Fair Value Measurement

9 Months Ended

Oct. 02, 2011

Fair Value Measurement [Abstract]

Fair Value Measurement

NOTE I – Fair Value Measurement

The table below summarizes the financial liability that was measured at fair value on a recurring basis as of October 2, 2011:

($ in thousands)	Carrying Value at October 2, 2011		Quoted Prices in Active Markets for Identical (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Loss for Quarter  Ended October 2, 2011
Long-term debt	$	89,700	$	—	$	89,700	$	—	$	—

CTS’ long-term debt consists of a revolving debt agreement. There is a readily determinable market for CTS’ revolving credit debt and it is classified within Level 2 of the fair value hierarchy as the market is not deemed to be active. The fair value of long-term debt was measured using a market approach which uses current industry information.