Abercrombie & Fitch 2013 Annual Report Download - page 62

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62
The total fair value of restricted stock units granted during Fiscal 2012, Fiscal 2011 and Fiscal 2010 was $30.1 million,
$31.2 million and $17.9 million, respectively.
The total grant date fair value of restricted stock units and restricted shares which vested during Fiscal 2012, Fiscal 2011
and Fiscal 2010 was $19.5 million, $24.3 million and $24.3 million, respectively.
As of February 2, 2013, there was $38.9 million of total unrecognized compensation cost, net of estimated forfeitures,
related to non-vested restricted stock units. The unrecognized compensation cost is expected to be recognized over a weighted-
average period of six months.
6. CASH AND EQUIVALENTS
Cash and equivalents consisted of (in thousands):
February 2, 2013 January 28, 2012
Cash and equivalents:
Cash $ 398,508 $ 374,479
Cash equivalents 244,997 209,016
Total cash and equivalents $ 643,505 $ 583,495
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 three months. Any cash that is
legally restricted from use is recorded in Other Assets on the Consolidated Balance Sheets. The restricted cash balance was
$31.1 million on February 2, 2013 and $30.0 million on January 28, 2012. Restricted cash includes various cash deposits with
international banks that are used as collateral for customary non-debt banking commitments and deposits into trust accounts to
conform with standard insurance security requirements.
7. INVESTMENTS
Investments consisted of (in thousands):
February 2, 2013 January 28, 2012
Marketable securities:
Available-for-sale securities:
Auction rate securities — student loan backed $ — $ 84,650
Auction rate securities — municipal authority bonds — 14,858
Total available-for-sale securities — 99,508
Rabbi Trust assets:(1)
Money market funds 22 23
Trust-owned life insurance policies (at cash surrender value) 87,575 85,126
Total Rabbi Trust assets 87,597 85,149
Total Investments $ 87,597 $ 184,657
(1) Rabbi Trust assets are included in Other Assets on the Consolidated Balance Sheets and are restricted as to their use.
During Fiscal 2012, the Company sold its remaining ARS. As of January 28, 2012, the Company held $113 million in par
value of auction rate securities at a recorded fair value of $99.5 million. Based on the sale of the remaining ARS, the Company
recorded a gain of $2.5 million for Fiscal 2012.
The irrevocable rabbi trust (the “Rabbi Trust”) is intended to be used as a source of funds to match respective funding
obligations to participants in the Abercrombie & Fitch Co. Nonqualified Savings and Supplemental Retirement Plan I, the
Abercrombie & Fitch Co. Nonqualified Savings and Supplemental Retirement Plan II and the Chief Executive Officer
Supplemental Executive Retirement Plan. The Rabbi Trust assets are consolidated and recorded at fair value, with the exception
of the trust-owned life insurance policies which are recorded at cash surrender value. The Rabbi Trust assets are included in
Other Assets on the Consolidated Balance Sheets and are restricted as to their use as noted above. The change in cash surrender
value of the trust-owned life insurance policies held in the Rabbi Trust resulted in realized gains of $2.4 million and $2.5
Table of Contents ABERCROMBIE & FITCH CO.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)