Urban Outfitters 2012 Annual Report Download - page 70

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Table of Contents
URBAN OUTFITTERS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(in thousands, except share and per share data)
Below is a reconciliation of the beginning and ending ARS securities balances that the Company valued using a Level 3 valuation for the fiscal years
ended January 31, 2012 and 2011.
Fiscal Year Ended
January 31, 2012
Fiscal Year Ended
January 31, 2011
Balance at beginning of period $ 29,462 $ 33,505
Total gains (losses) realized/unrealized:
Included in earnings — —
Included in comprehensive income 1,010 332
Settlements (10,275) (4,375)
Transfers in and/or out of Level 3 — —
Balance at end of period $ 20,197 $ 29,462
Unrealized losses included in accumulated other comprehensive loss related to assets still held at reporting date $ (2,778) $ (3,788)
Total gains for the period included in earnings attributable to the change in unrealized gains or losses related to assets
still held at reporting date $ — $ —
5. Property and Equipment
Property and equipment is summarized as follows:
January 31,
2012 2011
Land $ 5,801 $ 2,387
Buildings 118,050 117,982
Furniture and fixtures 306,020 273,621
Leasehold improvements 676,644 606,020
Other operating equipment 103,818 81,856
Construction-in-progress 91,433 29,295
1,301,766 1,111,161
Accumulated depreciation (616,787) (524,815)
Total $ 684,979 $ 586,346
Depreciation expense for property and equipment for fiscal years ended 2012, 2011 and 2010 was $100,739, $92,403 and $86,146, respectively.
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