INVESTMENTS IN SECURITIES

12 Months Ended

Dec. 25, 2016

Investments, Debt and Equity Securities [Abstract]

INVESTMENTS IN SECURITIES

INVESTMENTS IN SECURITIES

We recognize investments in available-for-sale securities as cash equivalents, current investments or long-term investments depending upon each security’s length to maturity. Additionally, those securities identified by management at the time of purchase for funding operations in less than one year are classified as current.

The following table summarizes our investments in available-for-sale securities:

	December 25, 2016				December 27, 2015
	Cost		Fair Value		Cost		Fair Value
	(In thousands)
Cash equivalents:
Fixed income securities	$	44,865	$	44,865	$	290,795	$	290,795
Other	61		61		54,831		54,831

All of the fixed income securities classified as cash and cash equivalents above mature within 90 days and all of the fixed income securities classified as short-term investments above mature within one year. The specific identification method is used to determine the cost of each security sold and each amount reclassified out of accumulated other comprehensive loss to earnings. Gross realized gains recognized during 2016 and 2015 related to the Company’s available-for-sale securities totaled $0.9 million and $1.2 million, respectively. Gross realized losses recognized during 2016 and 2015 related to the Company’s available-for-sale securities totaled $83,400 and $25,400, respectively. Proceeds received from the sale or maturity of available-for-sale securities during 2016 and 2015 are disclosed in the Consolidated Statements of Cash Flows. Net unrealized holding gains and losses on the Company’s available-for-sale securities recognized during 2016 and 2015 that have been included in accumulated other comprehensive loss and the net amount of gains and losses reclassified out of accumulated other comprehensive loss to earnings during 2016 and 2015 are disclosed in “Note 14. Stockholders’ Equity.”