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FAIR VALUE MEASUREMENT
 3 Months Ended
Mar. 30, 2012
FAIR VALUE MEASUREMENT
NOTE 2:
FAIR VALUE MEASUREMENT

Fair value is the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. We apply a fair value hierarchy which prioritizes the inputs used to measure fair value:

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Level 1: Investments valued using quoted market prices in active markets for identical assets or liabilities.
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Level 2: Investments valued using other observable market-based inputs or unobservable inputs that are corroborated by market data.
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Level 3: Investments with no observable inputs and therefore, are valued using significant management judgment.

The carrying value of our cash and cash equivalents, restricted cash and accounts receivable approximates fair value due to their short term nature. Cash equivalents consist of money market funds and investments with original maturities of three months or less and are classified within Level 1 of the fair value hierarchy. Our cash equivalents included money market funds totaling $69.3 million and $55.5 million as of March 30, 2012 and December 30, 2011, respectively. We held no Level 2 or Level 3 investments as of March 30, 2012 or December 30, 2011.