Marketable Securities

9 Months Ended

Sep. 24, 2011

Marketable Securities

Marketable Securities

(3) Marketable Securities
The Company's marketable securities are all classified as available-for-sale. FASB has established three levels of inputs that may be used to measure fair value:
     Level 1 Observable inputs such as quoted prices in active markets for identical assets or liabilities;
     Level 2 Observable inputs, other than Level 1 inputs in active markets, that are observable either directly or indirectly; and
     Level 3 Unobservable inputs for which there is little or no market data, which require the reporting entity to develop its own
                   assumptions .
The Company's marketable securities values are derived solely from level 1 inputs.

Marketable securities, as of September 24, 2011 and December 25, 2010, consisted of:

				Gross		Gross
				Unrealized		Unrealized
(dollars in thousands)		Amortized		Holding		Holding		Fair
September 24, 2011		Cost		Gains		Losses		Value
Available-for-sale:
Municipal bonds	$	60,806	$	1,658	$	50	$	62,414
Equity securities		1,713		6,894		---		8,607
	$	62,519	$	8,552	$	50	$	71,021

				Gross		Gross
				Unrealized		Unrealized
(dollars in thousands)		Amortized		Holding		Holding		Fair
December 25, 2010		Cost		Gains		Losses		Value
Available-for-sale:
Municipal bonds	$	15,623	$	12	$	---	$	15,635
Equity securities		1,756		8,368		---		10,124
	$	17,379	$	8,380	$	---	$	25,759

Maturities of marketable securities classified as available-for-sale at September 24, 2011, were as follows:

		Amortized		Fair
(dollars in thousands)		Cost		Value
Available-for-sale:
Due within one year	$	2,587	$	2,537
Due after one year through five years		28,088		28,295
Due after five years through ten years		28,632		30,083
Due after ten years		1,499		1,499
Equity securities		1,713		8,607
	$	62,519	$	71,021