Venture Capital Investments and Marketable Securities |
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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:
There were no sales of available-for-sale securities during the three months ended March 26, 2016 or March 28, 2015. |