Investments And Restricted Investments

6 Months Ended

Jul. 28, 2012

Investments And Restricted Investments [Abstract]

Investments And Restricted Investments

Note B: Investments and Restricted Investments

The amortized cost and fair value of the Company's available-for-sale securities as of July 28, 2012 were:

		Amortized		Unrealized		Unrealized
	($000)	cost		gains		losses			Fair value		Short-term		Long-term
	Investments
	Corporate securities	$	5,104	$	490	$	(45	)	$	5,549	$	1,424	$	4,125
	Mortgage-backed securities		425		22		-			447		32		415
	Total investments		5,529		512		(45	)		5,996		1,456		4,540
	Restricted Investments
	Corporate securities		1,358		67		-			1,425		255		1,170
	U.S. government and agency
	securities		3,759		468		-			4,227		-		4,227
	Total restricted investments		5,117		535		-			5,652		255		5,397
	Total	$	10,646	$	1,047	$	(45	)	$	11,648	$	1,711	$	9,937
The amortized cost and fair value of the Company's available-for-sale securities as of January 28, 2012 were:
		Amortized		Unrealized		Unrealized
	($000)	cost		gains		losses			Fair value		Short-term		Long-term
	Investments
	Corporate securities	$	5,080	$	501	$	(78	)	$	5,503	$	401	$	5,102
	Mortgage-backed securities		728		29		-			757		257		500
	Total investments		5,808		530		(78	)		6,260		658		5,602
	Restricted Investments
	Corporate securities		1,357		94		-			1,451		-		1,451
	U.S. government and agency
	securities		3,769		431		-			4,200		-		4,200
	Total restricted investments		5,126		525		-			5,651		-		5,651
	Total	$	10,934	$	1,055	$	(78	)	$	11,911	$	658	$	11,253

The amortized cost and fair value of the Company's available-for-sale securities as of July 30, 2011 were:

	Amortized		Unrealized		Unrealized
($000)	cost		gains		losses			Fair value		Short-term		Long-term
Investments
Corporate securities	$	5,818	$	532	$	(52	)	$	6,298	$	622	$	5,676
Mortgage-backed securities		858		46		-			904		337		567
Total investments		6,676		578		(52	)		7,202		959		6,243
Restricted Investments
Corporate securities		1,355		117		-			1,472		-		1,472
U.S. government and agency
securities		4,782		237		-			5,019		1,004		4,015
Total restricted investments		6,137		354		-			6,491		1,004		5,487
Total	$	12,813	$	932	$	(52	)	$	13,693	$	1,963	$	11,730

Accounting standards pertaining to fair value measurements establish a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions. This fair value hierarchy also requires the Company to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Corporate, U.S. government and agency, and mortgage-backed securities are classified within Level 1 or Level 2 because these securities are valued using quoted market prices or alternative pricing sources and models utilizing market observable inputs.

Investments and restricted investments measured at fair value at July 28, 2012 are summarized below:

			Fair Value Measurements at Reporting Date
			Quoted
			prices in
			active		Significant
			markets for		other		Significant
			identical		observable		unobservable
	July 28,		assets		inputs		inputs
($000)	2012		(Level 1)		(Level 2)		(Level 3)
Investments
Corporate securities	$	5,549	$	-	$	5,549	$	-
Mortgage-backed securities		447		-		447		-
Total investments		5,996		-		5,996		-
Restricted Investments
Corporate securities		1,425		-		1,425		-
U.S. government and agency securities		4,227		4,227		-		-
Total restricted investments		5,652		4,227		1,425		-
Total	$	11,648	$	4,227	$	7,421	$	-

Investments and restricted investments measured at fair value at January 28, 2012 are summarized below:

				Fair Value Measurements at Reporting Date
				Quoted
				prices in
				active		Significant
				markets for		other		Significant
				identical		observable		unobservable
		January 28,		assets		inputs		inputs
	($000)	2012		(Level 1)		(Level 2)		(Level 3)
	Investments
	Corporate securities	$	5,503	$	-	$	5,503	$	-
	Mortgage-backed securities		757		-		757		-
	Total investments		6,260		-		6,260		-
	Restricted Investments
	Corporate securities		1,451		-		1,451		-
	U.S. government and agency securities		4,200		4,200		-		-
	Total restricted investments		5,651		4,200		1,451		-
	Total	$	11,911	$	4,200	$	7,711	$	-
Investments and restricted investments measured at fair value at July 30, 2011 are summarized below:
				Fair Value Measurements at Reporting Date
				Quoted
				prices in
				active		Significant
				markets for		other		Significant
				identical		observable		unobservable
		July 30,		assets		inputs		inputs
	($000)	2011		(Level 1)		(Level 2)		(Level 3)
	Investments
	Corporate securities	$	6,298	$	-	$	6,298	$	-
	Mortgage-backed securities		904		-		904		-
	Total investments		7,202		-		7,202		-
	Restricted Investments
	Corporate securities		1,472		-		1,472		-
	U.S. government and agency securities		5,019		5,019		-		-
	Total restricted investments		6,491		5,019		1,472		-
	Total	$	13,693	$	5,019	$	8,674	$	-

The future maturities of investment and restricted investment securities at July 28, 2012 were:

	Investments				Restricted Investments
			Estimated				Estimated
($000)	Cost basis		fair value		Cost basis		fair value
Maturing in one year or less	$	1,416	$	1,456	$	249	$	255
Maturing after one year through five years		3,013		3,188		1,253		1,318
Maturing after five years through ten years		1,100		1,352		3,615		4,079
	$	5,529	$	5,996	$	5,117	$	5,652

The underlying assets in the Company's non-qualified deferred compensation program totaling $74.2 million and $69.0 million as of July 28, 2012 and July 30, 2011, respectively (included in other long-term assets and in other long-term liabilities) primarily consist of participant-directed money market, stable value, stock, and bond funds. The fair value measurement for funds with quoted market prices in active markets (Level 1) totaled $63.5 million and $59.3 million as of July 28, 2012 and July 30, 2011, respectively. The fair value measurement for funds without quoted market prices in active markets (Level 2) totaled $10.7 million and $9.7 million as of July 28, 2012 and July 30, 2011, respectively. Fair market value for these Level 2 funds is considered to be the sum of participant funds invested under a group annuity contract plus accrued interest.