Fair Value Measurements (Tables)

12 Months Ended

Jul. 01, 2012

Fair Value Measurements

Schedule of assets and liabilities measured at fair value on a recurring basis

    The following table presents by level, within the fair value hierarchy, assets and liabilities measured at fair value on a recurring basis as of July 1, 2012:

				Fair Value Measurements Assets (Liabilities)
	Total			Level 1		Level 2			Level 3
				(in thousands)
Assets (liabilities):
Cash equivalents (money market accounts)	$	27,276		$	27,276
Trading securities held in a "rabbi trust"(1)		1,143			1,143		—			—
Fair value of non-performance promissory note(2)		205			—		—		$	205
Interest rate swap(3)		(7	)		—		(7	)		—
	$	28,617		$	28,419		(7	)	$	205

(1)

Trading securities held in a rabbi trust are included in Other assets-long term in the consolidated balance sheets (Note 13—Employee Retirement Plans). The Company established a Non-qualified Deferred Compensation Plan for certain members of senior management in fiscal 2009 (Employee contributions were not material until fiscal 2012). Deferred compensation is invested in mutual funds held in a "rabbi trust" and are restricted for payment to participants of the NQDC Plan.

(2)

Refer to Note 4. Acquisitions and dispositions—Sale and franchise of Fannie May retail stores. Included in other assets long-term on the consolidated balance sheet

(3)

Included in other long-term liabilities on the consolidated balance sheet.

        The following table presents by level, within the fair value hierarchy, assets and liabilities measured at fair value on a recurring basis as of July 3, 2011:

				Fair Value Measurements Assets (Liabilities)
	Total			Level 1		Level 2			Level 3
				(in thousands)
Assets (liabilities):
Cash equivalents (money market accounts)	$	20,775		$	20,775
Trading securities held in a "rabbi trust"		281			281
Interest rate swap		(263	)		—		(263	)		—
	$	20,793		$	21,056	$	(263	)