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Fair value measurement (Tables)

9 Months Ended

Sep. 26, 2021

Financial Assets and Liabilities Carried at Fair Value Measured on Recurring Basis

The following tables provide information regarding our financial assets and liabilities measured at fair value on a recurring basis as of September 26, 2021 and December 31, 2020:


	Total carrying value at September 26, 2021		Quoted prices in active markets (Level 1)		Significant other observable Inputs (Level 2)		Significant unobservable Inputs (Level 3)
Investments in marketable securities	$	18,467	$	18,467	$	—	$	—
Derivative assets	26,895		—		26,895		—
Derivative liabilities	10,919		—		10,919		—
Contingent consideration liabilities	14,180		—		—		14,180


	Total carrying value at December 31, 2020		Quoted prices in active markets (Level 1)		Significant other observable Inputs (Level 2)		Significant unobservable Inputs (Level 3)
Investments in marketable securities	$	12,617	$	12,617	$	—	$	—
Derivative assets	21,858		—		21,858		—
Derivative liabilities	35,995		—		35,995		—
Contingent consideration liabilities	36,633		—		—		36,633

Schedule of Valuation Techniques

The table below provides additional information regarding the valuation technique and inputs used in determining the fair value of contingent consideration.

Contingent Consideration Liability

Valuation Technique

Unobservable Input

Range (Weighted average)

Milestone-based payments

Discounted cash flow

Discount rate

1.5% - 1.8% (1.7%)

Projected year of payment

2022 - 2023

Revenue-based payments

Discounted cash flow

Discount rate

1.8% - 10.0% (4.7%)

Projected year of payment

2021 - 2029

Reconciliation of Changes in Level 3 Financial Liabilities Measured at Fair Value on Recurring Basis

The following table provides information regarding changes in the contingent consideration liabilities during the nine months ended September 26, 2021:


	Contingent consideration

Balance - December 31, 2020	$	36,633
Payments (1)	(31,558)
Revaluations and other adjustments	9,148
Translation adjustments	(43)
Balance - September 26, 2021	$	14,180

(1) Includes $17.4 million payment associated with a settlement reached with the shareholders from whom we acquired Essential Medical, Inc. See Note 13 for additional information related to the settlement.