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Marketable Securities
 9 Months Ended
Oct. 31, 2016
Marketable Securities

4. 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, 2016, January 31, 2016 and October 31, 2015 were as follows:

 

     Amortized
Cost		      Unrealized
Gains		      Unrealized
(Losses)		     Fair
Value		  

As of October 31, 2016

           

Short-term Investments:

           

Corporate bonds

    $ 17,809       $ 1       $ (19 )    $ 17,791   

Municipal and pre-refunded municipal bonds

      6,859         —           (6 )      6,853   

Certificates of deposit

      —           —           —          —     
  

 

 

     

 

 

     

 

 

    

 

 

  
     24,668         1         (25 )      24,644   
  

 

 

     

 

 

     

 

 

    

 

 

  

Long-term Investments:

           

Corporate bonds

      222         1         —          223   

Municipal and pre-refunded municipal bonds

      307         —           —          307   

Mutual funds, held in rabbi trust

      4,544         —           (97 )      4,447   

Certificates of deposit

      628         —           —          628   
  

 

 

     

 

 

     

 

 

    

 

 

  
     5,701         1         (97 )      5,605   
  

 

 

     

 

 

     

 

 

    

 

 

  
   $ 30,369       $ 2       $ (122 )    $ 30,249   
  

 

 

     

 

 

     

 

 

    

 

 

  

 

     Amortized
Cost		      Unrealized
Gains		      Unrealized
(Losses)		     Fair
Value		  

As of January 31, 2016

           

Short-term Investments:

           

Corporate bonds

    $ 33,885       $ 10       $ (25 )    $ 33,870   

Municipal and pre-refunded municipal bonds

      26,243         33         —          26,276   

Certificates of deposit

      915         —           —          915   
  

 

 

     

 

 

     

 

 

    

 

 

  
     61,043         43         (25 )      61,061   
  

 

 

     

 

 

     

 

 

    

 

 

  

Long-term Investments:

           

Corporate bonds

      12,227         9         (35 )      12,201   

Municipal and pre-refunded municipal bonds

      18,028         58         (2 )      18,084   

Mutual funds, held in rabbi trust

      4,604         6         (247 )      4,363   

Certificates of deposit

      1,952         —           —          1,952   
  

 

 

     

 

 

     

 

 

    

 

 

  
     36,811         73         (284 )      36,600   
  

 

 

     

 

 

     

 

 

    

 

 

  
   $ 97,854       $ 116       $ (309 )    $ 97,661   
  

 

 

     

 

 

     

 

 

    

 

 

  

 

     Amortized
Cost		      Unrealized
Gains		      Unrealized
(Losses)		     Fair
Value		  

As of October 31, 2015

           

Short-term Investments:

           

Corporate bonds

    $ 37,260       $ 4       $ (45 )    $ 37,219   

Municipal and pre-refunded municipal bonds

      31,100         46         (1 )      31,145   

Certificates of deposit

      1,181         —           —          1,181   
  

 

 

     

 

 

     

 

 

    

 

 

  
     69,541         50         (46 )      69,545   
  

 

 

     

 

 

     

 

 

    

 

 

  

Long-term Investments:

           

Corporate bonds

      15,210         7         (28 )      15,189   

Municipal and pre-refunded municipal bonds

      30,265         115         (2 )      30,378   

Mutual funds, held in rabbi trust

      4,840         272         (1 )      5,111   

Certificates of deposit

      3,460         —           —          3,460   
  

 

 

     

 

 

     

 

 

    

 

 

  
     53,775         394         (31 )      54,138   
  

 

 

     

 

 

     

 

 

    

 

 

  
   $ 123,316       $ 444       $ (77 )    $ 123,683   
  

 

 

     

 

 

     

 

 

    

 

 

  

Proceeds from the sales and maturities of available-for-sale securities were $218,400 and $296,172 for the nine months ended October 31, 2016 and 2015, respectively. The Company included in “Other income (expense), net” in the Condensed Consolidated Statements of Income net realized losses of $96 and $74 for the three and nine months ended October 31, 2016, respectively, and net realized gains of $11 and $53 for the three and nine months ended October 31, 2015, respectively. Amortization of discounts and premiums, net, resulted in a reduction of “Other income (expense), net” of $550 and $1,711 for the three and nine months ended October 31, 2016, and $997 and $3,155 for the three and nine months ended October 31, 2015, 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 income (expense), net” in the Condensed Consolidated Statements of Income.