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These excerpts taken from the FL 10-K filed Mar 30, 2009. Short-Term Investments The Company accounts for its short-term investments in accordance with SFAS No. 115, “Accounting for Certain Investments in Debt and Equity Securities.” At January 31, 2009, the Company’s short-term investment was $23 million, which represents the fair value of its investment in the Reserve International Liquidity Fund, Ltd., a money market fund. See note 4 for further discussion on this investment. Short-Term The Short-Term The 7. Short-Term Investments
The Company has classified its remaining investment in the Reserve International Liquidity Fund as a short-term investment as of January 31, 2009. The determination to classify the investment as short-term was based upon a review of the underlying assets and maturities of the Fund. With the liquidity issues experienced in the global credit and capital markets, the Company’s preferred stock auction rate security, having a face value of $7 million, has experienced failed auctions. For the years ended January 31, 2009 and February 2, 2008, the Company determined that a temporary impairment occurred and recorded charges of $3 million and $2 million, respectively, with no tax benefit, to accumulated other comprehensive loss. In the second quarter of 2008, the Company determined that due to the illiquid nature of this investment it should be classified as a non-current asset. Accordingly, the fair value of $2 million is recorded within other assets as of January 31, 2009. Based on the relatively small size of these investments and its ability to access cash and other short-term investments, and expected operating cash flows, the Company does not anticipate the lack of liquidity on these investments will affect its ability to operate its business as usual. 44 7. Short-Term
The Based on the relatively small size of these investments and its ability 44 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
7. Short-Term
The Based on the relatively small size of these investments and its ability 44 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
These excerpts taken from the FL 10-K filed Mar 31, 2008. 6. Short-Term Investments The Company’s auction rate security investments are accounted for as available-for-sale securities. The following represents the composition of the Company’s auction rate securities by underlying investment.
With the liquidity issues experienced in the global credit and capital markets, the Company’s preferred stock auction rate security, having a face value of $7 million, has experienced failed auctions. The Company determined that a temporary impairment has occurred and therefore has recorded a charge of $2 million, with no tax benefit, to accumulated other comprehensive loss as of February 2, 2008. This security will continue to accrue interest at the contractual rate and will be auctioned every 90 days until the auction succeeds. Based on the relatively small size of this investment and the Company’s ability to access cash and other short-term investments, and expected operating cash flows, we do not anticipate the lack of liquidity on this investment will affect our ability to operate our business as usual. 6. Short-Term The
With This excerpt taken from the FL 10-K filed Apr 2, 2007. 5 Short-Term Investments The Company’s auction rate security investments are accounted for as available-for-sale securities. The fair value of all investments approximate their carrying cost as the investments are generally not held for more than 49 days and they are traded at par value. The following represents the composition of the Company’s auction rate securities by underlying investment.
Contractual maturities of the bonds outstanding at February 3, 2007 range from 2026 to 2042. This excerpt taken from the FL 10-K filed Mar 29, 2005. Short-Term Investments The Company accounts for its short-term investments
in accordance with SFAS No. 115, “Accounting for Certain Investments in Debt and Equity Securities.” At January 29, 2005, all of the
Company’s investments were classified as available for sale, and accordingly are reported at fair value. Short-term investments comprise auction
rate securities. Auction rate securities are perpetual preferred or long-dated securities whose dividend/coupon resets periodically through a Dutch
auction process. A Dutch auction is a competitive bidding process designed to determine a rate for the next term, such that all sellers sell at par and
all buyers buy at par. Accordingly, there were no realized or unrealized gains or losses for any of the periods presented.
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