Fair Value Measurements (Tables)

6 Months Ended

Jun. 28, 2020

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table summarizes the financial assets and liabilities required to be measured at fair value on a recurring basis as of June 28, 2020 (in thousands):


	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
Assets:
Money market instruments	$	50,222	$	—	$	—
Corporate bonds	—		236,660
Treasury bills	—		230,692		—
Asset-backed securities	—		91,610		—

Sovereign bonds	—		27,517		—
Agency bonds	—		22,054		—
Municipal bonds	—		1,638



Economic hedge forward contracts	—		46		—
Liabilities:

Economic hedge forward contracts	—		458		—
Contingent consideration liabilities	—		—		—

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The fair value of the contingent consideration liability related to the Company's acquisition of GVi Ventures, Inc. was written down to zero as of December 31, 2019 resulting from a lower level of revenue in the Americas' automotive industry, and the balance remains at zero as of June 28, 2020. The undiscounted potential outcomes related to future contingent consideration range from $0 to $2,500,000 based upon certain revenue levels over the next two years.