Fair Value (Tables)

9 Months Ended

Oct. 31, 2012

Financial Assets Measured at Fair Value on Recurring Basis

The Company’s financial assets that are accounted for at fair value on a recurring basis are presented in the tables below:


	Marketable Securities Fair Value as of October 31, 2012
	Level 1		Level 2		Level 3		Total
Assets:
Corporate bonds	$	111,662	$	—	$	—	$	111,662
Municipal and pre-refunded municipal bonds		—		51,505		—		51,505
Certificate of deposit		—		30,630		—		30,630
Treasury bills		28,803		—		—		28,803
Commercial paper		—		8,189		—		8,189
Federal government agencies		4,713		—		—		4,713
Auction rate securities		—		—		4,330		4,330

	$	145,178	$	90,324	$	4,330	$	239,832


	Marketable Securities Fair Value as of January 31, 2012
	Level 1		Level 2		Level 3		Total
Assets:
Corporate bonds	$	95,935	$	—	$	—	$	95,935
Municipal and pre-refunded municipal bonds		—		60,234		—		60,234
Certificates of deposit		—		12,194		—		12,194
Treasury bills		14,988		—		—		14,988
Commercial paper		—		3,592		—		3,592
Federal government agencies		9,627		—		—		9,627
Auction rate securities		—		—		20,197		20,197

	$	120,550	$	76,020	$	20,197	$	216,767


	Marketable Securities Fair Value as of October 31, 2011
	Level 1		Level 2		Level 3		Total
Assets:
Corporate bonds	$	81,407	$	—	$	—	$	81,407
Municipal and pre-refunded municipal bonds		—		64,462		—		64,462
Certificates of deposit		6,969		—		—		6,969
Federal government agencies		2,001		—		—		2,001
Auction rate securities		—		—		20,956		20,956

	$	90,377	$	64,462	$	20,956	$	175,795

Reconciliation of Beginning and Ending Auction Rate Securities Balances

Below is a reconciliation of the beginning and ending ARS balances that the Company valued using a Level 3 valuation for the periods shown.


	Three Months Ended October 31, 2012			Fiscal Year Ended January 31, 2012			Three Months Ended October 31, 2011
Balance at beginning of period	$	4,330		$	29,462		$	23,504
Total gains (losses) realized/unrealized:
Included in earnings		—			—			—
Included in other comprehensive income		—			1,010			327
Settlements		—			(10,275	)		(2,875	)
Transfers in and/or out of Level 3		—			—			—

Balance at end of period	$	4,330		$	20,197		$	20,956

Unrealized losses included in accumulated other comprehensive loss related to assets still held at reporting date	$	(595	)	$	(2,778	)	$	(2,694	)

Total gains for the period included in earnings attributable to the change in unrealized gains or losses related to assets still held at reporting date	$	—		$	—		$	—


	Nine Months Ended October 31, 2012			Nine Months Ended October 31, 2011
Balance at beginning of period	$	20,197		$	29,462
Total gains (losses) realized/unrealized:
Included in earnings		—			—
Included in other comprehensive income		2,183			1,094
Settlements		(18,050	)		(9,600	)
Transfers in and/or out of Level 3		—			—

Balance at end of period	$	4,330		$	20,956

Unrealized losses included in accumulated other comprehensive loss related to assets still held at reporting date	$	(595	)	$	(2,694	)

Total gains for the period included in earnings attributable to the change in unrealized gains or losses related to assets still held at reporting date	$	—		$	—

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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