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Fair Value Measurements (Tables)
 3 Months Ended
Apr. 01, 2016
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on Recurring Basis
The fair value of these certain financial assets and liabilities was determined using the following inputs at April 1, 2016:
 
 
 
Fair Value Measurements at Reporting Date Using
 
 
 
 
 
Quoted Prices in
 
 
 
Significant
 
 
 
 
 
Active Markets for
 
Significant Other
 
Unobservable
 
 
 
 
 
Identical Assets
 
Observable Inputs
 
Inputs
 
(In thousands)
 
Total
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
 
 
 
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
Money market securities (1)
 
$
12,028
 
$
12,028
 
$
-
 
$
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed income available- for-sale securities (2)
 
 
56,512
 
 
-
 
 
56,512
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed income trading securities held in deferred compensation plan (3)
 
 
10,394
 
 
10,394
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity trading securities held in deferred compensation plan (3)
 
 
32,844
 
 
32,844
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
111,778
 
$
55,266
 
$
56,512
 
$
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Deferred compensation plan (4)
 
 
52,122
 
 
52,122
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
52,122
 
$
52,122
 
$
-
 
$
-
 
 
(1)
Included in cash and cash equivalents on the Company’s unaudited condensed consolidated balance sheet.
(2)
Included in short-term investments on the Company’s unaudited condensed consolidated balance sheet.
(3)
Included in prepaid expenses and other assets and deferred compensation plan assets on the Company’s unaudited condensed consolidated balance sheet.
(4)
Included in accrued payroll and employee benefits and deferred compensation on the Company’s unaudited condensed consolidated balance sheet.
 
The fair value of these certain financial assets and liabilities was determined using the following inputs at January 1, 2016:
 
 
 
Fair Value Measurements at Reporting Date Using
 
 
 
 
 
Quoted Prices in
 
 
 
Significant
 
 
 
 
 
Active Markets for
 
Significant Other
 
Unobservable
 
 
 
 
 
Identical Assets
 
Observable Inputs
 
Inputs
 
(In thousands)
 
Total
 
(Level 1)
 
(Level 2)
 
(Level 3)
 
 
 
 
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
 
 
 
 
 
 
Money market securities (1)
 
$
10,530
 
$
10,530
 
$
-
 
$
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed income available- for-sale securities (2)
 
 
45,842
 
 
-
 
 
45,842
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Fixed income trading securities held in deferred compensation plan (3)
 
 
9,295
 
 
9,295
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Equity trading securities held in deferred compensation plan (3)
 
 
33,645
 
 
33,645
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
99,312
 
$
53,470
 
$
45,842
 
$
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
 
 
 
 
 
 
Deferred compensation plan (4)
 
 
46,740
 
 
46,740
 
 
-
 
 
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total
 
$
46,740
 
$
46,740
 
$
-
 
$
-
 
 
(1)
Included in cash and cash equivalents on the Company’s unaudited condensed consolidated balance sheet.
(2)
Included in short-term investments on the Company’s unaudited condensed consolidated balance sheet.
(3)
Included in prepaid expenses and other assets and deferred compensation plan assets on the Company’s unaudited condensed consolidated balance sheet.
(4)
Included in accrued payroll and employee benefits and deferred compensation on the Company’s unaudited condensed consolidated balance sheet.
Cash, cash equivalents and short-term investments
Cash, cash equivalents and short-term investments consisted of the following as of April 1, 2016:
 
 
 
Amortized
 
Unrealized
 
Unrealized
 
Estimated
 
(In thousands)
 
Cost
 
Gains
 
Losses
 
Fair Value
 
 
 
 
 
 
 
 
 
 
 
Classified as current assets:
 
 
 
 
 
 
 
 
 
Cash
 
$
86,507
 
$
-
 
$
-
 
$
86,507
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash equivalents:
 
 
 
 
 
 
 
 
 
 
 
 
 
Money market securities
 
 
12,028
 
 
-
 
 
-
 
 
12,028
 
Total cash equivalents
 
 
12,028
 
 
-
 
 
-
 
 
12,028
 
Total cash and cash equivalents
 
 
98,535
 
 
-
 
 
-
 
 
98,535
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Short-term investments:
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. agency securities
 
 
53,964
 
 
33
 
 
(1)
 
 
53,996
 
State and municipal bonds
 
 
2,515
 
 
1
 
 
-
 
 
2,516
 
Total short-term investments
 
 
56,479
 
 
34
 
 
(1)
 
 
56,512
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total cash, cash equivalents and short-term investments
 
$
155,014
 
$
34
 
$
(1)
 
$
155,047
 
 
Cash, cash equivalents and short-term investments consisted of the following as of January 1, 2016:
 
 
 
Amortized
 
Unrealized
 
Unrealized
 
Estimated
 
(In thousands)
 
Cost
 
Gains
 
Losses
 
Fair Value
 
 
 
 
 
 
 
 
 
 
 
Classified as current assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash
 
$
115,221
 
$
-
 
$
-
 
$
115,221
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash equivalents:
 
 
 
 
 
 
 
 
 
 
 
 
 
Money market securities
 
 
10,530
 
 
-
 
 
-
 
 
10,530
 
Total cash equivalents
 
 
10,530
 
 
-
 
 
-
 
 
10,530
 
Total cash and cash equivalents
 
 
125,751
 
 
-
 
 
-
 
 
125,751
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Short-term investments:
 
 
 
 
 
 
 
 
 
 
 
 
 
U.S. Agency securities
 
 
41,946
 
 
1
 
 
(106)
 
 
41,841
 
State and municipal bonds
 
 
4,002
 
 
-
 
 
(1)
 
 
4,001
 
Total short-term investments
 
 
45,948
 
 
1
 
 
(107)
 
 
45,842
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total cash, cash equivalents and short-term investments
 
$
171,699
 
$
1
 
$
(107)
 
$
171,593
 
Summary of Cost and Estimated Fair Value of Short Term Fixed Income Securities
The following table summarizes the cost and estimated fair value of short-term fixed income securities classified as short-term investments based on stated effective maturities as of April 1, 2016:
 
 
 
Amortized
 
Estimated
 
(In thousands)
 
Cost
 
Fair Value
 
 
 
 
 
 
 
 
 
Due within one year
 
$
18,479
 
$
18,498
 
Due between one and two years
 
 
38,000
 
 
38,014
 
Total
 
$
56,479
 
$
56,512