Cash, Cash Equivalents and Investments (Tables)

3 Months Ended

Mar. 28, 2020

Investments, All Other Investments [Abstract]

Cash, Cash Equivalents and Short-Term Investments and Long-Term Investments

Cash and cash equivalents, short-term investments and long-term investments consist of:

	March 28, 2020
	Amortized Cost		Unrealized Holding Gains		Unrealized Holding Losses		Fair Value
	(In thousands)
Cash and cash equivalents:
Cash	$	17,782	$	—	$	—	$	17,782
Money market funds		3,168		—		—		3,168
Certificates of deposit		500		—		—		500
Total cash and cash equivalents	$	21,450	$	—	$	—	$	21,450
Short-term investments:
Certificates of deposit	$	3,800	$	5	$	9	$	3,796
Commercial paper		1,894		1		1		1,894
Corporate bonds and medium-term notes		7,309		5		8		7,306
U.S. treasury and agency securities		3,433		12		—		3,445
Total short-term investments	$	16,436	$	23	$	18	$	16,441
Long-term investments:
Certificates of deposit	$	999	$	2	$	14	$	987
Corporate bonds and medium-term notes		1,015		3		—		1,018
U.S. treasury and agency securities		2,495		49		—		2,544
Total long-term investments	$	4,509	$	54	$	14	$	4,549
Total cash, cash equivalents, and investments	$	42,395	$	77	$	32	$	42,440

	December 28, 2019
	Amortized Cost		Unrealized Holding Gains		Unrealized Holding Losses		Fair Value
	(in thousands)
Cash and cash equivalents:
Cash	$	16,512	$	—	$	—	$	16,512
Money market funds		3,255		—		—		3,255
Total cash and cash equivalents	$	19,767	$	—	$	—	$	19,767
Short-term investments:
Certificates of deposit	$	3,000	$	1	$	—	$	3,001
Commercial paper		1,891		2		—		1,893
Corporate bonds and medium-term notes		6,383		25		—		6,408
U.S. treasury and agency securities		5,417		1		—		5,418
Total short-term investments	$	16,691	$	29	$	—	$	16,720
Long-term investments:
Certificates of deposit	$	499	$	1	$	—	$	500
Corporate bonds and medium-term notes		2,530		12		—		2,542
U.S. treasury and agency securities		2,494		1		—		2,495
Total long-term investments	$	5,523	$	14	$	—	$	5,537
Total cash, cash equivalents, and investments	$	41,981	$	43	$	—	$	42,024

Contractual Maturities of Available-for-Sale Securities

The contractual maturities of available-for-sale securities at March 28, 2020 are presented in the following table.

	Amortized Cost		Fair Value
	(In thousands)
Due in one year or less	$	20,104	$	20,109
Due after one through five years		4,509		4,549
	$	24,613	$	24,658

Fair Market Value of Investments with Unrealized Losses Not Deemed to be Other-Than Temporarily Impaired

The following table provides the fair market value of Intevac’s investments with unrealized losses that are not deemed to be other-than temporarily impaired as of March 28, 2020.

	March 28, 2020
	In Loss Position for Less than 12 Months				In Loss Position for Greater than 12 Months
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
	(In thousands)
Certificates of deposit	$	2,176	$	23	$	—	$	—
Commercial paper		896		1		—		—
Corporate bonds and medium-term notes		3,915		8		—		—
	$	6,987	$	32	$	—	$	—

Fair Value Hierarchy of Available-for-Sale Securities Measured at Fair Value on Recurring Basis

The following table represents the fair value hierarchy of Intevac’s available-for-sale securities measured at fair value on a recurring basis as of March 28, 2020.

	Fair Value Measurements at March 28, 2020
	Total		Level 1		Level 2
	(In thousands)
Recurring fair value measurements:
Available-for-sale securities
Money market funds	$	3,168	$	3,168	$	—
U.S. treasury and agency securities		5,989		5,989		—
Certificates of deposit		5,283		—		5,283
Commercial paper		1,894		—		1,894
Corporate bonds and medium-term notes		8,324		—		8,324
Total recurring fair value measurements	$	24,658	$	9,157	$	15,501