Fair Value Measurements (Tables)

9 Months Ended

Oct. 03, 2014

Assets and Liabilities Measured at Fair Value on Recurring Basis

The fair value of these certain financial assets and liabilities was determined using the following inputs at October 3, 2014:

	Fair Value Measurements at Reporting Date Using
(In thousands)	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)

Assets
Money market
securities ⁽¹⁾	$	44,246	$	44,246	$	-	$	-

Fixed income available
for sale securities ⁽²⁾		26,009		-		26,009		-

Fixed income trading
securities held in deferred
compensation plan ⁽³⁾		9,759		9,759		-		-

Equity trading securities
held in deferred
compensation plan ⁽³⁾		32,339		32,339		-		-

Total	$	112,353	$	86,344	$	26,009	$	-

Liabilities
Deferred compensation
plan ⁽⁴⁾		43,832		43,832		-		-

Total	$	43,832	$	43,832	$	-	$	-

⁽¹⁾

Included in cash and cash equivalents on the Company’s unaudited condensed consolidated balance sheet.

⁽²⁾

Included in short-term investments on the Company’s unaudited condensed consolidated balance sheet.

⁽³⁾

Included in prepaid expenses and other assets and deferred compensation plan assets on the Company’s unaudited condensed consolidated balance sheet.

⁽⁴⁾

Included in accrued payroll and employee benefits and deferred compensation on the Company’s unaudited condensed consolidated balance sheet.

The fair value of these certain financial assets and liabilities was determined using the following inputs at January 3, 2014:

	Fair Value Measurements at Reporting Date Using
(In thousands)	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)

Assets
Money market
securities ⁽¹⁾	$	37,099	$	37,099	$	-	$	-

Fixed income available
for sale securities ⁽²⁾		33,171		-		33,171		-

Fixed income trading
securities held in deferred
compensation plan ⁽³⁾		9,535		9,535		-		-

Equity trading securities
held in deferred
compensation plan ⁽³⁾		28,444		28,444		-		-

Total	$	108,249	$	75,078	$	33,171	$	-

Liabilities
Deferred compensation
plan ⁽⁴⁾		37,926		37,926		-		-

Total	$	37,926	$	37,926	$	-	$	-

⁽¹⁾

Included in cash and cash equivalents on the Company’s consolidated balance sheet.

⁽²⁾

Included in short-term investments on the Company’s consolidated balance sheet.

⁽³⁾

Included in prepaid expenses and other assets and deferred compensation plan assets on the Company’s consolidated balance sheet.

⁽⁴⁾

Included in accrued payroll and employee benefits and deferred compensation on the Company’s consolidated balance sheet.

Cash, cash equivalents and short-term investments

Cash, cash equivalents and short-term investments consisted of the following as of October 3, 2014:

	Amortized		Unrealized		Unrealized		Estimated
(In thousands)	Cost		Gains		Losses		Fair Value

Classified as current assets:
Cash	$	71,368	$	-	$	-	$	71,368

Cash equivalents:
Money market securities		44,246		-		-		44,246
Total cash equivalents		44,246		-		-		44,246
Total cash and cash equivalents		115,614		-		-		115,614

Short-term investments:
State and municipal bonds		25,977		36		(4)		26,009
Total short-term investments		25,977		36		(4)		26,009

Total cash, cash equivalents and short-term investments	$	141,591	$	36	$	(4)	$	141,623

Cash, cash equivalents and short-term investments consisted of the following as of January 3, 2014:

	Amortized		Unrealized		Unrealized		Estimated
(In thousands)	Cost		Gains		Losses		Fair Value

Classified as current assets:
Cash	$	85,849	$	-	$	-	$	85,849

Cash equivalents:
Money market securities		37,099		-		-		37,099
Total cash equivalents		37,099		-		-		37,099
Total cash and cash equivalents		122,948		-		-		122,948

Short-term investments:
State and municipal bonds		33,155		25		(9)		33,171
Total short-term investments		33,155		25		(9)		33,171

Total cash, cash equivalents and short-term investments	$	156,103	$	25	$	(9)	$	156,119

Summary of Cost and Estimated Fair Value of Short Term Fixed Income Securities

The following table summarizes the cost and estimated fair value of short-term fixed income securities classified as short-term investments based on stated effective maturities as of October 3, 2014:

	Amortized		Estimated
(In thousands)	Cost		Fair Value

Due within one year	$	18,873	$	18,897
Due between one and two years		7,104		7,112
Total	$	25,977	$	26,009