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Marketable Securities
 6 Months Ended
Jul. 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 value of available-for-sale securities by major security type and class of security as of July 31, 2015, January 31, 2015 and July 31, 2014 were as follows:

 

     Amortized
Cost		      Unrealized
Gains		      Unrealized
(Losses)		     Fair
Value		  

As of July 31, 2015

           

Short-term Investments:

           

Municipal and pre-refunded municipal bonds

    $ 31,983       $ 43       $ (1 )    $ 32,025   

Corporate bonds

      37,961         1         (60 )      37,902   

Certificates of deposit

      1,999         —           —          1,999   
  

 

 

     

 

 

     

 

 

    

 

 

  
     71,943         44         (61 )      71,926   
  

 

 

     

 

 

     

 

 

    

 

 

  

Long-term Investments:

           

Municipal and pre-refunded municipal bonds

      45,405         110         (6 )      45,509   

Corporate bonds

      17,835         1         (39 )      17,797   

Certificates of deposit

      4,436         —           —          4,436   

Mutual funds, held in rabbi trust

      4,964         66         (8 )      5,022   
  

 

 

     

 

 

     

 

 

    

 

 

  
     72,640         177         (53 )      72,764   
  

 

 

     

 

 

     

 

 

    

 

 

  
   $ 144,583       $ 221       $ (114 )    $ 144,690   
  

 

 

     

 

 

     

 

 

    

 

 

  

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   

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:

           

Municipal and pre-refunded municipal bonds

      42,840         113         (6 )      42,947   

Corporate bonds

      46,754         22         (40 )      46,736   

Certificates of deposit

      3,066         —           —          3,066   

Mutual funds, held in rabbi trust

      3,816         16         (54 )      3,778   

Treasury bills

      7,111         9         —          7,120   

Federal government agencies

      799         2         —          801   
  

 

 

     

 

 

     

 

 

    

 

 

  
     104,386         162         (100 )      104,448   
  

 

 

     

 

 

     

 

 

    

 

 

  
   $ 208,587       $ 233       $ (126 )    $ 208,694   
  

 

 

     

 

 

     

 

 

    

 

 

  

As of July 31, 2014

           

Short-term Investments:

           

Municipal and pre-refunded municipal bonds

    $ 29,022       $ 29       $ (1 )    $ 29,050   

Corporate bonds

      55,849         50         (15 )      55,884   

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:

           

Municipal and pre-refunded municipal bonds

      45,387         107         (18 )      45,476   

Corporate bonds

      93,086         96         (143 )      93,039   

Certificates of deposit

      2,493         —           —          2,493   

Mutual funds, held in rabbi trust

      3,026         68         (5 )      3,089   

Treasury bills

      11,264         5         —          11,269   

Federal government agencies

      1,777         3         —          1,780   
  

 

 

     

 

 

     

 

 

    

 

 

  
     157,033         279         (166 )      157,146   
  

 

 

     

 

 

     

 

 

    

 

 

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

 

 

     

 

 

     

 

 

    

 

 

  

 

Proceeds from the sales and maturities of available-for-sale securities were $213,930 and $631,950 for the six months ended July 31, 2015 and 2014, respectively. The Company included in “Other expense, net,” realized gains of $39 and $42 for the three and six months ended July 31, 2015, respectively, and realized gains of $101 and $171 for the three and six months ended July 31, 2014, respectively. Amortization of discounts and premiums, net, resulted in charges of $1,042 and $2,158 for the three and six months ended July 31, 2015, respectively, and $1,499 and $4,106 for the three and six months ended July 31, 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).