Fair Value Measurements (Notes)

6 Months Ended

Jun. 29, 2019

Fair Value Footnote [Abstract]

Fair Value Disclosures [Text Block]

Fair Value Measurements

The Company’s financial assets and liabilities measured at fair value on a recurring basis at June 29, 2019, were as follows (in thousands):

	Fair Value Measurements as of June 29, 2019
	Level 1		Level 2 (1)		Level 3 (2)
Assets:
Corporate and government bonds, $24,018 at cost (3)	$	—	$	23,984	$	—
Derivative instruments (Note 8)	—		5,135		—
Total assets measured at fair value	$	—	$	29,119	$	—
Liabilities:
Derivative instruments (Note 8)	$	—	$	2,533	$	—
Total liabilities measured at fair value	$	—	$	2,533	$	—

The Company’s financial assets and liabilities measured at fair value on a recurring basis at December 29, 2018, were as follows (in thousands):

	Fair Value Measurements as of December 29, 2018
	Level 1		Level 2 (1)		Level 3 (2)
Assets:
Money market funds	$	3,730	$	—	$	—
Corporate and government bonds, $30,035 at cost	—		29,605		—
Convertible note	—		—		2,000
Derivative instruments (Note 8)	—		776		—
Total assets measured at fair value	$	3,730	$	30,381	$	2,000
Liabilities:
Derivative instruments (Note 8)	$	—	$	1,130	$	—
Total liabilities measured at fair value	$	—	$	1,130	$	—

(1) Level 2 fair value estimates are based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

(2) Level 3 fair value estimates are based on inputs that are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. The fair values are therefore determined using model-based techniques, including option pricing and discounted cash flow models. Unobservable inputs used in the models are significant to the fair values of the assets and liabilities.

(3) As of June 29, 2019, the Company’s investments had maturity dates ranging from August 2019 to March 2021.

The following table provides a summary of changes in fair value of our Level 3 investment for the six months ended June 29, 2019 (in thousands):

Balance as of December 29, 2018	$	2,000
Conversion of convertible note	(2,000		)
Balance as of June 29, 2019	$	—