American Eagle Outfitters 2013 Annual Report Download - page 14

Download and view the complete annual report

Please find page 14 of the 2013 American Eagle Outfitters annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 35

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35

Table of Contents
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 May 3, 2014 and May 4, 2013:
In the event the Company holds Level 3 investments, a discounted cash flow model is used to value those investments. There were no Level 3
investments at May 3, 2014 or May 4, 2013.
Non
-Financial Assets
The Company’s non-financial assets, which include goodwill, intangible assets and property and equipment, are not required to be measured at
fair value on a recurring basis. However, if certain triggering events occur, or if an annual impairment test is required, and the Company is
required to evaluate the non-financial instrument for impairment, a resulting asset impairment would require that the non-financial asset be
recorded at the estimated fair value. As a result of the Company’s annual goodwill impairment test performed as of February 1, 2014, the
Company concluded that its goodwill was not impaired.
13
Fair Value Measurements at May 3, 2014
(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
$
217,117
$
217,117
$
—
$
—
Money
-
market
88,535
88,535
—
—
Treasury bills
22,047
22,047
—
—
Total cash and cash equivalents
$
327,699
$
327,699
$
—
$
—
Total
$
327,699
$
327,699
$
—
$
—
Fair Value Measurements at May 4, 2013
(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
$
302,188
$
302,188
$
—
$
—
Money
-
market
54,954
54,954
—
—
Commercial paper
20,000
20,000
—
—
Treasury bills
6,033
6,033
—
—
Total cash and cash equivalents
$
383,175
$
383,175
$
—
$
—
Short
-
term investments:
Treasury bills
$
103,144
$
103,144
$
—
$
—
Term
-
deposits
9,897
9,897
—
—
Total short
-
term investments
$
113,041
$
113,041
$
—
$
—
Total
$
496,216
$
496,216
$
—
$
—