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Debt Securities
 12 Months Ended
Jul. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
Debt Securities

Note 6—Debt Securities

 

The following is a summary of available-for-sale debt securities:

 

(in thousands)  Amortized
Cost		   Gross
Unrealized
Gains		   Gross
Unrealized
Losses		   Fair Value 
July 31, 2020                
Certificates of deposit*  $13,844   $58   $
—
   $13,902 
U.S. Treasury bills   2,498    
—
    
—
    2,498 
Municipal bonds   1,979    
—
    (16)   1,963 
TOTAL  $18,321   $58   $(16)  $18,363 
July 31, 2019                    
Certificates of deposit*  $2,234   $
—
   $
—
   $2,234 
Municipal bonds   300    
—
    
—
    300 
TOTAL  $2,534   $
—
   $
—
   $2,534 

 

*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.

 

Proceeds from maturities and sales of debt securities were $6.5 million and $5.3 million in fiscal 2020 and fiscal 2019, respectively. There were no realized gains or realized losses from sales of debt securities in fiscal 2020 and fiscal 2019.

 

The contractual maturities of the Company’s available-for-sale debt securities at July 31, 2020 were as follows:

 

(in thousands)  Fair Value 
Within one year  $15,941 
After one year through five years   1,449 
After five years through ten years   209 
After ten years   764 
TOTAL  $18,363 

 

The following available-for-sale debt securities were in an unrealized loss position for which other-than-temporary impairments were not recognized:

 

(in thousands)  Unrealized
Losses		   Fair
Value		 
July 31, 2020        
Municipal bonds  $16   $1,963 
July 31, 2019          
Total  $
—
   $
—
 

 

At July 31, 2020 and 2019, there were no securities in a continuous unrealized loss position for 12 months or longer.