| Summary of Significant Accounting Policies | Summary of Significant Accounting Policies a. Principles of Consolidation The consolidated financial statements include the accounts of the Company and all of its subsidiaries. Upon consolidation, all intercompany accounts and transactions are eliminated. Certain amounts reported in previous years have been reclassified to conform to the presentation for the fiscal year ended October 28, 2017 ( fiscal 2017 ). Such reclassified amounts are immaterial. The Company’s fiscal year is the 52 -week or 53 -week period ending on the Saturday closest to the last day in October. Fiscal 2017 , the fiscal year ended October 29, 2016 (fiscal 2016 ) and the fiscal year ended October 31, 2015 (fiscal 2015 ) were 52 -week periods. On March 10, 2017 (Acquisition Date), the Company completed the acquisition of Linear Technology Corporation (Linear), a designer, manufacturer and marketer of high performance analog integrated circuits. The total consideration paid to acquire Linear was approximately $15.8 billion , consisting of $11.1 billion in cash financed through existing cash on hand, net proceeds from bridge and term loan facilities and proceeds received from the issuance of senior unsecured notes, $4.6 billion from the issuance of the Company's common stock and $0.1 billion of consideration related to the replacement of outstanding equity awards held by Linear employees. The acquisition of Linear is referred to as the Acquisition. The consolidated financial statements included in this Annual Report on Form 10-K include the financial results of Linear prospectively from the Acquisition Date. See Note 6, Acquisitions , of these notes to Consolidated Financial Statements for further discussion related to the Acquisition. b. Cash, Cash Equivalents and Short-term Investments Cash and cash equivalents are highly liquid investments with insignificant interest rate risk and maturities of ninety days or less at the time of acquisition. Cash, cash equivalents and short-term investments consist primarily of government and institutional money market funds, corporate obligations such as commercial paper and floating rate notes, bonds and bank time deposits. The Company classifies its investments in readily marketable debt and equity securities as “held-to-maturity,” “available-for-sale” or “trading” at the time of purchase. There were no transfers between investment classifications in any of the fiscal years presented. Held-to-maturity securities, which are carried at amortized cost, include only those securities the Company has the positive intent and ability to hold to maturity. Securities such as bank time deposits, which by their nature are typically held to maturity, are classified as such. The Company’s other readily marketable cash equivalents and short-term investments are classified as available-for-sale. Available-for-sale securities are carried at fair value with unrealized gains and losses, net of related tax, reported in accumulated other comprehensive (loss) income. Adjustments to the fair value of investments classified as available-for-sale are recorded as an increase or decrease in accumulated other comprehensive (loss) income, unless the adjustment is considered an other-than-temporary impairment, in which case the adjustment is recorded as a charge in the statement of income. The Company’s deferred compensation plan investments are classified as trading. See Note 7, D eferred Compensation Plan Investments, of these Notes to Consolidated Financial Statements for additional information on these investments. There were no cash equivalents or short-term investments classified as trading at October 28, 2017 or October 29, 2016 . The Company periodically evaluates its investments for impairment. There were no other-than-temporary impairments of short-term investments in any of the fiscal years presented. Realized gains or losses on investments are determined based on the specific identification basis and are recognized in nonoperating (income) expense. There were no material net realized gains or losses from the sales of available-for-sale investments during any of the fiscal periods presented. Gross unrealized gains and losses on available-for-sale securities classified as short-term investments at October 28, 2017 and October 29, 2016 were as follows: 2017 2016 Unrealized gains on securities classified as short-term investments $ 2 $ 846 Unrealized losses on securities classified as short-term investments (2 ) (294 ) Net unrealized gain on securities classified as short-term investments $ — $ 552 As of October 28, 2017 , the Company held 18 investment securities, 8 of which were in an unrealized loss position with immaterial gross unrealized losses and an aggregate fair value of $143.9 million . As of October 29, 2016 , the Company held 100 investment securities, 25 of which were in an unrealized loss position with gross unrealized losses of $0.3 million and an aggregate fair value of $729.6 million . These unrealized losses were primarily related to corporate obligations that earn lower interest rates than current market rates. None of these investments have been in a loss position for more than twelve months. As the Company does not intend to sell these investments and it is unlikely that the Company will be required to sell the investments before recovery of their amortized basis, which will be at maturity, the Company does not consider those investments to be other-than-temporarily impaired at October 28, 2017 and October 29, 2016 . The components of the Company’s cash and cash equivalents and short-term investments as of October 28, 2017 and October 29, 2016 were as follows: 2017 2016 Cash and cash equivalents: Cash $ 226,160 $ 67,877 Available-for-sale 751,678 693,255 Held-to-maturity 70,000 160,000 Total cash and cash equivalents $ 1,047,838 $ 921,132 Short-term investments: Available-for-sale $ — $ 3,110,011 Held-to-maturity (less than one year to maturity) — 24,650 Total short-term investments $ — $ 3,134,661 See Note 2j, Fair Value, of these Notes to Consolidated Financial Statements for additional information on the Company’s cash equivalents and short-term investments. c. Supplemental Cash Flow Statement Information 2017 2016 2015 Cash paid during the fiscal year for: Income taxes $ 868,492 $ 77,918 $ 142,931 Interest $ 183,117 $ 41,701 $ 25,625 d. Inventories Inventories are valued at the lower of cost (first-in, first-out method) or market. The valuation of inventory requires the Company to estimate obsolete or excess inventory as well as inventory that is not of saleable quality. The Company employs a variety of methodologies to determine the net realizable value of its inventory. While a portion of the calculation to record inventory at its net realizable value is based on the age of the inventory and lower of cost or market calculations, a key factor in estimating obsolete or excess inventory requires the Company to estimate the future demand for its products. If actual demand is less than the Company’s estimates, impairment charges, which are recorded to cost of sales, may need to be recorded in future periods. Inventory in excess of saleable amounts is not valued, and the remaining inventory is valued at the lower of cost or market. Inventories at October 28, 2017 and October 29, 2016 were as follows: 2017 2016 Raw materials $ 35,436 $ 20,263 Work in process 376,476 232,196 Finished goods 138,904 124,096 Total inventories $ 550,816 $ 376,555 e. Property, Plant and Equipment Property, plant and equipment is recorded at cost, less allowances for depreciation. The straight-line method of depreciation is used for all classes of assets for financial statement purposes while both straight-line and accelerated methods are used for income tax purposes. Leasehold improvements are depreciated over the lesser of the term of the lease or the useful life of the asset. Repairs and maintenance charges are expensed as incurred. Depreciation is based on the following ranges of estimated useful lives: Buildings Up to 30 years Machinery & equipment 3-10 years Office equipment 3-10 years Depreciation expense for property, plant and equipment was $194.7 million , $134.5 million and $130.1 million in fiscal 2017 , 2016 and 2015 , respectively. The Company reviews property, plant and equipment for impairment whenever events or changes in circumstances indicate that the carrying amount of assets may not be recoverable. Recoverability of these assets is determined by comparison of their carrying amount to the future undiscounted cash flows the assets are expected to generate over their remaining economic lives. If such assets are considered to be impaired, the impairment to be recognized in earnings equals the amount by which the carrying value of the assets exceeds their fair value determined by either a quoted market price, if any, or a value determined by utilizing a discounted cash flow technique. If such assets are not impaired, but their useful lives have decreased, the remaining net book value is depreciated over the revised useful life. The Company has not recorded any material impairment charges related to our property, plant and equipment in fiscal 2017 , fiscal 2016 or fiscal 2015 . f. Goodwill and Intangible Assets Goodwill The Company evaluates goodwill for impairment annually, as well as whenever events or changes in circumstances suggest that the carrying value of goodwill may not be recoverable. The Company tests goodwill for impairment at the reporting unit level which we have determined is consistent with our operating segments, on an annual basis on the first day of the fourth quarter (on or about August 1) or more frequently if indicators of impairment exist. The goodwill impairment test requires an entity to compare the fair value of a reporting unit with its carrying amount. The Company determines the fair value of its reporting units using a weighting of the income and market approaches. Under the income approach, the Company uses a discounted cash flow methodology which requires management to make significant estimates and assumptions related to forecasted revenues, gross profit margins, operating income margins, working capital cash flow, perpetual growth rates, and long-term discount rates, among others. For the market approach, the Company uses the guideline public company method. Under this method the Company utilizes information from comparable publicly traded companies with similar operating and investment characteristics as the reporting units, to create valuation multiples that are applied to the operating performance of the reporting unit being tested, in order to estimate their respective fair values. In order to assess the reasonableness of the calculated reporting unit fair values, the Company reconciles the aggregate estimated fair values of its reporting units determined to its current market capitalization, allowing for a reasonable control premium. If the carrying amount of a reporting unit, calculated using the above approaches, exceeds the reporting unit’s fair value, an impairment loss is recognized for the amount of the carrying value that exceeds the amount of the reporting unit's fair value, not to exceed the total amount of goodwill allocated to the reporting unit. Additionally, the Company considers income tax effects from any tax deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. There was no impairment of goodwill in any of the fiscal years presented. The Company’s next annual impairment assessment will be performed as of the first day of the fourth quarter of the fiscal year ending November 3, 2018 (fiscal 2018 ) unless indicators arise that would require the Company to reevaluate at an earlier date. The following table presents the changes in goodwill during fiscal 2017 and fiscal 2016 : 2017 2016 Balance at beginning of year $ 1,679,116 $ 1,636,526 Acquisition of Linear (Note 6) 10,532,272 — Goodwill adjustment related to other acquisitions (1) 4,198 44,046 Foreign currency translation adjustment 1,869 (1,456 ) Balance at end of year $ 12,217,455 $ 1,679,116 (1) Represents goodwill related to other acquisitions that were not material to the Company on either an individual or aggregate basis. Intangible Assets The Company reviews finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying value of assets may not be recoverable. Recoverability of these assets is determined by comparison of their carrying value to the estimated future undiscounted cash flows the assets are expected to generate over their remaining estimated useful lives. If such assets are considered to be impaired, the impairment to be recognized in earnings equals the amount by which the carrying value of the assets exceeds their estimated fair value determined by either a quoted market price, if any, or a value determined by utilizing a discounted cash flow technique. Indefinite-lived intangible assets are tested for impairment on an annual basis on the first day of the fourth quarter (on or about August 1) or more frequently if indicators of impairment exist. The impairment test involves a qualitative assessment on the indefinite-lived intangible assets to determine whether it is more likely-than not that the indefinite-lived intangible asset is impaired. If it is determined that the fair value of the indefinite-lived intangible asset is less than the carrying value, the Company would recognize into earnings the amount by which the carrying value of the assets exceeds the estimated fair value. No impairment of intangible assets resulted from the impairment tests in any of the fiscal years presented. Definite-lived intangible assets are amortized on a straight-line basis over their estimated useful lives or on an accelerated method of amortization that is expected to reflect the estimated pattern of economic use. In-process research and development (IPR&D) assets are considered indefinite-lived intangible assets until completion or abandonment of the associated research and development (R&D) efforts. Upon completion of the projects, the IPR&D assets are reclassified to technology-based intangible assets and amortized over their estimated useful lives. As of October 28, 2017 and October 29, 2016 , the Company’s intangible assets consisted of the following: October 28, 2017 October 29, 2016 Gross Carrying Accumulated Gross Carrying Amount Accumulated Amortization Customer relationships $ 4,683,461 $ 449,369 $ 649,159 $ 158,979 Technology-based 1,097,025 101,920 38,731 9,958 Trade-name 72,800 6,906 600 60 Backlog 200 200 200 — IPR&D 24,334 — 29,675 — Total (1) (2) $ 5,877,820 $ 558,395 $ 718,365 $ 168,997 ________ (1) Foreign intangible asset carrying amounts are affected by foreign currency translation. (2) Increases in intangible assets primarily relate to the Acquisition and other acquisitions. See Note 6, Acquisitions, of these Notes to Consolidated Financial Statements for further information. Intangible assets, along with the related accumulated amortization, are removed from the table above at the end of the fiscal year they become fully amortized. Amortization expense related to finite-lived intangible assets was $389.4 million , $75.3 million and $92.1 million in fiscal 2017 , 2016 and 2015 , respectively. The remaining amortization expense will be recognized over a weighted average life of approximately 5.1 years . The Company expects annual amortization expense for intangible assets as follows: Fiscal Year Amortization Expense 2018 $ 565,885 2019 $ 562,696 2020 $ 562,457 2021 $ 562,037 2022 $ 559,107 g. Grant Accounting Certain of the Company’s foreign subsidiaries have received grants from governmental agencies. These grants include capital, employment and research and development grants. Capital grants for the acquisition of property and equipment are netted against the related capital expenditures and amortized as a credit to depreciation expense over the estimated useful life of the related asset. Employment grants, which relate to employee hiring and training, and research and development grants are recognized in earnings in the period in which the related expenditures are incurred by the Company. The amounts recognized were not material in fiscal 2017 , 2016 or 2015 . h. Translation of Foreign Currencies The functional currency for the Company’s foreign sales and research and development operations is the applicable local currency. Gains and losses resulting from translation of these foreign currencies into U.S. dollars are recorded in accumulated other comprehensive (loss) income. Transaction gains and losses and re-measurement of foreign currency denominated assets and liabilities are included in income currently, including those at the Company’s principal foreign manufacturing operations where the functional currency is the U.S. dollar. Foreign currency transaction gains or losses included in other expenses, net, were not material in fiscal 2017 , 2016 or 2015 . i. Derivative Instruments and Hedging Agreements Foreign Exchange Exposure Management — The Company enters into forward foreign currency exchange contracts to offset certain operational and balance sheet exposures from the impact of changes in foreign currency exchange rates. Such exposures result from the portion of the Company’s operations, assets and liabilities that are denominated in currencies other than the U.S. dollar, primarily the Euro; other significant exposures include the British Pound, Philippine Peso and the Japanese Yen. These foreign currency exchange contracts are entered into to support transactions made in the normal course of business, and accordingly, are not speculative in nature. The contracts are for periods consistent with the terms of the underlying transactions, generally one year or less . Hedges related to anticipated transactions are designated and documented at the inception of the respective hedges as cash flow hedges and are evaluated for effectiveness monthly. Derivative instruments are employed to eliminate or minimize certain foreign currency exposures that can be confidently identified and quantified. As the terms of the contract and the underlying transaction are matched at inception, forward contract effectiveness is calculated by comparing the change in fair value of the contract to the change in the forward value of the anticipated transaction, with the effective portion of the gain or loss on the derivative reported as a component of accumulated other comprehensive (loss) income (OCI) in shareholders’ equity and reclassified into earnings in the same period during which the hedged transaction affects earnings. Any residual change in fair value of the instruments, or ineffectiveness, is recognized immediately in other (income) expense. The total notional amounts of forward foreign currency derivative instruments designated as hedging instruments of cash flow hedges denominated in Euros, British Pounds, Philippine Pesos and Japanese Yen as of October 28, 2017 and October 29, 2016 was $194.3 million and $179.5 million , respectively. The fair values of forward foreign currency derivative instruments designated as hedging instruments in the Company’s consolidated balance sheets as of October 28, 2017 and October 29, 2016 were as follows: Fair Value At Balance Sheet Location October 28, 2017 October 29, 2016 Forward foreign currency exchange contracts Prepaid expenses and other current assets $ 257 $ — Forward foreign currency exchange contracts Accrued liabilities $ — $ 5,260 Additionally, the Company enters into forward foreign currency contracts that economically hedge the gains and losses generated by the re-measurement of certain recorded assets and liabilities in a non-functional currency. Changes in the fair value of these undesignated hedges are recognized in other (income) expense immediately as an offset to the changes in the fair value of the asset or liability being hedged. As of October 28, 2017 and October 29, 2016 , the total notional amount of these undesignated hedges was $100.4 million and $46.2 million , respectively. The fair value of these hedging instruments in the Company’s consolidated balance sheets was a liability of $1.8 million as of October 28, 2017 and was immaterial as of October 29, 2016 . The Company estimates that $0.5 million , net of tax, of forward foreign currency derivative instruments included in OCI will be reclassified into earnings within the next 12 months. There was no material ineffectiveness during the fiscal years ended October 28, 2017 and October 29, 2016 . All of the Company’s derivative financial instruments are eligible for netting arrangements that allow the Company and its counterparties to net settle amounts owed to each other. Derivative assets and liabilities that can be net settled under these arrangements have been presented in the Company's consolidated balance sheet on a net basis. As of October 28, 2017 and October 29, 2016 , none of the netting arrangements involved collateral. The following table presents the gross amounts of the Company's derivative assets and liabilities and the net amounts recorded in the Company's consolidated balance sheet as of October 28, 2017 and October 29, 2016 : October 28, 2017 October 29, 2016 Gross amount of recognized liabilities $ (5,039 ) $ (5,788 ) Gross amounts of recognized assets offset in the consolidated balance sheet 3,512 557 Net liabilities presented in the consolidated balance sheet $ (1,527 ) $ (5,231 ) Interest Rate Exposure Management — The Company's current and future debt may be subject to interest rate risk. The Company utilizes interest rate derivatives to alter interest rate exposure in an attempt to reduce the effects of these changes. The market risk associated with the Company’s derivative instruments results from currency exchange rate or interest rate movements that are expected to offset the market risk of the underlying transactions, assets and liabilities being hedged. The counterparties to the agreements relating to the Company’s derivative instruments consist of a number of major international financial institutions with high credit ratings. Based on the credit ratings of the Company’s counterparties as of October 28, 2017 and October 29, 2016, nonperformance is not perceived to be a material risk. Furthermore, none of the Company’s derivatives are subject to collateral or other security arrangements and none contain provisions that are dependent on the Company’s credit ratings from any credit rating agency. While the contract or notional amounts of derivative financial instruments provide one measure of the volume of these transactions, they do not represent the amount of the Company’s exposure to credit risk. The amounts potentially subject to credit risk (arising from the possible inability of counterparties to meet the terms of their contracts) are generally limited to the amounts, if any, by which the counterparties’ obligations under the contracts exceed the obligations of the Company to the counterparties. As a result of the above considerations, the Company does not consider the risk of counterparty default to be significant. The Company records the fair value of its derivative financial instruments in its consolidated financial statements in other current assets, other assets or accrued liabilities, depending on their net position, regardless of the purpose or intent for holding the derivative contract. Changes in the fair value of the derivative financial instruments are either recognized periodically in earnings or in shareholders’ equity as a component of OCI. Changes in the fair value of cash flow hedges are recorded in OCI and reclassified into earnings when the underlying contract matures. Changes in the fair values of derivatives not qualifying for hedge accounting or the ineffective portion of designated hedges are reported in earnings as they occur. For information on the unrealized holding gains (losses) on derivatives included in and reclassified out of accumulated other comprehensive income into the consolidated statement of income related to forward foreign currency exchange contracts, see Note 2o, Accumulated Other Comprehensive (Loss) Income of these Notes to Consolidated Financial Statements. j. Fair Value The Company defines fair value as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Company applies the following fair value hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Level 1 — Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. Level 2 — Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. If the asset or liability has a specified (contractual) term, a Level 2 input must be observable for substantially the full term of the asset or liability. Level 3 — Level 3 inputs are unobservable inputs for the asset or liability in which there is little, if any, market activity for the asset or liability at the measurement date. The tables below, set forth by level, presents the Company’s financial assets and liabilities, excluding accrued interest components, that were accounted for at fair value on a recurring basis as of October 28, 2017 and October 29, 2016 . The tables exclude cash on hand and assets and liabilities that are measured at historical cost or any basis other than fair value. As of October 28, 2017 and October 29, 2016 , the Company held $296.2 million and $252.5 million , respectively, of cash and held-to-maturity investments that were excluded from the tables below. October 28, 2017 Fair Value measurement at Reporting Date using: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Total Assets Cash equivalents: Available-for-sale: Government and institutional money market funds $ 512,882 $ — $ — $ 512,882 Corporate obligations (1) — 238,796 — 238,796 Other assets: Deferred compensation investments 33,510 — — 33,510 Interest rate derivatives — 2,966 — 2,966 Total assets measured at fair value $ 546,392 $ 241,762 $ — $ 788,154 Liabilities Contingent consideration — — 7,891 7,891 Forward foreign currency exchange contracts (2) — 1,527 — 1,527 Total liabilities measured at fair value $ — $ 1,527 $ 7,891 $ 9,418 (1) The amortized cost of the Company’s investments classified as available-for-sale as of October 28, 2017 was $238.9 million . (2) The Company has netting arrangements by counterparty with respect to derivative contracts. See Note 2i, Derivative Instruments and Hedging Agreements , of these Notes to Consolidated Financial Statements for more information related to the Company's master netting arrangements. October 29, 2016 Fair Value measurement at Reporting Date using: Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) Total Assets Cash equivalents: Available-for-sale: Institutional money market funds $ 277,595 $ — $ — $ 277,595 Corporate obligations (1) — 415,660 — 415,660 Short - term investments: Available-for-sale: Securities with one year or less to maturity: Corporate obligations (1) — 2,518,148 — 2,518,148 Floating rate notes, issued at par — 29,989 — 29,989 Floating rate notes (1) — 561,874 — 561,874 Other assets: Deferred compensation investments 26,916 — — 26,916 Total assets measured at fair value $ 304,511 $ 3,525,671 $ — $ 3,830,182 Liabilities Contingent consideration — — 7,555 7,555 Forward foreign currency exchange contracts (2) — 5,231 — 5,231 Total liabilities measured at fair value $ — $ 5,231 $ 7,555 $ 12,786 (1) The amortized cost of the Company’s investments classified as available-for-sale as of October 29, 2016 was $3.5 billion . (2) The Company has master netting arrangements by counterparty with respect to derivative contracts. See Note 2i, Derivative Instruments and Hedging Agreements , of these Notes to Consolidated Financial Statements for more information related to the Company's master netting arrangements. The following methods and assumptions were used by the Company in estimating its fair value disclosures for financial instruments: Cash equivalents and short-term investments — These investments are adjusted to fair value based on quoted market prices or are determined using a yield curve model based on current market rates. Deferred compensation plan investments — The fair value of these mutual fund, money market fund and equity investments are based on quoted market prices. Forward foreign currency exchange contracts — The estimated fair value of forward foreign currency exchange contracts, which includes derivatives that are accounted for as cash flow hedges and those that are not designated as cash flow hedges, is based on the estimated amount the Company would receive if it sold these agreements at the reporting date taking into consideration current interest rates as well as the creditworthiness of the counterparty for assets and the Company’s creditworthiness for liabilities. The fair value of these instruments is based upon valuation models using current market information such as strike price, spot rate, maturity date and volatility. Interest rate derivatives — The fair value of interest rate derivatives are estimated using a discounted cash flow analysis based on the contractual terms of the derivatives. Contingent consideration — The fair value of the contingent consideration was estimated utilizing the income approach and is based upon significant inputs not observable in the market. The income approach is based on two steps. The first step involves a projection of the cash flows that is based on the Company’s estimates of the timing and probability of achieving the defined milestones. The second step involves converting the cash flows into a present value equivalent through discounting. The discount rate reflects the Baa costs of debt plus the relevant risk associated with the asset and the time value of money. The fair value measurement of the contingent consideration encompasses the following significant unobservable inputs: Unobservable Inputs Range Potential contingent consideration payments $8,500 Discount rate 0% - 2% Timing of cash flows 1 to 2 years Probability of achievement 90% - 100% Changes in the fair value of the contingent consideration are recognized in operating income in the period of the estimated fair value change. Significant increases or decreases in any of the inputs in isolation may result in a fluctuation in the fair value measurement. The following table summarizes the change in the fair value of the contingent consideration measured using significant unobservable inputs (Level 3) from October 31, 2015 to October 28, 2017 : Contingent Consideration Balance as of October 31, 2015 $ 2,843 Contingent consideration liability recorded 7,500 Payment made (1) (1,489 ) Fair value adjustment (2) (888 ) Effect of foreign currency (411 ) Balance as of October 29, 2016 $ 7,555 Contingent consideration liability recorded 2,000 Payment made (1) (2,000 ) Fair value adjustment (2) 336 Balance as of October 28, 2017 $ 7,891 (1) The payment is reflected in the statements of cash flows as cash used in financing activities related to the liability recognized at fair value as of the acquisition date and as cash provided by operating activities related to the fair value adjustments previously recognized in earnings. (2) Recorded in research and development expense in the consolidated statements of income. Financial Instruments Not Recorded at Fair Value on a Recurring Basis The table below presents the estimated fair value of certain financial instruments not recorded at fair value on a recurring basis. The carrying amounts of the term loans approximate fair value. The term loans are classified as Level 2 measurements according t |
