 
—

Commodity contracts
 
3,094

 
Cost of Goods Sold
 
(9,644
)
 


 
 
$
3,981

 
 
 
$
(11,667
)
 
$
—

 
 
Twelve months ended July 1, 2012
 
 
Amount of Gain (Loss) Recognized in Other Comprehensive Income (Loss) on  Derivatives, Net of Taxes (Effective Portion)
 
Classification of Gain (Loss)
 
Amount of Gain (Loss) Reclassified from AOCI into Income (Effective Portion)
 
Recognized in Earnings (Ineffective  Portion)
Interest rate contracts
 
$
(1,428
)
 
Net Sales
 
$
—

 
$
—

Foreign currency contracts – sell
 
1,553

 
Net Sales
 
4,031

 
—

Foreign currency contracts – buy
 
11

 
Cost of Goods Sold
 
132

 
—

Commodity contracts
 
(5,547
)
 
Cost of Goods Sold
 
(7,292
)
 
6

 
 
$
(5,411
)
 
 
 
$
(3,129
)
 
$
6
Schedule of Forward Currency Contracts Outstanding
The Company had the following forward currency contracts outstanding at the end of fiscal 2014:
Hedge
 
In Thousands
 
 
 
 
 
 
Notional
Value
 
Contract
Value
 
Fair Value
 
(Gain) Loss
at Fair Value
 
Conversion
Currency
 
Latest
Expiration Date
Currency
 
Contract
 
Australian Dollar
 
Sell
 
19,904

 
18,115

 
18,586

 
471

 
U.S.
 
June 2015
Canadian Dollar
 
Sell
 
3,100

 
2,859

 
2,899

 
40

 
U.S.
 
April 2015
Euro
 
Sell
 
49,300

 
67,529

 
67,379

 
(149
)
 
U.S.
 
December 2015
Japanese Yen
 
Buy
 
530,000

 
5,192

 
5,229

 
(37
)
 
U.S.
 
January 2015
Mexican Peso
 
Sell
 
3,000

 
231

 
231

 
—

 
U.S.
 
July 2014
The Company had the following forward currency contracts outstanding at the end of fiscal 2013:
Hedge
 
In Thousands
 
 
 
 
 
 
Notional
Value
 
Contract
Value
 
Fair Value
 
(Gain) Loss
at Fair Value
 
Conversion
Currency
 
Latest
Expiration Date
Currency
 
Contract
 
Australian Dollar
 
Sell
 
6,392

 
6,489

 
5,798

 
(691
)
 
U.S.
 
March 2014
Euro
 
Sell
 
31,000

 
41,037

 
40,377

 
(660
)
 
U.S.
 
June 2014
Japanese Yen
 
Buy
 
905,000

 
9,885

 
9,137

 
747

 
U.S.
 
June 2014
Mexican Peso
 
Sell
 
3,345

 
265

 
255

 
(10
)
 
U.S.
 
December 2013