Fair Value Measurements

3 Months Ended

Apr. 04, 2015

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair Value Measurements

The following tables set forth by level within the fair value hierarchy, our financial assets that were accounted for at fair value on a recurring basis, according to the valuation techniques we used to determine their fair value (in thousands):

	April 4, 2015
	Level 1		Level 2		Level 3		Total
Marketable debt securities – current
U.S. Treasury securities	$	17,510	$	—	$	—	$	17,510
Corporate bonds	—		20,118		—		20,118
Commercial paper	—		14,987		—		14,987
U.S. Agency bonds	—		12,521		—		12,521
Municipal bonds	—		9,899		—		9,899
	17,510		57,525		—		75,035
Marketable debt securities – non-current
U.S. Treasury securities	15,021		—		—		15,021
Corporate bonds	—		12,683		—		12,683
U.S. Agency bonds	—		10,034		—		10,034
Municipal bonds	—		3,136		—		3,136
	15,021		25,853		—		40,874
	$	32,531	$	83,378	$	—	$	115,909

	January 3, 2015
	Level 1		Level 2		Level 3		Total
Marketable debt securities – current
U.S. Treasury securities	$	17,506	$	—	$	—	$	17,506
Corporate bonds	—		20,139		—		20,139
U.S. Agency bonds	—		12,525		—		12,525
Commercial paper	—		12,486		—		12,486
Municipal bonds	—		6,953		—		6,953
	17,506		52,103		—		69,609
Marketable debt securities – non-current
U.S. Treasury securities	14,990		—		—		14,990
Corporate bonds	—		15,236		—		15,236
U.S. Agency bonds	—		10,014		—		10,014
Municipal bonds	—		4,201		—		4,201
	14,990		29,451		—		44,441
	$	32,496	$	81,554	$	—	$	114,050

At April 4, 2015 and January 3, 2015, we had $1.2 million and $1.0 million, respectively, of debt and equity securities that fund our deferred compensation plan and are classified in other assets in our condensed consolidated balance sheets. We also had corresponding deferred compensation plan liabilities of $1.2 million and $1.0 million at April 4, 2015 and January 3, 2015, respectively, which are included in other long-term liabilitiesin our condensed consolidated balance sheets. The majority of the debt and equity securities are Level 1 as they trade with sufficient frequency and volume to enable us to obtain pricing information on an ongoing basis. Unrealized gains/(losses) on the debt and equity securities offset those associated with the corresponding deferred compensation plan liabilities.