Fair Value (Tables)

6 Months Ended

Jul. 28, 2012

Company's assets and liabilities measured at fair value

		Assets and Liabilities at Fair Value as of July 28, 2012
		(in thousands)
			Level 1		Level 2		Level 3		Total
ASSETS:
	ARS - available-for-sale - student loan backed	$	-	$	-	$	4,787	$	4,787
	ARS - available-for-sale - municipal authority bonds		-		-		15,323		15,323
	Derivative financial instruments		-		12,177		-		12,177
Total assets measured at fair value		$	-	$	12,177	$	20,110	$	32,287
LIABILITIES:
	Derivative financial instruments		-		154		-		154
Total liabilities measured at fair value		$	-	$	154	$	-	$	154


		Assets and Liabilities at Fair Value as of January 28, 2012
		(in thousands)
			Level 1		Level 2		Level 3		Total
ASSETS:
	Money market funds	$	209,041	$	-	$	-	$	209,041
	ARS - available-for-sale - student loan backed		-		-		84,650		84,650
	ARS - available-for-sale - municipal authority bonds		-		-		14,858		14,858
	Derivative financial instruments		-		10,770		-		10,770
Total assets measured at fair value		$	209,041	$	10,770	$	99,508	$	319,319
LIABILITIES:
	Derivative financial instruments		-		1,458		-		1,458
Total liabilities measured at fair value		$	-	$	1,458	$	-	$	1,458

Fair value assets measured on recurring basis unobservable input reconciliation


Quantitative information about Level 3 fair value measurements (in thousands)
		Fair Value at July 28, 2012	Valuation Technique	Unobservable Inputs	Range (weighted average)

Student loan				Periodic coupon rate	0.50% - 3.27%
ARS	$	4,787	Discounted cash flow	Market rate of return	0.25% - 2.05%
				Expected term	19.3

Muncipal authority				Periodic coupon rate	0.32% - 4.33%
ARS	$	15,323	Discounted cash flow	Market rate of return	0.03% - 3.83%
				Expected term	21.8 - 27.3

(in thousands)		Available-for-sale ARS - Student Loans		Available-for-sale ARS - Muni Bonds		Total
Fair value, January 28, 2012	$	84,650	$	14,858	$	99,508
Redemptions / Settlements		(80,693)		-		(80,693)
Gains and (losses), net:
Reported in Net Income		830		465		1,295
Fair value, July 28, 2012	$	4,787	$	15,323	$	20,110

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income, and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issuances, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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