XML 48 R11.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Marketable Securities
 9 Months Ended
Oct. 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 October 31, 2019, January 31, 2019 and October 31, 2018 were as follows:

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Value

 

As of October 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

125,040

 

 

$

310

 

 

$

(12

)

 

$

125,338

 

Municipal and pre-refunded municipal bonds

 

 

39,256

 

 

 

38

 

 

 

(14

)

 

 

39,280

 

Federal government agencies

 

 

1,622

 

 

 

4

 

 

 

—

 

 

 

1,626

 

Certificates of deposit

 

 

2,466

 

 

 

—

 

 

 

—

 

 

 

2,466

 

Commercial paper

 

 

1,987

 

 

 

—

 

 

 

—

 

 

 

1,987

 

 

 

 

170,371

 

 

 

352

 

 

 

(26

)

 

 

170,697

 

Long-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

45,556

 

 

 

270

 

 

 

(26

)

 

 

45,800

 

Municipal and pre-refunded municipal bonds

 

 

20,795

 

 

 

13

 

 

 

(35

)

 

 

20,773

 

Federal government agencies

 

 

6,365

 

 

 

—

 

 

 

(15

)

 

 

6,350

 

Mutual funds, held in rabbi trust

 

 

7,661

 

 

 

144

 

 

 

(1

)

 

 

7,804

 

Certificates of deposit

 

 

2,394

 

 

 

—

 

 

 

—

 

 

 

2,394

 

 

 

 

82,771

 

 

 

427

 

 

 

(77

)

 

 

83,121

 

 

 

$

253,142

 

 

$

779

 

 

$

(103

)

 

$

253,818

 

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

 

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

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Value

 

As of October 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

200,910

 

 

$

—

 

 

$

(466

)

 

$

200,444

 

Municipal and pre-refunded municipal bonds

 

 

33,291

 

 

 

—

 

 

 

(59

)

 

 

33,232

 

Certificates of deposit

 

 

755

 

 

 

—

 

 

 

—

 

 

 

755

 

Commercial paper

 

 

2,960

 

 

 

—

 

 

 

—

 

 

 

2,960

 

 

 

 

237,916

 

 

 

—

 

 

 

(525

)

 

 

237,391

 

Long-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

24,793

 

 

 

—

 

 

 

(175

)

 

 

24,618

 

Municipal and pre-refunded municipal bonds

 

 

2,573

 

 

 

—

 

 

 

(7

)

 

 

2,566

 

Mutual funds, held in rabbi trust

 

 

6,932

 

 

 

—

 

 

 

(473

)

 

 

6,459

 

Certificates of deposit

 

 

2,390

 

 

 

—

 

 

 

—

 

 

 

2,390

 

 

 

 

36,688

 

 

 

—

 

 

 

(655

)

 

 

36,033

 

 

 

$

274,604

 

 

$

—

 

 

$

(1,180

)

 

$

273,424

 

 

Proceeds from the sales and maturities of available-for-sale securities were $382,629 and $211,174 for the nine months ended October 31, 2019 and 2018, respectively. The Company included in “Other income, net,” in the Condensed Consolidated Statements of Income, net realized gains of $6 and $32 for the three and nine months ended October 31, 2019, respectively, and net realized losses of $3 and $16 for the three and nine months ended October 31, 2018, respectively. Amortization of discounts and premiums, net, resulted in a reduction of “Other income, net” of $156 and $427 for the three and nine months ended October 31, 2019, respectively, and $328 and $1,479 for the three and nine months ended October 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.