XML 37 R21.htm IDEA: XBRL DOCUMENT v3.20.1
RESTRICTED CASH AND INVESTMENTS (Tables)
 3 Months Ended
Mar. 29, 2020
Restricted Cash and Investments [Abstract]  
Schedule of restricted cash and investments
The following is a summary of the carrying value of our restricted cash and investments:
(in thousands)
March 29,
2020
December 29,
2019
Cash collateral held by insurance carriers
$
24,684

$
24,612

Cash and cash equivalents held in Trust
26,641

23,681

Investments held in Trust
142,761

149,373

Deferred compensation investments
11,546

13,670

Company owned life insurance policies
10,284

13,126

Other restricted cash and cash equivalents
2,991

6,470

Total restricted cash and investments
$
218,907

$
230,932
Schedule of held-to-maturity investments
The amortized cost and estimated fair value of our held-to-maturity investments held in Trust, aggregated by investment category as of March 29, 2020 and December 29, 2019, were as follows:
 
March 29, 2020
(in thousands)
Amortized cost
Gross unrealized gains
Gross unrealized losses
Fair value
Municipal debt securities
$
71,124

$
1,969

$
—

$
73,093

Corporate debt securities
69,539

908

(311
)
70,136

Agency mortgage-backed securities
1,116

39

—

1,155

U.S. government and agency securities
1,000

68

—

1,068

Total held-to-maturity investments
$
142,779

$
2,984

$
(311
)
$
145,452

 
December 29, 2019
(in thousands)
Amortized cost
Gross unrealized gains
Gross unrealized losses
Fair value
Municipal debt securities
$
72,017

$
2,219

$
—

$
74,236

Corporate debt securities
75,000

1,102

(34
)
76,068

Agency mortgage-backed securities
1,357

21

(2
)
1,376

U.S. government and agency securities
999

52

—

1,051

Total held-to-maturity investments
$
149,373

$
3,394

$
(36
)
$
152,731
Schedule of continuous unrealized loss position
The estimated fair value and gross unrealized losses of all investments classified as held-to-maturity, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of March 29, 2020 and December 29, 2019, were as follows:
 
March 29, 2020
 
Less than 12 months
 
12 months or more
 
Total
(in thousands)
Estimated fair value
Unrealized losses
 
Estimated fair value
Unrealized losses
 
Estimated fair value
Unrealized losses
Corporate debt securities
$
23,488

$
(311
)
 
$
—

$
—

 
$
23,488

$
(311
)
Total held-to-maturity investments
$
23,488

$
(311
)
 
$
—

$
—

 
$
23,488

$
(311
)
 
December 29, 2019
 
Less than 12 months
 
12 months or more
 
Total
(in thousands)
Estimated fair value
Unrealized losses
 
Estimated fair value
Unrealized losses
 
Estimated fair value
Unrealized losses
Corporate debt securities
$
15,920

$
(32
)
 
$
2,765

$
(2
)
 
$
18,685

$
(34
)
Agency mortgage-backed securities
—

—

 
276

(2
)
 
276

(2
)
Total held-to-maturity investments
$
15,920

$
(32
)

$
3,041

$
(4
)

$
18,961

$
(36
)
Schedule of held-to-maturity investments by contractual maturity
The amortized cost and fair value by contractual maturity of our held-to-maturity investments are as follows:
 
March 29, 2020
(in thousands)
Amortized cost
Fair value
Due in one year or less
$
26,080

$
26,145

Due after one year through five years
88,541

90,049

Due after five years through ten years
28,158

29,258

Total held-to-maturity investments
$
142,779

$
145,452