XML 38 R27.htm IDEA: XBRL DOCUMENT v3.5.0.2
DERIVATIVE FINANCIAL INSTRUMENTS (Tables)
 3 Months Ended
Oct. 01, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Summerized Fair Value of Derivative Instruments in Consolidated Balance Sheets
The following table summarizes the fair value of derivative instruments in the Consolidated Balance Sheet as of October 1, 2016 and July 2, 2016 (in thousands):
 
 
 
October 1, 2016
 
July 2, 2016
Derivatives Designated as Hedging Instruments
Balance Sheet Location
 
Fair Value
 
Fair Value
Foreign currency forward contracts
Other long-term assets
 
$
—

 
$
136

Foreign currency forward contracts
Other current liabilities
 
$
(5,707
)
 
$
(4,670
)
Foreign currency forward contracts
Other long-term liabilities
 
$
(6,907
)
 
$
(6,442
)
Interest rate swap
Other current liabilities
 
$
(215
)
 
$
(264
)
Interest rate swap
Other long-term liabilities
 
$
(161
)
 
$
(234
)
Gain (Loss) of Derivative Instruments in Statement of Operations
The following tables summarize the gain (loss) on derivative instruments, net of tax, on the Consolidated Statements of Income for the three months ended October 1, 2016 and September 26, 2015, respectively (in thousands):
 
Derivatives Designated as Hedging Instruments
Classification of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)
 
AOCI Balance
as of
July 2, 2016
 
Effective
Portion
Recorded In
AOCI
 
Effective Portion
Reclassified From
AOCI Into
Income
 
AOCI Balance
as of
October 1, 2016
Forward contracts
Cost of sales
 
$
(7,245
)
 
$
(2,189
)
 
$
1,109

 
$
(8,325
)
Interest rate swap
Interest expense
 
(328
)
 
(1
)
 
81

 
(248
)
Total
 
 
$
(7,573
)
 
$
(2,190
)
 
$
1,190

 
$
(8,573
)
 
 
 
 
 
 
 
 
 
 
Derivatives Designated as Hedging Instruments
Classification of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)
 
AOCI Balance
as of
June 27, 2015
 
Effective
Portion
Recorded In
AOCI
 
Effective Portion
Reclassified From
AOCI Into
Income
 
AOCI Balance
as of
September 26, 2015
Forward contracts
Cost of sales
 
$
(4,487
)
 
$
(2,165
)
 
$
(684
)
 
$
(7,336
)
Interest rate swap
Interest expense
 
(276
)
 
(131
)
 
—

 
(407
)
Total
 
 
$
(4,763
)
 
$
(2,296
)
 
$
(684
)
 
$
(7,743
)