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Fair Value of Financial Instruments (Tables) | 6 Months Ended
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Jun. 29, 2013
Fair Value of Financial Instruments |
Financial assets and liabilities measured at fair value on a recurring basis | The following summarizes the valuation of the Company’s financial instruments (in thousands). The tables do not include either cash on hand or assets and liabilities that are measured at historical cost or any basis other than fair value.
|  | Fair Value Measurements at June 29, 2013 Using |  |  |
Description |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total |
Assets: |  |  |  |  |  |  |  |  |
Cash Equivalents: |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 119,064 |  | $ | — |  | $ | — |  | $ | 119,064 |
Commercial paper |  | — |  | 1,000 |  | — |  | 1,000 |
Certificates of deposit |  | — |  | 5,550 |  | — |  | 5,550 |
Total cash equivalents |  | $ | 119,064 |  | $ | 6,550 |  | $ | — |  | $ | 125,614 |
Short-term Investments: |  |  |  |  |  |  |  |  |
Municipal bonds |  | $ | — |  | $ | 79,355 |  | $ | — |  | $ | 79,355 |
Variable-rate demand notes |  | — |  | 56,007 |  | — |  | 56,007 |
Corporate bonds |  | — |  | 13,077 |  | — |  | 13,077 |
Certificates of deposit |  | — |  | 1,858 |  | — |  | 1,858 |
International government bonds |  | — |  | 1,126 |  | — |  | 1,126 |
Total short-term investments |  | $ | — |  | $ | 151,423 |  | $ | — |  | $ | 151,423 |
Long-term Investments: |  |  |  |  |  |  |  |  |
Auction rate securities |  | $ | — |  | $ | — |  | $ | 10,197 |  | $ | 10,197 |
Total long-term investments |  | $ | — |  | $ | — |  | $ | 10,197 |  | $ | 10,197 |
Other assets, net: |  |  |  |  |  |  |  |  |
Derivative instruments |  | $ | — |  | $ | 808 |  | $ | — |  | $ | 808 |
Total |  | $ | — |  | $ | 808 |  | $ | — |  | $ | 808 |
Total |  | $ | 119,064 |  | $ | 158,781 |  | $ | 10,197 |  | $ | 288,042 |
|  | Fair Value Measurements at December 29, 2012 Using |  |  |
Description |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total |
Assets: |  |  |  |  |  |  |  |  |
Cash Equivalents: |  |  |  |  |  |  |  |  |
U.S. Treasury bills |  | $ | 25,050 |  | $ | — |  | $ | — |  | $ | 25,050 |
Money market funds |  | 22,686 |  | — |  | — |  | 22,686 |
Municipal bonds |  | — |  | 1,000 |  | — |  | 1,000 |
Total cash equivalents |  | $ | 47,736 |  | $ | 1,000 |  | $ | — |  | $ | 48,736 |
Short-term Investments: |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | — |  | $ | 59,351 |  | $ | — |  | $ | 59,351 |
Municipal bonds |  | — |  | 45,689 |  | — |  | 45,689 |
Variable-rate demand notes |  | — |  | 41,785 |  | — |  | 41,785 |
Asset-backed securities |  | — |  | 15,069 |  | — |  | 15,069 |
U.S. government bonds |  | 12,663 |  | — |  | — |  | 12,663 |
International government bonds |  | — |  | 2,008 |  | — |  | 2,008 |
Total short-term investments |  | $ | 12,663 |  | $ | 163,902 |  | $ | — |  | $ | 176,565 |
Long-term Investments: |  |  |  |  |  |  |  |  |
Auction rate securities |  | $ | — |  | $ | — |  | $ | 11,369 |  | $ | 11,369 |
Total long-term investments |  | $ | — |  | $ | — |  | $ | 11,369 |  | $ | 11,369 |
Total |  | $ | 60,399 |  | $ | 164,902 |  | $ | 11,369 |  | $ | 236,670 |
Liabilities: |  |  |  |  |  |  |  |  |
Derivative instruments |  | $ | — |  | $ | 658 |  | $ | — |  | $ | 658 |
Contingent consideration |  | — |  | — |  | 2,750 |  | 2,750 |
Total |  | $ | — |  | $ | 658 |  | $ | 2,750 |  | $ | 3,408 |
Summary of quantitative information about level 3 asset fair value measurements |
Fair Value at June 29, 2013 (000s) |  | Valuation Technique |  | Unobservable Input |  | Weighted Average |
$ | 10,197 |  | Discounted cash flow |  | Estimated yield |  | 1.09 | %
|  |  |  | Expected holding period |  | 10 years |
|  |  |  | Estimated discount rate |  | 3.71 | %
Summary of activity in Level 3 financial instruments | The following summarizes the activity in Level 3 financial instruments for the three and six months ended June 29, 2013 (in thousands): Assets
Auction Rate Securities |  | Three Months Ended |  | Six Months Ended |
Beginning balance |  | $ | 11,189 |  | $ | 11,369 |
Settlements |  | (25 | ) | (100 | )
Losses included in other comprehensive income |  | (967 | ) | (1,072 | )
Balance at June 29, 2013 |  | $ | 10,197 |  | $ | 10,197 |
Liabilities
Contingent Consideration (1) |  | Three Months Ended |  | Six Months Ended |
Beginning balance |  | $ | — |  | $ | 2,750 |
Gain recognized in earnings (2) |  | — |  | (2,750 | )
Balance at June 29, 2013 |  | $ | — |  | $ | — |
(1) In connection with the acquisition of Ember, the Company recorded contingent consideration based upon the expected achievement of a milestone goal. Changes to the fair value of contingent consideration due to changes in assumptions used in preparing the discounted cash flow model are recorded in selling, general and administrative expenses in the Consolidated Statement of Income. (2) The Company reduced the estimated fair value of contingent consideration because the milestone goal was not achieved.

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- Definition Tabular disclosure of the fair value measurement of assets and liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset and liability. + References No definition available. + Details
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- Definition Tabular disclosure of quantitative information about the inputs used in the fair value measurement of assets. This disclosure may include, but is not limited to, the fair value of the asset, valuation technique used to measure fair value, the inputs used to measure fair value, the ranges of the inputs, and the weighted averages of the inputs. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7578670&loc=d3e19190-110258 + Details
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