Fair value measurement (Tables)

6 Months Ended

Jun. 24, 2012

Fair value measurement [Abstract]

Financial Instruments Measured at Fair Value

The following table summarizes the Company’s assets and liabilities measured at fair value in the accompanying condensed consolidated balance sheet as of June 24, 2012 and December 25, 2011:

(in thousands of dollars)
	Fair Value Measurements as of Jun. 24, 2012
	Level 1		Level 2		Level 3		Total
Employee compensation related investments	$	30,299	$	—	$	—	$	30,299
Rabbi trust investments		27,345		—		—		27,345
Total assets	$	57,644	$	—	$	—	$	57,644
Contingent consideration payable a	$	—	$	—	$	21,925	$	21,925
Total liabilities	$	—	$	—	$	21,925	$	21,925

	Fair Value Measurements as of Dec. 25, 2011
	Level 1		Level 2		Level 3		Total
Employee compensation related investments	$	17,224	$	—	$	—	$	17,224
Rabbi trust investments		26,162		—		—		26,162
Total assets	$	43,386	$	—	$	—	$	43,386
Contingent consideration payable a	$	—	$	—	$	15,808	$	15,808
Total liabilities	$	—	$	—	$	15,808	$	15,808

^a  Under certain acquisition agreements entered into during fiscal 2011 and 2012, the Company has agreed to pay the sellers earn-outs based on the financial performance of the acquired businesses. Contingent consideration payable in the table above represents the estimated fair value of future earn-outs payable under such agreements. The fair value of the contingent payments was measured based on the present value of the consideration expected to be transferred. For the twenty-six weeks ended June 24, 2012, the contingent consideration was increased by $13.9 million as a result of new acquisitions, interest accretion and adjustments to fair value. The increase was partially offset by payments of $7.8 million.