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Fair Value | 12 Months Ended
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Dec. 26, 2015
Fair Value Disclosures [Abstract] |
FAIR VALUE | FAIR VALUE Assets, liabilities, and redeemable noncontrolling interest measured at fair value on a recurring basis are summarized below:
| December 26, 2015
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (in thousands)
Cash equivalents | $ | — |  |  | $ | 190 |  |  | $ | — |  |  | $ | 190 |
Other current assets: |  |  |  |  |  |  |
Marketable securities | 4,509 |  |  | — |  |  | — |  |  | 4,509 |
Foreign currency forward contracts | — |  |  | 15 |  |  | — |  |  | 15 |
Other assets: |  |  |  |  |  |  |
Life insurance policies | — |  |  | 20,364 |  |  | — |  |  | 20,364 |
Total assets measured at fair value | $ | 4,509 |  |  | $ | 20,569 |  |  | $ | — |  |  | $ | 25,078 |
Other current liabilities: |  |  |  |  |  |  |
Contingent consideration | $ | — |  |  | $ | — |  |  | $ | 1,172 |  |  | $ | 1,172 |
Other long-term liabilities: |  |  |  |  |  |  |
Contingent consideration | — |  |  | — |  |  | 198 |  |  | 198 |
Redeemable noncontrolling interest | — |  |  | — |  |  | 28,008 |  |  | 28,008 |
Total liabilities and redeemable noncontrolling interest measured at fair value | $ | — |  |  | $ | — |  |  | $ | 29,378 |  |  | $ | 29,378 |
| December 27, 2014
| Level 1 |  | Level 2 |  | Level 3 |  | Total
| (in thousands)
Cash equivalents | $ | — |  |  | $ | 1,934 |  |  | $ | — |  |  | $ | 1,934 |
Other assets: |  |  |  |  |  |  |
Life insurance policies | — |  |  | 20,520 |  |  | — |  |  | 20,520 |
Total assets measured at fair value | $ | — |  |  | $ | 22,454 |  |  | $ | — |  |  | $ | 22,454 |
Other current liabilities: |  |  |  |  |  |  |
Contingent consideration | $ | — |  |  | $ | — |  |  | $ | 1,583 |  |  | $ | 1,583 |
Other long-term liabilities: |  |  |  |  |  |  |
Contingent consideration | — |  |  | — |  |  | 1,245 |  |  | 1,245 |
Redeemable noncontrolling interest | — |  |  | — |  |  | 28,419 |  |  | 28,419 |
Total liabilities and redeemable noncontrolling interest measured at fair value | $ | — |  |  | $ | — |  |  | $ | 31,247 |  |  | $ | 31,247 |
During the fiscal years 2015 and 2014, there were no transfers between fair value levels. Redeemable Noncontrolling Interest The following table provides a rollforward of the fair value of the Company’s redeemable noncontrolling interest related to the acquisition of Vital River in January 2013. Refer to Note 2, “Business Acquisitions.”
| Fiscal Year
| 2015 |  | 2014
| (in thousands)
Beginning balance | $ | 28,419 |  |  | $ | 20,581 |
Additions | — |  |  | — |
Total gains or losses (realized/unrealized): |  |  |
Net income attributable to noncontrolling interest | 838 |  |  | 855 |
Foreign currency translation | (1,066 | ) |  | (442 | )
Change in fair value included in additional paid-in capital | (183 | ) |  | 7,425 |
Ending balance | $ | 28,008 |  |  | $ | 28,419 |
As of December 26, 2015, the significant unobservable inputs used in the fair value measurement of the Company’s redeemable noncontrolling interest are the estimated future cash flows and a discount rate of 18.0%. Significant changes in the timing or amounts of the estimated future cash flows would result in a significantly higher or lower fair value measurement. Significant increases or decreases in the discount rate would result in a significantly lower or higher fair value measurement, respectively. A 1% increase in the discount rate used would result in a $1.7 million decrease in the fair value of the redeemable noncontrolling interest. Contingent Consideration The following table provides a rollforward of the contingent consideration related to previous business acquisitions. See Note 2, “Business Acquisitions.”
| Fiscal Year
| 2015 |  | 2014
| (in thousands)
Beginning balance | $ | 2,828 |  |  | $ | — |
Additions | 973 |  |  | 2,678 |
Payments | (600 | ) |  | — |
Total gains or losses (realized/unrealized): |  |  |
Reversal of previously recorded contingent liability and change in fair value | (1,831 | ) |  | 150 |
Ending balance | $ | 1,370 |  |  | $ | 2,828 |
The significant unobservable inputs used in the fair value measurement of the Company’s contingent consideration are the probabilities of successful achievement of certain financial targets and a discount rate. Significant increases or decreases in any of the probabilities of success would result in a significantly higher or lower fair value measurement, respectively. Significant increases or decreases in the discount rate would result in a significantly lower or higher fair value measurement, respectively. Debt Instruments The book value of the Company’s term and revolving loans, which are variable rate loans carried at amortized cost, approximates their fair value based on current market pricing of similar debt. As the fair value is based on significant other observable inputs, including current interest and foreign currency exchange rates, it is deemed to be Level 2.

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13537-108611 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13504-108611 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=49121117&loc=d3e13433-108611 + Details
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