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Fair Value of Financial Instruments
 3 Months Ended
Mar. 28, 2012
Fair Value of Financial Instruments [Abstract]  
Fair Value of Financial Instruments
Note 7.     Fair Value of Financial Instruments
 
Fair Value of Assets and Liabilities Measured on a Recurring and Nonrecurring Basis
 
Financial assets and liabilities measured at fair value on a recurring basis are summarized below:
 
   
Fair Value Measurements as of March 28, 2012
   
Total
   
Quoted Prices in Active Markets for Identical Assets/Liabilities
(Level 1)
   
Significant Other Observable Inputs
(Level 2)
   
Significant Unobservable Inputs
(Level 3)
 
Valuation Technique
   
(In thousands)
   
Deferred compensation plan investments 
 
$
5,856
   
$
5,856
   
$
-
   
$
-
 
market approach
Total
 
$
5,856
   
$
5,856
   
$
-
   
$
 -
   
 
   
Fair Value Measurements as of March 30, 2011
   
Total
   
Quoted Prices in Active Markets for Identical Assets/Liabilities
(Level 1)
   
Significant Other Observable Inputs
(Level 2)
   
Significant Unobservable Inputs
(Level 3)
 
Valuation Technique
   
(In thousands)
   
Deferred compensation plan investments 
 
$
4,791
   
$
4,791
   
$
-
   
$
-
 
market approach
Total
 
$
4,791
   
$
4,791
   
$
-
   
$
 -
   
 
In addition to the financial assets and liabilities that are measured at fair value on a recurring basis, we measure certain assets and liabilities at fair value on a nonrecurring basis. As of March 28, 2012, impaired assets related to underperforming and closed units were written down to a fair value of $0 based on the income approach. As of March 30, 2011, there were no such nonrecurring measurements.
 
Fair Value of Long-Term Debt
 
The book value and estimated fair value of our long-term debt, before original issue discount and excluding capital lease obligations, was as follows:
 
   
March 28, 2012
   
December 28, 2011
 
   
(In thousands)
 
Book value:
         
Fixed rate long-term debt
 
$
77
   
$
99
 
Variable rate long-term debt
   
190,000
     
198,000
 
Long term debt excluding capital lease obligations
 
$
190,077
   
$
198,099
 
                 
Estimate fair value:
               
Fixed rate long-term debt
 
$
77
   
$
99
 
Variable rate long-term debt
   
190,832
     
197,505
 
Long term debt excluding capital lease obligations
 
$
190,909
   
$
197,604
 
 
The difference between the estimated fair value of long-term debt compared with its historical cost reported in our Condensed Consolidated Balance Sheets at March 28, 2012 and December 28, 2011 relates to market quotations for our senior secured term loan.