Fair Value Measurement, Financial Instruments And Risk Management (Tables)

3 Months Ended

Mar. 27, 2016

Assets And Liabilities Measured At Fair Value On A Recurring Basis

The following tables represent our assets and liabilities measured at fair value on a recurring basis as of March 27, 2016 and December 27, 2015 and the basis for that measurement:



	March 27, 2016
(amounts in thousands)	Total Fair Value Measurement March 27, 2016		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Foreign currency forward exchange contracts	$	38	$	—	$	38	$	—
Foreign currency revenue forecast contracts	5		—		5		—
Total assets	$	43	$	—	$	43	$	—

Foreign currency forward exchange contracts	$	323	$	—	$	323	$	—
Foreign currency revenue forecast contracts	306		—		306		—
Total liabilities	$	629	$	—	$	629	$	—



	December 27, 2015
(amounts in thousands)	Total Fair Value Measurement December 27, 2015		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Foreign currency forward exchange contracts	$	109	$	—	$	109	$	—
Total assets	$	109	$	—	$	109	$	—

Foreign currency revenue forecast contracts	$	135	$	—	$	135	$	—
Total liabilities	$	135	$	—	$	135	$	—

Summary of Activity Associated with All Designed Cash Flow Hedges Reflected in AOCI

The following table provides a summary of the activity associated with all of our designated cash flow hedges (foreign currency) reflected in accumulated other comprehensive income for the three months ended March 27, 2016 and the year ended December 27, 2015.



(amounts in thousands)	March 27, 2016			December 27, 2015
Beginning balance, net of tax	$	(125	)	$	—
Changes in fair value gain, net of tax	(310		)	(125		)
Ending balance, net of tax	$	(435	)	$	(125	)

Carrying And Fair Values Of Non-Current Financial Assets And Liabilities Not Measured At Fair Value On A Recurring Basis

We believe that the fair values of our current assets and current liabilities (cash, accounts receivable, accounts payable, and other current liabilities) approximate their reported carrying amounts. The carrying values and the estimated fair values of non-current financial assets and liabilities that qualify as financial instruments and are not measured at fair value on a recurring basis at March 27, 2016 and December 27, 2015 are summarized in the following table:



	March 27, 2016				December 27, 2015
(amounts in thousands)	Carrying Amount		Estimated Fair Value		Carrying Amount		Estimated Fair Value
Long-term debt (including current maturities and excluding capital leases and factoring)⁽¹⁾
2013 Senior secured credit facility	$	70,000	$	70,000	$	70,000	$	70,000


⁽¹⁾	The carrying amounts are reported on the Consolidated Balance Sheets under the indicated captions.

Fair Values Of Derivative Instruments Included Within The Consolidated Balance Sheets

The following table presents the fair values of derivative instruments included within the Consolidated Balance Sheets as of March 27, 2016 and December 27, 2015:



	March 27, 2016						December 27, 2015
	Asset Derivatives			Liability Derivatives			Asset Derivatives			Liability Derivatives
(amounts in thousands)	Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value		Balance Sheet Location	Fair Value
Derivatives designated as hedging instruments
Foreign currency revenue forecast contracts	Other current assets	$	5	Other current liabilities	$	306	Other current assets	$	—	Other current liabilities	$	135
Total derivatives designated as hedging instruments		5			306			—			135
Derivatives not designated as hedging instruments
Foreign currency forward exchange contracts	Other current assets	38		Other current liabilities	323		Other current assets	109		Other current liabilities	—
Total derivatives not designated as hedging instruments		38			323			109			—
Total derivatives		$	43		$	629		$	109		$	135

Amounts Affecting the Consolidated Statement of Operations

The following table represents the amounts affecting the Consolidated Statements of Operations for the three months ended March 27, 2016 and March 29, 2015:



	March 27, 2016
(amounts in thousands)	Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives			Location of Gain (Loss) Reclassified from Other Comprehensive Income into Income	Amount of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income into Income		Amount of Forward Points Recognized in Other Gain (Loss), net
Derivatives designated as cash flow hedges
Foreign currency revenue forecast contracts	$	(435	)	Cost of sales	$	—	$	24

March 29, 2015

(amounts in thousands)

Amount of Gain (Loss) Recognized in Other Comprehensive Income on Derivatives

Location of Gain (Loss) Reclassified from Other Comprehensive Income into Income

Amount of Gain (Loss) Reclassified From Accumulated Other Comprehensive Income into Income

Amount of Forward Points Recognized in Other Gain (Loss), net

Derivatives designated as cash flow hedges

Foreign currency revenue forecast contracts

—

Cost of sales

—

Effect Of Non-Designated Hedging Instruments On Financial Performance



	March 27, 2016				March 29, 2015
(amounts in thousands)	Amount of Gain (Loss) Recognized in Income on Derivatives			Location of Gain (Loss) Recognized in Income on Derivatives	Amount of Gain (Loss) Recognized in Income on Derivatives		Location of Gain (Loss) Recognized in Income on Derivatives
Derivatives not designated as hedging instruments:
Foreign exchange forwards and options	$	(203	)	Other gain (loss), net	$	545	Other gain (loss), net