Fair Value Measurements (Tables)

9 Months Ended

Oct. 01, 2011

Financial Assets And Liabilities Carried At Fair Value


	Level 1		Level 2		Level 3		Total
Assets:
U.S. government and agency securities	$	43,461	$	—	$	—	$	43,461
Obligations of government-sponsored enterprises (1)		14,117		—		—		14,117
State and municipal bonds		123,214		—		—		123,214
Corporate securities		71,785		—		2,588		74,373
Other investments		36		—		—		36

Investments subtotal		252,613		—		2,588		255,201
Forward contracts (2)		3,611		3,500		—		7,111
Money market investments related to the deferred compensation plan		3,157		—		—		3,157
Total assets at fair value	$	259,381	$	3,500	$	2,588	$	265,469


Liabilities:
Liabilities related to the deferred compensation plan		3,157		—		—		3,157

Total liabilities at fair value	$	3,157	$	—	$	—	$	3,157

Financial assets and liabilities carried at fair value as of December 31, 2010, are classified below (in thousands):


	Level 1		Level 2		Level 3		Total
Assets:
U.S. government and agency securities	$	21,318	$	—	$	—	$	21,318
Obligations of government-sponsored enterprises (1)		5,785		—		—		5,785
State and municipal bonds		131,626		—		2,683		134,309
Corporate securities		46,683		—		2,914		49,597
Other investments		36		—		—		36

Investments subtotal		205,448		—		5,597		211,045
Forward contracts (2)		1,569		1,706		—		3,275
Money market investments related to the deferred compensation plan		3,427		—		—		3,427

Total assets at fair value	$	210,444	$	1,706	$	5,597	$	217,747


Liabilities:
Liabilities related to the deferred compensation plan		3,427		—		—		3,427

Total liabilities at fair value	$	3,427	$	—	$	—	$	3,427

(1)	Includes investments in notes issued by the Federal Home Loan Mortgage Corporation, the Federal National Mortgage Association, the Federal Farm Credit Banks, and the Federal Home Loan Bank.

(2)		The fair value of forward contracts are calculated as follows:
	a.	Fair value of forward collar contract associated with forecasted sales hedges are calculated using the midpoint of ask and bid rates for similar contracts.
	b.	Fair value of regular forward contracts associated with forecasted sales hedges are calculated using the period-end exchange rate adjusted for the discount rate (3 month LIBOR rate).
	c.	Fair value of balance sheet hedges are calculated at the period end exchange rate adjusted for current forward points unless the hedge has been traded but not settled at period end. If this is the case, the fair value is calculated at the rate at which the hedge is being settled.

Assets Measured Fair Value On Recurring Basis


	Nine Months Ended
	October 1, 2011			October 2, 2010
Balance at beginning of the year	$	5,597		$	7,047
Transfers to Level 3		—			—
Total losses (realized or unrealized):
Included in earnings		(362	)		—
Included in other comprehensive income (loss)		317			200
Purchases and settlements (net)		(2,964	)		(1,650	)

Balance at end of period	$	2,588		$	5,597

Total gains and (losses) for the period included in earnings attributable to the change in unrealized losses relating to assets still held at end of period	$	—		$	—

Summary Of Short-Term And Long-Term Investments


	As of October 1, 2011
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
U.S. government and agency securities	$	43,404	$	93	$	(36	)	$	43,461
Obligations of government-sponsored enterprises		14,091		28		(2	)		14,117
State and municipal bonds		122,864		384		(34	)		123,214
Corporate securities		75,459		4,512		(5,598	)		74,373
Other investments		36		—		—			36

Total investments	$	255,854	$	5,017	$	(5,670	)	$	255,201


	As of December 31, 2010
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
U.S. government and agency securities	$	21,226	$	98	$	(6	)	$	21,318
Obligations of government-sponsored enterprises		5,731		54		—			5,785
State and municipal bonds		134,370		402		(463	)		134,309
Corporate securities		49,884		199		(486	)		49,597
Other investments		36		—		—			36

Total investments	$	211,247	$	753	$	(955	)	$	211,045

Maturity Dates Of Investment


	As of October 1, 2011
	Amortized Cost		Estimated Fair Value
Less than 1 year	$	147,651	$	147,115
1 to 5 years		106,889		106,787
6 to 10 years		1,314		1,299
Thereafter		—		—

Total	$	255,854	$	255,201

- Definition

Tabular disclosure of the fair value measurement of assets 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 asset.

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- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

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