Quantitative and Qualitative Disclosure about Market Risk:
−Removed: exposed to market risk for changes in market prices of our various types of investments.
−Removed: Our investments include marketable securities and an investment partnership (Alternative Asset Fund).
−Removed: Our marketable securities portfolio, which totaled
−Removed: $10,849, at February 28, 2009, is diversified among seven different money managers.
−Removed: As part of our current debt facility, we have pledged certain of our marketable securities as collateral.
−Removed: To the extent the value of the marketable securities
−Removed: falls below $16,000, our Borrowing Base, as defined, is decreased by 125% of the difference between $16,000 and the actual value of those securities.
−Removed: Bassett Industries Alternative Asset Fund L.P was organized under the Delaware Revised Uniform Limited Partnership Act and commenced operations on July 1, 1998.
−Removed: Private Advisors, L.L.C.
−Removed: is the general partner (the General Partner) of the
−Removed: Alternative Asset Fund.
−Removed: We and the General Partner are the only two partners.
−Removed: The objective of the Alternative Asset Fund is to achieve consistent positive returns, while attempting to reduce risk and volatility, by placing its capital with a
−Removed: variety of hedge funds and experienced portfolio managers.
−Removed: Such hedge funds and portfolio managers employ a variety of trading styles or strategies, including, but not limited to, convertible arbitrage, merger or risk arbitrage, distressed debt,
−Removed: long/short equity, multi-strategy and other market-neutral strategies.
−Removed: The Alternative Asset Fund includes investments in various other private limited partnerships, which contain contractual commitments with elements of market risk.
−Removed: contractual commitments, which include fixed income securities and derivatives, may involve future settlements, which give rise to both market and credit risk.
−Removed: The investment partnerships exposure to market risk is determined by a number of factors, including the size, composition, and diversification of positions held, volatility of interest rates, market currency rates, and liquidity.
−Removed: Risks to these funds arise from possible adverse changes in the market value of such interests and the potential inability of counterparties to perform under the terms of the contracts.
−Removed: However, the risk to the Company is limited to the amount of
−Removed: the Alternative Asset Fund investment in each of the funds.
−Removed: Investment balances by fund are presented below.
+Added: We are exposed to market risk from changes in the value of foreign currencies.
+Added: Substantially all of our imports purchased outside of North America are denominated in U.S.
+Added: Therefore, we believe that gains or losses resulting from changes in the value of foreign currencies relating to foreign purchases not denominated in U.S.
+Added: dollars would not be material to our results from operations in fiscal 2021.
+Added: We are exposed to market risk from changes in the cost of raw materials used in our manufacturing processes, principally wood, woven fabric, and foam products.  The cost of foam products, which are petroleum-based, is sensitive to changes in the price of oil.
+Added: We are also exposed to commodity price risk related to diesel fuel prices for fuel used in our logistical services and retail segments.
+Added: We manage our exposure to that risk primarily through the application of fuel surcharges to our customers.
+Added: We have potential exposure to market risk related to conditions in the commercial real estate market.
+Added: Our retail real estate holdings of $17,211 at February 27, 2021 for Company-owned stores could suffer significant impairment in value if we are forced to close additional stores and sell or lease the related properties during periods of weakness in certain markets.
+Added: Additionally, if we are required to assume responsibility for payment under the lease obligations of $2,064 which we have guaranteed on behalf of licensees as of February 27, 2021 we may not be able to secure sufficient sub-lease income in the current market to offset the payments required under the guarantees.
+Added: We are also exposed to risk related to conditions in the commercial real estate rental market with respect to the right-of-use assets we carry on our balance sheet for leased retail store locations, warehouse and distribution facilities.
+Added: At February 27, 2021, the unamortized balance of such right-of-use assets totaled $103,257.
+Added: Should we have to close or otherwise abandon one of these leased locations, we could incur additional impairment charges if rental market conditions do not support a fair value for the right of use asset in excess of its carrying value.
PART I-FINANCIAL INFORMATION-CONTINUED
2 unchanged sentences
(Dollars in thousands except share and per share data)
−Removed: Styx Partners, L.P.
−Removed: HBK Fund, L.P.
−Removed: DB Zwirn Special Opportunities Fund, L.P.
−Removed: Cash and Other
−Removed: We have requested our general partner to attempt to liquidate all of our investments in the Alternative Asset
−Removed: During the first quarter of 2009, we received $12,900 for liquidations associated with Styx Partners, L.P.
−Removed: and HBK Fund, L.P.
−Removed: We expect to receive the remaining portion of our investment in Styx Partners, L.P.
−Removed: during our third quarter subject
−Removed: to completion of their audit.
−Removed: Due to the level of redemption requests, we have been informed that the remainder of the investment in HBK Fund, L.P.
−Removed: should be redeemed over the next two years.
−Removed: We also have been informed that due to the magnitude of
−Removed: other redemption requests on the DB Zwirn Special Opportunities Fund, L,P., it is likely that it will be three to four years before our investment is fully redeemed.
−Removed: We expect to receive the total stated net asset value for the Zwirn investment,
−Removed: subject to any further change in the net asset value due to market variations.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.