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Marketable Securities
 3 Months Ended
Apr. 30, 2022
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, 2022, January 31, 2022 and April 30, 2021 were as follows:

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Value

 

As of April 30, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

85,474

 

 

$

—

 

 

$

(857

)

 

$

84,617

 

Municipal and pre-refunded municipal bonds

 

 

86,134

 

 

 

—

 

 

 

(633

)

 

 

85,501

 

US Treasury securities

 

 

9,749

 

 

 

—

 

 

 

(93

)

 

 

9,656

 

Commercial paper

 

 

7,789

 

 

 

—

 

 

 

—

 

 

 

7,789

 

 

 

 

189,146

 

 

 

—

 

 

 

(1,583

)

 

 

187,563

 

Long-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

117,403

 

 

 

—

 

 

 

(4,904

)

 

 

112,499

 

Municipal and pre-refunded municipal bonds

 

 

53,928

 

 

 

—

 

 

 

(2,081

)

 

 

51,847

 

US Treasury securities

 

 

3,226

 

 

 

—

 

 

 

(138

)

 

 

3,088

 

Mutual funds, held in rabbi trust

 

 

12,393

 

 

 

—

 

 

 

(956

)

 

 

11,437

 

Federal government agencies

 

 

350

 

 

 

—

 

 

 

(12

)

 

 

338

 

Certificates of deposit

 

 

249

 

 

 

—

 

 

 

—

 

 

 

249

 

 

 

 

187,549

 

 

 

—

 

 

 

(8,091

)

 

 

179,458

 

 

 

$

376,695

 

 

$

—

 

 

$

(9,674

)

 

$

367,021

 

As of January 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

85,062

 

 

$

1

 

 

$

(200

)

 

$

84,863

 

Municipal and pre-refunded municipal bonds

 

 

128,984

 

 

 

1

 

 

 

(273

)

 

 

128,712

 

US Treasury securities

 

 

14,999

 

 

 

—

 

 

 

(38

)

 

 

14,961

 

Commercial paper

 

 

10,884

 

 

 

—

 

 

 

—

 

 

 

10,884

 

 

 

 

239,929

 

 

 

2

 

 

 

(511

)

 

 

239,420

 

Long-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

148,830

 

 

 

—

 

 

 

(2,478

)

 

 

146,352

 

Municipal and pre-refunded municipal bonds

 

 

60,533

 

 

 

1

 

 

 

(912

)

 

 

59,622

 

US Treasury securities

 

 

5,222

 

 

 

—

 

 

 

(46

)

 

 

5,176

 

Mutual funds, held in rabbi trust

 

 

12,419

 

 

 

—

 

 

 

(606

)

 

 

11,813

 

Federal government agencies

 

 

350

 

 

 

—

 

 

 

(5

)

 

 

345

 

Certificates of deposit

 

 

249

 

 

 

—

 

 

 

—

 

 

 

249

 

 

 

 

227,603

 

 

 

1

 

 

 

(4,047

)

 

 

223,557

 

 

 

$

467,532

 

 

$

3

 

 

$

(4,558

)

 

$

462,977

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Value

 

As of April 30, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

48,500

 

 

$

1

 

 

$

(49

)

 

$

48,452

 

Municipal and pre-refunded municipal bonds

 

 

106,266

 

 

 

5

 

 

 

(84

)

 

 

106,187

 

Commercial paper

 

 

9,791

 

 

 

—

 

 

 

—

 

 

 

9,791

 

 

 

 

164,557

 

 

 

6

 

 

 

(133

)

 

 

164,430

 

Long-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

48,850

 

 

 

2

 

 

 

(111

)

 

 

48,741

 

Municipal and pre-refunded municipal bonds

 

 

40,085

 

 

 

17

 

 

 

(48

)

 

 

40,054

 

Mutual funds, held in rabbi trust

 

 

11,448

 

 

 

437

 

 

 

—

 

 

 

11,885

 

 

 

 

100,383

 

 

 

456

 

 

 

(159

)

 

 

100,680

 

 

 

$

264,940

 

 

$

462

 

 

$

(292

)

 

$

265,110

 

 

Proceeds from the sales and maturities of available-for-sale securities were $106,043 and $73,848 for the three months ended April 30, 2022 and 2021, respectively. The Company included in “Other loss, net,” in the Condensed Consolidated Statements of Income, a net realized loss of $112 and $0 for the three months ended April 30, 2022 and 2021, respectively. Amortization of discounts and premiums, net, resulted in a reduction of “Other loss, net” of $1,657 and $1,338 for the three months ended April 30, 2022 and 2021, 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, net” in the Condensed Consolidated Statements of Income.