Fair Value Measurements (Tables)

12 Months Ended

Dec. 25, 2011

Fair Value, Assets and Liabilities Measured on Nonrecurring Basis [Table Text Block]

Our non-financial assets, such as goodwill, other intangible assets and property, plant and equipment are only recorded at fair value if an impairment charge is recognized. The following tables present non-financial assets that were measured and recorded at fair value on a non-recurring basis and the total impairment losses recorded during 2011, 2010 and 2009 on those assets:



(In thousands)	Net Carrying Value as of		Fair Value Measured and Recorded Using						Impairment Losses
	December 25, 2011		Level 1		Level 2		Level 3		December 25, 2011
Goodwill	$	—	$	—	$	—	$	—	$	152,093
Other intangible assets	2,864		—		—		2,864		10,574
Property, plant and equipment, net	—		—		—		—		1,767
Total impairment losses									$	164,434



(In thousands)	Net Carrying Value as of		Fair Value Measured and Recorded Using						Impairment Losses
(In thousands)	December 26, 2010		Level 1		Level 2		Level 3		December 26, 2010
Property, plant and equipment, net	$	4,838	$	—	$	—	$	4,838	$	16,148
Total impairment losses									$	16,148



(In thousands)	Net Carrying Value as of		Fair Value Measured and Recorded Using						Impairment Losses
(In thousands)	December 27, 2009		Level 1		Level 2		Level 3		December 27, 2009
Property, plant and equipment, net	$	—	$	—	$	—	$	—	$	4,179
Total impairment losses									$	4,179

We recorded impairment charges during 2011, 2010 and 2009 related to the write-down of certain assets to their fair value. We classified all these measurements as Level 3, as we used unobservable inputs within the valuation methodologies that were significant to the fair value measurements, and the valuations required management judgment due to the absence of quoted market prices. See Note 5 for information regarding the valuation techniques utilized to determine fair value.

- Definition

Tabular disclosure of assets and liabilities by class, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). The disclosures that may be required or desired include: (a) the fair value measurements recorded during the period and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets or liabilities (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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