Financial Instruments Measured at Fair Value (Tables)

6 Months Ended

Jun. 29, 2013

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


	June 29, 2013

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses ⁽¹⁾		Estimated Fair Value

Municipal securities	$	1,370	$	—	$	—	$	1,370
Government-sponsored enterprise securities		5,412		7		—		5,419

	$	6,782	$	7	$	—	$	6,789


	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 June 29, 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 June 29, 2013 and December 29, 2012, were as follows (in thousands):


	June 29, 2013				December 29, 2012

	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value

Due in one year or less	$	6,782	$	6,789	$	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 June 29, 2013 using:
	Level 1		Level 2		Level 3		Total estimated fair value
Cash	$	45,982	$	—	$	—	$	45,982
Municipal securities		—		1,370		—		1,370
Government-sponsored enterprise securities		—		5,419		—		5,419
Money market funds		—		1,458		—		1,458

	$	45,982	$	8,247	$	—	$	54,229


	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

- 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.

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