Fair value of financial instruments (Tables)

The following table provides details of the financial instruments measured at fair value on a recurring basis, including:


	Fair Value Measurements at Reporting Date Using
(amount in thousands)	Level 1		Level 2			Level 3		Total
As of March 25, 2016
Assets
Cash equivalents	$	—	$	2,315		$	—	$	2,315
Corporate bonds and commercial papers		—		116,558			—		116,558
U.S. agency and U.S. treasury securities		—		27,752			—		27,752
Sovereign and municipal securities		—		498			—		498
Derivative assets		—		674	⁽¹⁾		—		674

Total	$	—	$	147,797		$	—	$	147,797

Liabilities
Derivative liabilities	$	—	$	2,334	⁽²⁾	$	—	$	2,334

Total	$	—	$	2,334		$	—	$	2,334


	Fair Value Measurements at Reporting Date Using
(amount in thousands)	Level 1		Level 2			Level 3		Total
As of June 26, 2015
Assets
Cash equivalents	$	—	$	7,430		$	—	$	7,430
Corporate bonds and commercial papers		—		120,101			—		120,101
U.S. agency and U.S. treasury securities		—		21,027			—		21,027
Sovereign and municipal securities		—		1,738			—		1,738
Derivative assets		—		4	⁽³⁾		—		4

Total	$	—	$	150,300		$	—	$	150,300

Liabilities
Derivative liabilities	$	—	$	371	⁽⁴⁾	$	—	$	371

Total	$	—	$	371		$	—	$	371

⁽¹⁾

Foreign currency forward contracts with notional amount of $30.0 million.

⁽²⁾

Foreign currency forward contracts with notional amount of $102.0 million and Canadian Dollars 0.3 million.

⁽³⁾

Foreign currency options with notional amount of $3.0 million and forward contracts with notional amount of Canadian Dollars 0.4 million.

⁽⁴⁾

Foreign currency options with notional amount of $41.0 million.

The following table presents the effect of foreign currency forward contracts, designated as cash flow hedges, and their classification within comprehensive income:


	Nine Months Ended
(amount in thousands)	March 25, 2016		March 27, 2015

Currency contracts that hedge costs of sales	$	483	$	—
Currency contracts that hedge operating expenses		36		—
Currency contracts that hedge construction costs		155		—

	$	674	$	—