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Marketable Securities
 9 Months Ended
Oct. 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 October 31, 2014, January 31, 2014 and October 31, 2013 were as follows:

 

     Amortized
Cost		      Unrealized
Gains		      Unrealized
(Losses)		     Fair
Value		  

As of October 31, 2014

           

Short-term Investments:

           

Corporate bonds

    $ 70,859       $ 47       $ (30 )    $ 70,876   

Municipal and pre-refunded municipal bonds

      26,746         34         —          26,780   

Certificates of deposit

      11,978         4         —          11,982   

Commercial paper

      3,592         1         —          3,593   

Federal government agencies

      1,771         3         —          1,774   
  

 

 

     

 

 

     

 

 

    

 

 

  
     114,946         89         (30 )      115,005   
  

 

 

     

 

 

     

 

 

    

 

 

  

Long-term Investments:

           

Corporate bonds

      59,504         65         (83 )      59,486   

Municipal and pre-refunded municipal bonds

      38,292         90         (7 )      38,375   

Certificates of deposit

      3,686         —           —          3,686   

Treasury bills

      8,717         9         —          8,726   

Mutual funds, held in rabbi trust

      3,399         134         (4 )      3,529   

Federal government agencies

      798         —           —          798   
  

 

 

     

 

 

     

 

 

    

 

 

  
     114,396         298         (94 )      114,600   
  

 

 

     

 

 

     

 

 

    

 

 

  
   $ 229,342       $ 387       $ (124 )    $ 229,605   
  

 

 

     

 

 

     

 

 

    

 

 

  

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   
  

 

 

     

 

 

     

 

 

    

 

 

  

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   

Treasury bills

      10,079         3         —          10,082   

Commercial paper

      28,159         10         (2 )      28,167   
  

 

 

     

 

 

     

 

 

    

 

 

  
     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   

Mutual funds, held in rabbi trust

      1,236         92         —          1,328   

Federal government agencies

      8,784         4         —          8,788   
  

 

 

     

 

 

     

 

 

    

 

 

  
     302,730         627         (157 )      303,200   
  

 

 

     

 

 

     

 

 

    

 

 

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

 

 

     

 

 

     

 

 

    

 

 

  

 

Proceeds from the sale and maturities of available-for-sale securities were $720,668 and $326,103 for the nine months ended October 31, 2014 and 2013, respectively. The Company included in “Other expense, net,” realized gains of $30 and $202 for the three and nine months ended October 31, 2014, respectively, and realized gains of $37 and losses of $165 for the three and nine months ended October 31, 2013, respectively. Amortization of discounts and premiums, net, resulted in charges of $1,309 and $5,416 for the three and nine months ended October 31, 2014, respectively, and $2,992 and $7,711 for the three and nine months ended October 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, net” in the Condensed Consolidated Statements of Income and not as a component of accumulated other comprehensive income (loss).