Financial Instruments Measured at Fair Value (Tables)

3 Months Ended

Mar. 30, 2013

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Short-Term Investments by Security Type

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

	March 30, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses (1)		Estimated Fair Value
Municipal securities	$	1,370	$	—	$	—	$	1,370
Government-sponsored enterprise securities		5,927		11		—		5,938
	$	7,297	$	11	$	—	$	7,308

	December 29, 2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses (1)		Estimated Fair Value
Municipal securities	$	1,470	$	—	$	—	$	1,470
Government-sponsored enterprise securities		5,937		14		—		5,951
	$	7,407	$	14	$	—	$	7,421

(1) As of March 30, 2013 and December 29, 2012 there were no investments in our portfolio in a loss position.

Effective Maturities of Short-Term Investments

Effective maturities of short-term investments at March 30, 2013 and December 29, 2012, were as follows (in thousands):

	March 30, 2013				December 29, 2012
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due in one year or less	$	7,297	$	7,308	$	7,407	$	7,421

Assets Measured at Fair Value 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 March 30, 2013 using:
	Level 1		Level 2		Level 3		Total estimated fair value
Cash	$	39,537	$	—	$	—	$	39,537
Municipal securities		—		1,370		—		1,370
Government-sponsored enterprise securities		—		5,938		—		5,938
Money market funds		—		1,856		—		1,856
	$	39,537	$	9,164	$	—	$	48,701
	Fair value measurements at December 29, 2012 using:
	Level 1		Level 2		Level 3		Total estimated fair value
Cash	$	101,054	$	—	$	—	$	101,054
Municipal securities		—		1,470		—		1,470
Government-sponsored enterprise securities		—		5,951		—		5,951
Money market funds		—		1,754		—		1,754
	$	101,054	$	9,175	$	—	$	110,229