Fair Value Measurements (Tables)

6 Months Ended

Jul. 28, 2012

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

Financial assets and liabilities measured at fair value on a recurring basis as of the end of the second quarter of fiscal 2012 consisted of the following (in thousands):

	Balance at July 28, 2012		Quoted Prices in Active Markets for Identical Items (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds (cash equivalent)	$	50,120	$	50,120	$	-	$	-
Municipal bonds (short-term)		12,069		-		12,069		-
Auction rate securities (long-term)		1,724		-		-		1,724
Total assets	$	63,913	$	50,120	$	12,069	$	1,724
Liabilities:
Deferred compensation plan (long-term)	$	4,596	$	-	$	4,596	$	-

Activity of Auction Rate Securities, Fair Value Measured using Level 3 Inputs

The activity of our auction rate securities through the second quarter of fiscal 2012, whose fair value was measured using Level 3 inputs, is summarized below (in thousands):

	Non-current
Carrying value as of  January 28, 2012	$	1,722
Total gains
Included in earnings		-
Included in other comprehensive (loss) income1		2
Carrying value as of  July 28, 2012	$	1,724

1 Unrealized gains of $5,000 and unrealized losses $3,000 occurred during the first and second quarters of fiscal 2012, respectively.