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Marketable Securities | 12 Months Ended
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Jan. 31, 2017
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 values of available-for-sale securities by major security type and class of security as of January 31, 2017 and 2016 are as follows:
|  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized (Losses) |  |  | Fair Value |
As of January 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term Investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 59,403 |  |  | $ | 7 |  |  | $ | (90 | ) |  | $ | 59,320 |
Municipal and pre-refunded municipal bonds |  |  | 51,731 |  |  |  | 28 |  |  |  | (12 | ) |  |  | 51,747 |
|  |  | 111,134 |  |  |  | 35 |  |  |  | (102 | ) |  |  | 111,067 |
Long-term Investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  |  | 19,102 |  |  |  | 9 |  |  |  | (33 | ) |  |  | 19,078 |
Municipal and pre-refunded municipal bonds |  |  | 19,488 |  |  |  | 35 |  |  |  | (9 | ) |  |  | 19,514 |
Mutual funds, held in rabbi trust |  |  | 4,583 |  |  |  | 91 |  |  |  | (1 | ) |  |  | 4,673 |
Certificates of deposit |  |  | 1,023 |  |  |  | — |  |  |  | — |  |  |  | 1,023 |
|  |  | 44,196 |  |  |  | 135 |  |  |  | (43 | ) |  |  | 44,288 |
|  | $ | 155,330 |  |  | $ | 170 |  |  | $ | (145 | ) |  | $ | 155,355 |
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 |
Proceeds from the sales and maturities of available-for-sale securities were $243,159, $374,057 and $830,297 in fiscal 2017, 2016 and 2015, respectively. The Company included in “Interest income,” in the Consolidated Statements of Income, a net realized loss of $83 during fiscal 2017, a net realized gain of $43 during fiscal 2016 and a net realized gain of $237 during fiscal 2015. Amortization of discounts and premiums, net, resulted in a reduction of “Interest income” of $2,200, $3,841 and $6,696 for fiscal years 2017, 2016 and 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 “Interest income” in the Consolidated Statements of 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, 2017 and January 31, 2016, respectively.
|  | January 31, 2017 |
|  | 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 |  | $ | 61,612 |  |  | $ | (123 | ) |  | $ | — |  |  | $ | — |  |  | $ | 61,612 |  |  | $ | (123 | )
Municipal and pre-refunded municipal bonds |  |  | 18,713 |  |  |  | (21 | ) |  |  | — |  |  |  | — |  |  |  | 18,713 |  |  |  | (21 | )
Mutual funds, held in rabbi trust |  |  | 316 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | 316 |  |  |  | (1 | )
Total |  | $ | 80,641 |  |  | $ | (145 | ) |  | $ | — |  |  | $ | — |  |  | $ | 80,641 |  |  | $ | (145 | )
|  | January 31, 2016 |
|  | 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 |  | $ | 30,745 |  |  | $ | (54 | ) |  | $ | 1,098 |  |  | $ | (6 | ) |  | $ | 31,843 |  |  | $ | (60 | )
Municipal and pre-refunded municipal bonds |  |  | 997 |  |  |  | (2 | ) |  |  | 434 |  |  |  | — |  |  |  | 1,431 |  |  |  | (2 | )
Mutual funds, held in rabbi trust |  |  | 4,363 |  |  |  | (247 | ) |  |  | — |  |  |  | — |  |  |  | 4,363 |  |  |  | (247 | )
Total |  | $ | 36,105 |  |  | $ | (303 | ) |  | $ | 1,532 |  |  | $ | (6 | ) |  | $ | 37,637 |  |  | $ | (309 | )
As of January 31, 2017 and 2016, there were a total of 206 and 84 securities with unrealized loss positions within the Company’s portfolio, respectively.

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