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Marketable Securities
 3 Months Ended
Apr. 30, 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 value of available-for-sale securities by major security type and class of security as of April 30, 2019, January 31, 2019 and April 30, 2018 were as follows:

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Value

 

As of April 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

169,627

 

 

$

72

 

 

$

(70

)

 

$

169,629

 

Municipal and pre-refunded municipal bonds

 

 

52,131

 

 

 

23

 

 

 

(6

)

 

 

52,148

 

Federal government agencies

 

 

2,735

 

 

 

4

 

 

 

—

 

 

 

2,739

 

Certificates of deposit

 

 

1,650

 

 

 

—

 

 

 

—

 

 

 

1,650

 

Commercial paper

 

 

2,997

 

 

 

—

 

 

 

—

 

 

 

2,997

 

 

 

 

229,140

 

 

 

99

 

 

 

(76

)

 

 

229,163

 

Long-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

71,105

 

 

 

95

 

 

 

(46

)

 

 

71,154

 

Municipal and pre-refunded municipal bonds

 

 

11,035

 

 

 

11

 

 

 

(8

)

 

 

11,038

 

Mutual funds, held in rabbi trust

 

 

7,733

 

 

 

208

 

 

 

 

 

 

 

7,941

 

Federal government agencies

 

 

2,351

 

 

 

7

 

 

 

—

 

 

 

2,358

 

Certificates of deposit

 

 

1,403

 

 

 

—

 

 

 

—

 

 

 

1,403

 

 

 

 

93,627

 

 

 

321

 

 

 

(54

)

 

 

93,894

 

 

 

$

322,767

 

 

$

420

 

 

$

(130

)

 

$

323,057

 

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

 

Certificates 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

 

Mutual funds, held in rabbi trust

 

 

6,301

 

 

 

450

 

 

 

—

 

 

 

6,751

 

Federal government agencies

 

 

6,603

 

 

 

2

 

 

 

(1

)

 

 

6,604

 

Certificates of deposit

 

 

2,143

 

 

 

—

 

 

 

—

 

 

 

2,143

 

 

 

 

56,866

 

 

 

493

 

 

 

(67

)

 

 

57,292

 

 

 

$

336,292

 

 

$

532

 

 

$

(300

)

 

$

336,524

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Value

 

As of April 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

110,657

 

 

$

—

 

 

$

(294

)

 

$

110,363

 

Municipal and pre-refunded municipal bonds

 

 

54,659

 

 

 

—

 

 

 

(47

)

 

 

54,612

 

Certificates of deposit

 

 

1,392

 

 

 

—

 

 

 

—

 

 

 

1,392

 

 

 

 

166,708

 

 

 

—

 

 

 

(341

)

 

 

166,367

 

Long-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

18,137

 

 

 

—

 

 

 

(212

)

 

 

17,925

 

Municipal and pre-refunded municipal bonds

 

 

7,873

 

 

 

—

 

 

 

(30

)

 

 

7,843

 

Mutual funds, held in rabbi trust

 

 

6,453

 

 

 

33

 

 

 

(3

)

 

 

6,483

 

Certificates of deposit

 

 

2,828

 

 

 

—

 

 

 

—

 

 

 

2,828

 

 

 

 

35,291

 

 

 

33

 

 

 

(245

)

 

 

35,079

 

 

 

$

201,999

 

 

$

33

 

 

$

(586

)

 

$

201,446

 

 

Proceeds from the sales and maturities of available-for-sale securities were $151,761 and $57,400 for the three months ended April 30, 2019 and 2018, respectively. The Company included in “Other income, net,” in the Condensed Consolidated Statements of Income, a net realized gain of $7 for the three months ended April 30, 2019, and a net realized loss of $13 for the three months ended April 30, 2018. Amortization of discounts and premiums, net, resulted in a reduction of “Other income, net” of $119 and $634 for the three months ended April 30, 2019 and 2018, 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, net” in the Condensed Consolidated Statements of Income.