Fair Value (Tables)

3 Months Ended

Mar. 26, 2016

Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis

Assets, liabilities and redeemable noncontrolling interest measured at fair value on a recurring basis are summarized below:



	March 26, 2016
	Level 1		Level 2		Level 3		Total
	(in thousands)
Cash equivalents	$	—	$	221	$	—	$	221
Other current assets:
Mutual funds	4,552		—		—		4,552
Other assets:
Life insurance policies	—		19,889		—		19,889
Total assets measured at fair value	$	4,552	$	20,110	$	—	$	24,662

Other current liabilities:
Contingent consideration	$	—	$	—	$	1,114	$	1,114
Foreign currency forward contracts	—		25		—		25
Other long-term liabilities:
Contingent consideration	—		—		200		200
Redeemable noncontrolling interest	—		—		28,744		28,744
Total liabilities and redeemable noncontrolling interest measured at fair value	$	—	$	25	$	30,058	$	30,083



	December 26, 2015
	Level 1		Level 2		Level 3		Total
	(in thousands)
Cash equivalents	$	—	$	190	$	—	$	190
Other current assets:
Mutual funds	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

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

The following table provides a rollforward of the fair value of the Company’s redeemable noncontrolling interest related to the acquisition of Vital River.



	Three Months Ended
	March 26, 2016			March 28, 2015
	(in thousands)
Beginning balance	$	28,008		$	28,419
Additions	—			—
Total gains or losses (realized/unrealized):
Net income attributable to noncontrolling interest	198			(130		)
Foreign currency translation	(186		)	78
Change in fair value, included in additional paid-in capital	724			1,086
Ending balance	$	28,744		$	29,453

Fair Value, Contingent Consideration

The following table provides a rollforward of the contingent consideration related to the business acquisitions.



	Three Months Ended
	March 26, 2016			March 28, 2015
	(in thousands)
Beginning balance	$	1,370		$	2,828
Additions	600			675
Payments	(674		)	—
Total gains or losses (realized/unrealized):
Reversal of previously recorded contingent liability and change in fair value	18			(717		)
Ending balance	$	1,314		$	2,786