CarParts.com, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

Fair Value Measurements (Tables)

9 Months Ended

Sep. 29, 2012

Financial assets valued on recurring basis


	As of September 29, 2012
	Total		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents ⁽¹⁾	$	1,076	$	1,076	$	—	$	—
Investments – mutual funds ⁽²⁾		99		99		—		—

Total	$	1,175	$	1,175	$	—	$	—


	As of December 31, 2011
	Total		Level 1		Level 2		Level 3
Assets:
Cash and cash equivalents ⁽¹⁾	$	10,335	$	10,335	$	—	$	—
Investments – mutual funds ⁽²⁾		1,125		1,125		—		—
Investments – ARPS ⁽³⁾		2,104		—		—		2,104

Total	$	13,564	$	11,460	$	—	$	2,104

⁽¹⁾	Cash equivalents consist primarily of money market funds and short-term investments with original maturity dates of three months or less at the date of purchase, for which the Company determines fair value through quoted market prices.

⁽²⁾	Investments consist of mutual funds, 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.

⁽³⁾

As of December 31, 2011, the Company had invested in ARPS, which were classified as long-term available-for-sale securities and reflected at $2.1 million (fair value), which included an unrealized loss of $21,000. The Company has included its investments related to ARPS in the Level 3 category. During the second quarter of 2012, the remaining ARPS balance at December 31, 2011 was fully redeemed at par.

Summary of ARPS measured at fair value on recurring basis


	Level 3 Investments
Balance as of December 31, 2011	$	2,104
Redemption at par value		(2,125	)
Unrealized gains included in other comprehensive income		21

Balance as of September 29, 2012	$	—


	Level 3 Investments
Balance as of January 1, 2011	$	4,141
Redemption at par value		(2,100	)
Unrealized gains included in other comprehensive income		63

Balance as of October 1, 2011	$	2,104

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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