Fair Value Measurements (Tables)

9 Months Ended

Oct. 27, 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 third quarter of fiscal 2012 consisted of the following (in thousands):

	Balance at October 27, 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)	$	44,851	$	44,851	$	-	$	-
Municipal bonds (short-term)		10,080		-		10,080		-
Auction rate security (long-term)		1,730		-		-		1,730
Total assets	$	56,661	$	44,851	$	10,080	$	1,730
Liabilities:
Deferred compensation plan (long-term)	$	4,933	$	-	$	4,933	$	-

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

The activity of our auction rate security through the third 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 income 1		8
Carrying value as of  October 27, 2012	$	1,730

1 Unrealized gains of $5,000 and $6,000 occurred during the first and third quarters of fiscal 2012, respectively, and unrealized losses of $3,000 occurred during the second quarter of fiscal 2012.