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Marketable Securities | 12 Months Ended
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Jan. 31, 2019
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 values of available-for-sale securities by major security type and class of security as of January 31, 2019 and 2018 are as follows:
|  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized (Losses) |  |  | Fair Value |
As of January 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term Investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 227,287 |  |  | $ | 24 |  |  | $ | (214 | ) |  | $ | 227,097 |
Municipal and pre-refunded municipal bonds |  |  | 43,677 |  |  |  | 15 |  |  |  | (18 | ) |  |  | 43,674 |
Federal government agencies |  |  | 1,458 |  |  |  | — |  |  |  | — |  |  |  | 1,458 |
Certificate of deposit |  |  | 1,050 |  |  |  | — |  |  |  | — |  |  |  | 1,050 |
Commercial paper |  |  | 2,979 |  |  |  | — |  |  |  | — |  |  |  | 2,979 |
Treasury bills |  |  | 2,975 |  |  |  | — |  |  |  | (1 | ) |  |  | 2,974 |
|  |  | 279,426 |  |  |  | 39 |  |  |  | (233 | ) |  |  | 279,232 |
Long-term Investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  |  | 34,265 |  |  |  | 34 |  |  |  | (63 | ) |  |  | 34,236 |
Municipal and pre-refunded municipal bonds |  |  | 7,554 |  |  |  | 7 |  |  |  | (3 | ) |  |  | 7,558 |
Federal government agencies |  |  | 6,603 |  |  |  | 2 |  |  |  | (1 | ) |  |  | 6,604 |
Mutual funds, held in rabbi trust |  |  | 6,301 |  |  |  | 450 |  |  |  | — |  |  |  | 6,751 |
Certificates of deposit |  |  | 2,143 |  |  |  | — |  |  |  | — |  |  |  | 2,143 |
|  |  | 56,866 |  |  |  | 493 |  |  |  | (67 | ) |  |  | 57,292 |
|  | $ | 336,292 |  |  | $ | 532 |  |  | $ | (300 | ) |  | $ | 336,524 |
As of January 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Short-term Investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 111,612 |  |  | $ | — |  |  | $ | (184 | ) |  | $ | 111,428 |
Municipal and pre-refunded municipal bonds |  |  | 52,474 |  |  |  | 11 |  |  |  | (39 | ) |  |  | 52,446 |
Certificates of deposit |  |  | 1,251 |  |  |  | — |  |  |  | — |  |  |  | 1,251 |
|  |  | 165,337 |  |  |  | 11 |  |  |  | (223 | ) |  |  | 165,125 |
Long-term Investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  |  | 39,853 |  |  |  | — |  |  |  | (228 | ) |  |  | 39,625 |
Municipal and pre-refunded municipal bonds |  |  | 9,873 |  |  |  | 8 |  |  |  | (24 | ) |  |  | 9,857 |
Mutual funds, held in rabbi trust |  |  | 5,973 |  |  |  | 274 |  |  |  | (10 | ) |  |  | 6,237 |
Certificates of deposit |  |  | 2,969 |  |  |  | — |  |  |  | — |  |  |  | 2,969 |
|  |  | 58,668 |  |  |  | 282 |  |  |  | (262 | ) |  |  | 58,688 |
|  | $ | 224,005 |  |  | $ | 293 |  |  | $ | (485 | ) |  | $ | 223,813 |
Proceeds from the sales and maturities of available-for-sale securities were $267,072, $243,818 and $243,159 in fiscal 2019, 2018 and 2017, respectively. The Company included in “Interest income,” in the Consolidated Statements of Income, net realized losses of $22, $35 and $83 during fiscal 2019, 2018 and 2017, respectively. Amortization of discounts and premiums, net, resulted in a reduction of “Interest income” of $1,695, $2,588 and $2,200 for fiscal 2019, 2018 and 2017, 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, 2019 and 2018, respectively.
| January 31, 2019 |
| 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 | $ | 177,932 |  |  | $ | (160 | ) |  | $ | 38,201 |  |  | $ | (117 | ) |  | $ | 216,133 |  |  | $ | (277 | )
Municipal and pre-refunded municipal bonds |  | 20,732 |  |  |  | (13 | ) |  |  | 4,907 |  |  |  | (8 | ) |  |  | 25,639 |  |  |  | (21 | )
Federal government agencies |  | 3,315 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | 3,315 |  |  |  | (1 | )
Treasury bills |  | 2,974 |  |  |  | (1 | ) |  |  | — |  |  |  | — |  |  |  | 2,974 |  |  |  | (1 | )
Total | $ | 204,953 |  |  | $ | (175 | ) |  | $ | 43,108 |  |  | $ | (125 | ) |  | $ | 248,061 |  |  | $ | (300 | )
| January 31, 2018 |
| 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 | $ | 151,053 |  |  | $ | (412 | ) |  | $ | — |  |  | $ | — |  |  | $ | 151,053 |  |  | $ | (412 | )
Municipal and pre-refunded municipal bonds |  | 39,671 |  |  |  | (63 | ) |  |  | — |  |  |  | — |  |  |  | 39,671 |  |  |  | (63 | )
Mutual funds, held in rabbi trust |  | 474 |  |  |  | (10 | ) |  |  | — |  |  |  | — |  |  |  | 474 |  |  |  | (10 | )
Total | $ | 191,198 |  |  | $ | (485 | ) |  | $ | — |  |  | $ | — |  |  | $ | 191,198 |  |  | $ | (485 | )
As of January 31, 2019 and 2018, there were a total of 362 and 336 securities with unrealized loss positions within the Company’s portfolio, respectively.

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