XML 54 R12.htm IDEA: XBRL DOCUMENT v3.20.1
Debt Securities
 9 Months Ended
Apr. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
Debt Securities

Note 5—Debt Securities

 

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

 

   Amortized Cost   Gross
Unrealized
Gains		   Gross
Unrealized
Losses		   Fair Value 
   (in thousands) 
April 30, 2020:                
Certificates of deposit*  $12,864   $85   $(1)  $12,948 
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 and redemptions of equity investments were $1.6 million and $0.8 million in the three months ended April 30, 2020 and 2019, respectively, and $4.3 million and $6.3 million in the nine months ended April 30, 2020 and 2019, respectively. There were no realized gains or realized losses from sales of debt securities in the three and nine months ended April 30, 2020 and 2019. The Company uses the specific identification method in computing the realized gains and realized losses on the sales of debt securities.

  

The contractual maturities of the Company's available-for-sale debt securities at April 30, 2020 were as follows:

 

   Fair Value 
   (in thousands) 
Within one year  $11,728 
After one year through five years   1,220 
After five years through ten years   — 
After ten years   — 
Total  $12,948 

 

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) 
April 30, 2020:        
Certificates of deposit  $1   $384 
July 31, 2019:          
Total  $—   $— 

 

At April 30, 2020 and July 31, 2019, there were no securities in a continuous unrealized loss position for 12 months or longer.