Cash, Cash Equivalents and Investments (Tables)

6 Months Ended

Jul. 04, 2015

Cash, Cash Equivalents and Investments

Schedule of cash, cash equivalents, and investments

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

	July 4, 2015
	Cost		Gross Unrealized Losses			Gross Unrealized Gains		Fair Value
Cash and Cash Equivalents:
Cash on hand	$	65,449	$	—		$	—	$	65,449
Available-for-sale securities:
Money market funds	43,689		—			—		43,689
Commercial paper	9,823		—			—		9,823
Certificates of deposit	5,547		—			—		5,547
Municipal bonds	543		—			—		543
Total available-for-sale securities	59,602		—			—		59,602
Total cash and cash equivalents	$	125,051	$	—		$	—	$	125,051
Short-term Investments:
Available-for-sale securities:
Municipal bonds	$	122,148	$	(45	)	$	96	$	122,199
Variable-rate demand notes	14,495		—			—		14,495
Corporate bonds	7,431		(6		)	1		7,426
International government bonds	2,240		(3		)	—		2,237
Commercial paper	1,199		—			—		1,199
Total short-term investments	$	147,513	$	(54	)	$	97	$	147,556
Long-term Investments:
Available-for-sale securities:
Auction rate securities	$	8,000	$	(821	)	$	—	$	7,179
Total long-term investments	$	8,000	$	(821	)	$	—	$	7,179

	January 3, 2015
	Cost		Gross Unrealized Losses			Gross Unrealized Gains		Fair Value
Cash and Cash Equivalents:
Cash on hand	$	52,144	$	—		$	—	$	52,144
Available-for-sale securities:
Money market funds	71,415		—			—		71,415
Certificates of deposit	7,739		—			—		7,739
Commercial paper	5,348		—			—		5,348
Municipal bonds	1,756		—			1		1,757
U.S. government agency	1,202		—			—		1,202
Corporate bonds	1,101		—			—		1,101
U.S. government bonds	1,000		—			—		1,000
Total available-for-sale securities	89,561		—			1		89,562
Total cash and cash equivalents	$	141,705	$	—		$	1	$	141,706
Short-term Investments:
Available-for-sale securities:
Municipal bonds	$	129,005	$	(25	)	$	172	$	129,152
Corporate bonds	33,043		(35		)	25		33,033
Variable-rate demand notes	12,915		—			—		12,915
Commercial paper	8,995		—			—		8,995
Asset-backed securities	5,380		(3		)	—		5,377
International government bonds	2,526		(10		)	—		2,516
U.S. government bonds	650		—			—		650
U.S. government agency	601		—			—		601
Certificates of deposit	250		—			—		250
Total short-term investments	$	193,365	$	(73	)	$	197	$	193,489
Long-term Investments:
Available-for-sale securities:
Auction rate securities	$	8,000	$	(581	)	$	—	$	7,419
Total long-term investments	$	8,000	$	(581	)	$	—	$	7,419

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 July 4, 2015	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Municipal bonds	$	26,686	$	(45	)	$	—	$	—		$	26,686	$	(45	)
Auction rate securities	—		—			7,179		(821		)	7,179		(821		)
Corporate bonds	6,315		(6		)	—		—			6,315		(6		)
International government bonds	2,237		(3		)	—		—			2,237		(3		)
	$	35,238	$	(54	)	$	7,179	$	(821	)	$	42,417	$	(875	)

	Less Than 12 Months					12 Months or Greater					Total
As of January 3, 2015	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Municipal bonds	$	23,735	$	(25	)	$	—	$	—		$	23,735	$	(25	)
Corporate bonds	20,327		(35		)	—		—			20,327		(35		)
Auction rate securities	—		—			7,419		(581		)	7,419		(581		)
Asset-backed securities	5,080		(3		)	—		—			5,080		(3		)
International government bond	2,516		(10		)	—		—			2,516		(10		)
	$	51,658	$	(73	)	$	7,419	$	(581	)	$	59,077	$	(654	)

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 July 4, 2015 (in thousands):

	Cost		Fair Value
Due in one year or less	$	157,646	$	157,704
Due after one year through ten years	37,754		37,739
Due after ten years	19,715		18,894
	$	215,115	$	214,337