Fair Value (Tables)

6 Months Ended

Jun. 25, 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:



	June 25, 2016
	Level 1		Level 2		Level 3		Total
	(in thousands)
Cash equivalents	$	—	$	5,962	$	—	$	5,962
Other current assets:
Mutual funds	4,627		—		—		4,627
Other assets:
Life insurance policies	—		20,321		—		20,321
Total assets measured at fair value	$	4,627	$	26,283	$	—	$	30,910

Other current liabilities:
Contingent consideration	$	—	$	—	$	1,309	$	1,309
Redeemable noncontrolling interest	—		—		25,824		25,824
Total liabilities and redeemable noncontrolling interest measured at fair value	$	—	$	—	$	27,133	$	27,133



	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.



	Six Months Ended
	June 25, 2016			June 27, 2015
	(in thousands)
Beginning balance	$	28,008		$	28,419
Additions	—			—
Total gains or losses (realized/unrealized):
Net income attributable to noncontrolling interest	320			364
Foreign currency translation	(653		)	112
Change in fair value, included in additional paid-in capital	(1,851		)	1,081
Ending balance	$	25,824		$	29,976

Fair Value, Contingent Consideration

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



	Six Months Ended
	June 25, 2016			June 27, 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	13			(672		)
Ending balance	$	1,309		$	2,831