Marketable Securities

3 Months Ended

Mar. 30, 2013

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

Marketable Securities:

The following table summarizes the contractual maturities of our marketable securities (at fair value and in thousands): 

	March 30, 2013		December 29, 2012
Short-term marketable securities:
Maturities of less than five years	$	73,550	$	64,865
Long-term marketable securities:
Maturities of more than ten years	4,717		4,717
Total marketable securities	$	78,267	$	69,582

The following table summarizes the composition of our marketable securities (at fair value and in thousands):

	March 30, 2013		December 29, 2012
Short-term marketable securities:
Corporate and government bonds and notes and commercial paper	$	73,550	$	64,865
Long-term marketable securities:
Federally-insured or FFELP guaranteed student loans	4,717		4,717
Total marketable securities	$	78,267	$	69,582

The following table summarizes the composition of our auction rate securities (in thousands):

	March 30, 2013					December 29, 2012
	Par Value		Fair Value		S&P  Credit  rating	Par Value		Fair Value		S&P  Credit  rating
Long-term marketable securities:
Federally-insured or FFELP guaranteed student loans	$	5,700	$	4,717	AA+	$	5,700	$	4,717	AA+
Total auction rate securities	$	5,700	$	4,717		$	5,700	$	4,717

At March 30, 2013, due to continued multiple failed auctions and a determination of illiquidity, the auction rate securities held by the Company are classified as Long-term marketable securities. These auction rate securities are exposed to risks associated with student loan asset-backed notes. Such loans are insured by the federal government or guaranteed by the Federal Family Educational Loan Program ("FFELP"). The Company intends to sell its auction rate securities as markets for these securities resume or reasonable offers become available.