Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

v3.3.1.900
Fair Value Measurements (Tables)
12 Months Ended
Sep. 26, 2015
Fair Value Disclosures [Abstract]  
Summary of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

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 September 26, 2015 (in thousands):

 

         Level 1              Level 2              Level 3              Total      

Liabilities:

           

Liability for contingent consideration (b)

   $         0       $         0       $ 3,625       $ 3,625   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total liabilities

   $ 0       $ 0       $ 3,625       $ 3,625   
  

 

 

    

 

 

    

 

 

    

 

 

 

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 27, 2014 (in thousands):

 

         Level 1              Level 2              Level 3              Total      

Assets:

           

Short-term investments (a)

   $ 9,990       $         0       $ 0       $ 9,990   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total assets

   $ 9,990       $ 0       $ 0       $ 9,990   
  

 

 

    

 

 

    

 

 

    

 

 

 

Liabilities:

           

Liability for contingent consideration (b)

   $ 0       $ 0       $ 4,414       $ 4,414   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total liabilities

   $ 0       $ 0       $ 4,414       $ 4,414   
  

 

 

    

 

 

    

 

 

    

 

 

 

 

(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 – See Note 4. The fair value of the 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 our consolidated balance sheets.
Summary of Changes in Fair Value of Level 3 Financial Instruments

The following table provides a summary of changes in fair value of our Level 3 financial instruments for the years ended September 26, 205 and September 27, 2014 (in thousands):

 

     Amount  

Balance as of September 27, 2014

   $ 4,414   

Performance-based payments made

     (688

Changes in the fair value of contingent performance-based payments established at the time of acquisition

     (101
  

 

 

 

Balance as of September 26, 2015

   $ 3,625