The Company holds an equity membership interest in a federal low-income housing tax credit entity. Refer to Note 10, "Income Taxes," in the Notes to the Consolidated Financial Statements on Form 10-K for the fiscal year ended January 31, 2025, for additional information on the tax credit investment.

The Company included in "Other income, net" in the Condensed Consolidated Statements of Income, interest expense related to the accretion of the liability of $1,052 and $1,286 for the three months ended April 30, 2025 and 2024, respectively. Included in "Income tax expense" in the Condensed Consolidated Statements of Income was amortization of the investment of $4,293 and $4,380 for the three months ended April 30, 2025 and 2024, respectively. Also included in "Income tax expense" in the Condensed Consolidated Statements of Income were income tax credits and other income tax benefits of $5,967 and $6,128 for the three months ended April 30, 2025 and 2024, respectively. The carrying value of the investment is recorded in "Other assets" in the Condensed Consolidated Balance Sheets. The liabilities for the present value of the estimated future capital contributions are recorded in "Accrued expenses, accrued compensation and other current liabilities" and "Other non-current liabilities" in the Condensed Consolidated Balance Sheets. The following table summarizes the balances related to the investment at April 30, 2025, January 31, 2025 and April 30, 2024:


	April 30,		January 31,		April 30,
	2025		2025		2024
Other assets	$	44,491	$	48,784	$	61,834
Accrued expenses, accrued compensation and other current liabilities		16,258		16,571		13,337
Other non-current liabilities		26,863		30,722		43,122