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Investments In Marketable Securities
 6 Months Ended
Jun. 29, 2013
Investments In Marketable Securities [Abstract]  
Investments In Marketable Securities

Note 5—Investments in Marketable Securities

 

Investments in marketable securities consist of the following (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 29, 2012

 

 

 

 

 

 

 

 

Net

 

 

 

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Fair

 

 

 

 

 

Cost

 

 

Loss

 

 

Value

 

 

 

 

 

 

 

 

 

 

 

 

 

Auction and variable floating rate notes

 

 

$
415 

 

$

 -

 

$
415 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

At December 29, 2012, the Level 3 fair value of the Company’s auction rate security consists of the par value of $500,000 adjusted for a realized loss of $85,000, recorded as other expense as of December 31, 2012.

 

Realized gains and losses on the sale of investments in marketable securities are determined using the specific identification method.  Other than the sale of Company’s auction rate security, described below, there were no sales of available-for-sale securities prior to maturity in 2012 or 2011.

 

The following table provides the breakdown of investments in marketable securities with unrealized losses (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 29, 2012

 

 

 

 

Continuous Unrealized Loss

 

 

 

 

Less than 12 months

 

 

12 months or greater

 

 

 

 

Fair

 

 

Unrealized

 

 

Fair

 

 

Unrealized

 

 

 

 

Value

 

 

Loss

 

 

Value

 

 

Loss

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Auction and variable floating rate notes

 

 

$
415 

 

$

 -

 

$

 -

 

$

 -

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Auction Rate Securities

 

As of December 29, 2012, the Company held one investment in a Baa1 rated auction rate debt security of a municipality with a total purchase cost of $0.5 million and recorded a permanent impairment of this asset for a realized loss of $85,000.  During the first quarter of 2013, the Company sold this auction rate security for $415,000.