DERIVATIVE FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Sep. 26, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments

As of September 26, 2020, the aggregate notional amount of the Company’s outstanding foreign currency contracts along with their unrealized gains (losses) are expected to mature as summarized below (in thousands):

Quarter Ending	Notional Contracts in MXN		Notional Contracts in USD		Estimated Fair Value
December 26, 2020	$	132,773	$	6,241	$	(333)
April 3, 2021	$	148,253	$	6,682	$	(161)
July 3, 2021	$	144,725	$	6,446	$	(134)
October 2, 2021	$	146,373	$	5,502	$	805
January 1, 2022	$	137,973	$	5,129	$	754

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 September 26, 2020 and June 27, 2020 (in thousands):

		September 26, 2020		June 27, 2020
Derivatives Designated as Hedging Instruments	Balance Sheet Location	Fair Value		Fair Value
Foreign currency forward contracts	Other current assets	$	771	$	—
Foreign currency forward contracts	Other long-term assets	$	788	$	1,097
Foreign currency forward contracts	Other current liabilities	$	(628)	$	(1,960)
Foreign currency forward contracts	Other long-term liabilities	$	—	$	(17)
Interest rate swap	Other current liabilities	$	—	$	(347)
Interest rate swap	Other long-term liabilities	$	—	$	(610)

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 September 26, 2020 and September 28, 2019, respectively (in thousands):

Derivatives Designated as Hedging Instruments	Classification of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	AOCI Balance as of June 27, 2020		Effective Portion Recorded In AOCI		Effective Portion Reclassified From AOCI Into Income		AOCI Balance as of September 26, 2020
Forward contracts	Cost of sales	$	(759)	$	1,043	$	359	$	643
Interest rate swap	Interest expense	(741)		(223)		89		(875)
Total		$	(1,500)	$	820	$	448	$	(232)
Derivatives Designated as Hedging Instruments	Classification of Gain (Loss) Reclassified from Accumulated OCI into Income (Effective Portion)	AOCI Balance as of June 29, 2019		Effective Portion Recorded In AOCI		Effective Portion Reclassified From AOCI Into Income		AOCI Balance as of September 28, 2019
Forward contracts	Cost of sales	$	2,424	$	(41)	$	(904)	$	1,479
Interest rate swap	Interest expense	2		—		(2)		—
Total		$	2,426	$	(41)	$	(906)	$	1,479