Astronics Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Fair Value (Tables)

Fair Value (Tables)

6 Months Ended

Jun. 28, 2014

Financial Assets and Liabilities Carried at Fair Value Measured on Recurring Basis

A financial asset or liability’s classification within the hierarchy is determined based on the lowest level input that is significant to the fair value measurement. The following table provides the financial assets and liabilities carried at fair value measured on a recurring basis as of June 28, 2014 and December 31, 2013:


(In thousands)	Classification	Total			Level 1		Level 2			Level 3
Interest rate swaps	Other Liabilities
June 28, 2014		$	(80	)	$	—	$	(80	)	$	—
December 31, 2013			(108	)		—		(108	)		—
Acquisition contingent consideration	Current Liabilities
June 28, 2014		$	(2,595	)	$	—	$	—		$	(2,595	)
December 31, 2013			(137	)		—		—			(137	)
June 28, 2014	Other Liabilities	$	(3,634	)	$	—	$	—		$	(3,634	)
December 31, 2013			(5,709	)		—		—			(5,709	)

Calculation of Additional Purchase Consideration (Earn Out)

The calculation of additional purchase consideration (“Earn Out”) related to the acquisition of AeroSat is as follows:


	AeroSat Revenue	Earn Out Formula
2014	<$30 million	No Earn Out
	>$30 million < $50 million	(AeroSat Revenue X 15%) x ((AeroSat Revenue-$30 million)/$20 million)
	>$50 million	AeroSat Revenue X 15%

2015	<$40 million	No Earn Out
	>$40 million < $60 million	(AeroSat Revenue X 15%) x ((AeroSat Revenue-$40 million)/$20 million)
	>$60 million	AeroSat Revenue X 15%