XML 23 R11.htm IDEA: XBRL DOCUMENT v3.22.2.2
Marketable Securities
 6 Months Ended
Jul. 31, 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 July 31, 2022, January 31, 2022 and July 31, 2021 were as follows:

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Value

 

As of July 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

76,652

 

 

$

—

 

 

$

(1,211

)

 

$

75,441

 

Municipal and pre-refunded municipal bonds

 

 

75,518

 

 

 

—

 

 

 

(595

)

 

 

74,923

 

US Treasury securities

 

 

9,749

 

 

 

—

 

 

 

(93

)

 

 

9,656

 

 

 

 

161,919

 

 

 

—

 

 

 

(1,899

)

 

 

160,020

 

Long-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

96,086

 

 

 

—

 

 

 

(4,160

)

 

 

91,926

 

Municipal and pre-refunded municipal bonds

 

 

47,437

 

 

 

—

 

 

 

(1,858

)

 

 

45,579

 

US Treasury securities

 

 

3,229

 

 

 

—

 

 

 

(129

)

 

 

3,100

 

Mutual funds, held in rabbi trust

 

 

12,361

 

 

 

—

 

 

 

(1,025

)

 

 

11,336

 

Federal government agencies

 

 

350

 

 

 

—

 

 

 

(12

)

 

 

338

 

Certificates of deposit

 

 

249

 

 

 

—

 

 

 

—

 

 

 

249

 

 

 

 

159,712

 

 

 

—

 

 

 

(7,184

)

 

 

152,528

 

 

 

$

321,631

 

 

$

—

 

 

$

(9,083

)

 

$

312,548

 

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 July 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Short-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

28,808

 

 

$

2

 

 

$

(24

)

 

$

28,786

 

Municipal and pre-refunded municipal bonds

 

 

122,173

 

 

 

14

 

 

 

(87

)

 

 

122,100

 

Commercial paper

 

 

6,096

 

 

 

—

 

 

 

—

 

 

 

6,096

 

 

 

 

157,077

 

 

 

16

 

 

 

(111

)

 

 

156,982

 

Long-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

61,646

 

 

 

4

 

 

 

(159

)

 

 

61,491

 

Municipal and pre-refunded municipal bonds

 

 

40,069

 

 

 

34

 

 

 

(56

)

 

 

40,047

 

Mutual funds, held in rabbi trust

 

 

11,610

 

 

 

143

 

 

 

(42

)

 

 

11,711

 

 

 

 

113,325

 

 

 

181

 

 

 

(257

)

 

 

113,249

 

 

 

$

270,402

 

 

$

197

 

 

$

(368

)

 

$

270,231

 

 

Proceeds from the sales and maturities of available-for-sale securities were $164,314 and $148,582 for the six months ended July 31, 2022 and 2021, respectively. The Company included in “Other loss, net,” in the Condensed Consolidated Statements of Income, a net realized loss of $222 and $334 for the three and six months ended July 31, 2022, respectively, and a net realized gain of $4 for the three and six months ended July 31, 2021. Amortization of discounts and premiums, net, was $1,225 and $2,882 for the three and six months ended July 31, 2022, respectively, and $1,398 and $2,736 for the three and six months ended July 31, 2021, respectively. Amortization of discounts and premiums, net, is included in “Other loss, net” in the Condensed Consolidated Statements of Income. 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.