Finding Financial Information

Refer to the financial statements of American Eagle Outfitters in Appendix B at the end of this book.

Required:

1. What types of securities are included in the short-term investments and the long-term investments reported on the company’s balance sheet as of the end of fiscal 2008 (statement dated January 31, 2009)? (Hint: The notes to the financial statements may be helpful for this question.)

2. What is the balance of goodwill reported by the company at January 31, 2009? What does the change in goodwill from February 2, 2008, imply about corporate acquisition activities in the 2008 fiscal year? Do the notes to the financial statements indicate any acquisition or disposition activity in either fiscal 2007 or 2008? If so, what were the activities?