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Venture Capital Investments and Marketable Securities
3 Months Ended
Mar. 26, 2016
Marketable Securities and Equity-Method Affiliates [Abstract]  
VENTURE CAPITAL INVESTMENTS AND MARKETABLE SECURITIES
VENTURE CAPITAL INVESTMENTS AND MARKETABLE SECURITIES
Venture Capital Investments
The Company invests in several venture capital funds that invest in start-up companies, primarily in the life sciences industry. The Company’s ownership interest in these funds ranges from 3.6% to 12.0%. The Company accounts for these investments, which are variable interest entities, under the equity method of accounting. The Company is not the primary beneficiary because it has no power to direct the activities that most significantly affect the funds’ economic performance.
The Company’s total commitments to the entities as of March 26, 2016 was $65.0 million, of which the Company funded $31.0 million through March 26, 2016. During the three months ended March 26, 2016 and March 28, 2015, the Company received no dividends from the entities.
Subsequent to March 26, 2016, the Company invested in new venture capital funds, which increased the Company’s total commitments by $10.6 million.
Marketable Securities
The following is a summary of the Company's marketable securities, all of which are classified as available-for-sale:
 
March 26, 2016
 
Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
 
(in thousands)
Mutual fund
$
4,650

 
$

 
$
(98
)
 
$
4,552

Total
$
4,650

 
$

 
$
(98
)
 
$
4,552


 
December 26, 2015
 
Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value
 
(in thousands)
Mutual fund
$
4,650

 
$

 
$
(141
)
 
$
4,509

Total
$
4,650

 
$

 
$
(141
)
 
$
4,509


There were no sales of available-for-sale securities during the three months ended March 26, 2016 or March 28, 2015.