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Fair Value Measurements and Disclosures, and Financial Instruments (Tables)
 9 Months Ended
Sep. 26, 2015
Fair Value Disclosures [Abstract]  
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 26, 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
$
642

 
$
—

 
$
—

 
$
642

 
$
610

 
$
—

 
$
—

 
$
610

   Commercial paper
—

 
6,434

 
—

 
6,434

 
—

 
—

 
—

 
—

Total cash equivalents
642

 
6,434

 
—

 
7,076

 
610

 
—

 
—

 
610

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Marketable securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   U.S. Treasury, U.S. Government and U.S. Government agency debt securities
—

 
21,684

 
—

 
21,684

 
2,497

 
20,537

 
—

 
23,034

   Commercial paper, municipal securities and corporate debt securities
—

 
21,381

 
—

 
21,381

 
—

 
26,252

 
—

 
26,252

Total marketable securities
—

 
43,065

 
—

 
43,065

 
2,497

 
46,789

 
—

 
49,286

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 Total(1)
$
642

 
$
49,499

 
$
—

 
$
50,141

 
$
3,107

 
$
46,789

 
$
—

 
$
49,896

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Contingent consideration payable
$
—

 
$
—

 
$
1,920

 
$
1,920

 
$
—

 
$
—

 
$
2,397

 
$
2,397


(1) Excludes $34.5 million and $34.1 million held in operating accounts as of September 26, 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
(614
)
Change in fair value included in earnings
137

Fair value at September 26, 2015
$
1,920
Outstanding derivative instruments
The following table summarizes the Company’s outstanding derivative instruments on a gross basis as of September 26, 2015:
 
 
 
Notional Principal
 
 
 
(in millions)
Undesignated Hedges:
 
 
Forward Foreign Currency Contracts
$
25.1