DERIVATIVES AND FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Sep. 26, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Effect of Derivative Instruments Designated as Cash Flow Hedges and Those Not Designated as Hedging Instruments

The following table presents the effect of our derivative instruments designated as cash flow hedges and those not designated as hedging instruments under ASC Topic 815 in our consolidated statements of income and comprehensive income for the six months ended September 26, 2015:

(In thousands)	Amount of Loss Recognized in Accumulated Other Comprehensive Loss			Amount of Gain Reclassified from Accumulated Other Comprehensive Loss into Retained Earnings		Location in Consolidated Statements of Income and Comprehensive (Loss) Income	Amount of Gain Excluded from Effectiveness Testing *		Location in Consolidated Statements of Income and Comprehensive (Loss) Income
Derivative Instruments
Designated foreign currency hedge contracts, net of tax	$	(1,243	)	$	6,592	Net revenues, COGS, and SG&A	$	12	Interest and other expense, net
Non-designated foreign currency hedge contracts	—			—			785		Interest and other expense, net
Designated interest rate swaps, net of tax	$	(243	)	$	—	Interest and other expense, net	$	—

*   We exclude the difference between the spot rate and hedge forward rate from our effectiveness testing.

Schedule of Fair Value of Derivative Instruments as They Appear in Consolidated Balance Sheets

The following tables present the fair value of our derivative instruments as they appear in our consolidated balance sheets as of September 26, 2015 and March 28, 2015:

(In thousands)	Location in Balance Sheet	September 26, 2015		March 28, 2015
Derivative Assets:
Designated foreign currency hedge contracts	Other current assets	$	2,620	$	9,740
		$	2,620	$	9,740
Derivative Liabilities:
Designated foreign currency hedge contracts	Other current liabilities	$	2,870	$	2,499
Designated interest rate swaps	Other current liabilities	548		159
		$	3,418	$	2,658

Schedule of Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis

Financial assets and financial liabilities measured at fair value on a recurring basis consist of the following as of September 26, 2015 and March 28, 2015.

	As of September 26, 2015								As of March 28, 2015
(In thousands)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets
Money market funds	$	63,180	$	—	$	—	$	63,180	$	119,946	$	—	$	—	$	119,946
Designated foreign currency hedge contracts	—		2,620		—		2,620		—		9,740		—		9,740
	$	63,180	$	2,620	$	—	$	65,800	$	119,946	$	9,740	$	—	$	129,686
Liabilities
Designated foreign currency hedge contracts	$	—	$	2,870	$	—	$	2,870	$	—	$	2,499	$	—	$	2,499
Designated interest rate swaps	—		548		—		548		—		159		—		159
Contingent consideration	—		—		4,898		4,898		—		—		4,727		4,727
	$	—	$	3,418	$	4,898	$	8,316	$	—	$	2,658	$	4,727	$	7,385

Schedule of Fair Value Measurements Using Significant Unobservable Inputs (Level 3)

The table below provides a reconciliation of the beginning and ending Level 3 liabilities for the six months ended September 26, 2015.

(In thousands)	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Contingent consideration as of March 28, 2015	$	4,727
Fair value adjustment	171
Ending balance	$	4,898