Fair Value (Tables)

12 Months Ended

Jan. 31, 2014

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 table below:


	Marketable Securities Fair Value as of January 31, 2014
	Level 1		Level 2		Level 3		Total
Assets:
Corporate bonds	$	309,423	$	—	$	—	$	309,423
Municipal and pre-refunded municipal bonds		—		211,437		—		211,437
Treasury bills		46,455		—		—		46,455
Certificates deposit		—		39,854		—		39,854
Commercial paper		—		35,107		—		35,107
Federal government agencies		4,293		—		—		4,293
Mutual funds, held in rabbi trust		1,666		—		—		1,666

	$	361,837	$	286,398	$	—	$	648,235


	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
Treasury bills		41,105		—		—		41,105
Certificates of deposit		—		43,235		—		43,235
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

Reconciliation of Beginning and Ending Auction Rate Securities Balances

Below is a reconciliation of the beginning and ending ARS securities balances that the Company valued using a Level 3 valuation for the fiscal years ended January 31, 2014 and 2013.


	Fiscal Year Ended January 31, 2014			Fiscal Year Ended January 31, 2013
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 liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes 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 liability.

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