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Note 2 – Investments
As of September 29, 2012, the Company held the following investments, recorded at fair value (in thousands):
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Unrealized |
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Amortized
Cost |
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Gains |
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Losses |
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Fair Value |
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Mutual funds
(1)
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$ |
97 |
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$ |
2 |
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$ |
— |
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$ |
99 |
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As of December 31, 2011, the Company held the following securities and investments, recorded at fair
value (in thousands):
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Unrealized |
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|
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Amortized
Cost |
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Gains |
|
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Losses |
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Fair Value |
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Mutual funds
(1)
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$ |
1,011 |
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$ |
114 |
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$ |
— |
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$ |
1,125 |
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Auction rate preferred securities in municipal and state agencies
(2)
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|
2,125 |
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— |
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(21 |
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2,104 |
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Total
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$ |
3,136 |
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$ |
114 |
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$ |
(21 |
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$ |
3,229 |
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(1)
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Mutual funds are classified as short-term investments available-for-sale and recorded at fair market value, based on quoted prices of identical assets
that are trading in active markets as of the end of the period for which the values are determined.
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(2)
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Auction rate
preferred securities in municipal and state agencies with maturities of 15 to 30 years were classified as investments available-for-sale and recorded at fair value. During the first half of 2012, the remaining securities balance at December 31,
2011 was fully redeemed. As of December 31, 2011, these securities were held in two tax-exempt municipal bonds managed under closed-end funds and were classified as long-term investments. Refer to additional information in Note 3 under the
caption “Financial Assets Valued on a Recurring Basis”.
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Proceeds from the sale of available-for-sale securities and investments are disclosed separately in the accompanying
consolidated statements of cash flow. For the thirty-nine weeks ended September 29, 2012, the Company recognized a realized loss of $4,000 from the sale of mutual funds. For the thirty-nine weeks ended October 1, 2011, there were no
recognized realized gains or losses from the sale of available-for-sale securities and investments.
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