LATTICE SEMICONDUCTOR CORPLSCC

LATTICE SEMICONDUCTOR CORP Fair Value Disclosure

10-KFiled Feb 26, 20192 min read
Fair Value of Financial Instruments

 
Fair value measurements as of
 
Fair value measurements as of
 
December 29, 2018
 
December 30, 2017
(In thousands)
Total
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Level 1
 
Level 2
 
Level 3
Short-term marketable securities
$
9,624

 
$
9,624

 
$
—

 
$
—

 
$
4,982

 
$
4,982

 
$
—

 
$
—

Foreign currency forward exchange contracts, net
53

 
—

 
53

 
—

 
77

 
—

 
77

 
—

Total fair value of financial instruments
$
9,677

 
$
9,624

 
$
53

 
$
—

 
$
5,059

 
$
4,982

 
$
77

 
$
—



We invest in various financial instruments that may include corporate and government bonds and notes, commercial paper, and certificates of deposit. In addition, we enter into foreign currency forward exchange contracts to mitigate our foreign currency exchange rate exposure. We carry these instruments at their fair value in accordance with ASC 820, "Fair Value Measurements." The framework under the provisions of ASC 820 establishes three levels of inputs that may be used to measure fair value. Each level of input has different levels of subjectivity and difficulty involved in determining fair value, as summarized in "Note 1 - Nature of Operations and Significant Accounting Policies." There were no transfers between any of the levels during fiscal 2018, 2017, and 2016.

In accordance with ASC 320, “Investments-Debt and Equity Securities,” we recorded an unrealized gain of less than $0.1 million during the fiscal year ended December 29, 2018, and an unrealized loss of approximately $0.1 million during the fiscal year ended December 30, 2017 on certain Short-term marketable securities (Level 1 instruments), which have been recorded in Accumulated other comprehensive loss. Future fluctuations in fair value related to these instruments that we deem to be temporary, including any recoveries of previous write-downs, would be recorded to Accumulated other comprehensive loss. If we were to determine in the future that any further decline in fair value is other-than-temporary, we would record an impairment charge, which could have a material adverse effect on our operating results. If we were to liquidate our position in these securities, it is likely that the amount of any future realized gain or loss would be different from the unrealized gain or loss reported in Accumulated other comprehensive loss.
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Historical Timeline

Fiscal YearFiled
2018Feb 26, 2019Showing above
2017Mar 14, 2018
2016Mar 1, 2017

About Fair Value Disclosures

Fair value disclosures classify all assets and liabilities measured at fair value into a three-level hierarchy: Level 1 (quoted market prices), Level 2 (observable inputs like yield curves), and Level 3 (unobservable inputs requiring management estimates). The proportion of Level 3 assets directly reflects how much of the balance sheet depends on internal models rather than market evidence.

Key signals: a growing Level 3 balance relative to total fair-value assets increases valuation uncertainty and earnings volatility risk. Watch for transfers between levels — assets moving from Level 2 to Level 3 often signal deteriorating market liquidity. Unrealized gains and losses on Level 3 positions flow through earnings or other comprehensive income, so large swings deserve scrutiny. For financial institutions, examine the sensitivity disclosures that show how Level 3 valuations change under alternative assumptions. Compare the fair value of debt against its carrying amount to gauge hidden leverage.

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