DERIVATIVES AND FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Jul. 02, 2016

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 loss and comprehensive loss for the three months ended July 2, 2016:

(In thousands)	Amount of (Loss) Gain Recognized in Accumulated Other Comprehensive Loss			Amount of (Loss) Gain Reclassified from Accumulated Other Comprehensive Loss into Earnings			Location in Consolidated Statements of Income and Comprehensive (Loss) Income	Amount of Gain (Loss) Excluded from Effectiveness Testing *			Location in Consolidated Statements of Income and Comprehensive Loss
Derivative Instruments
Designated foreign currency hedge contracts, net of tax	$	(1,933	)	$	(1,024	)	Net revenues, COGS, and SG&A	$	102		Interest and other expense, net
Non-designated foreign currency hedge contracts	—			—				(352		)	Interest and other expense, net
Designated interest rate swaps, net of tax	$	(116	)	$	—		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 July 2, 2016 and April 2, 2016:

(In thousands)	Location in Balance Sheet	As of July 2, 2016		As of April 2, 2016
Derivative Assets:
Designated foreign currency hedge contracts	Other current assets	$	561	$	427
Designated interest rate swaps	Other current assets	—		—
		$	561	$	427
Derivative Liabilities:
Designated foreign currency hedge contracts	Other current liabilities	$	4,817	$	4,056
Designated interest rate swaps	Other current liabilities	211		154
		$	5,028	$	4,210

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 July 2, 2016 and April 2, 2016.

	As of July 2, 2016
(In thousands)	Level 1		Level 2		Level 3		Total
Assets
Money market funds	$	67,018	$	—	$	—	$	67,018
Designated foreign currency hedge contracts	—		561		—		561
	$	67,018	$	561	$	—	$	67,579
Liabilities
Designated foreign currency hedge contracts	$	—	$	4,817	$	—	$	4,817
Designated interest rate swaps	—		211		—		211
	$	—	$	5,028	$	—	$	5,028
	As of April 2, 2016
	Level 1		Level 2		Level 3		Total
Assets
Money market funds	$	72,491	$	—	$	—	$	72,491
Designated foreign currency hedge contracts	—		427		—		427
Designated interest rate swaps	$	72,491	$	427	$	—	$	72,918
Liabilities
Designated foreign currency hedge contracts	$	—	$	4,056	$	—	$	4,056
Designated interest rate swaps	—		154		—		154
	$	—	$	4,210	$	—	$	4,210