Fair Value of Financial Instruments

12 Months Ended

Oct. 28, 2012

Investments All Other Investments [Abstract]

NOTE 4: Fair Value of Financial Instruments

The following table presents assets and liabilities measured at fair value (in thousands):


	Year ended

	October 28, 2012		October 30, 2011		Fair Value Hierarchy

Short-term investments	$	5,611	$	5,583		Level 1

Total financial assets	$	5,611	$	5,583


Deferred compensation plan liabilities	$	5,536	$	5,511		Level 1

Total financial liabilities	$	5,536	$	5,511

The fair value of the deferred compensation plan liabilities is based on the fair value of the short-term investments corresponding to the employees’ investment selections, primarily in mutual funds, based on quoted prices in active markets for identical assets. The deferred compensation plan liability is recorded in Accrued Compensation.

Short-term investments also includes available for sale securities of $0.1 million and $0.1 million at October 28, 2012 and October 30, 2011, respectively.

The Company has a term loan with borrowings at fixed interest rates, and our interest expense related to this borrowing is not affected by changes in interest rates in the near term. The fair value of the term loan was calculated by applying the appropriate fiscal year-end interest rates to our present streams of loan payments.

Year Ended October 28, 2012

Fair Value
Hierarchy

Carrying
Amount

Estimated
Fair Value

Long-Term Debt, including current portion

9,801

11,273

Level II

There have been no changes in the methodology used to fair value the financial instruments as well as no transfers between levels during the fiscal years ended October 28, 2012 and October 30, 2011.