Fair Value Measurements (Tables)

6 Months Ended

Jul. 28, 2012

Fair Value Hierarchy for Financial Assets (Cash Equivalents and Investments) Measured at Fair Value on a Recurring Basis

In accordance with ASC 820, the following table represents the Company’s fair value hierarchy for its financial assets (cash equivalents and investments) measured at fair value on a recurring basis as of July 28, 2012 and July 30, 2011:

	Fair Value Measurements at July 28, 2012
(In thousands)	Carrying Amount		Quoted Market Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable  Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash and cash equivalents:
Cash	$	623,277	$	623,277	$	—	$	—
Money-market		44,789		44,789		—		—
Treasury bills		23,011		23,011		—		—
Commercial paper		5,000		5,000		—		—
Total cash and cash equivalents	$	696,077	$	696,077	$	—	$	—
Short-term investments:
Treasury bills	$	5,995	$	5,995	$	—	$	—
Total short-term investments	$	5,995	$	5,995	$	—	$	—
Long-term investments:
ARS Call Option	$	254	$	—	$	—	$	254
Total long-term investments	$	254	$	—	$	—	$	254
Total	$	702,326	$	702,072	$	—	$	254

	Fair Value Measurements at July 30, 2011
(In thousands)	Carrying Amount		Quoted Market Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash and cash equivalents:
Cash	$	287,753	$	287,753	$	—	$	—
Money-market		74,387		74,387		—		—
Commercial paper		23,996		23,996		—		—
Treasury bills		3,163		3,163		—		—
Total cash and cash equivalents	$	389,299	$	389,299	$	—	$	—
Short-term investments:
Treasury bills	$	76,262	$	76,262	$	—	$	—
Corporate bonds		16,111		16,111		—		—
Term-deposits		15,427		15,427		—		—
Commercial paper		9,997		9,997		—		—
State and local government ARS		6,900		—		—		6,900
Total short-term investments	$	124,697	$	117,797	$	—	$	6,900
Long-term investments:
ARS Call Option	$	648	$	—	$	—	$	648
Total long-term investments	$	648	$	—	$	—	$	648
Total	$	514,644	$	507,096	$	—	$	7,548

Reconciliation of Assets Measured at Fair Value On Recurring Basis Using Unobservable Inputs (Level 3)

The reconciliation of the Company’s assets measured at fair value on a recurring basis using unobservable inputs (Level 3) for the 26 weeks ended July 28, 2012 and July 30, 2011 is as follows.

	Level 3 (Unobservable inputs)
(In thousands)	Total			Auction-Rate Municipal Securities			ARS Call Option
Carrying value at January 28, 2012	$	6,347		$	5,500		$	847
Settlements		(5,789	)		(5,500	)		(289	)
Losses:
Reported in earnings		(304	)		—			(304	)
Balance at July 28, 2012	$	254		$	—		$	254

(In thousands)	Total			Auction-Rate Municipal Securities			ARS Call Option
Carrying value at January 29, 2011	$	9,615		$	9,200		$	415
Settlements		(2,300	)		(2,300	)		—
Gains:
Reported in earnings		233			—			233
Balance at July 30, 2011	$	7,548		$	6,900		$	648