Fair Value Measurement

3 Months Ended

Aug. 01, 2020

Note 13. Fair Value Measurement

The following table sets forth by Level within the fair value hierarchy our financial assets and liabilities that were accounted for at fair value on a recurring basis at August 1, 2020 and May 2, 2020 according to the valuation techniques we used to determine their fair values. There have been no transfers of assets or liabilities among the fair value hierarchies presented.



	Fair Value Measurements
	Level 1		Level 2			Level 3			Total
Balance as of August 1, 2020
Cash and cash equivalents	$	44,609	$	—		$	—		$	44,609
Restricted cash	96		—			—			96
Available-for-sale securities:
Certificates of deposit	—		1,230			—			1,230
Derivatives - asset position	—		36			—			36
Derivatives - liability position	—		(242		)	—			(242		)
Acquisition-related contingent consideration	—		—			(401		)	(401		)
	$	44,705	$	1,024		$	(401	)	$	45,328
Balance as of May 2, 2020
Cash and cash equivalents	$	40,398	$	—		$	—		$	40,398
Restricted cash	14		—			—			14
Available-for-sale securities:
Certificates of deposit	—		1,230			—			1,230
Derivatives - asset position	—		261			—			261
Derivatives - liability position	—		(17		)	—			(17		)
Acquisition-related contingent consideration	—		—			(761		)	(761		)
	$	40,412	$	1,474		$	(761	)	$	41,125

A roll forward of the Level 3 contingent liabilities, both short- and long-term, for the three months ended August 1, 2020 is as follows:



Acquisition-related contingent consideration as of May 2, 2020	$	761
Additions	33
Settlements	(400		)
Interest	7
Acquisition-related contingent consideration as of August 1, 2020	$	401

There have been no changes in the valuation techniques used by us to value our financial instruments since the end of fiscal 2020. For additional information, see our Annual Report on Form 10-K for the fiscal year ended May 2, 2020 for the methods and assumptions used to estimate the fair value of each class of financial instrument.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

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