DSW 2011 Annual Report Download - page 66

Download and view the complete annual report

Please find page 66 of the 2011 DSW 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 120

  • 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
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120

Table of Contents DSW INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
The following table presents the composition of rental expense for the periods presented:
6. INVESTMENTS
The majority of DSW’s short-term available-for-sale investments are municipal bonds with renewal dates of every 7
days, but longer stated
maturities. Despite the long-term nature of the stated contractual maturities of these short-
term investments, DSW has the ability to liquidate these
securities at the renewal dates. For short-term held-to-
maturity investments, which are corporate bonds and municipal term notes, amortized cost
approximates fair value. In addition to short-term investments, DSW has invested in long-
term corporate bonds and municipal term notes to receive
higher returns. These long-term investments have maturities greater than one year but shorter than three years and are classified as held-to-
maturity. As of January 28, 2012, short-
term investments had gross unrealized holding gains of $0.1 million and gross unrealized holding losses of
$0.1 million. As of January 28, 2012, long-
term investments had gross unrealized holding gains less than of $0.1 million and gross unrealized
holding losses of $0.2 million. The following table discloses the major categories of DSW’s investments as of the periods presented:
F-22
Fiscal years Total
Unrelated
Party
Related
Party
(in thousands)
2012
$
149,886
$
134,651
$
15,235
2013
147,923
132,806
15,117
2014
143,194
128,084
15,110
2015
129,186
114,438
14,748
2016
109,834
96,426
13,408
Future years
337,463
293,018
44,445
Total minimum lease payments
$
1,017,486
$
899,423
$
118,063
Fiscal years ended
January 28, 2012
January 29, 2011
January 30, 2010
(in thousands)
Minimum rentals:
Unrelated parties
$
112,800
$
107,808
$
109,626
Related parties
13,230
11,548
10,887
Contingent rentals:
Unrelated parties
33,784
31,539
31,871
Total
$
159,814
$
150,895
$
152,384