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Fair value of Financial Instruments (Tables)

6 Months Ended

Jun. 27, 2020

Fair Value of Financial Instruments

Schedule of financial instruments that are measured and recorded at fair value on a recurring basis

The following tables show CRA’s financial instruments as of June 27, 2020 and December 28, 2019 that are measured and recorded in the condensed consolidated financial statements at fair value on a recurring basis (in thousands):

​	​	​	​	​	​	​	​	​	​
​	​	June 27, 2020
​	​	Quoted Prices in Active		​	​		​	​
​	​	Markets for Identical		​	Significant Other		​	Significant Unobservable
​	​	Assets or Liabilities		​	Observable Inputs		​	Inputs
​		Level 1			Level 2			Level 3
Assets:	​	​	​	​	​	​	​	​	​
Money market mutual funds	​	$	150		$	—		$	—
Total Assets	​	$	150	​	$	—	​	$	—
Liabilities:	​	​	​	​	​	​	​	​	​
Contingent consideration liability	​	$	—		$	—		$	12,575
Total Liabilities	​	$	—	​	$	—	​	$	12,575

​

​	​	​	​	​	​	​	​	​	​
​	​	December 28, 2019
​	​	Quoted Prices in Active		​	​	​	​	​
​	​	Markets for Identical		​	Significant Other		​	Significant Unobservable
​	​	Assets or Liabilities		​	Observable Inputs		​	Inputs
​		Level 1			Level 2			Level 3
Assets:	​	​	​	​	​	​	​	​	​
Money market mutual funds	​	$	150		$	—		$	—
Total Assets	​	$	150	​	$	—	​	$	—
Liabilities:	​	​	​	​	​	​	​	​	​
Contingent consideration liability	​	$	—	​	$	—	​	$	11,579
Total Liabilities	​	$	—	​	$	—	​	$	11,579

​

Summary of the changes in the contingent consideration liability

The following table summarizes the changes in the contingent consideration liabilities (in thousands):

​

​	​	​	​	​	​	​
​	​	Fiscal Year-to-Date		​	​	​
​	​	Period Ended		​	Fiscal Year Ended
​	​	June 27, 2020		​	December 28, 2019
Beginning balance	​	$	11,579	​	$	6,197
Remeasurement of acquisition-related contingent consideration	​		448	​		3,285
Accretion	​	​	548	​	​	2,097
Ending balance	​	$	12,575	​	$	11,579

X

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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://fasb.org/us-gaap/role/ref/legacyRef
-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://fasb.org/us-gaap/role/ref/legacyRef
-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

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- References

No definition available.

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X

- Definition

Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments.

+ References

No definition available.

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