3. Marketable Securities

During all periods presented, marketable securities are classified as available-for-sale. The amortized cost, gross unrealized gains (losses) and fair value of available-for-sale securities by major security type and class of security as of October 31, 2013, January 31, 2013 and October 31, 2012 were as follows:


	Amortized Cost		Unrealized Gains		Unrealized (Losses)			Fair Value
As of October 31, 2013
Short-term Investments:
Corporate bonds	$	77,806	$	37	$	(25	)	$	77,818
Municipal and pre-refunded municipal bonds		84,662		71		(3	)		84,730
Certificates of deposit		26,733		17		—			26,750
Commercial paper		28,159		10		(2	)		28,167
Treasury bills		10,079		3		—			10,082

		227,439		138		(30	)		227,547

Long-term Investments:
Corporate bonds		156,170		197		(144	)		156,223
Municipal and pre-refunded municipal bonds		122,356		324		(13	)		122,667
Certificates of deposit		2,001		1		—			2,002
Treasury bills		12,183		9		—			12,192
Federal government agencies		8,784		4		—			8,788
Mutual funds, held in rabbi trust		1,236		92		—			1,328

		302,730		627		(157	)		303,200

	$	530,169	$	765	$	(187	)	$	530,747

As of January 31, 2013
Short-term Investments:
Corporate bonds	$	88,432	$	106	$	(23	)	$	88,515
Municipal and pre-refunded municipal bonds		63,355		85		(17	)		63,423
Certificates of deposit		40,870		25		—			40,895
Commercial paper		10,775		8		(2	)		10,781
Treasury bills		21,354		14		—			21,368
Federal government agencies		3,500		4		—			3,504

		228,286		242		(42	)		228,486

Long-term Investments:
Corporate bonds		64,219		102		(61	)		64,260
Municipal and pre-refunded municipal bonds		52,925		76		(60	)		52,941
Certificates of deposit		2,340		—		—			2,340
Treasury bills		19,724		13		—			19,737
Federal government agencies		5,974		5		(2	)		5,977
Auction rate securities		4,925		—		(595	)		4,330

		150,107		196		(718	)		149,585

	$	378,393	$	438	$	(760	)	$	378,071

As of October 31, 2012
Short-term Investments:
Corporate bonds	$	64,975	$	89	$	(7	)	$	65,057
Municipal and pre-refunded municipal bonds		29,937		98		(6	)		30,029
Certificate of deposit		28,676		28		—			28,704
Commercial paper		8,178		11		—			8,189
Treasury bills		10,582		4		—			10,586
Federal government agencies		3,500		—		—			3,500

		145,848		230		(13	)		146,065

Long-term Investments:
Corporate bonds		46,507		155		(57	)		46,605
Municipal and pre-refunded municipal bonds		21,456		47		(27	)		21,476
Certificate of deposit		1,925		1		—			1,926
Treasury bills		18,211		7		(1	)		18,217
Federal government agencies		1,211		2		—			1,213
Auction rate securities		4,925		—		(595	)		4,330

		94,235		212		(680	)		93,767

	$	240,083	$	442	$	(693	)	$	239,832

Proceeds from the sale and maturities of available-for-sale securities were $326,103 and $175,991 for the nine months ended October 31, 2013 and 2012, respectively. The Company included in “Other (expense) income, net,” realized gains of $37 and losses of $165 for the three and nine months ended October 31, 2013, respectively. The Company included in “Other (expense) income, net,” realized gains of $36 and $249 for the three and nine months ended October 31, 2012, respectively. Amortization of discounts and premiums, net, resulted in charges of $2,992 and $7,711 for the three and nine months ended October 31, 2013, respectively. Amortization of discounts and premiums, net, resulted in charges of $1,179 and $3,657 for the three and nine months ended October 31, 2012, respectively. Mutual funds represent assets held in an irrevocable rabbi trust for the Urban Outfitters, Inc. Nonqualified Deferred Compensation Plan (“NQDC”), which was established during the first quarter of fiscal 2014. These assets are a source of funds to match the funding obligations to participants in the NQDC but are subject to the Company’s general creditors. The Company elected the fair value option for financial assets for the mutual funds held in the rabbi trust resulting in all unrealized gains and losses being recorded in “Other (expense) income, net” in the Condensed Consolidated Statements of Income and not as a component of accumulated other comprehensive loss.

In April 2013, the Company sold all of its remaining auction rate securities (“ARS”) for approximately $4.6 million in cash. The Company’s ARS had a par value and a recorded fair value of $4.9 million and $4.3 million, respectively, prior to the sale in April 2013 and as of January 31, 2013 and October 31, 2012.