American Eagle Outfitters 2009 Annual Report Download - page 52

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Balance
Unrealized
Holding Gains
Unrealized
Holding Losses
January 31, 2009
(In thousands)
Cash and cash equivalents:
Cash ..................................... $ 61,355 $— $ —
Money-market .............................. 411,987 — —
Total cash and cash equivalents ................... $473,342 $— $ —
Short-term investments:
Preferred stock .............................. $ 6,219 $— $ —
Auction rate preferred securities ................. 4,292 — —
Total short-term investments ...................... $ 10,511 $— $ —
Long-term investments:
Student-loan backed ARS ...................... $169,254 $— $(31,446)
State and local government ARS ................. 69,970 — (630)
Auction rate preferred securities ................. 11,783 — (3,217)
Total long-term investments ...................... $251,007 $— $(35,293)
Total ....................................... $734,860 $— $(35,293)
Proceeds from the sale of available-for-sale securities were $80.4 million, $393.6 million and $2.127 billion
for Fiscal 2009, Fiscal 2008 and Fiscal 2007, respectively. There were no purchases of investments during Fiscal
2009. The proceeds from the sale of available-for-sale securities for Fiscal 2008 and Fiscal 2007 are offset against
purchases of $48.7 million and $1.773 billion, respectively. In addition to the net impairment loss recognized in
earnings discussed below for Fiscal 2009 and Fiscal 2008, the Company recorded net realized losses related to the
sale of available-for-sale securities of $2.7 million, $1.1 million and $0.4 million for Fiscal 2009, Fiscal 2008 and
Fiscal 2007, respectively, in other (expense) income, net.
The following tables present the length of time available-for-sale securities were in continuous unrealized loss
positions but were not deemed to be other-than-temporarily impaired:
Gross Unrealized
Holding Losses Fair Value
Gross Unrealized
Holding Losses Fair Value
Less than
12 Months
Greater than
or Equal
to 12 Months
(In thousands)
January 30, 2010
Student-loan backed ARS ................. $ (1,643) $ 9,203 $(6,926) $50,228
State and local government ARS ........... (273) 8,096 (183) 20,922
Auction rate preferred securities ............ — — (1,287) 12,773
Total(1) ................................ $ (1,916) $ 17,299 $(8,396) $83,923
January 31, 2009
Student-loan backed ARS ................. $(31,446) $169,254 $ — $ —
State and local government ARS ........... (630) 61,570 — —
Auction rate preferred securities ............ (3,217) 11,783 — —
Total(1) ................................ $(35,293) $242,607 $ — $ —
51
AMERICAN EAGLE OUTFITTERS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)