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Marketable Securities
 9 Months Ended
Oct. 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 October 31, 2022, January 31, 2022 and October 31, 2021 were as follows:

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Value

 

As of October 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

Short-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

85,788

 

 

$

—

 

 

$

(1,626

)

 

$

84,162

 

Municipal and pre-refunded municipal bonds

 

 

58,417

 

 

 

—

 

 

 

(910

)

 

 

57,507

 

US Treasury securities

 

 

4,750

 

 

 

—

 

 

 

(55

)

 

 

4,695

 

 

 

 

148,955

 

 

 

—

 

 

 

(2,591

)

 

 

146,364

 

Long-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

61,707

 

 

 

—

 

 

 

(4,472

)

 

 

57,235

 

Municipal and pre-refunded municipal bonds

 

 

28,803

 

 

 

—

 

 

 

(1,801

)

 

 

27,002

 

Mutual funds, held in rabbi trust

 

 

12,546

 

 

 

—

 

 

 

(1,786

)

 

 

10,760

 

Certificates of deposit

 

 

249

 

 

 

—

 

 

 

—

 

 

 

249

 

 

 

 

103,305

 

 

 

—

 

 

 

(8,059

)

 

 

95,246

 

 

 

$

252,260

 

 

$

—

 

 

$

(10,650

)

 

$

241,610

 

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

 

Mutual funds, held in rabbi trust

 

 

12,419

 

 

 

—

 

 

 

(606

)

 

 

11,813

 

US Treasury securities

 

 

5,222

 

 

 

—

 

 

 

(46

)

 

 

5,176

 

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 October 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

Short-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

53,744

 

 

$

3

 

 

$

(71

)

 

$

53,676

 

Municipal and pre-refunded municipal bonds

 

 

114,818

 

 

 

9

 

 

 

(73

)

 

 

114,754

 

US Treasury securities

 

 

16,849

 

 

 

—

 

 

 

(3

)

 

 

16,846

 

Commercial paper

 

 

3,099

 

 

 

—

 

 

 

—

 

 

 

3,099

 

 

 

 

188,510

 

 

 

12

 

 

 

(147

)

 

 

188,375

 

Long-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

174,884

 

 

 

1

 

 

 

(1,125

)

 

 

173,760

 

Municipal and pre-refunded municipal bonds

 

 

78,955

 

 

 

8

 

 

 

(362

)

 

 

78,601

 

Mutual funds, held in rabbi trust

 

 

11,540

 

 

 

542

 

 

 

(1

)

 

 

12,081

 

US Treasury securities

 

 

4,748

 

 

 

—

 

 

 

(7

)

 

 

4,741

 

Federal government agencies

 

 

350

 

 

 

—

 

 

 

(2

)

 

 

348

 

Certificates of deposit

 

 

249

 

 

 

—

 

 

 

—

 

 

 

249

 

 

 

 

270,726

 

 

 

551

 

 

 

(1,497

)

 

 

269,780

 

 

 

$

459,236

 

 

$

563

 

 

$

(1,644

)

 

$

458,155

 

 

Proceeds from the sales and maturities of available-for-sale securities were $230,745 and $237,879 for the nine months ended October 31, 2022 and 2021, respectively. The Company included in “Other loss, net,” in the Condensed Consolidated Statements of Income, a net realized loss of $1,131 and $1,465 for the three and nine months ended October 31, 2022, respectively, and a net realized gain of $9 and $13 for the three and nine months ended October 31, 2021. Amortization of discounts and premiums, net, was $1,037 and $3,919 for the three and nine months ended October 31, 2022, respectively, and $1,804 and $4,540 for the three and nine months ended October 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.