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FAIR VALUE (Tables)

3 Months Ended

Mar. 26, 2022

FAIR VALUE

Assets measured at fair value

Assets measured at fair value are as follows (in thousands):


		March 26, 2022												March 27, 2021
		Quoted			Prices with									Quoted			Prices with
		Prices in			Other				Prices with					Prices in			Other				Prices with
		Active			Observable				Unobservable					Active			Observable				Unobservable
		Markets			Inputs				Inputs					Markets			Inputs				Inputs
		(Level 1)			(Level 2)				(Level 3)		Total			(Level 1)			(Level 2)				(Level 3)		Total
Money market funds		$	18		$	9,641		$	—		$	9,659		$	19		$	1,127		$	—		$	1,146
Fixed income funds			2,279			16,128			—			18,407			244			16,264			—			16,508
Treasury securities			342			—			—			342			—			—			—			—
Equity securities			19,289			—			—			19,289			18,496			—			—			18,496
Alternative investments			—			—			3,964			3,964			—			—			2,126			2,126
Mutual funds:
Domestic stock funds			10,576			—			—			10,576			9,388			—			—			9,388
International stock funds			1,621			—			—			1,621			1,395			—			—			1,395
Target funds			22			—			—			22			21			—			—			21
Bond funds			141			—			—			141			145			—			—			145
Alternative funds			501			—			—			501			496			—			—			496
Total mutual funds			12,861			—			—			12,861			11,445			—			—			11,445
Total		$	34,789		$	25,769		$	3,964		$	64,522		$	30,204		$	17,391		$	2,126		$	49,721
Assets at fair value		$	34,789		$	25,769		$	3,964		$	64,522		$	30,204		$	17,391		$	2,126		$	49,721

Available for sale investment portfolio

Ardellis’ available for sale investment portfolio, including funds held with the State of Michigan, consists of the following (in thousands):


		March 26, 2022									March 27, 2021
					Unrealized									Unrealized
		Cost			Gain			Fair Value			Cost			Gain			Fair Value
Fixed Income		$	19,049		$	(642)		$	18,407		$	15,867		$	642		$	16,509
Treasury Securities			342			—			342			—			—			—
Equity			15,347			3,942			19,289			14,664			3,832			18,496
Mutual Funds			9,392			2,820			12,212			8,769			2,049			10,818
Alternative Investments			3,028			936			3,964			1,929			197			2,126
Total		$	47,158		$	7,056		$	54,214		$	41,229		$	6,720		$	47,949