Fair Value Measurements (Tables)

6 Months Ended

Jul. 03, 2015

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 July 3, 2015:

	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⁾	$	8,509	$	8,509	$	-	$	-

Fixed income available-for-sale securities ⁽²⁾		17,935		-		17,935		-

Fixed income trading securities held in deferred compensation plan ⁽³⁾		9,393		9,393		-		-

Equity trading securities held in deferred compensation plan ⁽³⁾		33,864		33,864		-		-

Total	$	69,701	$	51,766	$	17,935	$	-

Liabilities
Deferred compensation plan ⁽⁴⁾		46,884		46,884		-		-

Total	$	46,884	$	46,884	$	-	$	-

⁽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 2, 2015:

	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⁾	$	45,478	$	45,478	$	-	$	-

Fixed income available-for-sale securities ⁽²⁾		24,913		-		24,913		-

Fixed income trading securities held in deferred compensation plan ⁽³⁾		9,672		9,672		-		-

Equity trading securities held in deferred compensation plan ⁽³⁾		34,176		34,176		-		-

Total	$	114,239	$	89,326	$	24,913	$	-

Liabilities
Deferred compensation plan ⁽⁴⁾		45,394		45,394		-		-

Total	$	45,394	$	45,394	$	-	$	-

⁽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 July 3, 2015:

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

Classified as current assets:
Cash	$	123,418	$	-	$	-	$	123,418

Cash equivalents:
Money market securities		8,509		-		-		8,509
Total cash equivalents		8,509		-		-		8,509
Total cash and cash equivalents		131,927		-		-		131,927

Short-term investments:
U.S. agency securities		4,000		-		(2)		3,998
State and municipal bonds		13,940		3		(6)		13,937
Total short-term investments		17,940		3		(8)		17,935

Total cash, cash equivalents and short-term investments	$	149,867	$	3	$	(8)	$	149,862

Cash, cash equivalents and short-term investments consisted of the following as of January 2, 2015:

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

Classified as current assets:
Cash	$	84,012	$	-	$	-	$	84,012

Cash equivalents:
Money market securities		45,478		-		-		45,478
Total cash equivalents		45,478		-		-		45,478
Total cash and cash equivalents		129,490		-		-		129,490

Short-term investments:
State and municipal bonds		24,890		27		(4)		24,913
Total short-term investments		24,890		27		(4)		24,913

Total cash, cash equivalents and short-term investments	$	154,380	$	27	$	(4)	$	154,403

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 July 3, 2015:

	Amortized		Estimated
(In thousands)	Cost		Fair Value

Due within one year	$	13,414	$	13,411
Due between one and two years		4,526		4,524
Total	$	17,940	$	17,935