Fair Value of Financial Instruments

12 Months Ended

Oct. 30, 2016

Investments, All Other Investments [Abstract]

The following table presents assets and liabilities measured at fair value (in thousands):



	October 30, 2016		November 1, 2015		Fair Value Hierarchy
Short-term investments	$	3,601	$	4,799	Level 1
Total financial assets	$	3,601	$	4,799
Deferred compensation plan liabilities	$	3,601	$	4,683	Level 1
Total financial liabilities	$	3,601	$	4,683

Short-term investments also include available for sale securities of $0.1 million at November 1, 2015.

The fair value of the deferred compensation plan liabilities is based on the fair value of the investments corresponding to the employees’ investment selections, primarily in mutual funds, based on quoted prices in active markets for identical assets. The deferred compensation plan liability is recorded in Accrued compensation in the Consolidated Balance Sheets.

The Company had a term loan with borrowings at a fixed interest rate, and the interest expense related to this borrowing was not affected by changes in interest rates in the near term. The fair value of the term loan was calculated by applying the appropriate fiscal year-end interest rates to present streams of loan payments.

The following table presents the term loan measured at fair value (in thousands):



	November 1, 2015
	Carrying Amount		Estimated Fair Value		Fair Value Hierarchy
Long-term debt, including current portion	$	7,295	$	7,968	Level 2

There have been no changes in the methodology used to fair value the financial instruments as well as no transfers between levels during the fiscal years ended October 30, 2016 and November 1, 2015.