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RESTRICTED CASH AND INVESTMENTS
9 Months Ended
Sep. 26, 2014
Restricted Cash and Investments [Abstract]  
RESTRICTED CASH AND INVESTMENTS
RESTRICTED CASH AND INVESTMENTS
Restricted cash and investments consist principally of collateral that has been provided or pledged to insurance carriers for workers' compensation and state workers' compensation programs. Our insurance carriers and certain state workers' compensation programs require us to collateralize a portion of our workers' compensation obligation. The collateral typically takes the form of cash and cash equivalents and highly rated investment grade securities, primarily in municipal debt securities, corporate debt securities, and asset-backed securities. The majority of our collateral obligations are held in a trust at the Bank of New York Mellon ("Trust"). Our investments have not resulted in any other-than-temporary impairments.
The following is a summary our Restricted cash and investments (in thousands):
 
September 26,
2014
 
December 27,
2013
Cash collateral held by insurance carriers
$
22,643

 
$
23,747

Cash and cash equivalents held in Trust (1)
25,806

 
31,474

Investments held in Trust
92,699

 
86,678

Cash collateral backing letters of credit
1,864

 
1,864

Other (2)
9,269

 
10,795

Total restricted cash and investments
$
152,281

 
$
154,558


(1)
Included in this amount is $0.9 million and $0.8 million of accrued interest at September 26, 2014 and December 27, 2013, respectively.
(2)
Primarily consists of deferred compensation plan accounts, which are comprised of mutual funds.
The following tables present fair value disclosures for our held-to-maturity investments, which are carried at amortized cost (in thousands):
 
September 26, 2014
 
Amortized Cost
 
Gross Unrealized Gain
 
Gross Unrealized Loss
 
Fair Value
Municipal debt securities
$
54,267

 
$
988

 
$
(86
)
 
$
55,169

Corporate debt securities
27,785

 
194

 
(145
)
 
27,834

Asset-backed securities
10,647

 
139

 
(38
)
 
10,748

 
$
92,699

 
$
1,321

 
$
(269
)
 
$
93,751

 
December 27, 2013
 
Amortized Cost
 
Gross Unrealized Gain
 
Gross Unrealized Loss
 
Fair Value
Municipal debt securities
$
54,133

 
$
722

 
$
(398
)
 
$
54,457

Corporate debt securities
19,694

 
180

 
(294
)
 
19,580

Asset-backed securities
12,851

 
141

 
(89
)
 
12,903

 
$
86,678

 
$
1,043

 
$
(781
)
 
$
86,940


The amortized cost and fair value by contractual maturity of our held-to-maturity investments are as follows (in thousands):
 
September 26, 2014
 
Amortized Cost
 
Fair Value
Due in one year or less
$
10,797

 
$
10,853

Due after one year through five years
41,358

 
41,874

Due after five years through ten years
40,544

 
41,024

 
$
92,699

 
$
93,751


Actual maturities may differ from contractual maturities because the issuers of certain debt securities have the right to call or prepay their obligations without penalty.