Fair Value Measurements

3 Months Ended

6 Months Ended

Jun. 02, 2012

Jun. 02, 2012

Fair Value Disclosures [Abstract]

Fair Value Measurements Disclosure

We measure certain assets at fair value on a nonrecurring basis. These assets include assets acquired and liabilities assumed in an acquisition and,tangible and intangible assets and cost basis investments that are written down to fair value when they are determined to be impaired. During the second quarter of 2012, we determined the fair market value of one of our cost basis investments was lower than the investment value on our balance sheet based on investor approval of a buy-out offer from the majority shareholder. As a result, we recorded an impairment charge of $671.

During the six months ended May 28, 2011, we discontinued production of the polymers used in certain resin products that had been produced in our EIMEA operating segment. As a result, we performed an impairment test on the non-amortizable trademarks and trade names used in resin products. In accordance with accounting standards, we calculated the fair value using a discounted cash flow approach. As a result of this analysis, we recorded an impairment charge of $332 related to the impairment of non-amortizable trademarks and trade names used in the abandoned resin products.

Note 14: Fair Value Measurements

The following table presents information about our financial assets and liabilities that are measured at fair value on a recurring basis as of June 2, 2012, and indicates the fair value hierarchy of the valuation techniques utilized to determine such fair value. The hierarchy is broken down into three levels. Level 1 inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 inputs include data points that are observable such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active, and inputs (other than quoted prices) such as interest rates and yield curves that are observable for the asset or liability, either directly or indirectly. Level 3 inputs are unobservable data points for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability.

				Fair Value Measurements Using:
		June 2,
Description		2012		Level 1		Level 2		Level 3
Assets:
Marketable securities	$	68,720	$	68,720	$	-	$	-
Derivative assets		1,118		-		1,118		-
Interest rate swaps		8,930		-		8,930		-
Cash-flow hedges		7,267				7,267
Liabilities:
Derivative liabilities	$	2,473	$	-	$	2,473	$	-
Contingent consideration liability		1,876		-		-		1,876