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Fair Value of Financial Instruments
 6 Months Ended
Jun. 27, 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 June 27, 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 
$
5,858

 
$
5,858

 
$
-

 
$
-

 
market approach
Interest rate caps
$
28

 
$
-

 
$
28

 
$
-

 
income approach
Total
$
5,886

 
$
5,858

 
$
28

 
$
-

 
 
 
 
Fair Value Measurements as of December 28, 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 
$
4,935

 
$
4,935

 
$
-

 
$
-

 
market approach
Total
$
4,935

 
$
4,935

 
$
-

 
$
-

 
 
 
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 June 27, 2012, impaired assets related to underperforming units were written down to a fair value of $0 based on the income approach. As of June 29, 2011, there were no such nonrecurring measurements.

Disclosures of Fair Value of Other Assets and Liabilities
 
The liabilities under our credit facility and capital leases are carried at historical cost in our Condensed Consolidated Balance Sheets. The estimated fair values of our senior secured term loan and capital lease obligations approximated their carrying values as of June 27, 2012.