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RESTRICTED CASH AND INVESTMENTS
 6 Months Ended
Jun. 27, 2021
Restricted Cash and Investments [Abstract]  
RESTRICTED CASH AND INVESTMENTS RESTRICTED CASH AND INVESTMENTS
The following is a summary of the carrying value of our restricted cash and investments:
(in thousands)June 27,
2021		December 27,
2020
Cash collateral held by insurance carriers$26,922 $26,025 
Cash and cash equivalents held in Trust 26,344 29,410 
Investments held in Trust135,894 152,247 
Deferred compensation investments6,303 5,915 
Company-owned life insurance policies28,016 26,267 
Other restricted cash and cash equivalents1,170 670 
Total restricted cash and investments$224,649 $240,534 
Held-to-maturity
Restricted cash and investments include collateral that has been provided or pledged to insurance carriers for workers’ compensation 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 and highly rated investment grade securities, primarily in debt and asset-backed securities. The majority of our collateral obligations are held in a trust at the Bank of New York Mellon (“Trust”).
The amortized cost and estimated fair value of our held-to-maturity investments held in Trust, aggregated by investment category as of June 27, 2021 and December 27, 2020, were as follows:
June 27, 2021
(in thousands)Amortized costGross unrealized gainsGross unrealized lossesFair value
Municipal debt securities$61,240 $2,686 $— $63,926 
Corporate debt securities73,396 1,809 (191)75,014 
Agency mortgage-backed securities258 9 — 267 
U.S. government and agency securities1,000 95 — 1,095 
Total held-to-maturity investments$135,894 $4,599 $(191)$140,302 
December 27, 2020
(in thousands)Amortized costGross unrealized gainsGross unrealized lossesFair value
Municipal debt securities$67,287 $3,436 $— $70,723 
Corporate debt securities83,467 2,511 (41)85,937 
Agency mortgage-backed securities493 19 — 512 
U.S. government and agency securities1,000 124 — 1,124 
Total held-to-maturity investments$152,247 $6,090 $(41)$158,296 
The amortized cost and fair value by contractual maturity of our held-to-maturity investments are as follows:
June 27, 2021
(in thousands)Amortized costFair value
Due in one year or less$21,607 $21,826 
Due after one year through five years105,331 108,987 
Due after five years through ten years8,956 9,489 
Total held-to-maturity investments$135,894 $140,302 
Actual maturities may differ from contractual maturities because the issuers of certain debt securities have the right to call or prepay their obligations without penalty. We have no significant concentrations of counterparties in our held-to-maturity investment portfolio.
Deferred compensation investments and company-owned life insurance policies
We hold mutual funds, money market funds and company-owned life insurance policies to support our deferred compensation liability. Unrealized gains and losses related to these investments still held at June 27, 2021 and June 28, 2020, included in selling, general and administrative expense on our Consolidated Statements of Operations and Comprehensive Income (Loss), were as follows:
Thirteen weeks ended
Twenty-six weeks ended
(in thousands)June 27,
2021		June 28,
2020		June 27,
2021		June 28,
2020
Unrealized gains (losses)$1,549 $3,114 $2,426 $(1,727)