XML 39 R29.htm IDEA: XBRL DOCUMENT
v3.21.1

Fair Value and Derivative Instruments (Tables) | 3 Months Ended
--- | ---
Mar. 27, 2021
Fair Value Disclosures [Abstract] |
Fair Value Assets Measured on Recurring Basis | Assets and liabilities measured at fair value on a recurring basis were as follows (in thousands):
March 27, 2021 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |
Money market funds |  | $ | 34,254 |  |  | $ | — |  |  | $ | — |  |  | $ | 34,254 |
Commercial paper |  | 5,500 |  |  | — |  |  | — |  |  | 5,500 |
|  | 39,754 |  |  | — |  |  | — |  |  | 39,754 |
Marketable securities: |  |  |  |  |  |  |  |
U.S. treasuries |  | 32,669 |  |  | — |  |  | — |  |  | 32,669 |
Certificates of deposit |  | — |  |  | 1,212 |  |  | — |  |  | 1,212 |
U.S. agency securities |  | — |  |  | 575 |  |  | — |  |  | 575 |
Corporate bonds |  | — |  |  | 44,146 |  |  | — |  |  | 44,146 |
Commercial paper |  | — |  |  | 15,491 |  |  | — |  |  | 15,491 |
|  | 32,669 |  |  | 61,424 |  |  | — |  |  | 94,093 |
Foreign exchange derivative contracts (Designated) |  | — |  |  | 144 |  |  | — |  |  | 144 |
Interest rate swap derivative contracts |  | — |  |  | 745 |  |  | — |  |  | 745 |
Total assets |  | $ | 72,423 |  |  | $ | 62,313 |  |  | $ | — |  |  | $ | 134,736 |
Liabilities: |  |  |  |  |  |  |  |
Foreign exchange derivative contracts (Designated) |  | $ | — |  |  | $ | (100) |  |  | $ | — |  |  | $ | (100) |
Interest rate swap derivative contracts |  | — |  |  | (113) |  |  | — |  |  | (113) |
Contingent consideration |  | — |  |  | — |  |  | (3,884) |  |  | (3,884) |
Total liabilities |  | $ | — |  |  | $ | (213) |  |  | $ | (3,884) |  |  | $ | (4,097) |
December 26, 2020 |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |
Money market funds |  | $ | 43,019 |  |  | $ | — |  |  | $ | — |  |  | $ | 43,019 |
Marketable securities: |  |  |  |  |  |  |  |
U.S. treasuries |  | 40,726 |  |  | — |  |  | — |  |  | 40,726 |
Certificates of deposit |  | — |  |  | 2,179 |  |  | — |  |  | 2,179 |
U.S. agency securities |  | — |  |  | 575 |  |  | — |  |  | 575 |
Corporate bonds |  | — |  |  | 24,330 |  |  | — |  |  | 24,330 |
|  | 40,726 |  |  | 27,084 |  |  | — |  |  | 67,810 |
Foreign exchange derivative contracts |  | — |  |  | 1,057 |  |  | — |  |  | 1,057 |
Interest rate swap derivative contracts |  | — |  |  | 57 |  |  | — |  |  | 57 |
Total assets |  | $ | 83,745 |  |  | $ | 28,198 |  |  | $ | — |  |  | $ | 111,943 |
Liabilities: |  |  |  |  |  |  |  |
Interest rate swap derivative contracts |  | $ | — |  |  | $ | (87) |  |  | $ | — |  |  | $ | (87) |
Contingent consideration |  | — |  |  | — |  |  | (4,012) |  |  | (4,012) |
Total liabilities |  | $ | — |  |  | $ | (87) |  |  | $ | (4,012) |  |  | $ | (4,099) |
Schedule of the Impact of Cash Flow Hedges on Consolidated Financial Statements | The impact of the interest rate swaps on our Condensed Consolidated Statements of Income was as follows (in thousands):
|  | Amount of Gain or (Loss) Recognized in OCI on Derivative (Effective Portion) |  | Location of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) |  | Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income (Effective Portion) |  | Location of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion) |  | Amount of Gain or (Loss) Recognized in Income on Derivative (Ineffective Portion)
Three Months Ended March 27, 2021 |  | $ | 624 |  |  | Interest expense |  | $ | (38) |  |  | Interest expense |  | $ | — |
Three Months Ended March 28, 2020 |  | $ | (96) |  |  | Interest expense |  | $ | 22 |  |  | Interest expense |  | $ | — |
Schedule of Foreign Currency Forward Contracts | The following table provides information about our foreign currency forward contracts outstanding as of March 27, 2021 (in thousands):
Currency |  | Contract Position |  | Contract Amount (Local Currency) |  | Contract Amount (U.S. Dollars)
Euro Dollar |  | Buy |  | (10,141) |  |  | $ | (12,025) |
Euro Dollar |  | Sell |  | 11,043 |  |  | 13,026 |
Japanese Yen |  | Buy |  | (1,971,765) |  |  | (17,977) |
Korean Won |  | Sell |  | 3,129,743 |  |  | 2,767 |
Taiwan Dollar |  | Sell |  | 7,972 |  |  | 279 |
Total USD notional amount of outstanding foreign exchange contracts |  |  |  |  |  | $ | (13,930) |
The impact of foreign exchange derivative contracts designated as cash flow hedges on our Condensed Consolidated Statements of Income was as follows (in thousands):
|  | Amount of Gain (Loss) Recognized in Accumulated OCI on Derivative |  | Location of Gain (Loss) Reclassified from Accumulated OCI into Income |  | Amount of Gain (Loss) Reclassified from Accumulated OCI into Income |  |  |  |
Three Months Ended March 27, 2021 |  | $ | (526) |  |  | Cost of revenues |  | $ | 250 |  |  |  |  |
|  |  |  | Research and development |  | 30 |  |  |  |  |
|  |  |  | Selling, general and administrative |  | 82 |  |  |  |  |
|  |  |  |  |  | $ | 362 |  |  |  |  |
Three Months Ended March 28, 2020 |  | $ | (3) |  |  | Cost of revenues |  | $ | (120) |  |  |  |  |
|  |  |  | Research and development |  | (18) |  |  |  |  |
|  |  |  | Selling, general and administrative |  | (43) |  |  |  |  |
|  |  |  |  |  | $ | (181) |  |  |  |  |
Schedule of Gains and Losses Related to Non-designated Derivative Instruments | The impact of foreign exchange derivative contracts not designated as cash flow hedges on our Condensed Consolidated Statements of Income was as follows (in thousands):
|  |  |  | Amount of Gain (Loss) Recognized on Derivatives
|  |  |  | Three Months Ended |  |
Derivatives Not Designated as Hedging Instruments |  | Location of Gain (Loss) Recognized on Derivatives |  | March 27, 2021 |  | March 28, 2020 |  |  |  |
Foreign exchange forward contracts |  | Other income (expense), net |  | $ | 1,288 |  |  | $ | (115) |  |  |  |  |

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of gain (loss) on derivative and nonderivative instruments designated and qualifying as cash flow hedge recorded in accumulated other comprehensive income (AOCI) and reclassified into earnings. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 + Details
Name: | us-gaap_ScheduleOfCashFlowHedgesIncludedInAccumulatedOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- 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/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the presentation of foreign exchange contracts on the statement of financial position, including the fair value amounts and location of such amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Subparagraph (c)(1) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959 + Details
Name: | us-gaap_ScheduleOfForeignExchangeContractsStatementOfFinancialPositionTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4CC -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL109998890-113959 + Details
Name: | us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration