Note 7 – Securities

The company invests excess cash in marketable securities consisting primarily of money markets, commercial paper, corporate notes and bonds, and U.S. government securities.

All of the company’s securities are classified as available-for-sale. Available-for-sale securities are carried at fair value with unrealized gains and losses included as a component of AOCI within stockholders’ equity, net of any related tax effect, if such gains and losses are considered temporary. Realized gains and losses on these investments are included in interest income and expense. Declines in value judged by management to be other-than-temporary and credit related are included in impairment of investments in the statement of operations. The noncredit component of impairment is included in AOCI. For the purpose of computing realized gains and losses, cost is identified on a specific identification basis. There were no sales of securities in the first three months of 2014.

Securities are summarized as of March 30, 2014:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Market Value
	(In millions)
Short-term available for sale securities:
U.S. Treasury securities and obligations of U.S. government agencies	$	0.1	$	—	$	—	$	0.1
Corporate debt securities		0.1		—		—		0.1

Total marketable securities	$	0.2	$	—	$	—	$	0.2


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Market Value
	(In millions)
Long-term available for sale securities:
U.S. Treasury securities and obligations of U.S. government agencies	$	1.8	$	0.2	$	—	$	2.0
Corporate debt securities		0.1		—		—	$	0.1

Total securities	$	1.9	$	0.2	$	—	$	2.1

Securities are summarized as of December 29, 2013:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Market Value
	(In millions)
Short-term available for sale securities:
U.S. Treasury securities and obligations of U.S. government agencies	$	0.1	$	—	$	—	$	0.1
Corporate debt securities		—		—		—		—

Total marketable securities	$	0.1	$	—	$	—	$	0.1


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Market Value
	(In millions)
Long-term available for sale securities:
U.S. Treasury securities and obligations of U.S. government agencies	$	2.0	$	0.1	$	—	$	2.1
Corporate debt securities		0.1		—		—	$	0.1

Total securities	$	2.1	$	0.1	$	—	$	2.2

The following table presents the amortized cost and estimated fair market value of available-for-sale securities by contractual maturity as of March 30, 2014.


	Amortized Cost		Market Value
	(In millions)

Due in one year or less	$	0.2	$	0.2
Due after one year through three years		0.2		0.2
Due after three years through ten years		1.2		1.4
Due after ten years	$	0.5	$	0.5

	$	2.1	$	2.3