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Debt Securities | 6 Months Ended
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Jan. 31, 2019
Debt Securities [Abstract] |
Debt Securities | Note 7—Debt Securities The following is a summary of marketable debt securities:
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
|  | (in thousands) |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |
January 31, 2019: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury notes |  | $ | 749 |  |  | $ | — |  |  | $ | — |  |  | $ | 749 |
Municipal bonds |  |  | 302 |  |  |  | — |  |  |  | — |  |  |  | 302 |
Total |  | $ | 1,051 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,051 |
July 31, 2018: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit* |  | $ | 3,032 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,032 |
U.S. Treasury notes |  |  | 1,693 |  |  |  | — |  |  |  | (1 | ) |  |  | 1,692 |
Municipal bonds |  |  | 888 |  |  |  | — |  |  |  | — |  |  |  | 888 |
Total |  | $ | 5,613 |  |  | $ | — |  |  | $ | (1 | ) |  | $ | 5,612 |
| * | Each of the Company’s certificates of deposit had a CUSIP, was purchased in the secondary market through a broker, and may be sold in the secondary market.
Equity securities with a fair value of $0.4 million at July 31, 2018 were reclassified to “Other current assets” to conform to the current year presentation (see Note 8). Proceeds from maturities and sales of available-for-sale securities were $1.2 million and $12.1 million in the three months ended January 31, 2019 and 2018, respectively, and $4.6 million and $31.6 million in the six months ended January 31, 2019 and 2018, respectively. There were no gross realized gains that were included in earnings as a result of sales in the three and six months ended January 31, 2019 and 2018. There were no gross realized losses that were included in earnings as a result of sales in the three and six months ended January 31, 2019. The gross realized losses that were included in earnings as a result of sales were $16,000 and $9,000 in the three and six months ended January 31, 2018, respectively. The Company uses the specific identification method in computing the gross realized gains and gross realized losses on the sales of marketable securities. The contractual maturities of the Company’s available-for-sale debt securities at January 31, 2019 were as follows:
|  | Fair Value |
|  | (in thousands) |
Within one year |  | $ | 1,051 |
After one year through five years |  |  | — |
After five years through ten years |  |  | — |
After ten years |  |  | — |
Total |  | $ | 1,051 |
The following available-for-sale debt securities were in an unrealized loss position for which other-than-temporary impairments have not been recognized:
|  | Unrealized Losses |  |  | Fair Value |
|  | (in thousands) |
January 31, 2019: |  |  |  |  |  |
Total |  | $ | — |  |  | $ | — |
July 31, 2018: |  |  |  |  |  |  |  |
U.S. Treasury notes |  | $ | 1 |  |  | $ | 1,692 |
At January 31, 2019 and July 31, 2018, there were no securities in a continuous unrealized loss position for 12 months or longer.

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