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Marketable Securities
 6 Months Ended
Jul. 31, 2014
Marketable Securities

3. Marketable Securities

During all periods shown, 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 July 31, 2014, January 31, 2014 and July 31, 2013 were as follows:

 

     Amortized
Cost		      Unrealized
Gains		      Unrealized
(Losses)		     Fair
Value		  

As of July 31, 2014

           

Short-term Investments:

           

Corporate bonds

    $ 55,849       $ 50       $ (15 )    $ 55,884   

Municipal and pre-refunded municipal bonds

      29,022         29         (1 )      29,050   

Certificates of deposit

      14,348         9         —          14,357   

Treasury bills

      4,530         4         —          4,534   

Commercial paper

      2,892         4         —          2,896   
  

 

 

     

 

 

     

 

 

    

 

 

  
     106,641         96         (16 )      106,721   
  

 

 

     

 

 

     

 

 

    

 

 

  

Long-term Investments:

           

Corporate bonds

      93,086         96         (143 )      93,039   

Municipal and pre-refunded municipal bonds

      45,387         107         (18 )      45,476   

Certificates of deposit

      2,493         —           —          2,493   

Treasury bills

      11,264         5         —          11,269   

Mutual funds, held in rabbi trust

      3,026         68         (5 )      3,089   

Federal government agencies

      1,777         3         —          1,780   
  

 

 

     

 

 

     

 

 

    

 

 

  
     157,033         279         (166 )      157,146   
  

 

 

     

 

 

     

 

 

    

 

 

  
   $ 263,674       $ 375       $ (182 )    $ 263,867   
  

 

 

     

 

 

     

 

 

    

 

 

  

As of January 31, 2014

           

Short-term Investments:

           

Corporate bonds

    $ 100,856       $ 56       $ (41 )    $ 100,871   

Municipal and pre-refunded municipal bonds

      85,000         98         (2 )      85,096   

Certificates of deposit

      35,844         13         (1 )      35,856   

Treasury bills

      24,873         10         —          24,883   

Commercial paper

      35,101         7         (1 )      35,107   
  

 

 

     

 

 

     

 

 

    

 

 

  
     281,674         184         (45 )      281,813   
  

 

 

     

 

 

     

 

 

    

 

 

  

Long-term Investments:

           

Corporate bonds

      208,446         268         (162 )      208,552   

Municipal and pre-refunded municipal bonds

      125,934         415         (8 )      126,341   

Certificates of deposit

      4,000         —           (2 )      3,998   

Treasury bills

      21,551         21         —          21,572   

Mutual funds, held in rabbi trust

      1,591         108         (33 )      1,666   

Federal government agencies

      4,287         6         —          4,293   
  

 

 

     

 

 

     

 

 

    

 

 

  
     365,809         818         (205 )      366,422   
  

 

 

     

 

 

     

 

 

    

 

 

  
   $ 647,483       $ 1,002       $ (250 )    $ 648,235   
  

 

 

     

 

 

     

 

 

    

 

 

  

 

     Amortized
Cost		      Unrealized
Gains		      Unrealized
(Losses)		     Fair
Value		  

As of July 31, 2013

           

Short-term Investments:

           

Corporate bonds

    $ 79,637       $ 22       $ (37 )    $ 79,622   

Municipal and pre-refunded municipal bonds

      91,819         61         (9 )      91,871   

Certificates of deposit

      29,870         24         —          29,894   

Treasury bills

      16,115         5         —          16,120   

Commercial paper

      8,284         8         —          8,292   
  

 

 

     

 

 

     

 

 

    

 

 

  
     225,725         120         (46 )      225,799   
  

 

 

     

 

 

     

 

 

    

 

 

  

Long-term Investments:

           

Corporate bonds

      95,795         51         (239 )      95,607   

Municipal and pre-refunded municipal bonds

      100,402         142         (54 )      100,490   

Certificates of deposit

      3,801         1         (2 )      3,800   

Treasury bills

      8,218         6         —          8,224   

Mutual funds, held in rabbi trust

      817         35         —          852   

Federal government agencies

      7,800         —           (7 )      7,793   
  

 

 

     

 

 

     

 

 

    

 

 

  
     216,833         235         (302 )      216,766   
  

 

 

     

 

 

     

 

 

    

 

 

  
   $ 442,558       $ 355       $ (348 )    $ 442,565   
  

 

 

     

 

 

     

 

 

    

 

 

  

Proceeds from the sale and maturities of available-for-sale securities were $631,950 and $245,759 for the six months ended July 31, 2014 and 2013, respectively. The Company included in “Other (expense) income, net,” realized gains of $101 and $171 for the three and six months ended July 31, 2014, respectively, and realized gains of $12 and losses of $202 for the three and six months ended July 31, 2013, respectively. Amortization of discounts and premiums, net, resulted in charges of $1,499 and $4,106 for the three and six months ended July 31, 2014, respectively, and $2,527 and $4,719 for the three and six months ended July 31, 2013, respectively. Mutual funds represent assets held in an irrevocable rabbi trust for the Company’s Non-qualified Deferred Compensation Plan (“NQDC”). 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 income (loss).