Marketable Securities

9 Months Ended

Sep. 24, 2011

Marketable Securities

Marketable Securities

4. Marketable Securities

        The amortized cost, gross unrealized gains, gross unrealized losses and fair value for marketable securities by major security type were as follows:

	September 24, 2011
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Time deposits	$	6,188	$	—	$	—		$	6,188
Auction rate securities		11,972		—		(902	)		11,070
	$	18,160	$	—	$	(902	)	$	17,258

	December 25, 2010
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Time deposits	$	9,834	$	—	$	—		$	9,834
Auction rate securities		11,974		—		(597	)		11,377
	$	21,808	$	—	$	(597	)	$	21,211

        As of September 24, 2011, we held $11,070 in auction rate securities which are variable rate debt instruments, which bear interest rates that reset approximately every 35 days. The auction rate securities owned were rated AAA by a major credit rating agency and are guaranteed by the Federal Family Education Loan Program (FFELP). The underlying securities have contractual maturities which are generally greater than ten years. The auction rate securities are classified as available for sale and are recorded at fair value.

        Maturities of debt securities were as follows:

	September 24, 2011				December 25, 2010
	Amortized Cost		Fair Value		Amortized Cost		Fair Value
Due less than one year	$	6,188	$	6,188	$	9,834	$	9,834
Due after one year through five years		—		—		—		—
Due after ten years		11,972		11,070		11,974		11,377
	$	18,160	$	17,258	$	21,808	$	21,211