DSW 2008 Annual Report Download - page 63

a
li
a
bili
ty
i
nanor
d
er
l
y transact
i
on
b
etween mar
k
et part
i
c
i
pants at t
h
e measurement
d
ate. T
h
ere
f
ore,
f
a
i
rva
l
ue
i
sa
m
ar
k
et-
b
ase
d
measurement
b
ase
d
on assumpt
i
ons o
f
t
h
e mar
k
et part
i
c
i
pants. As a
b
as
i
s
f
or t
h
ese assumpt
i
ons, FA
S
1
5
7 establishes the followin
g
three level fair value hierarch
y:
•Leve
l
1
i
nputs are una
dj
uste
d
quote
d
pr
i
ces
i
n act
i
ve mar
k
ets
f
or
id
ent
i
ca
l
assets or
li
a
bili
t
i
es t
h
at are
publicly accessible. Active markets have frequent transactions with enough volume to provide ongoin
g
pricing information.
• Level 2 inputs are other than level 1 inputs that are directl
y
or indirectl
y
observable. These can includ
e
u
na
dj
uste
d
quote
d
pr
i
ces
f
or s
i
m
il
ar assets or
li
a
bili
t
i
es
i
n act
i
ve mar
k
ets, una
dj
uste
d
quote
d
pr
i
ces
f
or
i
dentical assets or liabilities in inactive markets, or other observable in
p
uts
.
•Leve
l
3
i
n
p
uts are uno
b
serva
bl
e
i
n
p
uts.
F
i
nanc
i
a
l
assets an
dli
a
bili
t
i
es measure
d
at
f
a
i
rva
l
ue on a recurr
i
ng
b
as
i
saso
f
January 31, 2009 cons
i
ste
d
o
f
th
e
f
o
ll
ow
i
n
g:
B
alance a
t
January
31,
2009
L
eve
l
1
L
eve
l
2
L
eve
l
3
(
In thousands
)
A
ssets
:
C
ash and e
q
uivalents
.
.........................
$
5
4
,
782
$
54
,
78
2
Short-term investments
........................
101,404 $99,559 $1,845
Lon
g
-term investment
s
........................
1,266 1,26
6
$
157,452 $54,782 $99,559 $3,11
1
C
as
h
an
d
equ
i
va
l
ents pr
i
mar
il
y represent cas
hd
epos
i
ts an
di
nvestments
i
n money mar
k
et
f
un
d
s
h
e
ld
w
i
t
h
fi
nanc
i
a
li
nst
i
tut
i
ons, as we
ll
as cre
di
t car
d
rece
i
va
bl
es t
h
at sett
l
e
i
n
l
ess t
h
an t
h
ree
d
ays. Our
i
nvestments
i
n auct
i
on
r
ate securities is recorded at fair value under FAS 1
5
7 usin
g
an income approach valuation model that uses level
3
i
nputs suc
h
as t
h
e
fi
nanc
i
a
l
con
di
t
i
on o
f
t
h
e
i
ssuers o
f
t
h
eun
d
er
l
y
i
ng secur
i
t
i
es, expectat
i
ons regar
di
ng t
h
enext
s
uccess
f
u
l
auct
i
on, r
i
s
k
s
i
nt
h
e auct
i
on rate secur
i
t
i
es mar
k
et an
d
ot
h
er var
i
ous assumpt
i
ons. Our ot
h
er t
y
pes o
f
investments are valued usin
g
a market based approach usin
g
level 2 inputs such as prices of similar assets in active
markets
.
T
he activit
y
related to level 3 investments for the
y
ear ended Januar
y
31, 2009 is summarized below
:
S
hort-Ter
m
I
nvestments
,
ne
t
Lon
g
-Ter
m
Investments
,
ne
t
(In thousands
)
C
arrying value as of February 2, 2008
.
.....................
$
7
0
,
005
$
12
,
500
M
atu
ri
t
i
es a
n
dsa
l
es
....................................
(68,8
55
) (7,600)
T
ransfers into short-term investments, net
....................
2,
5
0
0
T
rans
f
ers
i
nto
l
on
g
-term
i
nvestments, ne
t
....................
(
2,500
)
T
rans
f
ers out o
fl
e
v
e
l3
.
................................
(
1,150
)
O
t
h
er-t
h
an-temporary
i
mpa
i
rment
i
nc
l
u
d
e
di
n earn
i
ngs
..........
(1
,
134)
Unrea
li
ze
dl
osses
i
nc
l
u
d
e
di
n accumu
l
ate
d
ot
h
er compre
h
ens
i
v
e
l
os
s
..............................................
(
655
)
C
arrying value as of January 31, 200
9
.
.....................
$
1
,
845
$
1
,
266
F-
17
D
S
W INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS —
(
Continued
)