Marketable Securities

9 Months Ended

Oct. 31, 2017

Investments Debt And Equity Securities [Abstract]

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, 2017, January 31, 2017 and October 31, 2016 were as follows:

	Amortized		Unrealized		Unrealized			Fair
	Cost		Gains		(Losses)			Value
As of October 31, 2017
Short-term Investments:
Corporate bonds	$	67,275	$	2	$	(71	)	$	67,206
Municipal and pre-refunded municipal bonds		24,676		4		(14	)		24,666
Certificates of deposit		1,356		—		—			1,356
		93,307		6		(85	)		93,228
Long-term Investments:
Corporate bonds		30,051		2		(87	)		29,966
Municipal and pre-refunded municipal bonds		1,362		—		(2	)		1,360
Mutual funds, held in rabbi trust		5,639		109		(2	)		5,746
Certificates of deposit		4,182		—		—			4,182
		41,234		111		(91	)		41,254
	$	134,541	$	117	$	(176	)	$	134,482
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 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
		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

Proceeds from the sales and maturities of available-for-sale securities were $209,937 and $218,400 for the nine months ended October 31, 2017 and 2016, respectively. The Company included in “Other (expense) income, net,” in the Condensed Consolidated Statements of Income, net realized losses of $2 and $11 for the three and nine months ended October 31, 2017, respectively, and net realized losses of $96 and $74 for the three and nine months ended October 31, 2016, respectively. Amortization of discounts and premiums, net, resulted in a reduction of “Other (expense) income, net” of $538 and $2,066 for the three and nine months ended October 31, 2017, and $550 and $1,711 for the three and nine months ended October 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 (expense) income, net” in the Condensed Consolidated Statements of Income.