XML 20 R10.htm IDEA: XBRL DOCUMENT v3.23.1
Marketable Securities
 3 Months Ended
Apr. 30, 2023
Investments Debt And Equity Securities [Abstract]  
Marketable Securities

3. 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, 2023, January 31, 2023 and April 30, 2022 were as follows:

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Value

 

As of April 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

Short-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

86,052

 

 

$

1

 

 

$

(1,214

)

 

$

84,839

 

Municipal and pre-refunded municipal bonds

 

 

45,467

 

 

 

—

 

 

 

(547

)

 

 

44,920

 

Commercial paper

 

 

35,874

 

 

 

—

 

 

 

—

 

 

 

35,874

 

US Treasury securities

 

 

22,903

 

 

 

1

 

 

 

(16

)

 

 

22,888

 

Federal government agencies

 

 

21,284

 

 

 

—

 

 

 

(28

)

 

 

21,256

 

 

 

211,580

 

 

 

2

 

 

 

(1,805

)

 

 

209,777

 

Long-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

42,823

 

 

 

17

 

 

 

(2,141

)

 

 

40,699

 

Municipal and pre-refunded municipal bonds

 

 

19,071

 

 

 

5

 

 

 

(906

)

 

 

18,170

 

Federal government agencies

 

 

14,340

 

 

 

9

 

 

 

(37

)

 

 

14,312

 

Mutual funds, held in rabbi trust

 

 

12,656

 

 

 

132

 

 

 

(62

)

 

 

12,726

 

Certificates of deposit

 

 

249

 

 

 

—

 

 

 

—

 

 

 

249

 

 

 

89,139

 

 

 

163

 

 

 

(3,146

)

 

 

86,156

 

 

$

300,719

 

 

$

165

 

 

$

(4,951

)

 

$

295,933

 

As of January 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

Short-term Investments:

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

83,184

 

 

$

—

 

 

$

(947

)

 

$

82,237

 

Municipal and pre-refunded municipal bonds

 

 

48,141

 

 

 

—

 

 

 

(688

)

 

 

47,453

 

Commercial paper

 

 

21,636

 

 

 

—

 

 

 

—

 

 

 

21,636

 

US Treasury securities

 

 

23,561

 

 

 

1

 

 

 

(10

)

 

 

23,552

 

Federal government agencies

 

 

6,501

 

 

 

—

 

 

 

(1

)

 

 

6,500

 

 

 

183,023

 

 

 

1

 

 

 

(1,646

)

 

 

181,378

 

Long-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

62,594

 

 

 

22

 

 

 

(3,319

)

 

 

59,297

 

Municipal and pre-refunded municipal bonds

 

 

23,437

 

 

 

5

 

 

 

(1,154

)

 

 

22,288

 

Federal government agencies

 

 

9,021

 

 

 

13

 

 

 

(2

)

 

 

9,032

 

Mutual funds, held in rabbi trust

 

 

13,402

 

 

 

—

 

 

 

(1,424

)

 

 

11,978

 

Certificates of deposit

 

 

249

 

 

 

—

 

 

 

—

 

 

 

249

 

 

 

108,703

 

 

 

40

 

 

 

(5,899

)

 

 

102,844

 

 

$

291,726

 

 

$

41

 

 

$

(7,545

)

 

$

284,222

 

 

 

 

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

 

Commercial paper

 

 

7,789

 

 

 

—

 

 

 

—

 

 

 

7,789

 

US Treasury securities

 

 

9,749

 

 

 

—

 

 

 

(93

)

 

 

9,656

 

 

 

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

 

Federal government agencies

 

 

350

 

 

 

—

 

 

 

(12

)

 

 

338

 

US Treasury securities

 

 

3,226

 

 

 

—

 

 

 

(138

)

 

 

3,088

 

Mutual funds, held in rabbi trust

 

 

12,393

 

 

 

—

 

 

 

(956

)

 

 

11,437

 

Certificates of deposit

 

 

249

 

 

 

—

 

 

 

—

 

 

 

249

 

 

 

187,549

 

 

 

—

 

 

 

(8,091

)

 

 

179,458

 

 

$

376,695

 

 

$

—

 

 

$

(9,674

)

 

$

367,021

 

Proceeds from the sales and maturities of available-for-sale securities were $69,456 and $106,043 for the three months ended April 30, 2023 and 2022, respectively. The Company included in “Other income (loss), net,” in the Condensed Consolidated Statements of Income, a net realized gain of $1 and a net realized loss of $112 for the three months ended April 30, 2023 and 2022, respectively. Amortization of discounts and premiums, net, was $278 and $1,657 for the three months ended April 30, 2023 and 2022, respectively. Amortization of discounts and premiums, net, is included in “Other income (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 income (loss), net” in the Condensed Consolidated Statements of Income.