Cash, Cash Equivalents and Investments (Tables)

9 Months Ended

Sep. 27, 2014

Cash, Cash Equivalents and Investments

Schedule of cash, cash equivalents, and investments

The Company’s cash, cash equivalents and investments consist of the following (in thousands):

	September 27, 2014
	Cost		Gross Unrealized Losses			Gross Unrealized Gains		Fair Value
Cash and Cash Equivalents:
Cash on hand	$	63,284	$	—		$	—	$	63,284
Available-for-sale securities:
Money market funds	28,036		—			—		28,036
Commercial paper	14,147		—			—		14,147
Certificates of deposit	5,331		—			—		5,331
Municipal bonds	907		—			—		907
Total available-for-sale securities	48,421		—			—		48,421

Total cash and cash equivalents	$	111,705	$	—		$	—	$	111,705

Short-term Investments:
Available-for-sale securities:
Municipal bonds	$	143,212	$	(3	)	$	240	$	143,449
Corporate bonds	36,000		(33		)	47		36,014
Variable-rate demand notes	15,755		—			—		15,755
Commercial paper	11,439		—			—		11,439
Asset-backed securities	5,689		(3		)	1		5,687
International government bonds	2,533		(5		)	—		2,528
Certificates of deposit	850		—			—		850
U.S. government bonds	650		—			—		650
U.S. government agency	601		—			—		601
Total short-term investments	$	216,729	$	(44	)	$	288	$	216,973

Long-term Investments:
Available-for-sale securities:
Auction rate securities	$	12,425	$	(920	)	$	—	$	11,505
Total long-term investments	$	12,425	$	(920	)	$	—	$	11,505

	December 28, 2013
	Cost		Gross Unrealized Losses			Gross Unrealized Gains		Fair Value
Cash and Cash Equivalents:
Cash on hand	$	45,544	$	—		$	—	$	45,544
Available-for-sale securities:
Money market funds	39,538		—			—		39,538
Certificates of deposit	7,768		—			—		7,768
Commercial paper	2,499		—			—		2,499
Municipal bonds	451		—			—		451
Total available-for-sale securities	50,256		—			—		50,256

Total cash and cash equivalents	$	95,800	$	—		$	—	$	95,800

Short-term Investments:
Available-for-sale securities:
Municipal bonds	$	119,289	$	(11	)	$	182	$	119,460
Variable-rate demand notes	38,025		—			—		38,025
Corporate bonds	17,788		(4		)	60		17,844
Commercial paper	3,748		—			—		3,748
Asset-backed securities	515		—			1		516
Total short-term investments	$	179,365	$	(15	)	$	243	$	179,593

Long-term Investments:
Available-for-sale securities:
Auction rate securities	$	12,425	$	(1,793	)	$	—	$	10,632
Total long-term investments	$	12,425	$	(1,793	)	$	—	$	10,632

Schedule of available-for-sale investments in continuous unrealized loss position by length of time

The available-for-sale investments that were in a continuous unrealized loss position, aggregated by length of time that individual securities have been in a continuous loss position, were as follows (in thousands):

	Less Than 12 Months					12 Months or Greater					Total
As of September 27, 2014	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Corporate bonds	$	16,564	$	(33	)	$	—	$	—		$	16,564	$	(33	)
Auction rate securities	—		—			11,505		(920		)	11,505		(920		)
Municipal bonds	7,893		(3		)	—		—			7,893		(3		)
Asset-backed securities	5,102		(3		)	—		—			5,102		(3		)
International government bond	2,527		(5		)	—		—			2,527		(5		)
	$	32,086	$	(44	)	$	11,505	$	(920	)	$	43,591	$	(964	)

	Less Than 12 Months					12 Months or Greater					Total
As of December 28, 2013	Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses			Fair Value		Gross Unrealized Losses
Municipal bonds	$	11,079	$	(11	)	$	—	$	—		$	11,079	$	(11	)
Auction rate securities	—		—			10,632		(1,793		)	10,632		(1,793		)
Corporate bonds	2,605		(4		)	—		—			2,605		(4		)
	$	13,684	$	(15	)	$	10,632	$	(1,793	)	$	24,316	$	(1,808	)

Summarization of contractual underlying maturities of available-for-sale investments

The following summarizes the contractual underlying maturities of the Company’s available-for-sale investments at September 27, 2014 (in thousands):

	Cost		Fair Value
Due in one year or less	$	155,375	$	155,485
Due after one year through ten years	97,195		97,329
Due after ten years	25,005		24,085
	$	277,575	$	276,899