Employee and Director Benefit Plans

12 Months Ended

Jan. 03, 2015

Compensation and Retirement Disclosure [Abstract]

EMPLOYEE AND DIRECTOR BENEFIT PLANS

EMPLOYEE AND DIRECTOR BENEFIT PLANS

Cadence maintains various defined contribution plans for its eligible U.S. and non-U.S. employees. For employees in the United States, Cadence maintains a 401(k) savings plan to provide retirement benefits through tax-deferred salary deductions and may make discretionary contributions, as determined by the Board of Directors, which cannot exceed a specified percentage of the annual aggregate salaries of those employees eligible to participate. Cadence’s total contributions made to these plans during fiscal 2014, 2013 and 2012 were as follows:

	2014		2013		2012
	(In thousands)
Contributions to defined contribution plans	$	21,121	$	20,055	$	17,896

Executive Officers and Directors may also elect to defer compensation payable to them under Cadence’s NQDC. Deferred compensation payments are held in investment accounts and the values of the accounts are adjusted each quarter based on the fair value of the investments held in the NQDC. These investments are classified as trading securities in the consolidated balance sheets and gains and losses are recognized as other income, net in the consolidated income statements. Net recognized gains of trading securities during fiscal 2014, 2013 and 2012 were as follows:

	2014		2013		2012
	(In thousands)
Trading securities	$	3,415	$	3,293	$	4,453

Certain of Cadence’s international subsidiaries sponsor defined benefit retirement plans. The unfunded projected benefit obligation for Cadence’s defined benefit retirement plans is recorded in other long-term liabilities in the consolidated balance sheets. The unfunded projected benefit obligation for these retirement plans as of January 3, 2015, December 28, 2013 and December 29, 2012 was as follows:

	January 3, 2015		December 28, 2013		December 29, 2012
	(In thousands)
Unfunded projected benefit obligation - defined benefit retirement plans	$	6,794	$	7,160	$	9,400

Cadence recorded total expense related to these defined benefit retirement plans during fiscal 2014, 2013 and 2012 as follows:

	2014		2013		2012
	(In thousands)
Expense related to defined benefit retirement plans	$	1,799	$	1,817	$	1,580