Fair Value Measurements and Disclosures, and Financial Instruments (Tables)

6 Months Ended

Jun. 27, 2015

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:



	June 27, 2015								December 27, 2014
	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	$	1,699	$	—	$	—	$	1,699	$	610	$	—	$	—	$	610
Total cash equivalents	1,699		—		—		1,699		610		—		—		610

Marketable securities:
U.S. Treasury, U.S. Government and U.S. Government agency debt securities	2,500		20,032		—		22,532		2,497		20,537		—		23,034
Commercial paper, municipal securities and corporate debt securities	—		25,836		—		25,836		—		26,252		—		26,252
Total marketable securities	2,500		45,868		—		48,368		2,497		46,789		—		49,286

Total⁽¹⁾	$	4,199	$	45,868	$	—	$	50,067	$	3,107	$	46,789	$	—	$	49,896

Liabilities:
Contingent consideration payable	$	—	$	—	$	2,073	$	2,073	$	—	$	—	$	2,397	$	2,397

⁽¹⁾ Excludes $24.7 million and $34.1 million held in operating accounts as of June 27, 2015 and December 27, 2014, respectively.

Fair value measurement on recurring basis, unobservable input reconciliation



Changes in Level 3 liabilities (in thousands)
Fair value at December 27, 2014	$	2,397
Payments made to Zygo Corporation	(417		)
Change in fair value included in earnings	93
Fair value at June 27, 2015	$	2,073

Outstanding derivative instruments

The following table summarizes the Company’s outstanding derivative instruments on a gross basis as of June 27, 2015:



		Notional Principal
		(in millions)
Undesignated Hedges:
	Forward Foreign Currency Contracts	$	20.3