Fair Value (Tables)

9 Months Ended

Oct. 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 October 31, 2013
	Level 1		Level 2		Level 3		Total
Assets:
Corporate bonds	$	234,041	$	—	$	—	$	234,041
Municipal and pre-refunded municipal bonds		—		207,397		—		207,397
Certificates of deposit		—		28,752		—		28,752
Commercial paper		—		28,167		—		28,167
Treasury bills		22,274		—		—		22,274
Federal government agencies		8,788		—		—		8,788
Mutual funds, held in rabbi trust		1,328		—		—		1,328

	$	266,431	$	264,316	$	—	$	530,747


	Marketable Securities Fair Value as of January 31, 2013
	Level 1		Level 2		Level 3		Total
Assets:
Corporate bonds	$	152,775	$	—	$	—	$	152,775
Municipal and pre-refunded municipal bonds		—		116,364		—		116,364
Certificates of deposit		—		43,235		—		43,235
Commercial paper		—		10,781		—		10,781
Treasury bills		41,105		—		—		41,105
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 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
Certificates of deposit		—		30,630		—		30,630
Commercial paper		—		8,189		—		8,189
Treasury bills		28,803		—		—		28,803
Federal government agencies		4,713		—		—		4,713
Auction rate securities		—		—		4,330		4,330

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

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, 2013		Fiscal Year Ended January 31, 2013			Three Months Ended October 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	$	—	$	—		$	—


	Nine Months Ended October 31, 2013			Nine Months Ended October 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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