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Fair Value Measurements
3 Months Ended
Mar. 30, 2013
Fair Value Disclosures [Abstract]  
Fair Value Measurements

Note 6 – Fair Value Measurements

Our assets and liabilities carried at fair value are classified and disclosed in one of the following three categories: Level 1 – quoted market prices in active markets for identical assets and liabilities; Level 2 – observable market-based inputs or unobservable inputs that are corroborated by market data; and Level 3 – unobservable inputs that are not corroborated by market data.

At March 30, 2013 and December 29, 2012, our assets and liabilities measured at fair value on a recurring basis included cash equivalents, consisting primarily of money market accounts and short-term certificates of deposit, of $12,403 and $189,381, respectively, and marketable trading securities (included in other currents assets in our consolidated balance sheet) of $49,542 and $46,938, respectively, both determined based on Level 1 criteria, as defined above, and derivative assets of $8,212 and $2,897, respectively, and derivative liabilities of $4,863 and $3,776, respectively, determined based on Level 2 criteria. The change in the fair value of all derivative instruments was a net unrealized gain (loss) of $4,228 and $(8,593) for the thirteen weeks ended March 30, 2013 and March 31, 2012, respectively. The fair value of the cash equivalents approximated cost and the gain or loss on the marketable trading securities was recognized in the consolidated statement of income to reflect these investments at fair value.

Our senior unsecured notes due in 2022 and 2017 are stated at amortized cost, and their respective fair value were determined based on Level 2 criteria above. Our senior unsecured notes due in August 2022 had a fair value of approximately $324,000 and $307,000 at March 30, 2013 and December 29, 2012, respectively, while our senior unsecured notes due in August 2017 had a fair value of approximately $318,000 and $326,000 at March 30, 2013 and December 29, 2012, respectively (see Note 9).