Fair Value Measurements (Notes)

3 Months Ended

Mar. 28, 2020

Fair Value Footnote [Abstract]

Fair Value Disclosures [Text Block]

Fair Value Measurements

The Company’s financial assets and liabilities measured at fair value on a recurring basis were as follows (in thousands):

	Fair Value Measurements as of March 28, 2020
	Level 1		Level 2 (1)		Level 3 (2)
Assets:
Money market funds	$	120,144	$	—	$	—
Corporate bonds, $13,489 at cost (3)	—		13,509		—
Convertible notes	—		—		1,250
Derivative instruments (Note 8)	—		20,891		—
Total assets measured at fair value	$	120,144	$	34,400	$	1,250
Liabilities:
Derivative instruments (Note 8)	$	—	$	559	$	—
Total liabilities measured at fair value	$	—	$	559	$	—

	Fair Value Measurements as of December 28, 2019
	Level 1		Level 2 (1)		Level 3 (2)
Assets:
Corporate and government bonds, $17,016 at cost	$	—	$	17,032	$	—
Derivative instruments (Note 8)	—		15,314		—
Total assets measured at fair value	$	—	$	32,346	$	—
Liabilities:
Derivative instruments (Note 8)	$	—	$	758	$	—
Total liabilities measured at fair value	$	—	$	758	$	—

(1) Level 2 fair value estimates are based on observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

(2) Level 3 fair value estimates are based on inputs that are generally unobservable and typically reflect management’s estimates of assumptions that market participants would use in pricing the asset or liability. Unobservable inputs used in the models are significant to the fair values of the assets and liabilities.

(3) As of March 28, 2020, the Company’s investments had maturity dates ranging from May 2020 to March 2021.

The following table provides a summary of changes in fair value of our Level 3 investment for the three months ended March 28, 2020 (in thousands):

Balance as of December 28, 2019	$	—
Investment in convertible notes	1,250
Balance as of March 28, 2020	$	1,250

Convertible Debt [Table Text Block]

The following table provides a summary of changes in fair value of our Level 3 investment for the three months ended March 28, 2020 (in thousands):

Balance as of December 28, 2019	$	—
Investment in convertible notes	1,250
Balance as of March 28, 2020	$	1,250