Short - Term Investments

6 Months Ended

Jun. 28, 2014

Short-term Investments [Abstract]

Short - Term Investments

SHORT-TERM INVESTMENTS

In conjunction with the acquisition of ATMI, the Company acquired South Korea bank time deposits and common shares of one security, which are classified as available-for-sale and are reported at fair value, with unrealized gains and losses included in shareholders’ equity as a component of accumulated other comprehensive income, net of applicable taxes. Available-for-sale investments as of June 28, 2014 consist of the following:

(In thousands)	Cost basis		Gross unrealized gains		Gross unrealized losses			Fair value
Common stock	$	7,051	$	—	$	(1,011	)	$	6,040
Time deposits	$	4,916	$	—	$	—		$	4,916
Total available-for-sale investments	$	11,967	$	—	$	(1,011	)	$	10,956

Equity investments with continuous unrealized losses for less than 12 months and their related fair values at June 28, 2014 were as follows:

	Less than 12 months
(In thousands)	Fair value		Gross unrealized losses
Common stock	$	6,040	$	(1,011	)
Total	$	6,040	$	(1,011	)

The Company regularly reviews the fair value of marketable security declines below amortized cost to evaluate whether the decline is other-than-temporary. In making this determination, the Company considers all available evidence including, among other things, considering the duration and extent of the decline and the economic factors influencing the market to determine if the fair value will recover to equal or exceed the amortized cost. If the Company determines that the fair value will not recover, an other-than-temporary impairment is recognized, net of applicable taxes. Management does not believe the unrealized losses represent other-than-temporary impairments based on our evaluation of available evidence as of June 28, 2014. As part of that evaluation, the Company has concluded that it has the ability and intent to hold the investment until the recovery of fair value.

The amortized cost and fair value of available-for-sale debt investments as of June 28, 2014, by contractual maturity, were as follows:

(In thousands)	Cost basis		Fair value
Due in 1 year or less	$	4,916	$	4,916
Total	$	4,916	$	4,916

The net unrealized holding losses on available-for-sale investments that have been included in other comprehensive income as of June 28, 2014 were as follows:

(In thousands)
Net unrealized holding losses included in other comprehensive income	$	(644	)