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v3.25.2

Marketable Securities | 6 Months Ended
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Jul. 31, 2025
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, 2025, January 31, 2025 and July 31, 2024 were as follows:
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | (Losses) |  |  | Value |
As of July 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |
Short-term Investments: |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 190,228 |  |  | $ | 59 |  |  | $ | (244 | ) |  | $ | 190,043 |
US Treasury securities |  |  | 12,724 |  |  |  | 19 |  |  |  | (2 | ) |  |  | 12,741 |
Federal government agencies |  |  | 30,609 |  |  |  | 11 |  |  |  | (7 | ) |  |  | 30,613 |
Municipal and pre-refunded municipal bonds |  |  | 48,111 |  |  |  | 12 |  |  |  | (33 | ) |  |  | 48,090 |
Commercial paper |  |  | 7,928 |  |  |  | — |  |  |  | — |  |  |  | 7,928 |
Certificates of deposit |  |  | 1,249 |  |  |  | — |  |  |  | — |  |  |  | 1,249 |
|  |  | 290,849 |  |  |  | 101 |  |  |  | (286 | ) |  |  | 290,664 |
Long-term Investments: |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  |  | 216,635 |  |  |  | 469 |  |  |  | (336 | ) |  |  | 216,768 |
US Treasury securities |  |  | 84,454 |  |  |  | 351 |  |  |  | (26 | ) |  |  | 84,779 |
Federal government agencies |  |  | 39,635 |  |  |  | 3 |  |  |  | (172 | ) |  |  | 39,466 |
Municipal and pre-refunded municipal bonds |  |  | 4,940 |  |  |  | 10 |  |  |  | (3 | ) |  |  | 4,947 |
Mutual funds, held in rabbi trust |  |  | 20,115 |  |  |  | 297 |  |  |  | (36 | ) |  |  | 20,376 |
|  |  | 365,779 |  |  |  | 1,130 |  |  |  | (573 | ) |  |  | 366,336 |
|  | $ | 656,628 |  |  | $ | 1,231 |  |  | $ | (859 | ) |  | $ | 657,000 |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | (Losses) |  |  | Value |
As of January 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |
Short-term Investments: |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 186,732 |  |  | $ | 103 |  |  | $ | (114 | ) |  | $ | 186,721 |
US Treasury securities |  |  | 5,415 |  |  |  | — |  |  |  | (5 | ) |  |  | 5,410 |
Federal government agencies |  |  | 53,663 |  |  |  | 55 |  |  |  | (7 | ) |  |  | 53,711 |
Municipal and pre-refunded municipal bonds |  |  | 53,772 |  |  |  | 70 |  |  |  | (8 | ) |  |  | 53,834 |
Commercial paper |  |  | 9,774 |  |  |  | — |  |  |  | — |  |  |  | 9,774 |
Certificates of deposit |  |  | 10,499 |  |  |  | — |  |  |  | — |  |  |  | 10,499 |
|  |  | 319,855 |  |  |  | 228 |  |  |  | (134 | ) |  |  | 319,949 |
Long-term Investments: |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  |  | 233,418 |  |  |  | 298 |  |  |  | (500 | ) |  |  | 233,216 |
US Treasury securities |  |  | 92,852 |  |  |  | 226 |  |  |  | (90 | ) |  |  | 92,988 |
Federal government agencies |  |  | 50,579 |  |  |  | 16 |  |  |  | (292 | ) |  |  | 50,303 |
Municipal and pre-refunded municipal bonds |  |  | 14,770 |  |  |  | 35 |  |  |  | (8 | ) |  |  | 14,797 |
Mutual funds, held in rabbi trust |  |  | 15,673 |  |  |  | 2,246 |  |  |  | (15 | ) |  |  | 17,904 |
Certificates of deposit |  |  | 1,000 |  |  |  | — |  |  |  | — |  |  |  | 1,000 |
|  |  | 408,292 |  |  |  | 2,821 |  |  |  | (905 | ) |  |  | 410,208 |
|  | $ | 728,147 |  |  | $ | 3,049 |  |  | $ | (1,039 | ) |  | $ | 730,157 |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Fair |
|  | Cost |  |  | Gains |  |  | (Losses) |  |  | Value |
As of July 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Short-term Investments: |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 179,538 |  |  | $ | 26 |  |  | $ | (567 | ) |  | $ | 178,997 |
US Treasury securities |  |  | 29,150 |  |  |  | — |  |  |  | (59 | ) |  |  | 29,091 |
Federal government agencies |  |  | 73,850 |  |  |  | 7 |  |  |  | (115 | ) |  |  | 73,742 |
Municipal and pre-refunded municipal bonds |  |  | 47,174 |  |  |  | 17 |  |  |  | (65 | ) |  |  | 47,126 |
Commercial paper |  |  | 2,905 |  |  |  | — |  |  |  | — |  |  |  | 2,905 |
Certificates of deposit |  |  | 20,499 |  |  |  | — |  |  |  | — |  |  |  | 20,499 |
|  |  | 353,116 |  |  |  | 50 |  |  |  | (806 | ) |  |  | 352,360 |
Long-term Investments: |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  |  | 79,873 |  |  |  | 147 |  |  |  | (87 | ) |  |  | 79,933 |
US Treasury securities |  |  | 49,951 |  |  |  | 200 |  |  |  | (45 | ) |  |  | 50,106 |
Federal government agencies |  |  | 35,635 |  |  |  | 7 |  |  |  | (105 | ) |  |  | 35,537 |
Municipal and pre-refunded municipal bonds |  |  | 25,250 |  |  |  | 19 |  |  |  | (69 | ) |  |  | 25,200 |
Mutual funds, held in rabbi trust |  |  | 16,011 |  |  |  | 1,682 |  |  |  | — |  |  |  | 17,693 |
Certificates of deposit |  |  | 1,000 |  |  |  | — |  |  |  | — |  |  |  | 1,000 |
|  |  | 207,720 |  |  |  | 2,055 |  |  |  | (306 | ) |  |  | 209,469 |
|  | $ | 560,836 |  |  | $ | 2,105 |  |  | $ | (1,112 | ) |  | $ | 561,829 |
Proceeds from the sales and maturities of available-for-sale securities were $295,861 and $204,145 for the six months ended July 31, 2025, and 2024, respectively. The Company included in “Other income, net,” in the Condensed Consolidated Statements of Income, a net realized gain of $7 and $273 for the three and six months ended July 31, 2025, respectively, and a net realized loss of $56 and $79 for the three and six months ended July 31, 2024, respectively. Amortization of discounts and premiums, net, included in "Other income, net" in the Condensed Consolidated Statements of Income, resulted in a benefit of $1,163 and $2,706 for the three and six months ended July 31, 2025, respectively, and a benefit of $2,066 and $4,221 for the three and six months ended July 31, 2024, respectively. 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.

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