Fair Value (Tables)

6 Months Ended

Jul. 31, 2013

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 July 31, 2013
	Level 1		Level 2		Level 3		Total
Assets:
Municipal and pre-refunded municipal bonds	$	—	$	192,361	$	—	$	192,361
Corporate bonds		175,229		—		—		175,229
Certificates of deposit		—		33,694		—		33,694
Treasury bills		24,344		—		—		24,344
Commercial paper		—		8,292		—		8,292
Federal government agencies		7,793		—		—		7,793
Mutual funds, held in rabbi trust		852		—		—		852

	$	208,218	$	234,347	$	—	$	442,565


	Marketable Securities Fair Value as of January 31, 2013
	Level 1		Level 2		Level 3		Total
Assets:
Municipal and pre-refunded municipal bonds	$	—	$	116,364	$	—	$	116,364
Corporate bonds		152,775		—		—		152,775
Certificates of deposit		—		43,235		—		43,235
Treasury bills		41,105		—		—		41,105
Commercial paper		—		10,781		—		10,781
Federal government agencies		9,481		—		—		9,481
Auction rate securities		—		—		4,330		4,330

	$	203,361	$	170,380	$	4,330	$	378,071


	Marketable Securities Fair Value as of July 31, 2012
	Level 1		Level 2		Level 3		Total
Assets:
Municipal and pre-refunded municipal bonds	$	—	$	52,808	$	—	$	52,808
Corporate bonds		101,813		—		—		101,813
Certificates of deposit		—		25,198		—		25,198
Treasury bills		30,295		—		—		30,295
Commercial paper		—		7,287		—		7,287
Federal government agencies		5,823		—		—		5,823
Auction rate securities		—		—		4,330		4,330

	$	137,931	$	85,293	$	4,330	$	227,554

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 July 31, 2013		Fiscal Year Ended January 31, 2013			Three Months Ended July 31, 2012
Balance at beginning of period	$	—	$	20,197		$	4,330
Total gains realized/unrealized:
Included in earnings		—		—			—
Included in other comprehensive income		—		2,183			—
Settlements		—		(18,050	)		—
Transfers in and/or out of Level 3		—		—			—

Balance at end of period	$	—	$	4,330		$	4,330

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

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	$	—	$	—		$	—


	Six Months Ended July 31, 2013			Six Months Ended July 31, 2012
Balance at beginning of period	$	4,330		$	20,197
Total (losses)/gains realized/unrealized:
Included in earnings		(345	)		—
Included in other comprehensive income		595			2,183
Settlements		(4,580	)		(18,050	)
Transfers in and/or out of Level 3		—			—

Balance at end of period	$	—		$	4,330

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

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 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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