XML 116 R22.htm IDEA: XBRL DOCUMENT v2.4.0.8
FAIR VALUE MEASUREMENT (Tables)
 6 Months Ended
Jun. 28, 2013
Fair Value Disclosures [Abstract]  
Schedule of fair value hierarchy for cash equivalents and restricted investments
The following table presents the fair value and hierarchy for our cash equivalents, restricted investments and note payable (in millions):
 
June 28,
2013
 
December 28,
2012
Level 1:
 
 
 
Assets:
 
 
 
Cash equivalents (1)
$
110.6

 
$
94.6

Restricted cash equivalents (1)
27.0

 
26.8

Other restricted investments (2)
4.6

 
3.5

Level 2:
 
 
 
Assets:
 
 
 
Restricted investments classified as held-to-maturity (3)
86.0

 
92.7

Liabilities:
 
 
 
Term loan (4)
33.1

 
—

___________________
(1)
Cash equivalents and restricted cash equivalents consist of money market funds, deposits and investments with original maturities of three months or less.
(2)
Other restricted investments consist of deferred compensation investments which are comprised of mutual funds. We have an offsetting accrued liability related to the deferred compensation plan.
(3)
Restricted investments classified as held-to-maturity consist of highly rated investment grade securities, primarily in U.S. agency debentures, U.S. agency mortgage-backed securities, corporate securities and municipal securities.
(4)
In connection with our acquisition of MDT on February 4, 2013, we entered into an unsecured Term Loan Agreement with Synovus Bank. The Term Loan Agreement is variable rate interest and approximates fair value. See Note 8: Commitments and Contingencies for further discussion.