DERIVATIVES AND FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Jul. 02, 2011

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance

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 statement of income for the three months ended July 2, 2011.

				Amount of Loss
	Amount of Loss			Reclassified				Amount
	Recognized			from AOCI into			Location in	Excluded from			Location in
	in AOCI			Earnings			Statement of	Effectiveness			Statement of
Derivative Instruments	(Effective Portion)			(Effective Portion)			Operations	Testing (*)			Operations
(in thousands)
Designated foreign currency hedge contracts	$	(1,323	)	$	(1,637	)	Net revenues,	$	(41	)	Other income
							COGS, and
							SG&A
Non-designated foreign currency hedge contracts		—			—				591		Other expense
	$	(1,323	)	$	(1,637	)		$	550

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

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value

The following tables present the fair value of our derivative instruments as they appear in our consolidated balance sheet as of July 2, 2011 and April 2, 2011 by type of contract and whether it is a qualifying hedge under ASC Topic 815.

	Location in	Balance as of		Balance as of
(in thousands)	Balance Sheet	July 2, 2011		April 2, 2011
Derivative Assets:
Designated foreign currency hedge contracts	Other current assets	$	2,475	$	2,563
		$	2,475	$	2,563
Derivative Liabilities:
Designated foreign currency hedge contracts	Other accrued liabilities	$	3,707	$	4,174
		$	3,707	$	4,174

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Financial assets and financial liabilities measured at fair value on a recurring basis consist of the following as of July 2, 2011:

			Significant
	Quoted Market		Other		Significant
	Prices for		Observable		Unobservable
	Identical Assets		Inputs		Inputs
(in thousands)	(Level 1)		(Level 2)		(Level 3)		Total
Assets
Money market funds	$	170,823	$	—	$	—	$	170,823
Forward currency exchange contracts		—		2,475		—		2,475
	$	170,823	$	2,475	$	—	$	173,298
Liabilities
Forward currency exchange contracts	$	—	$	3,707	$	—	$	3,707
Other liabilities — contingent consideration		—		—		2,338		2,338
	$	—	$	3,707	$	2,338	$	6,045

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The table below provides a reconciliation of the beginning and ending Level 3 liabilities for the three months ended July 2, 2011.

	Fair Value
	Measurements
	Using Significant
	Unobservable
	Inputs
(in thousands)	(Level 3)
Beginning balance	$	2,284
Accretion of interest expense on contingent consideration		89
Change in value		(35	)
Ending balance	$	2,338