Fair Value

Whenever possible, the fair values of our financial assets and liabilities are determined using quoted market prices of identical securities or quoted market prices of similar securities from active markets. The three levels of inputs that may be used to measure fair value are as follows:


•	Level 1 valuations are obtained from real-time quotes for transactions in active exchange markets involving identical securities;


•	Level 2 valuations utilize significant observable inputs, such as quoted prices for similar assets or liabilities, quoted prices near the reporting date in markets that are less active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities; and


•	Level 3 valuations utilize unobservable inputs to the valuation methodology and include our own data about assumptions market participants would use in pricing the asset or liability based on the best information available under the circumstances.

We did not have any transfers of assets or liabilities measured at fair value on a recurring basis to or from Level 1, Level 2 or Level 3 during fiscal 2017, 2016 or 2015.

The carrying values of Cash, Accounts receivable, net, Restricted cash, Prepaid expenses and other current assets, Accounts payable and Accrued liabilities approximate fair value due to their short maturities.

No changes were made to our valuation techniques during fiscal 2017.

Cash Equivalents

The fair value of our cash equivalents is determined based on quoted market prices for similar or identical securities.

Marketable Securities

We classify our marketable securities as available-for-sale and value them utilizing a market approach. Our investments are priced by pricing vendors who provide observable inputs for their pricing without applying significant judgment. Broker pricing is used mainly when a quoted price is not available, the investment is not priced by our pricing vendors or when a broker price is more reflective of fair value. Our broker-priced investments are categorized as Level 2 investments because fair value is based on similar assets without applying significant judgments. In addition, all of our investments have a sufficient level of trading volume to demonstrate that the fair value is appropriate.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Assets measured at fair value on a recurring basis were as follows (in thousands):



December 30, 2017	Level 1		Level 2		Total
Assets:
Cash equivalents:
Money market funds	$	1,064	$	—	$	1,064
Corporate bonds			774		774
	1,064		774		1,838
Marketable securities:
U.S. Treasuries	3,963		—		3,963
Certificates of deposit	—		957		957
Agency securities	—		10,432		10,432
Corporate bonds	—		30,636		30,636
Commercial paper	—		3,000		3,000
	3,963		45,025		48,988
Foreign exchange derivative contract	—		31		31
Interest rate swap derivative contracts	—		1,043		1,043
Total assets	$	5,027	$	46,873	$	51,900



December 31, 2016	Level 1		Level 2		Total
Assets:
Cash equivalents:
Money market funds	$	19,350	$	—	$	19,350
Marketable securities:
U.S. Treasuries	—		7,497		7,497
Foreign exchange derivative contracts	—		1,137		1,137
Interest rate swap derivative contracts	—		838		838
Total	$	19,350	$	9,472	$	28,822

We did not have any liabilities measured at fair value on a recurring basis at December 30, 2017 or December 31, 2016.

Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis

We measure and report goodwill and intangible assets at fair value on a non-recurring basis if we determine these assets to be impaired or in the period when we make a business acquisition. Other than as discussed in Note 4 and Note 7, there were no assets or liabilities measured at fair value on a nonrecurring basis during fiscal 2017, 2016 or 2015.