XML 19 R12.htm IDEA: XBRL DOCUMENT v3.24.1.1.u2
Marketable Securities
 3 Months Ended
Apr. 30, 2024
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, 2024, January 31, 2023 and April 30, 2023 were as follows:

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Fair

 

 

 

Cost

 

 

Gains

 

 

(Losses)

 

 

Value

 

As of April 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Short-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

145,891

 

 

$

3

 

 

$

(1,000

)

 

$

144,894

 

Federal government agencies

 

 

76,515

 

 

 

—

 

 

 

(204

)

 

 

76,311

 

Municipal and pre-refunded municipal bonds

 

 

49,515

 

 

 

4

 

 

 

(204

)

 

 

49,315

 

US Treasury securities

 

 

28,925

 

 

 

—

 

 

 

(127

)

 

 

28,798

 

Certificates of deposit

 

 

10,249

 

 

 

—

 

 

 

—

 

 

 

10,249

 

Commercial paper

 

 

2,991

 

 

 

—

 

 

 

—

 

 

 

2,991

 

 

 

314,086

 

 

 

7

 

 

 

(1,535

)

 

 

312,558

 

Long-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

119,907

 

 

 

19

 

 

 

(1,116

)

 

 

118,810

 

Federal government agencies

 

 

53,486

 

 

 

—

 

 

 

(502

)

 

 

52,984

 

Municipal and pre-refunded municipal bonds

 

 

38,785

 

 

 

9

 

 

 

(286

)

 

 

38,508

 

US Treasury securities

 

 

49,943

 

 

 

—

 

 

 

(677

)

 

 

49,266

 

Certificates of deposit

 

 

11,250

 

 

 

—

 

 

 

—

 

 

 

11,250

 

Mutual funds, held in rabbi trust

 

 

15,950

 

 

 

443

 

 

 

(33

)

 

 

16,360

 

 

 

289,321

 

 

 

471

 

 

 

(2,614

)

 

 

287,178

 

 

$

603,407

 

 

$

478

 

 

$

(4,149

)

 

$

599,736

 

As of January 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Short-term Investments:

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

$

123,418

 

 

$

27

 

 

$

(883

)

 

$

122,562

 

Federal government agencies

 

 

68,730

 

 

 

35

 

 

 

(94

)

 

 

68,671

 

Municipal and pre-refunded municipal bonds

 

 

47,915

 

 

 

9

 

 

 

(414

)

 

 

47,510

 

US Treasury securities

 

 

27,231

 

 

 

—

 

 

 

(36

)

 

 

27,195

 

Certificates of deposit

 

 

10,249

 

 

 

—

 

 

 

—

 

 

 

10,249

 

Commercial paper

 

 

10,557

 

 

 

—

 

 

 

—

 

 

 

10,557

 

 

 

288,100

 

 

 

71

 

 

 

(1,427

)

 

 

286,744

 

Long-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

147,924

 

 

 

441

 

 

 

(388

)

 

 

147,977

 

Federal government agencies

 

 

65,698

 

 

 

138

 

 

 

(94

)

 

 

65,742

 

Municipal and pre-refunded municipal bonds

 

 

39,243

 

 

 

160

 

 

 

(35

)

 

 

39,368

 

US Treasury securities

 

 

34,604

 

 

 

169

 

 

 

(26

)

 

 

34,747

 

Certificates of deposit

 

 

11,250

 

 

 

—

 

 

 

—

 

 

 

11,250

 

Mutual funds, held in rabbi trust

 

 

13,817

 

 

 

1,344

 

 

 

(93

)

 

 

15,068

 

 

 

312,536

 

 

 

2,252

 

 

 

(636

)

 

 

314,152

 

 

$

600,636

 

 

$

2,323

 

 

$

(2,063

)

 

$

600,896

 

 

 

 

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

 

Federal government agencies

 

 

21,284

 

 

 

—

 

 

 

(28

)

 

 

21,256

 

Municipal and pre-refunded municipal bonds

 

 

45,467

 

 

 

—

 

 

 

(547

)

 

 

44,920

 

US Treasury securities

 

 

22,903

 

 

 

1

 

 

 

(16

)

 

 

22,888

 

Commercial paper

 

 

35,874

 

 

 

—

 

 

 

—

 

 

 

35,874

 

 

 

211,580

 

 

 

2

 

 

 

(1,805

)

 

 

209,777

 

Long-term Investments:

 

 

 

 

 

 

 

 

 

 

 

 

Corporate bonds

 

 

42,823

 

 

 

17

 

 

 

(2,141

)

 

 

40,699

 

Federal government agencies

 

 

14,340

 

 

 

9

 

 

 

(37

)

 

 

14,312

 

Municipal and pre-refunded municipal bonds

 

 

19,071

 

 

 

5

 

 

 

(906

)

 

 

18,170

 

Certificates of deposit

 

 

249

 

 

 

—

 

 

 

—

 

 

 

249

 

Mutual funds, held in rabbi trust

 

 

12,656

 

 

 

132

 

 

 

(62

)

 

 

12,726

 

 

 

89,139

 

 

 

163

 

 

 

(3,146

)

 

 

86,156

 

 

$

300,719

 

 

$

165

 

 

$

(4,951

)

 

$

295,933

 

Proceeds from the sales and maturities of available-for-sale securities were $91,081 and $69,456 for the three months ended April 30, 2024 and 2023, respectively. The Company included in “Other income, net,” in the Condensed Consolidated Statements of Income, a net realized loss of $23 and a net realized gain of $1 for the three months ended April 30, 2024 and 2023, respectively. Amortization of discounts and premiums, net, resulted in a benefit of $2,155 and $278 for the three months ended April 30, 2024 and 2023, respectively. Amortization of discounts and premiums, net, is included in “Other income, 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, net” in the Condensed Consolidated Statements of Income.