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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

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 March 31, 2023 (in thousands):


		Fair Value Measurements at Reporting Date Using
		Total				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Assets
Money market securities (1)		$	52,680			$	52,680			$	-			$	-
Fixed income trading securities held in deferred compensation plan (2)			40,044				40,044				-				-
Equity trading securities held in deferred compensation plan (2)			72,287				72,287				-				-
Total		$	165,011			$	165,011			$	-			$	-
Liabilities
Deferred compensation plan (3)			113,270				113,270				-				-
Total		$	113,270			$	113,270			$	-			$	-

(1) Included in cash and cash equivalents on the Company’s unaudited condensed consolidated balance sheet.

(2) Included in prepaid expenses and other current assets and deferred compensation plan assets on the Company’s unaudited condensed consolidated balance sheet.

(3) Included in accrued payroll and employee benefits and deferred compensation plan liabilities 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 December 30, 2022 (in thousands):


		Fair Value Measurements at Reporting Date Using
		Total				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Assets
Money market securities (1)		$	52,159			$	52,159			$	-			$	-
Fixed income trading securities held in deferred compensation plan (2)			32,851				32,851				-				-
Equity trading securities held in deferred compensation plan (2)			67,880				67,880				-				-
Total		$	152,890			$	152,890			$	-			$	-
Liabilities
Deferred compensation plan (3)			101,354				101,354				-				-
Total		$	101,354			$	101,354			$	-			$	-

(1) Included in cash and cash equivalents on the Company’s unaudited condensed consolidated balance sheet.

(2) Included in prepaid expenses and other current assets and deferred compensation plan assets on the Company’s unaudited condensed consolidated balance sheet.

(3) Included in accrued payroll and employee benefits and deferred compensation plan liabilities on the Company’s unaudited condensed consolidated balance sheet.

Cash and Cash Equivalents

Cash and cash equivalents consisted of the following as of March 31, 2023 (in thousands):


						Gross				Gross
		Amortized				Unrealized				Unrealized				Estimated
		Cost				Gains				Losses				Fair Value
Classified as current assets:
Cash		$	72,969			$	-			$	-			$	72,969
Cash equivalents:
Money market securities			52,680				-				-				52,680
Total cash equivalents			52,680				-				-				52,680
Total cash and cash equivalents		$	125,649			$	-			$	-			$	125,649

Cash and cash equivalents consisted of the following as of December 30, 2022 (in thousands):


		Amortized				Unrealized				Unrealized				Estimated
		Cost				Gains				Losses				Fair Value
Classified as current assets:
Cash		$	109,299			$	-			$	-			$	109,299
Cash equivalents:
Money market securities			52,159				-				-				52,159
Total cash equivalents			52,159				-				-				52,159
Total cash and cash equivalents		$	161,458			$	-			$	-			$	161,458