Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 29, 2017

Financial assets and liabilities measured at fair value on a recurring basis are summarized below:



	Total			Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1)		Significant Other Observable Inputs (Level 2)			Significant Unobservable Inputs (Level 3)		Valuation Technique
	(In thousands)
Fair value measurements as of March 29, 2017:
Deferred compensation plan investments ⁽¹⁾	$	11,792		$	11,792	$	—		$	—	market approach
Interest rate swaps, net ⁽²⁾	(1,776		)	—		(1,776		)	—		income approach
Total	$	10,016		$	11,792	$	(1,776	)	$	—

Fair value measurements as of December 28, 2016:
Deferred compensation plan investments ⁽¹⁾	$	11,248		$	11,248	$	—		$	—	market approach
Interest rate swaps ⁽²⁾	(756		)	—		(756		)	—		income approach
Total	$	10,492		$	11,248	$	(756	)	$	—


(1)	The fair values of our deferred compensation plan investments are based on the closing market prices of the elected investments.


(2)	The fair values of our interest rate swaps are based upon Level 2 inputs, which include valuation models as reported by our counterparties. The key inputs for the valuation models are quoted market prices, interest rates and forward yield curves. See Note 8 for details on the interest rate swaps.

Those assets and liabilities measured at fair value on a nonrecurring basis are summarized below:



	Significant Other Observable Inputs (Level 2)		Impairment Charges		Valuation Technique
	(In thousands)
Fair value measurements as of March 29, 2017:
Assets held for sale ⁽¹⁾	$	1,754	$	—	market approach

Fair value measurements as of December 28, 2016:
Assets held for sale ⁽¹⁾	$	1,020	$	1,098	market approach


(1)