Annual report pursuant to Section 13 and 15(d)

Fair Value of Financial Instruments (Tables)

v3.8.0.1
Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 30, 2017
Fair Value Disclosures [Abstract]  
Schedule of assets and liabilities measured at fair value on a recurring basis

The following tables provide information regarding the Company’s assets and liabilities measured at fair value on a recurring basis at December 30, 2017, and December 31, 2016. The fair value of cash and cash equivalents, accounts receivable, other current assets, accounts payable and accrued expenses and other liabilities approximates their carrying value, due to their short-term nature.

 

 

 

December 30, 2017

 

 

 

 

 

 

 

 

 

 

 

Significant Other

 

 

Significant

 

 

 

 

 

 

 

Quoted  Market

 

 

Observable

 

 

Unobservable

 

 

 

Total

 

 

Prices (Level 1)

 

 

Inputs (Level 2)

 

 

Inputs (Level 3)

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration

 

$

33,882

 

 

$

 

 

$

 

 

$

33,882

 

Total

 

$

33,882

 

 

$

 

 

$

 

 

$

33,882

 

 

 

 

December 31, 2016

 

 

 

Adjusted Cost

 

 

Unrealized Gains

 

 

Unrealized Losses

 

 

Fair Value

 

Assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 1:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Equity securities

 

$

 

 

$

31

 

 

$

 

 

$

31

 

Mutual funds

 

 

1,483

 

 

 

 

 

 

(159

)

 

 

1,324

 

Subtotal

 

 

1,483

 

 

 

31

 

 

 

(159

)

 

 

1,355

 

Level 2:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate fixed income

 

 

4,288

 

 

 

9

 

 

 

(408

)

 

 

3,889

 

Municipal bonds

 

 

1,675

 

 

 

 

 

 

(94

)

 

 

1,581

 

Subtotal

 

 

5,963

 

 

 

9

 

 

 

(502

)

 

 

5,470

 

Total

 

$

7,446

 

 

$

40

 

 

$

(661

)

 

$

6,825

 

Liabilities

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 3:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration

 

 

 

 

 

 

 

 

 

 

 

 

 

$

35,077

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

$

35,077

 

 

Summary of changes in estimated fair value of contingent consideration

  A summary of changes in the estimated fair value of contingent consideration at December 30, 2017 is as follows:

 

Balance at December 31, 2016

 

$

35,077

 

Measurement period adjustment

 

 

6,314

 

Change in estimated fair value

 

 

8,299

 

Accretion in value

 

 

1,177

 

Payment on liability

 

 

(16,985

)

Balance at December 30, 2017

 

$

33,882