XML 49 R9.htm IDEA: XBRL DOCUMENT v2.4.1.9
Note 4 - Fair Value of Financial Instruments
12 Months Ended
Dec. 28, 2014
Fair Value Disclosures [Abstract]  
Fair Value Disclosures [Text Block]

FAIR VALUE OF FINANCIAL INSTRUMENTS


The Company does not have significant assets and liabilities measured at fair value on a recurring basis under applicable accounting standards as of the end of 2014. The Company does have approximately $24.1 million of Company-owned life insurance which is measured on readily determinable cash surrender value on a recurring basis. Due to the short maturity of cash and cash equivalents, accounts receivable, accounts payable and accrued expenses, their carrying values approximate fair value. The fair value of long term debt represented by the Company’s 7.625% Senior Notes, based on quoted market prices, was $265.8 million at December 29, 2013. The Company redeemed the outstanding 7.625% Senior Notes in the fourth quarter of 2014. As of December 28, 2014, the carrying value of the Company's borrowings under its Syndicated Credit Facility approximates fair value as the Facility bears interest rates that are similar to existing market rates.