Investments in Cash Equivalents and Marketable Securities

9 Months Ended

Sep. 29, 2012

Investments, Debt and Equity Securities [Abstract]

Investments in Cash Equivalents and Marketable Securities

Investments in Cash Equivalents and Marketable Securities

As of September 29, 2012 and December 31, 2011 all short-term investments were classified as available-for-sale and have maturity dates of less than one year. All unrealized gains and losses on available-for-sale investments are included in other comprehensive (loss) income. The cost, net unrealized holding gains, net unrealized holding losses and fair value of available-for-sale investments by types and classes of security at September 29, 2012 consisted of the following:

At September 29, 2012	Cost		Net unrealized holding gains		Net unrealized holding losses		Fair Value
Available-for-sale-included in cash equivalents:
U.S. treasury securities	$	853	$	—	$	—	$	853
Corporate debt securities	14,098		—		—		14,098
Money market funds and other	38,218		—		—		38,218
U.S. government-sponsored enterprise securities	3,499		—		—		3,499
Available-for-sale-included in short-term marketable securities:
U.S. government-sponsored enterprise securities	4,999		—		—		4,999
U.S. treasury securities	6,672		—		—		6,672
Corporate debt securities	14,934		—		—		14,934
Certificates of deposit	3,586		—		—		3,586
	$	86,859	$	—	$	—	$	86,859

The cost, net unrealized holding gains, net unrealized holding losses and fair value of available-for-sale investments by types and classes of security at December 31, 2011 consisted of the following:

At December 31, 2011	Cost		Net unrealized holding gains		Net unrealized holding losses			Fair Value
Available-for-sale-included in cash equivalents:
Corporate debt securities	$	24,010	$	—	$	—		$	24,010
Money market funds and other	40,793		—		—			40,793
U.S. government-sponsored enterprise securities	4,000		—		—			4,000
Available-for-sale-included in short-term marketable securities:
Municipal notes	9,295		—		—			9,295
U.S. treasury securities	7,501		—		—			7,501
U.S. government-sponsored enterprise securities	16,506		—		(1		)	16,505
Corporate debt securities	12,704		1		—			12,705
	$	114,809	$	1	$	(1	)	$	114,809

Investments are considered to be impaired when a decline in fair value is judged to be other-than-temporary. The Company employs a methodology that reviews specific securities in evaluating potential impairment of its investments. In the event that the cost of an investment exceeds its fair value, the Company evaluates, among other factors, the Company’s intent and ability to hold the investment and extent to which the fair value is less than cost; the financial health of and business outlook for the issuer; and operating and financing cash flow factors. During the nine months ended September 29, 2012 the Company did not record any other-than-temporary impairments on its marketable securities.