Fair Value Measurements

9 Months Ended

Sep. 28, 2012

Fair Value Measurements:

Fair Value Measurements

2.       FAIR VALUE MEASUREMENTS

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.  To increase the comparability of fair value measures, the following hierarchy prioritizes the inputs according to valuation methodologies used to measure fair value:

Level 1—Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2 – Observable inputs other than Level 1 including quoted prices for similar assets or liabilities, quoted prices in less active markets, or other observable inputs that can be corroborated by observable market data.

Level 3—Unobservable inputs which are supported by little or no market activity.

The Company’s marketable securities are classified within Level 1 because the underlying investments have readily available market prices. 

Marketable securities measured at fair value on a recurring basis are summarized below:

September 28, 2012	Total	Level 1	Level 2	Level 3
Mutual funds – equity securities	$          638	$               638	$            -	$              -
Mutual funds – debt securities	155	155	-	-
Money market mutual funds	47	47	-	-
Total	$          840	$               840	$            -	$              -

December 31, 2011	Total	Level 1	Level 2	Level 3
Mutual funds – equity	$       1,301	$            1,301	$            -	$              -
Mutual funds – debt	314	314	-	-
Money market mutual funds	51	51	-	-
Total	$       1,666	$            1,666	$            -	$              -