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CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS | 12 Months Ended
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Jan. 31, 2016
CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS |
CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS | NOTE 6 — CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS The Company considers all liquid investments with original maturities of three months or less at the time of purchase to be cash equivalents. At January 31, 2016 and 2015, a significant portion of the balance of cash and cash equivalents was invested in money market funds sponsored by an investment division of Bank of America (the “Bank”). At least 80% of such funds include U.S. Treasury obligations; obligations of U.S. Government agencies, authorities, instrumentalities or sponsored enterprises; and repurchase agreements secured by U.S. Government obligations. Short-term investments as of January 31, 2016 consisted solely of certificates of deposit purchased from the Bank (“CDs”) with original maturities greater than 3 months but less than 12 months. The Company has the intent and ability to hold these securities until they mature, and they are carried at cost plus accrued interest which approximates fair value. The total carrying value amount as of January 31, 2016 included accrued interest of $98,000. Interest income is recorded when earned and is included in other income, net. As of January 31, 2016, the weighted average annual interest rate on the CDs was 0.63%. The Company has cash on deposit in excess of federally insured limits at the Bank, has purchased CDs and has liquid mutual fund investments at the Bank. Management does not believe that maintaining substantially all such assets with the Bank represents a material risk. The amounts of cash, cash equivalents and short-term investments in the consolidated balance sheet as of January 31, 2016 included amounts held by the consolidated joint venture entities that are discussed in Note 5 above. Such amounts, which included cash and cash equivalents that amounted to $41,757,000, and short-term investments that amounted to $9,006,000, will be used to cover the remaining future construction costs incurred under the corresponding EPC Contracts and the remaining earnings distributions to the joint venture partners.

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- Definition The entire disclosure of the components of cash, cash equivalents, and short-term investments. Short-term investments may include current marketable securities. + References No definition available. + Details
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