Guarantees

3 Months Ended

Mar. 24, 2012

Guarantees [Abstract]

Schedule of Guarantor Obligations [Table Text Block]

Note 6 – Guarantees

We have guaranteed lease obligations of certain food distribution customers.  In the event these retailers are unable to meet their leasepayments or otherwise experience an event of default, we would be unconditionally liable for the outstanding balance of their lease obligations ($8.6 million as of March 24, 2012, as compared to $7.9 million in debt and lease obligations as of December 31, 2011), which would be due in accordance with the underlying agreements.

For guarantees issued after December 31, 2002, we are required to recognize an initial liability for the fair value of the obligation assumed under the guarantee.  The maximum undiscounted payments we would be required to make in the event of default under these guarantees is $6.4 million, which is included in the $8.6 million total referenced above.  These guarantees are secured by certain business assets and personal guarantees of the respective customers.  We believe these customers will be able to perform under their respective agreements and that no payments will be required and no loss will be incurred under the guarantees.  A liability representing the fair value of the obligations assumed under the guarantees of $0.8 million is included in the accompanying consolidated financial statements.

We have also assigned various leases to other entities.  If the assignees become unable to continue making payments under the assigned leases, we estimate our maximum potential obligation with respect to the assigned leases to be $11.0 million as ofMarch 24, 2012 as compared to $11.4 million as of December 31, 2011.