NOTE 3: RESTRICTED CASH AND INVESTMENTS

Restricted cash and investments consist primarily of collateral that has been provided or pledged to insurance carriers and state workers' compensation programs. Our insurance carriers and certain state workers' compensation programs require us to collateralize a portion of our workers' compensation obligation. The collateral typically takes the form of cash and cash equivalents, highly rated investment grade debt securities, and cash-backed instruments.

Prior to March 11, 2011, Chartis held the majority of the restricted cash collateralizing our self-insured workers' compensation policies. As of March 11, 2011, we entered into an agreement between Chartis and the Bank of New York Mellon creating a trust at the Bank of New York Mellon which holds the majority of our collateral obligations. During the first quarter of 2011, we transferred $89.1 million to the Trust. The investments are broadly diversified among high quality investments in U.S. Treasury Securities, U.S. Agency Debentures, U.S. Agency Mortgages, Corporate Securities, and Municipal Securities.

The following is a summary of restricted cash and investments (in millions):



	December 30, 2011		December 31, 2010
Cash collateral held by insurance carriers	$	21.3	$	108.7
Cash and cash equivalents held in Trust (1)	19.2		—
Investments held in Trust	78.0		—
Cash collateral backing letters of credit	5.9		4.1
Cash collateral backing surety bonds	—		3.0
Other (2)	6.1		4.3
Total Restricted cash and investments	$	130.5	$	120.1

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(1)	Included in this amount is $0.8 million of accrued interest at December 30, 2011.


(2)	Primarily consists of restricted cash in money market accounts and deferred compensation.

The following is a summary of held-to-maturity investments (in millions):



	December 30, 2011
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss			Fair Value
Municipal securities	$	42.8	$	0.8	$	(0.1	)	$	43.5
Corporate bonds	16.1		0.2		—			16.3
Asset backed bonds	13.6		0.1		—			13.7
State government and agency securities	4.5		—		—			4.5
United States Treasury securities	1.0		—		—			1.0
	$	78.0	$	1.1	$	(0.1	)	$	79.0

The amortized cost and fair value by maturity of investments are as follows (in millions):



	December 30, 2011
	Amortized Cost		Fair Value
Due in one year or less	$	14.1	$	14.1
Due after one year through five years	39.7		40.1
Due after five years through ten years	24.2		24.8
	$	78.0	$	79.0