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Marketable Securities | 12 Months Ended
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Jul. 31, 2018
Marketable Securities [Abstract] |
Marketable Securities | Note 5—Marketable Securities The following is a summary of marketable securities:
(in thousands) |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
July 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit* |  | $ | 3,032 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,032 |
Equity |  |  | 393 |  |  |  | — |  |  |  | (33 | ) |  |  | 360 |
U.S. Treasury notes |  |  | 1,693 |  |  |  | — |  |  |  | (1 | ) |  |  | 1,692 |
Municipal bonds |  |  | 888 |  |  |  | — |  |  |  | — |  |  |  | 888 |
TOTAL |  | $ | 6,006 |  |  | $ | — |  |  | $ | (34 | ) |  | $ | 5,972 |
July 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit* |  | $ | 29,011 |  |  | $ | 1 |  |  | $ | (7 | ) |  | $ | 29,005 |
Federal Government Sponsored Enterprise notes |  |  | 3,992 |  |  |  | — |  |  |  | (14 | ) |  |  | 3,978 |
International agency notes |  |  | 291 |  |  |  | — |  |  |  | — |  |  |  | 291 |
Mutual funds |  |  | 5,353 |  |  |  | 77 |  |  |  | — |  |  |  | 5,430 |
Corporate bonds |  |  | 4,643 |  |  |  | — |  |  |  | — |  |  |  | 4,643 |
Equity |  |  | 74 |  |  |  | — |  |  |  | (26 | ) |  |  | 48 |
U.S. Treasury notes |  |  | 6,673 |  |  |  | — |  |  |  | — |  |  |  | 6,673 |
Municipal bonds |  |  | 8,201 |  |  |  | 4 |  |  |  | (1 | ) |  |  | 8,204 |
TOTAL |  | $ | 58,238 |  |  | $ | 82 |  |  | $ | (48 | ) |  | $ | 58,272 |
| * | Each of the Company’s certificates of deposit has a CUSIP, was purchased in the secondary market through a broker and may be sold in the secondary market.
As part of the Zedge Spin-Off, holders of the Company’s restricted Class B common stock received, in respect of those restricted shares, one restricted share of Zedge’s Class B common stock for every three restricted shares of the Company that they held as of the record date for the Zedge Spin-Off. In January 2017, the Company received 23,227 shares of Zedge Class B common stock in connection with the lapsing of restrictions on Zedge restricted stock held by certain of the Company’s employees and the payment of taxes related thereto. In addition, in July 2018, the Company received 17,359 shares of Zedge Class B common stock in connection with the lapsing of restrictions on Zedge restricted stock held by certain of the Company’s employees and the payment of taxes related thereto. The Company received the Zedge shares in exchange for the payment of an aggregate of $0.1 million for the employees’ tax withholding obligations upon the vesting event. The number of shares was determined based on their fair market value on the trading day immediately prior to the vesting date. At July 31, 2018 and 2017, the Company owned 42,282 and 23,227 shares, respectively, of Zedge Class B common stock that had a fair value of $0.1 million and $48,000, respectively. As part of the Rafael Spin-Off, holders of the Company’s restricted Class B common stock received, in respect of those restricted shares, one restricted share of Rafael Class B common stock for every two restricted shares of the Company that they held as of the record date for the Rafael Spin-Off. In July 2018, the Company received 25,803 shares of Rafael Class B common stock in connection with the lapsing of restrictions on Rafael restricted stock held by certain of the Company’s employees and the payment of taxes related thereto. The Company received the Rafael shares in exchange for the payment of an aggregate of $0.2 million for the employees’ tax withholding obligations upon the vesting event. The number of shares was determined based on their fair market value on the trading day immediately prior to the vesting date. At July 31, 2018, the Company owned 25,803 shares of Rafael Class B common stock that had a fair value of $0.2 million. Proceeds from maturities and sales of available-for-sale securities were $41.5 million, $48.0 million and $35.0 million in fiscal 2018, fiscal 2017 and fiscal 2016, respectively. Realized gains from sales of available-for-sale securities were nil, $0.3 million and $0.5 million in fiscal 2018, fiscal 2017 and fiscal 2016, respectively. Realized losses from sales of available-for-sale securities were $16,000, nil and nil in fiscal 2018, fiscal 2017 and fiscal 2016, respectively. The contractual maturities of the Company’s available-for-sale debt securities at July 31, 2018 were as follows:
(in thousands) |  | Fair Value |
Within one year |  | $ | 5,308 |
After one year through five years |  |  | 304 |
After five years through ten years |  |  | — |
After ten years |  |  | — |
TOTAL |  | $ | 5,612 |
The following available-for-sale securities were in an unrealized loss position for which other-than-temporary impairments have not been recognized:
(in thousands) |  | Unrealized Losses |  |  | Fair Value |
July 31, 2018 |  |  |  |  |  |
Equity |  | $ | 33 |  |  | $ | 360 |
U.S. Treasury notes |  |  | 1 |  |  |  | 1,692 |
TOTAL |  | $ | 34 |  |  | $ | 2,052 |
July 31, 2017 |  |  |  |  |  |  |  |
Certificates of deposit |  | $ | 7 |  |  | $ | 12,155 |
Federal Government Sponsored Enterprise notes |  |  | 14 |  |  |  | 3,529 |
Equity |  |  | 26 |  |  |  | 48 |
Municipal bonds |  |  | 1 |  |  |  | 3,349 |
TOTAL |  | $ | 48 |  |  | $ | 19,081 |
At July 31, 2018 and 2017, there were no securities in a continuous unrealized loss position for 12 months or longer.

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