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Investments | 12 Months Ended
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Jul. 28, 2012
Investments | 7. Investments The Company classifies its investments in securities at the time of purchase as held-to-maturity, available-for-sale or trading, and re-evaluates such classifications on a quarterly basis. Except as noted below on ARS, no material unrealized gains or losses on available-for-sale investments were recognized during any of the periods presented. As of the end of each period, the Company had no securities classified as held-to-maturity or trading. The following table summarizes the Company’s short-term and non-current investments by maturity date that were recorded in the consolidated balance sheets as of July 28, 2012 and July 30, 2011.
|  | July 28, 2012 |  |  | July 30, 2011 |
|  | <1 year |  |  | 1- 3 years |  |  | Over 3 years |  |  | Total |  |  | <1 year |  |  | 1- 3 years |  |  | Over 3 years |  |  | Total |
|  |  |  |  |  |  |  |  |  |  | (millions) |  |  |  |  |  |  |  |  |
Available-for-sale investments-short-term: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 52.7 |  |  | $ | — |  |  | $ | — |  |  | $ | 52.7 |
Restricted cash |  |  | 1.4 |  |  |  | — |  |  |  | — |  |  |  | 1.4 |  |  |  | 1.4 |  |  |  | — |  |  |  | — |  |  |  | 1.4 |
Total short-term investments |  |  | 1.4 |  |  |  | — |  |  |  | — |  |  |  | 1.4 |  |  |  | 54.1 |  |  |  | — |  |  |  | — |  |  |  | 54.1 |
Available-for-sale investments-non-current: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal bonds |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 102.7 |  |  |  | 23.8 |  |  |  | 126.5 |
Auction rate securities |  |  | — |  |  |  | — |  |  |  | 2.7 |  |  |  | 2.7 |  |  |  | — |  |  |  | — |  |  |  | 12.0 |  |  |  | 12.0 |
Total non-current available-for-sale investments |  |  | — |  |  |  | — |  |  |  | 2.7 |  |  |  | 2.7 |  |  |  | — |  |  |  | 102.7 |  |  |  | 35.8 |  |  |  | 138.5 |
Other non-current investments |  |  | 0.5 |  |  |  | — |  |  |  | — |  |  |  | 0.5 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total non-current investments |  |  | 0.5 |  |  |  | — |  |  |  | 2.7 |  |  |  | 3.2 |  |  |  | — |  |  |  | 102.7 |  |  |  | 35.8 |  |  |  | 138.5 |
Total Investments |  | $ | 1.9 |  |  | $ | — |  |  | $ | 2.7 |  |  | $ | 4.6 |  |  | $ | 54.1 |  |  | $ | 102.7 |  |  | $ | 35.8 |  |  | $ | 192.6 |
In connection with the funding requirements to consummate the Charming Shoppes Acquisition, the Company liquidated substantially all of its investment portfolio during the fourth quarter of Fiscal 2012. Proceeds from the sale of the investment portfolio during the fourth quarter of Fiscal 2012 were approximately $240 million. The Company recognized a related realized gain of approximately $1 million in connection with the sales of such investments, which has been classified as a component of interest and other income, net, in the accompanying consolidated financial statement of operations for Fiscal 2012. Auction rate securities (“ARS”) are variable-rate debt securities. ARS have a long-term maturity with the interest rate being reset through Dutch auctions that are typically held every 7, 28 or 35 days. Interest is paid at the end of each auction period. After $11.7 million of ARS were called for redemption at par during Fiscal 2012, the Company has one investment in ARS remaining, with a book value of $2.7 million and a par value of $3.9 million. This investment is collateralized by student loans guaranteed by the U.S. government under the Federal Family Education Loan Program. This ARS is classified as a non-current asset in our consolidated balance sheet as of July 28, 2012 because of our inability to determine when it can be sold. This security is currently paying in accordance with its contractual terms, and as such, management does not intend to sell it, nor does it believe any individual unrealized loss at July 28, 2012 represents an other-than-temporary impairment.

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- Definition Tabular disclosure of investments in certain debt and equity securities (and certain other trading assets) which include all debt and equity securities (other than those equity securities accounted for under the equity or cost methods of accounting) with readily determinable fair values. Other trading assets include assets that are carried on the balance sheet at fair value and held for trading purposes. A debt security represents a creditor relationship with an enterprise that is in the form of a security. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities (and other trading assets). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27405-111563 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6379141&loc=d3e15032-111544 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Equity Security -URI http://asc.fasb.org/extlink&oid=6511694 -Topic 320 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27161-111563 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Glossary Debt Security -URI http://asc.fasb.org/extlink&oid=6509901 -Topic 320 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 115 -Paragraph 3, 19, 20, 21, 22, 137 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27232-111563 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27357-111563 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6957658&loc=d3e62557-112803 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=6872113&loc=d3e27290-111563 + Details
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