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Fair Value Measurements (Tables)
 12 Months Ended
Jun. 30, 2013
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, financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2013:

 

 

 

 

 

Fair Value Measurements
Assets (Liabilities)

 

 

 

Carrying Value

 

Level 1

 

Level 2

 

Level 3

 

 

 

 

 

 

 

(in thousands)

 

 

 

Assets (liabilities):

 

 

 

 

 

 

 

 

 

Trading securities held in a “rabbi trust” (1)

 

$

1,708

 

$

1,708

 

$

—

 

$

—

 

Non-performance promissory note (2)

 

205

 

—

 

—

 

205

 

 

 

$

1,913

 

$

1,708

 

$

—

 

$

205

 

 

(1)         Trading securities held in a rabbi trust are measured using quoted market prices at the reporting date and are included in Other assets in the consolidated balance sheets.  The Company established a Non-qualified Deferred Compensation Plan (Note 14 — Employee Retirement Plans) for certain members of senior management in fiscal 2009. Deferred compensation is invested in mutual funds held in a “rabbi trust” which is 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 on the consolidated balance sheets.

 

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

 

 

 

 

 

Fair Value Measurements
Assets (Liabilities)

 

 

 

Carrying Value

 

Level 1

 

Level 2

 

Level 3

 

 

 

 

 

 

 

(in thousands)

 

 

 

Assets (liabilities):

 

 

 

 

 

 

 

 

 

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

 

(7

)

—

 

(7

)

—

 

 

 

$

1,341

 

$

1,143

 

$

(7

)

$

205

 

 

(1)         Trading securities held in a rabbi trust are measured using quoted market prices at the reporting date and are included in Other assets in the consolidated balance sheets. (Note 14 — Employee Retirement Plans).

(2)         Refer to Note 4. Acquisitions and dispositions — Sale and franchise of Fannie May retail stores. Included in other assets on the consolidated balance sheets.