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FAIR VALUE MEASUREMENTS
 12 Months Ended
Dec. 26, 2018
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS
 
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following tables present information about our financial assets and liabilities measured at fair value on a recurring basis as of December 26, 2018 and December 27, 2017, and indicate the classification within the fair value hierarchy. Refer to Note 2 for further information.
Cash, Cash Equivalents and Marketable Securities
The following tables summarize our cash, cash equivalents and marketable securities by significant investment categories as of December 26, 2018 and December 27, 2017:
 
 
December 26, 2018
 
 
Cost Basis

 
 Gross Unrealized Gains

 
 Gross Unrealized Losses

 
 Fair Value

 
 Cash and Cash Equivalents

 
Marketable Securities

Cash
$
19,746

 
$
—

 
$
—

 
$
19,746

 
$
19,746

 
$
—

Level 1:
 
 
 
 
 
 
 
 
 
 
 
 
Money market funds
5,004

 
—

 
—

 
5,004

 
5,004

 
—

 
Mutual funds
62,235

 
—

 
(122
)
 
62,113

 
—

 
62,113

Level 2:
 
 
 
 
 
 
 
 
 
 
 
 
Corporate debt securities(1)
—

 
—

 
—

 
—

 
—

 
—

Total
$
86,985

 
$
—

 
$
(122
)
 
$
86,863

 
$
24,750

 
$
62,113

 
 
December 27, 2017
 
 
Cost Basis

 
 Gross Unrealized Gains

 
 Gross Unrealized Losses

 
 Fair Value

 
 Cash and Cash Equivalents

 
Marketable Securities

Cash
$
16,138

 
$
—

 
$
—

 
$
16,138

 
$
16,138

 
$
—

Level 1:
 
 
 
 
 
 
 
 
 
 
 
 
Money market funds
5,369

 
—

 
—

 
5,369

 
5,369

 
—

 
Mutual funds
60,985

 
—

 
(61
)
 
60,924

 
—

 
60,924

Level 2:
 
 
 
 
 
 
 
 
 
 
 
 
Corporate debt securities(1)
2,125

 
2

 
(15
)
 
2,112

 
—

 
2,112

Total
$
84,617

 
$
2

 
$
(76
)
 
$
84,543

 
$
21,507

 
$
63,036


(1)
Corporate debt securities were measured at fair value using a market approach utilizing observable prices for identical securities or securities with similar characteristics and inputs that are observable or can be corroborated by observable market data.

On December 28, 2017, we adopted ASU 2016-01, which requires certain equity investments to be measured at fair value with changes in fair value recognized in net income. Net unrealized losses on available-for-sale equity securities totaling $61 were included on the Condensed Consolidated Statements of Income during fiscal 2018. Net unrealized losses on available-for-sale securities totaling $74 were included in accumulated other comprehensive loss on the Condensed Consolidated Balance Sheet as of December 27, 2017.
The following tables summarize the gross unrealized losses and fair values for investments in debt securities that were in an unrealized loss position as of December 26, 2018 and December 27, 2017, aggregated by length of time that individual securities have been in a continuous loss position:
 
 
 
 
 
Less than 12 Months
 
 
12 Months or Greater
 
 
Total
 
 
Fair Value

 
Unrealized Loss

 
Fair Value

 
Unrealized Loss

 
Fair Value

 
Unrealized Loss

 
As of December 26, 2018
—

 
—

 
—

 
—

 
—

 
—

 
As of December 27, 2017
1,675

 
(12
)
 
162

 
(3
)
 
1,837

 
(15
)
A summary of other income from available-for-sale securities recognized during fiscal 2018, 2017 and 2016 is as follows:
 
2018

 
2017

 
2016

Available-for-sale securities:
 
 
 
 
 
 
Dividend income
$
1,392

 
$
830

 
$
296

 
Interest income
9

 
77

 
88

 
Loss on investments
(3
)
 
(5
)
 
(7
)
 
Unrealized loss on available-for-sale equity securities
(61
)
 
—

 
—

Total other income, net
$
1,337

 
$
902

 
$
377


A summary of available-for-sale securities sold and gross realized gains and losses recognized during fiscal 2018, 2017 and 2016 is as follows:
 
2018

 
2017

 
2016

Available-for-sale securities:
 
 
 
 
 
 
Gross proceeds from sales and redemptions
$
2,144

 
$
2,223

 
$
938

 
Cost basis of sales and redemptions
2,160

 
2,271

 
956

 
Gross realized gains included in net income
2

 
1

 
2

 
Gross realized losses included in net income
(18
)
 
(49
)
 
(20
)
 
Amounts reclassified out of accumulated other comprehensive loss
16

 
47

 
19


Realized gains and losses are determined on a specific identification method and are included in other income, net on the Consolidated Statements of Income (Loss).
We periodically review our marketable securities for other-than-temporary impairment. We consider factors such as the duration, severity and the reason for the decline in value, the potential recovery period and our intent to sell. For our debt securities, we also considered whether (i) it is more likely than not that we will be required to sell the debt securities before recovery of their amortized cost basis, and (ii) the amortized cost basis cannot be recovered as a result of credit losses. As of December 26, 2018 and December 27, 2017, the declines in the market value of our marketable securities investment portfolio are considered to be temporary in nature.
Other Financial Instruments
The carrying value of our financial instruments, including accounts receivable, accounts payable, and accrued expenses as of December 26, 2018 and December 27, 2017 approximated their fair value due to the short-term nature of these financial instruments.
Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis
Assets and liabilities that are measured at fair value on a non-recurring basis include our long-lived assets and indefinite-lived intangible assets. There were no impairments recognized during fiscal 2018, 2017 and 2016.