Fair Value Measurements (Tables)

9 Months Ended

Oct. 02, 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 October 2, 2015:

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

Assets
Money market securities ⁽¹⁾	$	3,608	$	3,608	$	-	$	-

Fixed income available- for-sale securities ⁽²⁾		26,837		-		26,837		-

Fixed income trading securities held in deferred compensation plan ⁽³⁾		9,007		9,007		-		-

Equity trading securities held in deferred compensation plan ⁽³⁾		32,277		32,277		-		-
Total	$	71,729	$	44,892	$	26,837	$	-

Liabilities
Deferred compensation plan ⁽⁴⁾		45,038		45,038		-		-
Total	$	45,038	$	45,038	$	-	$	-

⁽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
			Quoted Prices in				Significant
			Active Markets for		Significant Other		Unobservable
			Identical Assets		Observable Inputs		Inputs
(In thousands)	Total		(Level 1)		(Level 2)		(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 October 2, 2015:

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

Classified as current assets:
Cash	$	120,849	$	-	$	-	$	120,849

Cash equivalents:
Money market securities		3,608		-		-		3,608
Total cash equivalents		3,608		-		-		3,608
Total cash and cash equivalents		124,457		-		-		124,457

Short-term investments:
U.S. agency securities		16,000		14		-		16,014
State and municipal bonds		10,821		3		(1)		10,823
Total short-term investments		26,821		17		(1)		26,837

Total cash, cash equivalents and short-term investments	$	151,278	$	17	$	(1)	$	151,294

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 October 2, 2015:

	Amortized		Estimated
(In thousands)	Cost		Fair Value

Due within one year	$	10,821	$	10,823
Due between one and two years		16,000		16,014
Total	$	26,821	$	26,837