Fair Value of Financial Instruments

12 Months Ended

Nov. 03, 2013

Investments All Other Investments [Abstract]

NOTE 4: Fair Value of Financial Instruments

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


	November 3, 2013		October 28, 2012		Fair Value Hierarchy
Short-term investments	$	6,144	$	5,611	Level 1

Total financial assets	$	6,144	$	5,611


Deferred compensation plan liabilities	$	6,041	$	5,536	Level 1

Total financial liabilities	$	6,041	$	5,536

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.

Short-term investments also includes available for sale securities of $0.1 million at November 3, 2013 and October 28, 2012.

The Company has a term loan with borrowings at fixed interest rates, and our interest expense related to this borrowing is 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 our present streams of loan payments.

November 3, 2013

(in 000’s)

Carrying
Amount

Estimated
Fair Value

Fair Value
Hierarchy

Long-Term Debt, including current portion

8,966

9,956

Level II

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 November 3, 2013 and October 28, 2012.