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DERIVATIVES FINANCIAL INSTRUMENTS (Tables)
 6 Months Ended
Mar. 28, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The fair value of derivative instruments on our Consolidated Condensed Balance Sheet as of March 28, 2020 and September 28, 2019 was as follows:
 
As of
 
March 28, 2020
 
September 28, 2019
(in thousands)
Notional Amount
 
Fair Value (Liability) Derivatives(1)
 
Notional Amount
 
Fair Value (Liability) Derivatives(1)
Derivatives designated as hedging instruments:
 
 
 
 
 
 
 
Foreign exchange forward contracts (2)
$
32,818

 
$
(1,702
)
 
$
33,834

 
$
(597
)
Total derivatives
$
32,818

 
$
(1,702
)
 
$
33,834

 
$
(597
)
(1)
The fair value of derivative liabilities is measured using level 2 fair value inputs and is included in accrued expenses and other current liabilities on our Consolidated Condensed Balance Sheet.
(2)
Hedged amounts expected to be recognized to income within the next twelve months.
Derivative Instruments, Gain (Loss)
The effects of derivative instruments designated as cash flow hedges in our Consolidated Condensed Statements of Comprehensive Income for the three and six months ended March 28, 2020 and March 30, 2019 are as follows:
 
Three months ended
 
Six months ended
(in thousands)
March 28, 2020
 
March 30, 2019
 
March 28, 2020
 
March 30, 2019
Foreign exchange forward contract in cash flow hedging relationships:
 
 
 
 
 
 
 
Net (loss)/gain recognized in OCI, net of tax(1)
$
(1,981
)
 
$
161

 
$
(1,374
)
 
$
88

Net loss reclassified from accumulated OCI into income, net of tax(2)
$
(72
)
 
$
(267
)
 
$
(269
)
 
$
(1,132
)
(1)
Net change in the fair value of the effective portion classified in other comprehensive income (“OCI”).
(2)
Effective portion classified as selling, general and administrative expense.