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Marketable Securities
 6 Months Ended
Jul. 31, 2017
Investments Debt And Equity Securities [Abstract]  
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 July 31, 2017, January 31, 2017 and July 31, 2016 were as follows:

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Value

 

As of July 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

72,805

 

 

$

4

 

 

$

(61

)

 

$

72,748

 

Municipal and pre-refunded municipal bonds

 

 

36,630

 

 

 

15

 

 

 

(13

)

 

 

36,632

 

Certificates of deposit

 

 

815

 

 

 

—

 

 

 

—

 

 

 

815

 

 

 

 

110,250

 

 

 

19

 

 

 

(74

)

 

 

110,195

 

Long-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

14,906

 

 

 

—

 

 

 

(22

)

 

 

14,884

 

Municipal and pre-refunded municipal bonds

 

 

3,057

 

 

 

9

 

 

 

(2

)

 

 

3,064

 

Mutual funds, held in rabbi trust

 

 

5,183

 

 

 

103

 

 

 

—

 

 

 

5,286

 

Certificates of deposit

 

 

2,726

 

 

 

—

 

 

 

—

 

 

 

2,726

 

 

 

 

25,872

 

 

 

112

 

 

 

(24

)

 

 

25,960

 

 

 

$

136,122

 

 

$

131

 

 

$

(98

)

 

$

136,155

 

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 July 31, 2016

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

23,658

 

 

$

8

 

 

$

(24

)

 

$

23,642

 

Municipal and pre-refunded municipal bonds

 

 

34,720

 

 

 

43

 

 

 

(4

)

 

 

34,759

 

Certificates of deposit

 

 

830

 

 

 

—

 

 

 

—

 

 

 

830

 

 

 

 

59,208

 

 

 

51

 

 

 

(28

)

 

 

59,231

 

Long-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

8,958

 

 

 

8

 

 

 

(9

)

 

 

8,957

 

Municipal and pre-refunded municipal bonds

 

 

12,191

 

 

 

29

 

 

 

(1

)

 

 

12,219

 

Mutual funds, held in rabbi trust

 

 

4,156

 

 

 

153

 

 

 

—

 

 

 

4,309

 

Certificates of deposit

 

 

515

 

 

 

—

 

 

 

—

 

 

 

515

 

 

 

 

25,820

 

 

 

190

 

 

 

(10

)

 

 

26,000

 

 

 

$

85,028

 

 

$

241

 

 

$

(38

)

 

$

85,231

 

 

Proceeds from the sales and maturities of available-for-sale securities were $152,838 and $109,357 for the six months ended July 31, 2017 and 2016, respectively. The Company included in “Other income (expense), net,” in the Condensed Consolidated Statements of Income, net realized losses of $23 and $9 for the three and six months ended July 31, 2017, respectively, and net realized gains of $9 and $22 for the three and six months ended July 31, 2016, respectively. Amortization of discounts and premiums, net, resulted in a reduction of “Other income (expense), net” of $725 and $1,528 for the three and six months ended July 31, 2017, and $567 and $1,161 for the three and six months ended July 31, 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.