XML 32 R19.htm IDEA: XBRL DOCUMENT v3.20.2
FAIR VALUE MEASUREMENT (Tables)
 6 Months Ended
Jun. 28, 2020
Fair Value Disclosures [Abstract]  
Fair Value Measurements, Recurring and Nonrecurring
Assets measured at fair value on a recurring basis
Our assets measured at fair value on a recurring basis consisted of the following:
 
June 28, 2020
(in thousands)
Total fair value
Quoted prices in active markets for identical assets (level 1)
Significant other observable inputs (level 2)
Significant unobservable inputs (level 3)
Cash and cash equivalents
$
92,051

$
92,051

$
—

$
—

Restricted cash and cash equivalents
49,789

49,789

—

—

Cash, cash equivalents and restricted cash (1)
$
141,840

$
141,840

$
—

$
—

 
 
 
 
 
Municipal debt securities
$
74,528

$
—

$
74,528

$
—

Corporate debt securities
73,462

—

73,462

—

Agency mortgage-backed securities
931

—

931

—

U.S. government and agency securities
1,134

—

1,134

—

Restricted investments classified as held-to-maturity
$
150,055

$
—

$
150,055

$
—

 
 
 
 
 
Deferred compensation investments (2)
$
11,981

$
11,981

$
—

$
—

 
December 29, 2019
(in thousands)
Total fair value
Quoted prices in active markets for identical assets (level 1)
Significant other observable inputs (level 2)
Significant unobservable inputs (level 3)
Cash and cash equivalents
$
37,608

$
37,608

$
—

$
—

Restricted cash and cash equivalents
54,763

54,763

—

—

Cash, cash equivalents and restricted cash (1)
$
92,371

$
92,371

$
—

$
—

 
 
 
 
 
Municipal debt securities
$
74,236

$
—

$
74,236

$
—

Corporate debt securities
76,068

—

76,068

—

Agency mortgage-backed securities
1,376

—

1,376

—

U.S. government and agency securities
1,051

—

1,051

—

Restricted investments classified as held-to-maturity
$
152,731

$
—

$
152,731

$
—

 
 
 
 
 
Deferred compensation investments (2)
$
13,670

$
13,670

$
—

$
—

(1)
Cash, cash equivalents and restricted cash consist of money market funds, deposits and investments with original maturities of three months or less.
(2)
Deferred compensation investments consist of mutual funds and money market funds.
We measure the fair value of certain non-financial assets on a nonrecurring basis, including goodwill and certain intangible assets. During the first quarter of 2020, we performed an interim impairment test as of the last day of our first fiscal quarter (March 29, 2020) due to market conditions. As a result of that test, we recognized an impairment charge of $175.2 million comprised as follows:
 
March 29, 2020
(in thousands)
Total fair value
Quoted prices in active markets for identical assets (level 1)
Significant other observable inputs (level 2)
Significant unobservable inputs (level 3)
Total impairment loss
Goodwill
$
31,705

$
—

$
—

$
31,705

$
(140,489
)
Client relationships
14,700

—

—

14,700

(34,700
)
Total
$
46,405

$
—

$
—

$
46,405

$
(175,189
)