Fair Value (Tables)

3 Months Ended

Apr. 03, 2021

Fair Value Disclosures [Abstract]

Fair value of financial assets and liabilities

The fair value of financial assets and liabilities was determined using the following levels of inputs as of April 3, 2021 and January 2, 2021:

	Fair Value Measurements as of April 3, 2021
	Total		Level 1		Level 2		Level 3
	(In thousands)
Assets
Cash equivalents:
Money market funds	$	283,039	$	283,039	$	—	$	—
Marketable equity securities	5,467		5,467		—		—
Securities held in Non-Qualified Deferred Compensation (“NQDC”) trust	44,301		44,301		—		—
Total Assets	$	332,807	$	332,807	$	—	$	—
	Total		Level 1		Level 2		Level 3
	(In thousands)
Liabilities
Foreign currency exchange contracts	$	7,430	$	—	$	7,430	$	—
Total Liabilities	$	7,430	$	—	$	7,430	$	—
	Fair Value Measurements as of January 2, 2021
	Total		Level 1		Level 2		Level 3
	(In thousands)
Assets
Cash equivalents:
Money market funds	$	541,386	$	541,386	$	—	$	—
Marketable equity securities	4,452		4,452		—		—
Securities held in NQDC trust	42,769		42,769		—		—
Foreign currency exchange contracts	8,868		—		8,868		—
Total Assets	$	597,475	$	588,607	$	8,868	$	—
As of January 2, 2021, Cadence did not have any financial liabilities requiring a recurring fair value measurement.