Cash, Cash Equivalents and Investments (Tables)

6 Months Ended

Jul. 02, 2016

Cash, Cash Equivalents and Short-Term Investments and Long-Term Investments

Cash and cash equivalents, short-term investments and long-term investments consist of:

	July 2, 2016
	Amortized Cost		Unrealized Holding Gains		Unrealized Holding Losses		Fair Value
	(In thousands)
Cash and cash equivalents:
Cash	$	9,442	$	—	$	—	$	9,442
Money market funds		9,291		—		—		9,291
Total cash and cash equivalents	$	18,733	$	—	$	—	$	18,733
Short-term investments:
Commercial paper	$	1,091	$	—	$	1	$	1,090
Corporate bonds and medium-term notes		6,651		3		1		6,653
Municipal bonds		3,135		1		—		3,136
U.S. treasury and agency securities		5,773		4		1		5,776
Total short-term investments	$	16,650	$	8	$	3	$	16,655
Long-term investments:
Corporate bonds and medium-term notes	$	5,214	$	12	$	—	$	5,226
Total long-term investments	$	5,214	$	12	$	—	$	5,226
Total cash, cash equivalents, and investments	$	40,597	$	20	$	3	$	40,614

	January 2, 2016
	Amortized Cost		Unrealized Holding Gains		Unrealized Holding Losses		Fair Value
	(In thousands)
Cash and cash equivalents:
Cash	$	6,208	$	—	$	—	$	6,208
Money market funds		7,538		—		—		7,538
Total cash and cash equivalents	$	13,746	$	—	$	—	$	13,746
Short-term investments:
Corporate bonds and medium-term notes	$	9,978	$	—	$	7	$	9,971
Municipal bonds		4,238		—		—		4,238
U.S. treasury and agency securities		8,999		—		—		8,999
Total short-term investments	$	23,215	$	—	$	7	$	23,208
Long-term investments:
Corporate bonds and medium-term notes	$	6,212	$	—	$	23	$	6,189
U.S. treasury and agency securities		3,494		—		10		3,484
Total long-term investments	$	9,706	$	—	$	33	$	9,673
Total cash, cash equivalents, and investments	$	46,667	$	—	$	40	$	46,627

Contractual Maturities of Available-for-Sale Securities

The contractual maturities of available-for-sale securities at July 2, 2016 are presented in the following table.

	Amortized Cost		Fair Value
	(In thousands)
Due in one year or less	$	25,941	$	25,946
Due after one through two years		5,214		5,226
	$	31,155	$	31,172

Fair Market Value of Investments with Unrealized Losses Not Deemed to be Other-Than Temporarily Impaired

The following table provides the fair market value of Intevac’s investments with unrealized losses that are not deemed to be other-than temporarily impaired as of July 2, 2016.

	July 2, 2016
	In Loss Position for Less than 12 Months				In Loss Position for Greater than 12 Months
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
	(In thousands)
Commercial paper	$	1,090	$	1	$	—	$	—
Corporate bonds and medium-term notes		3,214		1		—		—
U.S. treasury and agency securities		1,271		1		—		—
	$	5,575	$	3	$	—	$	—

Fair Value Hierarchy of Available-for-Sale Securities Measured at Fair Value on Recurring Basis

The following table represents the fair value hierarchy of Intevac’s available-for-sale securities measured at fair value on a recurring basis as of July 2, 2016.

	Fair Value Measurements at July 2, 2016
	Total		Level 1		Level 2
	(In thousands)
Recurring fair value measurements:
Available-for-sale securities
Money market funds	$	9,291	$	9,291	$	—
U.S. treasury and agency securities		5,776		3,501		2,275
Commercial paper		1,090		—		1,090
Corporate bonds and medium-term notes		11,879		—		11,879
Municipal bonds		3,136		—		3,136
Total recurring fair value measurements	$	31,172	$	12,792	$	18,380