Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2015

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]

The table below summarizes restaurant-level impairment (Level 3) for the periods presented (in thousands):



	13 Weeks Ended				26 Weeks Ended
	June 30, 2015		July 1, 2014		June 30, 2015		July 1, 2014
Total asset impairments and closures	$	3,730	$	487	$	4,677	$	568

Carrying amounts and fair values of certain assets

The following tables summarize the carrying amounts and fair values of certain assets at June 30, 2015 and December 30, 2014, (in thousands):



	June 30, 2015
			Fair Value Estimated Using
	Carrying Amount			Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
Equities⁽¹⁾	$	9,820		$	6,198	$	3,622	$	—
Fixed income⁽¹⁾	5,112			1,201		3,911		—
Money market fund⁽²⁾	29,095			—		29,095		—

	December 30, 2014
			Fair Value Estimated Using
	Carrying Amount			Level 1 Inputs		Level 2 Inputs		Level 3 Inputs
Equities⁽¹⁾	$	10,053		$	6,678	$	3,375	$	—
Fixed income⁽¹⁾	5,355			1,542		3,813		—
Money market fund⁽²⁾	7,602			—		7,602		—


⁽¹⁾	These investments relate to the Deferred Compensation Plan and the POWR Plan and are located in the other assets line item on the Consolidated Balance Sheets. The investments categorized as Level 2 in the fair value hierarchy are valued by using available market information which includes quoted market prices for identical or similar assets in non-active markets.

⁽²⁾

At June 30, 2015 and December 30, 2014, $0.3 million and $0.5 million, respectively, of the balances in the money market fund related to the Deferred Compensation and POWR Plans and were located in the other assets line item on the Consolidated Balance Sheets. The remaining balances in the money market fund were short-term in nature and were classified in cash and cash equivalents on the Consolidated Balance Sheets. Money market funds are valued at amortized cost which reflects the market-based fair value.

Estimated fair value of outstanding borrowings

The estimated fair value of the Company’s outstanding borrowings was as follows (in thousands):



	June 30, 2015		December 30, 2014
Term Loan	$	396,268	$	391,231
Senior Notes	198,550		196,650
Revolving Facility	—		—
	$	594,818	$	587,881
Carrying value	$	592,302	$	595,421