Cash Equivalents And Marketable Securities

9 Months Ended

Jul. 03, 2011

Cash Equivalents And Marketable Securities

Cash Equivalents And Marketable Securities

15. Cash Equivalents and Marketable Securities

The Company considers all highly liquid instruments with an original maturity of three months or less to be cash equivalents. Substantially all cash and cash equivalents are invested in U.S. Treasury Bills and other U.S. government agency securities. The Company accounts for marketable securities in accordance with FASB ASC 320, Investments—Debt and Equity Securities. All marketable securities must be classified as one of the following: held-to-maturity, available-for-sale, or trading. The Company classifies its marketable securities as available-for-sale and, as such, carries the investments at fair value, with unrealized holding gains and losses reported in stockholders' equity as a separate component of accumulated other comprehensive income (loss). The cost of securities sold is determined based on the specific identification method. Realized gains and losses, and declines in value judged to be other than temporary, are included in investment income.

As of July 3, 2011, available-for-sale securities consisted of the following:

		0000		0000		0000		0000			0000
(000's omitted)	Cost		Accrued Interest		Gross Unrealized					Estimated Fair Value
					Gains		Losses
Money-market funds	$	98	$	—	$	—	$	—		$	98
U.S. government agency and Treasury securities		10,308		42		—		(2	)		10,348
Corporate obligations		1,304		9		13		—			1,326
	$	11,710	$	51	$	13	$	(2	)	$	11,772

As of October 3, 2010, available-for-sale securities consisted of the following:

(000's omitted)	Cost		Accrued  Interest		Gross Unrealized				Estimated  Fair Value
					Gains		Losses
Money-market funds	$	77	$	—	$	—	$	—	$	77
U.S. government agency and Treasury securities		13,498		—		—		—		13,498
Corporate obligations		3,163		10		30		—		3,203
	$	16,738	$	10	$	30	$	—	$	16,778

The contractual maturities of these investments as of July 3, 2011 were as follows:

		00000		00000
(000's omitted)	Cost		Fair Value
Within 1 year	$	11,710	$	11,772
After 1 year through 5 years		—		—
After 5 years through 10 years		—		—
After 10 years		—		—
	$	11,710	$	11,772

The contractual maturities of these investments as of October 3, 2010 were as follows:

(000's omitted)	Cost		Fair Value
Within 1 year	$	13,575	$	13,575
After 1 year through 5 years		3,160		3,200
After 5 years through 10 years		—		—
After 10 years		3		3
	$	16,738	$	16,778

The Company's available-for-sale securities were included in the following captions in the condensed consolidated balance sheets:

(000's omitted)	July 3, 2011		October 3, 2010
Cash equivalents	$	10,446	$	13,575
Marketable securities		1,326		3,203
	$	11,772	$	16,778

Gross realized gains and (losses) on available-for-sale securities for the three and nine months ended July 3, 2011 and July 4, 2010, included in "Investment and other income, net" on the consolidated income statements, were as follows:

(000's omitted)	For Three Months Ended July 3, 2011		For Three Months Ended July 4, 2010		For Nine Months Ended July 3, 2011		For Nine Months Ended July 4, 2010
Gross realized gains	$	—	$	1	$	—	$	1
Gross realized losses		—		—		—		—
Total, net	$	—	$	1	$	—	$	1