Urban Outfitters 2009 Annual Report Download - page 67

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URBAN OUTFITTERS, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Below is a reconciliation of the beginning and ending ARS securities balances that the Company
valued using a Level 3 valuation for the fiscal year ended January 31, 2009.
Fiscal Year Ended
January 31, 2009
Balance at beginning of period .................................. $61,375
Total (losses) realized/unrealized:
Included in earnings .................................. (2,880)
Included in other comprehensive income .................. (5,283)
Purchases, issuances and settlements ......................... (17,350)
Transfers in and/or out of Level 3 ............................ 2,880
Ending Balance as of January 31, 2009 ........................... $38,742
Total (losses) for the period included in other comprehensive income
attributable to the change in unrealized (losses) related to assets still
held at reporting date ........................................ $ (5,283)
5. Property and Equipment
Property and equipment is summarized as follows:
January 31,
2009 2008
Land ................................................ $ 543 $ 543
Buildings ............................................ 96,205 94,547
Furniture and fixtures .................................. 214,178 184,910
Leasehold improvements ................................ 486,959 432,831
Other operating equipment .............................. 48,021 38,433
Construction-in-progress ................................ 15,458 19,796
861,364 771,060
Accumulated depreciation ............................... (355,957) (282,171)
Total ............................................ $505,407 $ 488,889
Depreciation expense for property and equipment for fiscal years ended 2009, 2008 and 2007 was
$79,505, $68,282 and $53,895, respectively.
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