Fair Value Measurements (Tables)

9 Months Ended

Sep. 08, 2012

Fair value measurement on recurring basis

The following table presents assets and liabilities which are measured at fair value on a recurring basis at September 8, 2012 (in millions):



	Fair Value Measurements
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$	2.2	$	—	$	2.2	$	—
Short-term investments ¹	64.2		27.7		36.5		—
Non-current investments ²	34.4		—		34.4		—
Total	$	100.8	$	27.7	$	73.1	$	—
Liabilities:
Contingent consideration ³	$	22.7	$	—	$	—	$	22.7
Total	$	22.7	$	—	$	—	$	22.7


(1)	Included in Prepaid Expenses and Other Current Assets on the balance sheet.


(2)	Included in Other Assets on the balance sheet.


(3)	Included in Other Accrued Liabilities and Accrued Claims and Other Liabilities on the balance sheet.

The following table presents assets and liabilities which are measured at fair value on a recurring basis at year-end 2011 (in millions):



	Fair Value Measurements
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Cash equivalents	$	546.0	$	290.0	$	256.0	$	—
Short-term investments ¹	52.4		22.6		29.8		—
Non-current investments ²	38.7		—		38.7		—
Interest rate swap ¹	4.4		—		4.4		—
Total	$	641.5	$	312.6	$	328.9	$	—
Liabilities:
Contingent consideration ³	$	26.3	$	—	$	—	$	26.3
Total	$	26.3	$	—	$	—	$	26.3


(1)	Included in Prepaid Expenses and Other Current Assets on the balance sheet.


(2)	Included in Other Assets on the balance sheet.


(3)	Included in Other Accrued Liabilities and Accrued Claims and Other Liabilities on the balance sheet.

Reconciliation of the beginning and ending balances for Level 3 liabilities

A reconciliation of the beginning and ending balances for Level 3 liabilities for the first 36 weeks of 2012 follows (in millions):



	Contingent consideration

Balance as of December 31, 2011	$	26.3
Unrealized gain ¹	(3.6		)
Balance as of September 8, 2012	$	22.7
¹^{Unrealized gain on the contingent payments related to Blackhawk's acquisition of Cardpool, Inc. in September 2011.}

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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