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Marketable Securities
 6 Months Ended
Jul. 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 value of available-for-sale securities by major security type and class of security as of July 31, 2019, January 31, 2019 and July 31, 2018 were as follows:

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Value

 

As of July 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

125,943

 

 

$

190

 

 

$

(31

)

 

$

126,102

 

Municipal and pre-refunded municipal bonds

 

 

42,023

 

 

 

40

 

 

 

(9

)

 

 

42,054

 

Certificates of deposit

 

 

1,745

 

 

 

—

 

 

 

—

 

 

 

1,745

 

Federal government agencies

 

 

1,495

 

 

 

2

 

 

 

—

 

 

 

1,497

 

 

 

 

171,206

 

 

 

232

 

 

 

(40

)

 

 

171,398

 

Long-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

49,385

 

 

 

174

 

 

 

(33

)

 

 

49,526

 

Municipal and pre-refunded municipal bonds

 

 

19,526

 

 

 

6

 

 

 

(50

)

 

 

19,482

 

Mutual funds, held in rabbi trust

 

 

7,826

 

 

 

56

 

 

 

(7

)

 

 

7,875

 

Certificates of deposit

 

 

1,847

 

 

 

—

 

 

 

—

 

 

 

1,847

 

Federal government agencies

 

 

126

 

 

 

1

 

 

 

—

 

 

 

127

 

 

 

 

78,710

 

 

 

237

 

 

 

(90

)

 

 

78,857

 

 

 

$

249,916

 

 

$

469

 

 

$

(130

)

 

$

250,255

 

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

 

Certificates of deposit

 

 

1,050

 

 

 

—

 

 

 

—

 

 

 

1,050

 

Federal government agencies

 

 

1,458

 

 

 

—

 

 

 

—

 

 

 

1,458

 

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

 

Certificates of deposit

 

 

2,143

 

 

 

—

 

 

 

—

 

 

 

2,143

 

Federal government agencies

 

 

6,603

 

 

 

2

 

 

 

(1

)

 

 

6,604

 

 

 

 

56,866

 

 

 

493

 

 

 

(67

)

 

 

57,292

 

 

 

$

336,292

 

 

$

532

 

 

$

(300

)

 

$

336,524

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Value

 

As of July 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

150,648

 

 

$

—

 

 

$

(261

)

 

$

150,387

 

Municipal and pre-refunded municipal bonds

 

 

46,904

 

 

 

10

 

 

 

(43

)

 

 

46,871

 

Certificates of deposit

 

 

908

 

 

 

—

 

 

 

—

 

 

 

908

 

 

 

 

198,460

 

 

 

10

 

 

 

(304

)

 

 

198,166

 

Long-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

34,333

 

 

 

—

 

 

 

(213

)

 

 

34,120

 

Municipal and pre-refunded municipal bonds

 

 

2,130

 

 

 

1

 

 

 

(7

)

 

 

2,124

 

Mutual funds, held in rabbi trust

 

 

6,401

 

 

 

171

 

 

 

(1

)

 

 

6,571

 

Certificates of deposit

 

 

2,699

 

 

 

—

 

 

 

—

 

 

 

2,699

 

 

 

 

45,563

 

 

 

172

 

 

 

(221

)

 

 

45,514

 

 

 

$

244,023

 

 

$

182

 

 

$

(525

)

 

$

243,680

 

 

Proceeds from the sales and maturities of available-for-sale securities were $320,411 and $130,029 for the six months ended July 31, 2019 and 2018, respectively. The Company included in “Other income, net,” in the Condensed Consolidated Statements of Income, net realized gains of $19 and $26 for the three and six months ended July 31, 2019, respectively, and net realized losses of $0 and $13 for the three and six months ended July 31, 2018, respectively. Amortization of discounts and premiums, net, resulted in a reduction of “Other income, net” of $152 and $271 for the three and six months ended July 31, 2019, respectively, and $517 and $1,151 for the three and six months ended July 31, 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.