Derivative Financial Instruments (Tables)

3 Months Ended

Jun. 27, 2015

Fair Value of Derivative Contracts Recorded on Gross Basis in Consolidated Balance Sheets

The following table details the fair value of the Company’s derivative contracts, which are recorded on a gross basis in the consolidated balance sheets as of June 27, 2015 and March 28, 2015 (in thousands):


					Fair Values
	Notional Amounts				Current Assets ⁽¹⁾				Current Liabilities ⁽²⁾
	June 27, 2015		March 28, 2015		June 27, 2015		March 28, 2015		June 27, 2015		March 28, 2015
Designated forward currency exchange contracts	$	295,785	$	226,090	$	8,546	$	23,590	$	137	$	522
Undesignated forward currency exchange contracts		12,264		25,788		382		1,414		20		78

Total	$	308,049	$	251,878	$	8,928	$	25,004	$	157	$	600

⁽¹⁾

Recorded within prepaid expenses and other current assets in the Company’s audited consolidated balance sheets.

⁽²⁾	Recorded within accrued expenses and other current liabilities in the Company’s audited consolidated balance sheets.

Impact of Effective Portion of Gains and Losses of Forward Contracts Designated as Hedges

The following table summarizes the impact of the effective portion of gains and losses of the forward contracts designated as hedges for the three-month periods ended June 27, 2015 and June 28, 2014 (in thousands):


	Three Months Ended
	June 27, 2015						June 28, 2014
	Pre-Tax Loss Recognized in OCI (Effective Portion)			Pre-Tax Loss Reclassified from Accumulated OCI into Earnings (Effective Portion)			Pre-Tax Gain Recognized in OCI (Effective Portion)		Pre-Tax Loss Reclassified from Accumulated OCI into Earnings (Effective Portion)
Forward currency exchange contracts		(11,706	)		(48	)	$	539	$	(1,134	)