FAIR VALUE MEASUREMENT (Tables)

6 Months Ended

Jun. 24, 2016

Schedule of fair value hierarchy for cash equivalents and restricted investments

We measure certain non-financial assets on a non-recurring basis, including goodwill and certain intangible assets. As a result of those measurements, we recognized impairment charges as follows (in thousands):



	June 24, 2016
	Total Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Impairment Loss
Goodwill	$	42,629	$	—	$	—	$	42,629	$	(65,869	)
Customer relationships	11,100		—		—		11,100		(28,900		)
Trade names/trademarks	3,600		—		—		3,600		(4,500		)
Total									$	(99,269	)

Our assets and liabilities measured at fair value on a recurring basis consisted of the following (in thousands):



	June 24, 2016
	Total Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial assets:
Cash and cash equivalents (1)	$	21,772	$	21,772	$	—	$	—
Restricted cash and cash equivalents (1)	51,643		51,643		—		—
Other restricted assets (2)	14,320		14,320		—		—
Restricted investments classified as held-to-maturity	142,553		—		142,553		—

Financial liabilities:
Contingent consideration (3)	19,300		—		—		19,300



	December 25, 2015
	Total Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Financial assets:
Cash and cash equivalents (1)	$	29,781	$	29,781	$	—	$	—
Restricted cash and cash equivalents (1)	49,680		49,680		—		—
Other restricted assets (2)	11,944		11,944		—		—
Restricted investments classified as held to maturity	128,245		—		128,245		—

Financial liabilities:
Contingent consideration (3)	19,300		—		—		19,300


(1)	Cash equivalents and restricted cash equivalents consist of money market funds, deposits, and investments with original maturities of three months or less.


(2)	Other restricted assets primarily consist of deferred compensation plan accounts, which are comprised of mutual funds classified as available-for-sale securities.


(3)	The estimated fair value of the contingent consideration associated with the acquisition of SIMOS, which was estimated using a probability-adjusted discounted cash flow model. Refer to Note 2: Acquisitions for further details regarding the SIMOS acquisition.

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

The following table presents the change in the estimated fair value of our liability for contingent consideration measured using significant unobservable inputs (Level 3) for the twenty-six weeks ended June 24, 2016, as follows (in thousands):



Fair value measurement at beginning of period	$	19,300
Contingent consideration liability adjustment recorded for final purchase price valuation	(1,000		)
Accretion on contingent consideration	1,000
Fair value measurement at end of period	$	19,300