FAIR VALUE

Financial Assets Measured at Fair Value on a Recurring Basis

The following table presents the Company’s financial assets that are measured at fair value on a recurring basis at March 29, 2014 and December 31, 2013. Level 1 inputs are based on quoted prices in active markets accessible at the reporting date for identical assets and liabilities. Level 2 inputs are based on quoted prices for similar instruments in active markets and quoted prices for identical or similar instruments in markets that are not active, or model-based valuation techniques for which all significant assumptions are observable in a market. Level 3 inputs are based on prices or valuations that require inputs that are significant to the valuation and are unobservable.



	March 29, 2014								December 31, 2013
(In thousands)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents
Commercial paper	$	—	$	—	$	—	$	—	$	—	$	49,988	$	—	$	49,988
Money market fund deposits	187,095		—		—		187,095		118,090		—		—		118,090
Other current assets
Foreign exchange forward contracts	—		257		—		257		—		—		—		—
Total assets measured and recorded at fair value	$	187,095	$	257	$	—	$	187,352	$	118,090	$	49,988	$	—	$	168,078
Liabilities:
Foreign exchange forward contracts	$	—	$	—	$	—	$	—	$	—	$	514	$	—	$	514
Contingent consideration obligation	—		—		1,282		1,282		—		—		1,282		1,282
Total liabilities measured and recorded at fair value	$	—	$	—	$	1,282	$	1,282	$	—	$	514	$	1,282	$	1,796

The following table provides information about derivative positions held by the Company as of March 29, 2014 and December 31, 2013:



	March 29, 2014						December 31, 2013
(In thousands)	Gross amounts of recognized assets		Gross amounts offset in the condensed consolidated balance sheet		Net amount of assets in the condensed consolidated balance sheet		Gross amounts of recognized liabilities		Gross amounts offset in the condensed consolidated balance sheet		Net amount of liabilities in the condensed consolidated balance sheet
Foreign exchange forward contracts	$	292	$	35	$	257	$	620	$	106	$	514

Gains and losses associated with derivatives are recorded in other income, net in the condensed consolidated statements of operations. Gains (losses) associated with derivative instruments not designated as hedging instruments were as follows:



	Three months ended
(In thousands)	March 29, 2014		March 30, 2013
Gains (losses) on forward currency contracts	$	257	$	(3,354	)