DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

6 Months Ended

Dec. 28, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

As of December 28, 2019, the aggregate notional amount of the Company’s outstanding foreign currency contracts along with their unrealized gains are expected to mature as summarized below (in thousands):

Quarter Ending	Notional Contracts in MXN		Notional Contracts in USD		Estimated Fair Value
March 28, 2020	$	146,613	$	6,553	$	1,177
June 27, 2020	$	138,213	$	6,257	$	929
September 26, 2020	$	141,173	$	6,729	$	516
December 26, 2020	$	132,773	$	6,241	$	488

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 December 28, 2019 and June 29, 2019 (in thousands):

		December 28, 2019			June 29, 2019
Derivatives Designated as Hedging Instruments	Balance Sheet Location	Fair Value			Fair Value
Foreign currency forward contracts & swaps	Other current assets	$	3,110		$	2,912
Foreign currency forward contracts & swaps	Other long-term assets	$	—		$	320
Interest rate swap	Other current assets	$	6		$	2
Interest rate swap	Other current liabilities	$	(83	)	$	—
Interest rate swap	Other long-term liabilities	$	(17	)	$	—

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 December 28, 2019 and December 29, 2018, respectively (in thousands):

Derivatives Designated as Hedging Instruments	Classification of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	AOCI Balance as of September 28, 2019		Effective Portion Recorded In AOCI			Effective Portion Reclassified From AOCI Into Income			AOCI Balance as of December 28, 2019
Forward contracts & swaps	Cost of sales	$	1,479	$	1,533		$	(683	)	$	2,329
Interest rate swap	Interest expense	—		(71		)	(1		)	(72		)
Total		$	1,479	$	1,462		$	(684	)	$	2,257
Derivatives Designated as Hedging Instruments	Classification of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	AOCI Balance as of September 29, 2018		Effective Portion Recorded In AOCI			Effective Portion Reclassified From AOCI Into Income			AOCI Balance as of December 29, 2018
Forward contracts & swaps	Cost of sales	$	2,061	$	(1,266	)	$	383		$	1,178
Interest rate swap	Interest expense	19		(1		)	(5		)	13
Total		$	2,080	$	(1,267	)	$	378		$	1,191