Urban Outfitters 2009 Annual Report Download - page 64

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URBAN OUTFITTERS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
3. Marketable Securities
During all periods shown, marketable securities are classified as available-for-sale. The amortized
cost, gross unrealized gains (losses) and fair values of available-for-sale securities by major security
type and class of security as of January 31, 2009 and 2008 are as follows:
Amortized
Cost
Unrealized
Gains
Unrealized
(Losses)
Fair
Value
As of January 31, 2009
Short-term Investments:
Municipal bonds ........................... $ 15,814 $ 123 $ — $ 15,937
Mutual funds .............................. 5,046 — — 5,046
Federal government agencies ................. 24,975 — — 24,975
Demand notes and equities ................... 4,840 2 (852) 3,990
50,675 125 (852) 49,948
Long-term Investments:
Municipal bonds ........................... 76,517 1,239 (10) 77,746
Auction rate instruments (1) .................. 44,025 — (5,283) 38,742
Federal government agencies ................. 25,640 — (141) 25,499
FDIC insured corporate bonds ................ 13,318 — (79) 13,239
159,500 1,239 (5,513) 155,226
$210,175 $1,364 $(6,365) $205,174
As of January 31, 2008
Short-term Investments:
Municipal bonds ........................... $ 24,675 $ 142 $ — $ 24,817
Auction rate instruments ..................... 33,825 — — 33,825
Demand notes ............................. 21,485 — — 21,485
79,985 142 — 80,127
Long-term Investments:
Municipal bonds ........................... 124,148 2,729 — 126,877
Auction rate instruments (1) .................. 61,375 — — 61,375
185,523 2,729 — 188,252
$265,508 $2,871 — $268,379
(1) ARS have been classified as long-term assets in marketable securities in the Company’s
Consolidated Balance Sheet as of January 31, 2009 and 2008 due to ARS failures.
Proceeds from the sale and maturities of available-for-sale securities were $864,685, $220,101
and $193,274 in fiscal 2009, 2008 and 2007, respectively. The Company included in other income, a
net realized loss of $896 during fiscal 2009, a net realized gain of $1 during fiscal 2008 and a net
realized loss of $8 during fiscal 2007. Amortization of discounts and premiums, net, resulted in
charges of $2,444, $1,734 and $1,818 for fiscal years 2009, 2008, and 2007, respectively.
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