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Debt
6 Months Ended
Jul. 02, 2011
Debt [Abstract]  
Debt
Note 4. Debt
The fair value of the Company’s debt is primarily based on the credit spread above U.S. Treasury securities on notes with similar rates, credit rating, and remaining maturities. The fair value of the Company’s total debt, including short-term borrowings, was $1.60 billion at July 2, 2011 and $1.40 billion at January 1, 2011. Fair value amounts were primarily based on Level 2 inputs, which are defined as inputs other than quoted prices in active markets that are either directly or indirectly observable.
As of July 2, 2011, the Company was in compliance with its financial covenants.