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 $960 and $2,012 for the three and six months ended July 31, 2025, respectively, and $1,256 and $2,542 for the three and six months ended July 31, 2024, respectively. Included in "Income tax expense" in the Condensed Consolidated Statements of Income was amortization of the investment of $4,294 and $8,587 for the three and six months ended July 31, 2025, respectively, and $4,380 and $8,760 for the three and six months ended July 31, 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 $5,947 and $11,914 for the three and six months ended July 31, 2025, respectively, and $6,122 and $12,250 for the three and six months ended July 31, 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 July 31, 2025, January 31, 2025 and July 31, 2024:


	July 31,		January 31,		July 31,
	2025		2025		2024
Other assets	$	40,197	$	48,784	$	57,454
Accrued expenses, accrued compensation and other current liabilities		15,938		16,571		16,231
Other non-current liabilities		22,919		30,722		38,857