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Marketable Securities
 3 Months Ended
Apr. 30, 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 value of available-for-sale securities by major security type and class of security as of April 30, 2015, January 31, 2015 and April 30, 2014 were as follows:

 

     Amortized
Cost		      Unrealized
Gains		      Unrealized
(Losses)		     Fair
Value		  

As of April 30, 2015

           

Short-term Investments:

           

Municipal and pre-refunded municipal bonds

    $ 40,287       $ 42       $ (2 )    $ 40,327   

Corporate bonds

      43,923         12         (28 )      43,907   

Treasury bills

      3,018         2         —          3,020   

Certificates of deposit

      5,426         1         —          5,427   

Commercial paper

      3,942         3         —          3,945   
  

 

 

     

 

 

     

 

 

    

 

 

  
  96,596      60      (30 )    96,626   
  

 

 

     

 

 

     

 

 

    

 

 

  

Long-term Investments:

Municipal and pre-refunded municipal bonds

   46,529      78      (10 )    46,597   

Corporate bonds

   20,652      8      (30 )    20,630   

Treasury bills

   8,067      3      (1 )    8,069   

Certificates of deposit

   2,566      —        —        2,566   

Mutual funds, held in rabbi trust

   4,670      40      (24 )    4,686   

Federal government agencies

   799      1      —        800   
  

 

 

     

 

 

     

 

 

    

 

 

  
  83,283      130      (65 )    83,348   
  

 

 

     

 

 

     

 

 

    

 

 

  
$ 179,879    $ 190    $ (95 )  $ 179,974   
  

 

 

     

 

 

     

 

 

    

 

 

  

As of January 31, 2015

Short-term Investments:

Municipal and pre-refunded municipal bonds

 $ 30,509    $ 41    $ (2 )  $ 30,548   

Corporate bonds

   56,594      20      (24 )    56,590   

Treasury bills

   2,033      3      —        2,036   

Certificates of deposit

   11,127      5      —        11,132   

Commercial paper

   3,938      2      —        3,940   
  

 

 

     

 

 

     

 

 

    

 

 

  
  104,201      71      (26 )    104,246   
  

 

 

     

 

 

     

 

 

    

 

 

  

Long-term Investments:

Municipal and pre-refunded municipal bonds

   42,840      113      (6 )    42,947   

Corporate bonds

   46,754      22      (40 )    46,736   

Treasury bills

   7,111      9      —        7,120   

Certificates of deposit

   3,066      —        —        3,066   

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 April 30, 2014

Short-term Investments:

Municipal and pre-refunded municipal bonds

 $ 44,522    $ 41    $ —      $ 44,563   

Corporate bonds

   54,678      30      (17 )    54,691   

Treasury bills

   2,498      3      —        2,501   

Certificates of deposit

   23,348      10      (1 )    23,357   

Commercial paper

   24,678      6      —        24,684   
  

 

 

     

 

 

     

 

 

    

 

 

  
  149,724      90      (18 )    149,796   
  

 

 

     

 

 

     

 

 

    

 

 

  

Long-term Investments:

Municipal and pre-refunded municipal bonds

   68,511      178      (14 )    68,675   

Corporate bonds

   85,583      168      (31 )    85,720   

Treasury bills

   15,404      9      —        15,413   

Certificates of deposit

   1,499      1      —        1,500   

Mutual funds, held in rabbi trust

   2,579      33      (12 )    2,600   

Federal government agencies

   1,782      4      —        1,786   
  

 

 

     

 

 

     

 

 

    

 

 

  
  175,358      393      (57 )    175,694   
  

 

 

     

 

 

     

 

 

    

 

 

  
$ 325,082    $ 483    $ (75 )  $ 325,490   
  

 

 

     

 

 

     

 

 

    

 

 

  

 

Proceeds from the sale and maturities of available-for-sale securities were $80,942 and $485,375 for the three months ended April 30, 2015 and 2014, respectively. The Company included in “Other expense, net,” realized gains of $3 and $70 and a net charge related to amortization of discounts and premiums of $1,116 and $2,607 for the three months ended April 30, 2015 and 2014, 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).