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Marketable Securities | 12 Months Ended
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Jan. 31, 2015
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 values of available-for-sale securities by major security type and class of security as of January 31, 2015 and 2014 are as follows:
|  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized (Losses) |  |  | Fair Value |
As of January 31, 2015 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term Investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 56,594 |  |  | $ | 20 |  |  | $ | (24 | ) |  | $ | 56,590 |
Municipal and pre-refunded municipal bonds |  |  | 30,509 |  |  |  | 41 |  |  |  | (2 | ) |  |  | 30,548 |
Certificates of deposit |  |  | 11,127 |  |  |  | 5 |  |  |  | — |  |  |  | 11,132 |
Treasury bills |  |  | 2,033 |  |  |  | 3 |  |  |  | — |  |  |  | 2,036 |
Commercial paper |  |  | 3,938 |  |  |  | 2 |  |  |  | — |  |  |  | 3,940 |
|  |  | 104,201 |  |  |  | 71 |  |  |  | (26 | ) |  |  | 104,246 |
Long-term Investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  |  | 46,754 |  |  |  | 22 |  |  |  | (40 | ) |  |  | 46,736 |
Municipal and pre-refunded municipal bonds |  |  | 42,840 |  |  |  | 113 |  |  |  | (6 | ) |  |  | 42,947 |
Certificates of deposit |  |  | 3,066 |  |  |  | — |  |  |  | — |  |  |  | 3,066 |
Treasury bills |  |  | 7,111 |  |  |  | 9 |  |  |  | — |  |  |  | 7,120 |
Mutual funds, held in rabbi trust |  |  | 3,816 |  |  |  | 16 |  |  |  | (54 | ) |  |  | 3,778 |
Federal government agencies |  |  | 799 |  |  |  | 2 |  |  |  | — |  |  |  | 801 |
|  |  | 104,386 |  |  |  | 162 |  |  |  | (100 | ) |  |  | 104,448 |
|  | $ | 208,587 |  |  | $ | 233 |  |  | $ | (126 | ) |  | $ | 208,694 |
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 |
Proceeds from the sale and maturities of available-for-sale securities were $830,297, $451,866 and $207,576 in fiscal 2015, 2014 and 2013, respectively. The Company included in “Interest income,” in the Consolidated Statements of Income, a net realized gain of $237 during fiscal 2015, a net realized loss of $101 during fiscal 2014 and a net realized gain of $248 during fiscal 2013. Amortization of discounts and premiums, net, resulted in a reduction of “Interest income” of $6,696, $10,932 and $5,276 for fiscal years 2015, 2014 and 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 “Interest income” in the Consolidated Statements of Income and not as a component of accumulated Other comprehensive (loss) income. The following tables show the gross unrealized losses and fair value of the Company’s marketable securities with unrealized losses that are not deemed to be other-than-temporarily impaired aggregated by the length of time that individual securities have been in a continuous unrealized loss position, at January 31, 2015 and January 31, 2014, respectively.
|  | January 31, 2015 |
|  | Less Than 12 Months |  |  | 12 Months or Greater |  |  | Total |
Description of Securities |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |
Corporate bonds |  | $ | 55,384 |  |  | $ | (63 | ) |  | $ | 383 |  |  | $ | (1 | ) |  | $ | 55,767 |  |  | $ | (64 | )
Municipal and pre-refunded municipal bonds |  |  | 4,672 |  |  |  | (8 | ) |  |  | — |  |  |  | — |  |  |  | 4,672 |  |  |  | (8 | )
Certificates of deposit |  |  | 1,600 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,600 |  |  |  | — |
Treasury bills |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Commercial paper |  |  | 747 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 747 |  |  |  | — |
Mutual funds, held in rabbi trust |  |  | 3,778 |  |  |  | (54 | ) |  |  | — |  |  |  | — |  |  |  | 3,778 |  |  |  | (54 | )
Federal government agencies |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 66,181 |  |  | $ | (125 | ) |  | $ | 383 |  |  | $ | (1 | ) |  | $ | 66,564 |  |  | $ | (126 | )
|  | January 31, 2014 |
|  | Less Than 12 Months |  |  | 12 Months or Greater |  |  | Total |
Description of Securities |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |  |  | Fair Value |  |  | Unrealized Losses |
Corporate bonds |  | $ | 147,731 |  |  | $ | (203 | ) |  | $ | — |  |  | $ | — |  |  | $ | 147,731 |  |  | $ | (203 | )
Municipal and pre-refunded municipal bonds |  |  | 6,291 |  |  |  | (10 | ) |  |  | — |  |  |  | — |  |  |  | 6,291 |  |  |  | (10 | )
Certificates of deposit |  |  | 12,746 |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |  |  | 12,746 |  |  |  | (3 | )
Treasury bills |  |  | 6,606 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6,606 |  |  |  | — |
Commercial paper |  |  | 6,640 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | 6,640 |  |  |  | (1 | )
Mutual funds, held in rabbi trust |  |  | 1,666 |  |  |  | (33 | ) |  |  | — |  |  |  | — |  |  |  | 1,666 |  |  |  | (33 | )
Federal government agencies |  |  | 1,753 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,753 |  |  |  | — |
Total |  | $ | 183,433 |  |  | $ | (250 | ) |  | $ | — |  |  | $ | — |  |  | $ | 183,433 |  |  | $ | (250 | )
As of January 31, 2015 and 2014, there were a total of 172 and 219 securities with unrealized loss positions within the Company’s portfolio, respectively.

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