Financial Instruments (Tables)

12 Months Ended

Dec. 28, 2019

Cash Flow Hedges Derivative Instruments at Fair Value, Net [Abstract]

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

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

	December 28, 2019
	Amortized Cost		Unrealized Holding Gains		Unrealized Holding Losses		Fair Value
	(in thousands)
Cash and cash equivalents:
Cash	$	16,512	$	—	$	—	$	16,512
Money market funds		3,255		—		—		3,255
Total cash and cash equivalents	$	19,767	$	—	$	—	$	19,767
Short-term investments:
Certificates of deposit	$	3,000	$	1	$	—	$	3,001
Commercial paper		1,891		2		—		1,893
Corporate bonds and medium-term notes		6,383		25		—		6,408
U.S. treasury and agency securities		5,417		1		—		5,418
Total short-term investments	$	16,691	$	29	$	—	$	16,720
Long-term investments:
Certificates of deposit	$	499	$	1	$	—	$	500
Corporate bonds and medium-term notes		2,530		12		—		2,542
U.S. treasury and agency securities		2,494		1		—		2,495
Total long-term investments	$	5,523	$	14	$	—	$	5,537
Total cash, cash equivalents, and investments	$	41,981	$	43	$	—	$	42,024

	December 29, 2018
	Amortized Cost		Unrealized Holding Gains		Unrealized Holding Losses		Fair Value
	(in thousands)
Cash and cash equivalents:
Cash	$	13,334	$	—	$	—	$	13,334
Money market funds		3,335		—		—		3,335
U.S. treasury and agency securities		2,046		—		—		2,046
Total cash and cash equivalents	$	18,715	$	—	$	—	$	18,715
Short-term investments:
Certificates of deposit	$	5,299	$	1	$	1	$	5,299
Commercial paper		2,242		—		1		2,241
Corporate bonds and medium-term notes		4,759		—		13		4,746
Municipal bonds		500		—		2		498
U.S. treasury and agency securities		3,297		—		5		3,292
Total short-term investments	$	16,097	$	1	$	22	$	16,076
Long-term investments:
Certificates of deposit	$	500	$	—	$	—	$	500
Corporate bonds and medium-term notes		2,879		4		4		2,879
U.S. treasury and agency securities		999		—		6		993
Total long-term investments	$	4,378	$	4	$	10	$	4,372
Total cash, cash equivalents, and investments	$	39,190	$	5	$	32	$	39,163

Contractual Maturities of Available-for-Sale Securities

The contractual maturities of available-for-sale securities at December 28, 2019 are presented in the following table.

	Amortized Cost		Fair Value
	(in thousands)
Due in one year or less	$	19,946	$	19,975
Due after one through five years		5,523		5,537
	$	25,469	$	25,512

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 December 28, 2019.

	Fair Value Measurements at December 28, 2019
	Total		Level 1		Level 2
	(in thousands)
Recurring fair value measurements:
Available-for-sale securities
Money market funds	$	3,255	$	3,255	$	—
U.S. treasury and agency securities		7,913		7,913		—
Certificates of deposit		3,501		—		3,501
Commercial paper		1,893		—		1,893
Corporate bonds and medium-term notes		8,950		—		8,950
Total recurring fair value measurements	$	25,512	$	11,168	$	14,344

Summary of Outstanding Derivative Instruments on Gross Basis as Recorded in Consolidated Balance Sheets

The following table summarizes the Company’s outstanding derivative instruments on a gross basis as recorded in its consolidated balance sheets as of December 28, 2019 and December 29, 2018:

	Notional Amounts				Derivative Liabilities
Derivative Instrument	December 28, 2019		December 29, 2018		December 28, 2019				December 29, 2018
					Balance Sheet Line		Fair Value		Balance Sheet Line		Fair Value
	(In thousands)
Undesignated Hedges:
Forward Foreign Currency Contracts	$	1,035		1,764		*	$	4		*	$	8
Total Hedges	$	1,035		1,764			$	4			$	8

* Other accrued liabilities