Pep Boys 2013 Annual Report Download - page 145

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THE PEP BOYS—MANNY, MOE & JACK AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Years ended February 1, 2014, February 2, 2013 and January 28, 2012
NOTE 16—FAIR VALUE MEASUREMENTS (Continued)
The following table provides information by level for assets and liabilities that are measured at fair
value, on a recurring basis.
Fair Value Measurements
Fair Value at Using Inputs Considered as
(dollar amounts in thousands) February 1,
Description 2014 Level 1 Level 2 Level 3
Assets:
Cash and cash equivalents ............ $33,431 $33,431 $ — $—
Collateral investments(a) .............. 21,611 21,611 — —
Deferred compensation assets(a) ........ 4,242 — 4,242 —
Other assets
Derivative asset(a) .................. 606 — 606 —
(a) included in other long-term assets
Fair Value Measurements
Fair Value at Using Inputs Considered as
(dollar amounts in thousands) February 2,
Description 2013 Level 1 Level 2 Level 3
Assets:
Cash and cash equivalents ............ $59,186 $59,186 $ — $—
Collateral investments(a) .............. 20,929 20,929 — —
Deferred compensation assets(a) ........ 3,834 — 3,834 —
Liabilities:
Other liabilities
Derivative liability(b) ................ 1,567 — 1,567 —
(a) included in other long-term assets
(b) included in other long-term liabilities
The following represents the impact of fair value accounting for the Company’s derivative liability
on its consolidated financial statements:
Amount of Gain in
Other Comprehensive Amount of Loss
Income Earnings Statement Recognized in Earnings
(Effective Portion) Classification (Effective Portion)
(dollar amounts in thousands)
Fiscal 2013 .......... $1,359 Interest expense $ 614
Fiscal 2012 .......... 2,171 Interest expense 4,676
Non-financial assets measured at fair value on a non-recurring basis:
Certain assets are measured at fair value on a non-recurring basis, that is, the assets are subject to
fair value adjustments in certain circumstances such as when there is evidence of impairment. These
measures of fair value, and related inputs, are considered level 2 or level 3 measures under the fair
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