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Marketable Securities
 3 Months Ended
Apr. 30, 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 value of available-for-sale securities by major security type and class of security as of April 30, 2017, January 31, 2017 and April 30, 2016 were as follows:

 

     Amortized
Cost		      Unrealized
Gains		      Unrealized
(Losses)		     Fair
Value		  

As of April 30, 2017

           

Short-term Investments:

           

Corporate bonds

    $ 77,313      $ 4      $ (58 )    $ 77,259  

Municipal and pre-refunded municipal bonds

      40,788        24        (3 )      40,809  

Certificates of deposit

      425        —          —         425  
  

 

 

     

 

 

     

 

 

    

 

 

  
     118,526        28        (61 )      118,493  
  

 

 

     

 

 

     

 

 

    

 

 

  

Long-term Investments:

           

Corporate bonds

      27,586        3        (36 )      27,553  

Municipal and pre-refunded municipal bonds

      4,758        17        —         4,775  

Mutual funds, held in rabbi trust

      5,011        62        (1 )      5,072  

Certificates of deposit

      1,051        —          —         1,051  
  

 

 

     

 

 

     

 

 

    

 

 

  
     38,406        82        (37 )      38,451  
  

 

 

     

 

 

     

 

 

    

 

 

  
   $ 156,932      $ 110      $ (98 )    $ 156,944  
  

 

 

     

 

 

     

 

 

    

 

 

  

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  
  

 

 

     

 

 

     

 

 

    

 

 

  

 

     Amortized
Cost		      Unrealized
Gains		      Unrealized
(Losses)		     Fair
Value		  

As of April 30, 2016

           

Short-term Investments:

           

Corporate bonds

    $ 18,972      $ 5      $ (7 )    $ 18,970  

Municipal and pre-refunded municipal bonds

      40,569        27        (2 )      40,594  
  

 

 

     

 

 

     

 

 

    

 

 

  
     59,541        32        (9 )      59,564  
  

 

 

     

 

 

     

 

 

    

 

 

  

Long-term Investments:

           

Corporate bonds

      5,356        2        (10 )      5,348  

Municipal and pre-refunded municipal bonds

      9,060        20        (1 )      9,079  

Mutual funds, held in rabbi trust

      3,907        30        (3 )      3,934  

Certificates of deposit

      349        —          —         349  
  

 

 

     

 

 

     

 

 

    

 

 

  
     18,672        52        (14 )      18,710  
  

 

 

     

 

 

     

 

 

    

 

 

  
   $ 78,213      $ 84      $ (23 )    $ 78,274  
  

 

 

     

 

 

     

 

 

    

 

 

  

Proceeds from the sales and maturities of available-for-sale securities were $64,903 and $57,219 for the three months ended April 30, 2017 and 2016, respectively. The Company included in “Other income (expense), net,” in the Condensed Consolidated Statements of Income, net realized gains of $14 and $13 for the three months ended April 30, 2017 and 2016, respectively. Amortization of discounts and premiums, net, resulted in a reduction of “Other income (expense), net” of $803 and $594 for the three months ended April 30, 2017 and 2016, 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.