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Fair Value Measurements
3 Months Ended
Mar. 26, 2022
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
The following tables represent the Company’s fair value hierarchy for its assets and liabilities measured at fair value on a recurring basis (in thousands): 
 As of March 26, 2022As of December 25, 2021
 Fair Value Measured UsingFair Value Measured Using
 Level 1Level 2TotalLevel 1Level 2Total
Assets (Liabilities)
Foreign currency exchange forward contracts$— $(2)$(2)$— $(221)$(221)
Disclosure of Fair Values
Financial instruments that are not re-measured at fair value include accounts receivable, accounts payable, accrued liabilities, and debt. The carrying values of these financial instruments other than the Company's 2024 Notes and 2027 Notes (collectively referred to as "convertible senior notes" below) approximate their fair values. The fair value of convertible senior notes were determined based on the quoted bid price of the convertible senior notes in an over-the-counter market on March 25, 2022 (the last trading day of the quarter).

The following table presents the estimated fair values of the convertible senior notes (in thousands): 
As of March 26, 2022As of December 25, 2021
 Fair Value Measured UsingFair Value Measured Using
 Level 1Level 2TotalLevel 1Level 2Total
Convertible Senior Notes$— $720,392 $720,392 $— $765,412 $765,412 
During the three-months ended March 26, 2022, there were no transfers of assets or liabilities between Level 1 and Level 2 of the fair value hierarchy. As of each of March 26, 2022 and December 25, 2021, none of the Company’s existing assets or liabilities were classified as Level 3.
The Company measures goodwill and intangible assets at fair value on a nonrecurring basis when there are identifiable events or changes in circumstances that may have a significant adverse impact on the fair value of these assets. The Company performed an analysis of impairment indicators of these assets and noted no adverse impact to their fair values as of March 26, 2022.    
Facilities-related Charges
The Company classifies certain facilities-related charges within Level 3 of the fair value hierarchy and applies fair value accounting on a nonrecurring basis when impairment indicators exist or upon the existence of observable fair values.
In connection with its restructuring plans (as discussed in Note 9, “Restructuring and Other Related Costs” to the Notes to Condensed Consolidated Financial Statements), the Company incurred facilities related charges of $5.6 million and $2.0 million for the three-months ended March 26, 2022 and March 27, 2021, respectively. These charges primarily consisted of impairment charges incurred for operating lease right-of-use assets and were calculated at fair value based on estimated future sublease rental receipts that the Company could reasonably obtain over the remaining lease term at the discount rate. Facilities-related charges are classified as Level 3 measurement due to the significance of these unobservable inputs. See Note 9, "Restructuring and Other Related Costs" to the Notes to Condensed Consolidated Financial Statements for more information.
Cash
As of March 26, 2022, the Company had $204.0 million of cash and restricted cash, including $75.3 million of cash held by its foreign subsidiaries.
As of December 25, 2021, the Company had $202.5 million of cash and restricted cash, including $77.6 million of cash held by its foreign subsidiaries. The Company's cash held by its foreign subsidiaries is used for operating and investing activities in those locations, and the Company does not currently have the need or the intent to repatriate those funds to the United States.