Cash, Cash Equivalents and Investments (Tables)

3 Months Ended

Mar. 29, 2014

Cash, Cash Equivalents and Investments

Schedule of cash, cash equivalents, and investments

The Company’s cash, cash equivalents and investments consist of the following (in thousands):

	March 29, 2014
	Cost		Gross Unrealized Losses			Gross Unrealized Gains		Fair Value
Cash and Cash Equivalents:
Cash on hand	$	37,132	$	—		$	—	$	37,132
Available-for-sale securities:
Money market funds	85,070		—			—		85,070
Certificates of deposit	6,121		—			—		6,121
Total available-for-sale securities	91,191		—			—		91,191
Total cash and cash equivalents	$	128,323	$	—		$	—	$	128,323
Short-term Investments:
Available-for-sale securities:
Municipal bonds	$	133,965	$	(11	)	$	238	$	134,192
Variable-rate demand notes	35,840		—			—		35,840
Corporate bonds	23,776		(15		)	64		23,825
Asset-backed securities	908		(1		)	1		908
Total short-term investments	$	194,489	$	(27	)	$	303	$	194,765
Long-term Investments:
Available-for-sale securities:
Auction rate securities	$	12,425	$	(1,428	)	$	—	$	10,997
Total long-term investments	$	12,425	$	(1,428	)	$	—	$	10,997

	December 28, 2013
	Cost		Gross Unrealized Losses			Gross Unrealized Gains		Fair Value
Cash and Cash Equivalents:
Cash on hand	$	45,544	$	—		$	—	$	45,544
Available-for-sale securities:
Money market funds	39,538		—			—		39,538
Certificates of deposit	7,768		—			—		7,768
Commercial paper	2,499		—			—		2,499
Municipal bonds	451		—			—		451
Total available-for-sale securities	50,256		—			—		50,256
Total cash and cash equivalents	$	95,800	$	—		$	—	$	95,800
Short-term Investments:
Available-for-sale securities:
Municipal bonds	$	119,289	$	(11	)	$	182	$	119,460
Variable-rate demand notes	38,025		—			—		38,025
Corporate bonds	17,788		(4		)	60		17,844
Commercial paper	3,748		—			—		3,748
Asset-backed securities	515		—			1		516
Total short-term investments	$	179,365	$	(15	)	$	243	$	179,593
Long-term Investments:
Available-for-sale securities:
Auction rate securities	$	12,425	$	(1,793	)	$	—	$	10,632
Total long-term investments	$	12,425	$	(1,793	)	$	—	$	10,632

Schedule of available-for-sale investments in continuous unrealized loss position by length of time

The available-for-sale investments that were in a continuous unrealized loss position, aggregated by length of time that individual securities have been in a continuous loss position, were as follows (in thousands):

	Less Than 12 Months					12 Months or Greater					Total
As of March 29, 2014	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Auction rate securities	$	—	$	—		$	10,997	$	(1,428	)	$	10,997	$	(1,428	)
Municipal bonds	10,662		(11		)	—		—			10,662		(11		)
Corporate bonds	7,426		(15		)	—		—			7,426		(15		)
Asset-backed securities	501		(1		)	—		—			501		(1		)
	$	18,589	$	(27	)	$	10,997	$	(1,428	)	$	29,586	$	(1,455	)

	Less Than 12 Months					12 Months or Greater					Total
As of December 28, 2013	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Municipal bonds	$	11,079	$	(11	)	$	—	$	—		$	11,079	$	(11	)
Auction rate securities	—		—			10,632		(1,793		)	10,632		(1,793		)
Corporate bonds	2,605		(4		)	—		—			2,605		(4		)
	$	13,684	$	(15	)	$	10,632	$	(1,793	)	$	24,316	$	(1,808	)

Summarization of contractual underlying maturities of available-for-sale investments

The following summarizes the contractual underlying maturities of the Company’s available-for-sale investments at March 29, 2014 (in thousands):

	Cost		Fair Value
Due in one year or less	$	168,349	$	168,456
Due after one year through ten years	84,666		84,836
Due after ten years	45,090		43,661
	$	298,105	$	296,953