Fair Value Measurements (Tables)

12 Months Ended

Feb. 02, 2013

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 fiscal 2012 consisted of the following (in thousands):

	Balance at February 2, 2013		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)	$	44,781	$	44,781	$	-	$	-
Municipal bonds (short-term)		6,158		-		6,158		-
Auction rate security (long-term)		1,730		-		-		1,730
Total assets	$	52,669	$	44,781	$	6,158	$	1,730
Liabilities:
Deferred compensation plan (long-term)	$	5,488	$	-	$	5,488	$	-

Financial assets and liabilities measured at fair value on a recurring basis as of the end of fiscal 2011 consisted of the following (in thousands):

	Balance at January 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)	$	52,553	$	52,553	$	-	$	-
Municipal bonds * (short-term)		16,503		-		16,503		-
Auction rate security (long-term)		1,722		-		-		1,722
Total assets	$	70,778	$	52,553	$	16,503	$	1,722
Liabilities:
Deferred compensation plan * (long-term)	$	4,410	$	-	$	4,410	$	-
*In the third quarter of fiscal 2011, municipal bonds and deferred compensation plan amounts were reclassified to Level 2 upon further interpretation.

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

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

	Fiscal Year
	2012			2011
Carrying value at beginning of year	$	1,722		$	2,475
Redemptions		-			(850	)
Total gains
Included in earnings		-			-
Included in other comprehensive income		8	*		97
Carrying value at end of year	$	1,730		$	1,722

* 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.