Cash, Cash Equivalents and Short-Term Investments (Tables)

9 Months Ended

Sep. 29, 2012

Short Term Investments Classified by Security Type

Investments that we have classified as short-term, by security type, are as follows (in thousands):


	September 29, 2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses ⁽¹⁾		Estimated Fair Value

Corporate debt securities ⁽²⁾	$	12,021	$	3	$	—	$	12,024
Municipal securities		1,470		—		—		1,470
Government-sponsored enterprise securities		20,948		39		—		20,987

	$	34,439	$	42	$	—	$	34,481


	December 31, 2011
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses⁽¹⁾		Estimated Fair Value

U.S. Treasury securities	$	3,258	$	9	$	—	$	3,267
Corporate debt securities ⁽²⁾		22,454		6		2		22,458
Municipal securities		4,315		—		—		4,315
Government-sponsored enterprise securities		19,033		32		15		19,050
Bank certificates of deposit		2,650		—		—		2,650

	$	51,710	$	47	$	17	$	51,740

(1)

As of September 29, 2012 there were no investments with loss positions. As of December 31, 2011, the cost and fair value of investments with loss positions was $12.8 million. We evaluated the nature of these investments, credit worthiness of the issuer and the duration of these impairments to determine if an other-than-temporary decline in fair value had occurred and concluded that these losses were temporary.

(2)

Corporate debt securities include investments in financial and corporate institutions. No single issuer represents a significant portion of the total corporate debt securities portfolio.

Effective Maturities of Short-Term Investments

Effective maturities of short-term investments at September 29, 2012 and December 31, 2011, were as follows (in thousands):


.	September 29, 2012				December 31, 2011
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due in one year or less	$	15,490	$	15,495	$	44,034	$	44,079
Due after one year through two years		18,949		18,986		7,676		7,661

	$	34,439	$	34,481	$	51,710	$	51,740

Fair Value Assets Measurements on Recurring Basis

The following table summarizes, by major security type, our assets that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy (in thousands):


	Fair value measurements at September 29, 2012 using:
	Level 1		Level 2		Level 3		Total estimated fair value
Cash	$	39,033	$	—	$	—	$	39,033
Corporate debt securities		—		12,024		—		12,024
Municipal securities		—		1,470		—		1,470
Government-sponsored enterprise securities		—		20,987		—		20,987
Money market funds		—		36,597		—		36,597

	$	39,033	$	71,078	$	—	$	110,111


	Fair value measurements at December 31, 2011 using:
	Level 1		Level 2		Level 3		Total estimated fair value
Cash	$	25,359	$	—	$	—	$	25,359
U.S. Treasury securities		3,267		—		—		3,267
Corporate debt securities		—		27,208		—		27,208
Municipal securities		—		4,315		—		4,315
Government-sponsored enterprise securities		—		19,050		—		19,050
Money market funds		—		22,753		—		22,753
Bank certificates of deposit		—		3,050		—		3,050

	$	28,626	$	76,376	$	—	$	105,002

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

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-Name Accounting Standards Codification

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+ Details

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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