Abercrombie & Fitch 2010 Annual Report Download - page 76

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Table of Contents
ABERCROMBIE & FITCH CO.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Cash and equivalents include amounts on deposit with financial institutions, United States treasury bills, and other investments,
primarily held in money market accounts, with original maturities of less than 3 months.
Any cash that is legally restricted from use is recorded in Other Assets in the Consolidated Balance Sheet. Restricted cash of
$10.2 million was reclassified from Cash and Equivalents to Other Assets for Fiscal 2009.
5. INVESTMENTS
Investments consisted of (in thousands):
January 29, 2011 January 30, 2010
Marketable securities — Current:
Trading securities:
Auction rate securities — UBS — student loan backed $ — $ 20,049
Auction rate securities — UBS — municipal authority bonds — 12,307
Total trading securities — 32,356
Marketable securities — Non-Current:
Available-for-sale securities:
Auction rate securities — student loan backed 85,732 118,390
Auction rate securities — municipal authority bonds 14,802 23,404
Total available-for-sale securities 100,534 141,794
Rabbi Trust assets:(1)
Money market funds 343 1,317
Municipal notes and bonds 11,870 18,537
Trust-owned life insurance policies (at cash surrender value) 70,288 51,391
Total Rabbi Trust assets 82,501 71,245
Total investments $ 183,035 $ 245,395
(1) Rabbi Trust assets are included in Other Assets on the Consolidated Balance Sheets and are restricted as to their use.
At January 29, 2011 and January 30, 2010, the Company's investment grade auction rate securities ("ARS") consisted of insured
student loan backed securities and municipal authority bonds, with maturities ranging from 17 to 32 years. Each investment in student
loans is insured by (1) the U.S. government under the Federal Family Education Loan Program, (2) a private insurer or (3) a
combination of both. The percentage of insurance coverage of the outstanding principal and interest of the ARS varies by security.
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