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v3.23.2

Marketable Securities | 6 Months Ended
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Jul. 31, 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 July 31, 2023, January 31, 2023 and July 31, 2022 were as follows:
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | (Losses) |  |  | Value |
As of July 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Short-term Investments: |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 96,902 |  |  | $ | 1 |  |  | $ | (1,239 | ) |  | $ | 95,664 |
Federal government agencies |  |  | 47,287 |  |  |  | — |  |  |  | (163 | ) |  |  | 47,124 |
Municipal and pre-refunded municipal bonds |  |  | 48,350 |  |  |  | — |  |  |  | (670 | ) |  |  | 47,680 |
Commercial paper |  |  | 41,719 |  |  |  | — |  |  |  | — |  |  |  | 41,719 |
US Treasury securities |  |  | 18,661 |  |  |  | — |  |  |  | (16 | ) |  |  | 18,645 |
|  |  | 252,919 |  |  |  | 1 |  |  |  | (2,088 | ) |  |  | 250,832 |
Long-term Investments: |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  |  | 47,835 |  |  |  | — |  |  |  | (1,745 | ) |  |  | 46,090 |
Federal government agencies |  |  | 44,914 |  |  |  | — |  |  |  | (464 | ) |  |  | 44,450 |
Municipal and pre-refunded municipal bonds |  |  | 13,980 |  |  |  | — |  |  |  | (469 | ) |  |  | 13,511 |
US Treasury securities |  |  | 2,969 |  |  |  | — |  |  |  | (61 | ) |  |  | 2,908 |
Mutual funds, held in rabbi trust |  |  | 12,941 |  |  |  | 1,027 |  |  |  | (70 | ) |  |  | 13,898 |
Certificates of deposit |  |  | 1,499 |  |  |  | — |  |  |  | — |  |  |  | 1,499 |
|  |  | 124,138 |  |  |  | 1,027 |  |  |  | (2,809 | ) |  |  | 122,356 |
|  | $ | 377,057 |  |  | $ | 1,028 |  |  | $ | (4,897 | ) |  | $ | 373,188 |
As of January 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Short-term Investments: |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 83,184 |  |  | $ | — |  |  | $ | (947 | ) |  | $ | 82,237 |
Federal government agencies |  |  | 6,501 |  |  |  | — |  |  |  | (1 | ) |  |  | 6,500 |
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 |
|  |  | 183,023 |  |  |  | 1 |  |  |  | (1,646 | ) |  |  | 181,378 |
Long-term Investments: |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  |  | 62,594 |  |  |  | 22 |  |  |  | (3,319 | ) |  |  | 59,297 |
Federal government agencies |  |  | 9,021 |  |  |  | 13 |  |  |  | (2 | ) |  |  | 9,032 |
Municipal and pre-refunded municipal bonds |  |  | 23,437 |  |  |  | 5 |  |  |  | (1,154 | ) |  |  | 22,288 |
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 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 |
Federal government agencies |  |  | 350 |  |  |  | — |  |  |  | (12 | ) |  |  | 338 |
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 |
Certificates of deposit |  |  | 249 |  |  |  | — |  |  |  | — |  |  |  | 249 |
|  |  | 159,712 |  |  |  | — |  |  |  | (7,184 | ) |  |  | 152,528 |
|  | $ | 321,631 |  |  | $ | — |  |  | $ | (9,083 | ) |  | $ | 312,548 |
Proceeds from the sales and maturities of available-for-sale securities were $149,921 and $164,314 for the six months ended July 31, 2023 and 2022, respectively. The Company included in “Other income (loss), net,” in the Condensed Consolidated Statements of Income, a net realized loss of $7 and $6 for the three and six months ended July 31, 2023, respectively, and a net realized loss of $222 and $334 for the three and six months ended July 31, 2022, respectively. Amortization of discounts and premiums, net, was $894 and $1,172 for the three and six months ended July 31, 2023, respectively, and $1,225 and $2,882 for the three and six months ended July 31, 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.

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