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Marketable Securities
 9 Months Ended
Oct. 31, 2020
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, 2020, January 31, 2020 and October 31, 2019 were as follows:

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Value

 

As of October 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

2

 

 

$

—

 

 

$

—

 

 

$

2

 

 

 

 

2

 

 

 

—

 

 

 

—

 

 

 

2

 

Long-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mutual funds, held in rabbi trust

 

 

9,393

 

 

 

17

 

 

 

(144

)

 

 

9,266

 

Municipal and pre-refunded municipal bonds

 

 

53

 

 

 

1

 

 

 

—

 

 

 

54

 

Corporate bonds

 

 

30

 

 

 

—

 

 

 

—

 

 

 

30

 

 

 

 

9,476

 

 

 

18

 

 

 

(144

)

 

 

9,350

 

 

 

$

9,478

 

 

$

18

 

 

$

(144

)

 

$

9,352

 

As of January 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal and pre-refunded municipal bonds

 

$

38,617

 

 

$

20

 

 

$

(11

)

 

$

38,626

 

Corporate bonds

 

 

166,790

 

 

 

318

 

 

 

(26

)

 

 

167,082

 

Certificates of deposit

 

 

2,593

 

 

 

—

 

 

 

—

 

 

 

2,593

 

Federal government agencies

 

 

1,152

 

 

 

3

 

 

 

—

 

 

 

1,155

 

Commercial paper

 

 

1,997

 

 

 

—

 

 

 

—

 

 

 

1,997

 

 

 

 

211,149

 

 

 

341

 

 

 

(37

)

 

 

211,453

 

Long-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mutual funds, held in rabbi trust

 

 

8,448

 

 

 

36

 

 

 

(55

)

 

 

8,429

 

Municipal and pre-refunded municipal bonds

 

 

30,340

 

 

 

35

 

 

 

(17

)

 

 

30,358

 

Corporate bonds

 

 

47,352

 

 

 

205

 

 

 

(40

)

 

 

47,517

 

Certificates of deposit

 

 

3,867

 

 

 

—

 

 

 

—

 

 

 

3,867

 

Federal government agencies

 

 

6,926

 

 

 

1

 

 

 

(2

)

 

 

6,925

 

 

 

 

96,933

 

 

 

277

 

 

 

(114

)

 

 

97,096

 

 

 

$

308,082

 

 

$

618

 

 

$

(151

)

 

$

308,549

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Value

 

As of October 31, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal and pre-refunded municipal bonds

 

$

39,256

 

 

$

38

 

 

$

(14

)

 

$

39,280

 

Corporate bonds

 

 

125,040

 

 

 

310

 

 

 

(12

)

 

 

125,338

 

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:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mutual funds, held in rabbi trust

 

 

7,661

 

 

 

144

 

 

 

(1

)

 

 

7,804

 

Municipal and pre-refunded municipal bonds

 

 

20,795

 

 

 

13

 

 

 

(35

)

 

 

20,773

 

Corporate bonds

 

 

45,556

 

 

 

270

 

 

 

(26

)

 

 

45,800

 

Federal government agencies

 

 

6,365

 

 

 

—

 

 

 

(15

)

 

 

6,350

 

Certificates of deposit

 

 

2,394

 

 

 

—

 

 

 

—

 

 

 

2,394

 

 

 

 

82,771

 

 

 

427

 

 

 

(77

)

 

 

83,121

 

 

 

$

253,142

 

 

$

779

 

 

$

(103

)

 

$

253,818

 

 

Proceeds from the sales and maturities of available-for-sale securities were $384,999 and $382,629 for the nine months ended October 31, 2020 and 2019, respectively. Net liquidations of the Company’s marketable securities portfolio in the nine months ended October 31, 2020 were primarily to preserve financial flexibility and maintain liquidity in response to the coronavirus pandemic. The Company included in “Other (loss) income, net,” in the Condensed Consolidated Statements of Operations, a net realized gain of $1 and a net realized loss of $419 for the three and nine months ended October 31, 2020, respectively, and net realized gains of $6 and $32 for the three and nine months ended October 31, 2019, respectively. Amortization of discounts and premiums, net, resulted in a reduction of “Other (loss) income, net” of $201 and $818 for the three and nine months ended October 31, 2020, respectively, and $156 and $427 for the three and nine months ended October 31, 2019, 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 (loss) income, net” in the Condensed Consolidated Statements of Operations.