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Fair Value Measurement
12 Months Ended
Aug. 28, 2011
Fair Value Measurement 
Fair Value Measurement

Note 3—Fair Value Measurement

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The tables below present information at the end 2011 and 2010, regarding the Company's financial assets and financial liabilities that are measured at fair value on a recurring basis, and indicate the level within the fair value hierarchy of the valuation techniques utilized to determine such fair value. As of these dates, the Company's holdings of Level 3 financial assets and liabilities were immaterial.

 

2011:

    Level 1      Level 2  

Money market mutual funds(1)

   $ 200       $ 0   

Investment in U.S. government and agency securities(3)

     0         1,177   

Investment in corporate notes and bonds

      0         7   

Investment in FDIC-insured corporate bonds

      0         209   

Investment in asset and mortgage-backed securities

      0         12   

Forward foreign-exchange contracts, in asset position(2)

     0         1   

Forward foreign-exchange contracts, in (liability) position(2)

     0         (2 ) 
  

 

 

     

 

 

  

Total

    $ 200       $ 1,404   
  

 

 

     

 

 

  

 

2010:

    Level 1      Level 2  

Money market mutual funds(1)

   $ 1,514       $ 0   

Investment in U.S. government and agency securities

      0         1,229   

Investment in corporate notes and bonds

      0         11   

Investment in FDIC-insured corporate bonds

      0         139   

Investment in asset and mortgage-backed securities

      0         23   

Forward foreign-exchange contracts, in asset position(2)

     0         1   

Forward foreign-exchange contracts, in (liability) position(2)

     0         (3 ) 
  

 

 

     

 

 

  

Total

    $ 1,514       $ 1,400   
  

 

 

     

 

 

  

(1)

Included in cash and cash equivalents in the accompanying consolidated balance sheets.

 

(2)

The asset and the liability values are included in deferred income taxes and other current assets and other current liabilities, respectively, in the accompanying consolidated balance sheets. See Note 1 for additional information on derivative instruments.

 

(3)

$73 and $1,104 included in cash and cash equivalents and short-term investments, respectively, in the accompanying consolidated balance sheets.

Changes in fair value, including net transfers, of all financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during 2011 and 2010 were immaterial.

The Company reports transfers in and out of Levels 1, 2, and 3, as applicable, using the fair value of the individual securities as of the beginning of the reporting period in which the transfer occurred. There were no transfers in or out of Level 1, 2, or 3 during 2011 and 2010.

Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis

Financial assets measured at fair value on a nonrecurring basis include held-to-maturity investments that are carried at amortized cost and are not remeasured to fair value on a recurring basis. There were no fair value adjustments to these financial assets measured during the 2011 and 2010.

Nonfinancial assets measured at fair value on a nonrecurring basis include items such as long lived assets that are measured at fair value resulting from an impairment, if deemed necessary. Fair value adjustments to these nonfinancial assets and liabilities during 2011 and 2010 were immaterial.