Marketable Securities

6 Months Ended

Jun. 28, 2014

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): 

	June 28, 2014		December 28, 2013
Short-term marketable securities:
Maturities of less than five years	$	109,061	$	101,505
Long-term marketable securities:
Maturities of more than ten years	—		5,241
Total marketable securities	$	109,061	$	106,746

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

	June 28, 2014		December 28, 2013
Short-term marketable securities:
Corporate and government bonds and notes and commercial paper	$	109,061	$	101,505
Long-term marketable securities:
Federally-insured or FFELP guaranteed student loans	—		5,241
Total marketable securities	$	109,061	$	106,746

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

	June 28, 2014					December 28, 2013
	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	$	5,241	AA+
Total auction rate securities	$	—	$	—		$	5,700	$	5,241

On June 19, 2014, we sold our remaining auction rate securities, with a par value of $5.7 million and an estimated fair value of $5.2 million, for $5.5 million. As a result, we reported a gain of $1.7 million in the Consolidated Statement of Operations and relieved $1.1 million of previously unrealized gain, net of taxes, from Accumulated other comprehensive loss in the second quarter of fiscal 2014.