Fair Value Measurements (Tables)

3 Months Ended

May 04, 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 the first quarter of fiscal 2013 consisted of the following (in thousands):

	Balance at May 4, 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)	$	44,374	$	44,374	$	-	$	-
Municipal bonds (short-term)		4,125		-		4,125		-
Auction rate security (long-term)		1,684		-		-		1,684
Total assets	$	50,183	$	44,374	$	4,125	$	1,684
Liabilities:
Deferred compensation plan (long-term)	$	6,089	$	-	$	6,089	$	-

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

The activity of our auction rate security through the first quarter of fiscal 2013, whose fair value was measured using Level 3 inputs, is summarized below (in thousands):

	Non-current
Carrying value as of  February 2, 2013	$	1,730
Redemptions1		(50	)
Total gains
Included in earnings		-
Included in other comprehensive income 2		4
Carrying value as of  May 4, 2013	$	1,684

1 Redemptions of $50,000 occurred during the first quarter of fiscal 2013.

2 Unrealized losses of $6,000 and a recovery in fair value of $10,000 occurred during the first quarter of fiscal 2013.