Dick's Sporting Goods 2012 Annual Report Download - page 95

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73
DICK’S SPORTING GOODS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)
Assets measured at fair value on a recurring basis as of February 2, 2013 and January 28, 2012 are set
forth in the table below:
Description Level 1 Level 2 Level 3
As of February 2, 2013
Assets:
Deferred compensation plan assets held in trust (1) $ 36,871 $ - $ -
Total assets $ 36,871 $ - $ -
As of January 28, 2012
Assets:
Deferred compensation plan assets held in trust (1) $ 27,102 $ - $ -
Total assets $ 27,102 $ - $ -
(1) Consists of investments in various mutual funds made by eligible individuals as part of the
Company’s deferred compensation plan (See Note 13).
The fair value of cash and cash equivalents, accounts receivable, accounts payable and certain other
liabilities approximated book value due to the short-term nature of these instruments at both
February 2, 2013 and January 28, 2012.
The Company uses quoted prices in active markets to determine the fair value of the aforementioned
assets determined to be Level 1 instruments. There were no transfers between Level 1 and 2 during
fiscal 2012. The Company’s policy for recognition of transfers between levels of the fair value hierarchy
is to recognize any transfer at the end of the fiscal quarter in which the determination to transfer was
made.
The following table provides a reconciliation of the beginning and ending balances of assets measured
at fair value on a recurring basis using Level 3 inputs (in thousands):
2012
Beginning balance, January 28, 2012 $ -
Transfers in (see Note 15) 32,370
Total realized losses included in net income (32,370)
Ending balance, February 2, 2013 $ -
Realized losses are included within impairment of available-for-sale investments on the Consolidated
Statements of Income.