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 $864 and $2,876 for the three and nine months ended October 31, 2025, respectively, and $1,221 and $3,763 for the three and nine months ended October 31, 2024, respectively. Included in "Income tax expense" in the Condensed Consolidated Statements of Income was amortization of the investment of $4,293 and $12,880 for the three and nine months ended October 31, 2025, respectively, and $4,112 and $12,872 for the three and nine months ended October 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 $5,927 and $17,841 for the three and nine months ended October 31, 2025, respectively, and $6,012 and $18,262 for the three and nine months ended October 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 October 31, 2025, January 31, 2025 and October 31, 2024:


	October 31,		January 31,		October 31,
	2025		2025		2024
Other assets	$	35,904	$	48,784	$	53,136
Accrued expenses, accrued compensation and other current liabilities		15,789		16,571		16,878
Other non-current liabilities		18,886		30,722		34,497