Fair Value Measurements and Disclosures (Tables)

9 Months Ended

Sep. 27, 2014

Assets and liabilities measurements at estimated fair value on recurring basis excluding accrued interest components

The following tables present the Company’s assets and liabilities measured at estimated fair value on a recurring basis, excluding accrued interest components, categorized in accordance with the fair value hierarchy (in thousands), as of the following dates:



	September 27, 2014								December 28, 2013
	Fair Value Measurements Using Input Types								Fair Value Measurements Using Input Types
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	549	$	—	$	—	$	549	$	876	$	—	$	—	$	876
Commercial paper	—		650		—		650		—		750		—		750
Total cash equivalents	549		650		—		1,199		876		750		—		1,626

Marketable securities:
U.S. Treasury, U.S. Government and U.S. Government agency debt securities	2,498		18,687		—		21,185		5,036		11,980		—		17,016
Commercial paper, municipal securities and corporate debt securities	—		27,563		—		27,563		—		31,081		—		31,081
Total marketable securities	2,498		46,250		—		48,748		5,036		43,061		—		48,097
Total ⁽¹⁾	$	3,047	$	46,900	$	—	$	49,947	$	5,912	$	43,811	$	—	$	49,723

Liabilities:
Contingent consideration payable	$	—	$	—	$	2,431	$	2,431	$	—	$	—	$	2,783	$	2,783

⁽¹⁾Excludes cash of $34.4 million and $43.1 million held in operating accounts as of September 27, 2014 and December 28, 2013, respectively.

Fair value measurement on recurring basis, unobservable input reconciliation



Changes in Level 3 liabilities (in thousands)
Fair value at December 28, 2013	$	2,783
Payments made to Zygo Corporation	(470		)
Change in fair value included in earnings	118
Fair Value at September 27, 2014	$	2,431

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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