The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis based upon the level within the fair value hierarchy in which the fair value measurements fall, as of June 29, 2019 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
Assets: |
|
|
|
|
|
|
|
|
Short term investments (a) |
|
$ |
119 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
119 |
|
Total assets |
|
$ |
119 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
119 |
|
Liabilities: |
|
|
|
|
|
|
|
|
Liability for contingent consideration (b) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
7,824 |
|
|
$ |
7,824 |
|
Total liabilities |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
7,824 |
|
|
$ |
7,824 |
|
The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis based upon the level within the fair value hierarchy in which the fair value measurements fall, as of June 30, 2018 (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
Liabilities: |
|
|
|
|
|
|
|
|
Liability for contingent consideration (b) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
7,645 |
|
|
$ |
7,645 |
|
Total liabilities |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
7,645 |
|
|
$ |
7,645 |
|
The following table presents our financial assets and liabilities at fair value on a recurring basis based upon the level within the fair value hierarchy in which the fair value measurements fall, as of September 29, 2018:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
Liabilities: |
|
|
|
|
|
|
|
|
Liability for contingent consideration (b) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
8,224 |
|
|
$ |
8,224 |
|
Total liabilities |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
8,224 |
|
|
$ |
8,224 |
|
|
|
(a) |
The fair value of short-term investments are based on quoted prices in active markets for identical assets. |
|
|
(b) |
The liability for contingent consideration relates to an earn-out for B2E, acquired in December 2012, future performance-based contingent payments for Hydro-Organics Wholesale, Inc., acquired in October 2015, future performance-based contingent payment for Segrest, Inc., acquired in October 2016, and future performance-based contingent payments for Bell Nursery, acquired in March 2018. The contingent period for Bell Nursery expired in December 2018. Performance thresholds that would have necessitated payment were not met, and accordingly, no payment was made. The fair value of the estimated contingent consideration arrangement is determined based on the Company’s evaluation as to the probability and amount of any earn-out that will be achieved based on expected future performance by the acquired entity. This is presented as part of long-term liabilities in the Company's consolidated balance sheets. |
|