XML 24 R14.htm IDEA: XBRL DOCUMENT
v3.23.3

Debt Securities | 3 Months Ended
--- | ---
Oct. 31, 2023
Investments, Debt and Equity Securities [Abstract] |
Debt Securities | Note 6—Debt Securities The following is a summary of available-for-sale debt securities: Schedule of Available-for-sale Securities
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
|  | (in thousands) |
October 31, 2023: |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit* |  | $ | 1,920 |  |  | $ | — |  |  | $ | (3 | ) |  | $ | 1,917 |
U.S. Treasury bills and notes |  |  | 25,085 |  |  |  | — |  |  |  | (141 | ) |  |  | 24,944 |
Government sponsored enterprise notes |  |  | 3,047 |  |  |  | — |  |  |  | (3 | ) |  |  | 3,044 |
Corporate bonds |  |  | 3,901 |  |  |  | — |  |  |  | (564 | ) |  |  | 3,337 |
Total |  | $ | 33,953 |  |  | $ | — |  |  | $ | (711 | ) |  | $ | 33,242 |
July 31, 2023: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit* |  | $ | 4,080 |  |  | $ | — |  |  | $ | (4 | ) |  | $ | 4,076 |
U.S. Treasury bills and notes |  |  | 31,186 |  |  |  | — |  |  |  | (148 | ) |  |  | 31,038 |
Government sponsored enterprise notes |  |  | 3,881 |  |  |  | — |  |  |  | (8 | ) |  |  | 3,873 |
Corporate bonds |  |  | 3,912 |  |  |  | — |  |  |  | (485 | ) |  |  | 3,427 |
Total |  | $ | 43,059 |  |  | $ | — |  |  | $ | (645 | ) |  | $ | 42,414 |
* | 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.
The gross unrealized losses in the table above are recorded in “Accumulated other comprehensive loss” in the consolidated balance sheets. As of October 31, 2023, the Company determined that the unrealized losses were due to changes in interest rates or market liquidity and were not due to credit losses. In addition, the Company does not intend to sell any of the securities with unrealized losses, and it is not more likely than not that the Company will be required to sell any of the securities with unrealized losses. Proceeds from maturities and sales of debt securities and redemptions of equity investments were $17.1 million and $11.5 million in the three months ended October 31, 2023 and 2022, respectively. There were no realized gains or realized losses from sales of debt securities in the three months ended October 31, 2023 and 2022. 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 October 31, 2023 were as follows: Schedule of Contractual Maturities of Available-for-sale Debt Securities
|  | Fair Value |
|  |  | (in thousands) |
Within one year |  | $ | 26,185 |
After one year through five years |  |  | 5,904 |
After five years through ten years |  |  | 1,110 |
After ten years |  |  | 43 |
Total |  | $ | 33,242 |
The following available-for-sale debt securities were in an unrealized loss position for which other-than-temporary impairments were not recognized: Schedule of Available-for-sale Securities, Unrealized Loss Position
|  | Unrealized Losses |  |  | Fair Value |
|  | (in thousands) |
October 31, 2023: |  |  |  |  |  |
Certificates of deposit |  | $ | 3 |  |  | $ | 1,917 |
U.S. Treasury bills and notes |  |  | 141 |  |  |  | 24,944 |
Government sponsored enterprise notes |  |  | 3 |  |  |  | 3,044 |
Corporate bonds |  |  | 564 |  |  |  | 3,337 |
Total |  | $ | 711 |  |  | $ | 33,242 |
July 31, 2023: |  |  |  |  |  |  |  |
Certificates of deposit |  | $ | 4 |  |  | $ | 3,356 |
U.S. Treasury bills and notes |  |  | 148 |  |  |  | 31,038 |
Government sponsored enterprise notes |  |  | 8 |  |  |  | 3,873 |
Corporate bonds |  |  | 485 |  |  |  | 3,368 |
Total |  | $ | 645 |  |  | $ | 41,635 |
The following available-for-sale debt securities included in the table above were in a continuous unrealized loss position for 12 months or longer: Schedule of Continuous Unrealized Loss Position for 12 Months or Longer
|  | Unrealized Losses |  |  | Fair Value |
|  | (in thousands) |
October 31, 2023: |  |  |  |  |  |
U.S. Treasury bills and notes |  | $ | 66 |  |  | $ | 639 |
Corporate bonds |  |  | 556 |  |  |  | 3,216 |
Total |  | $ | 622 |  |  | $ | 3,855 |
July 31, 2023: |  |  |  |  |  |  |  |
U.S. Treasury bills and notes |  | $ | 86 |  |  | $ | 816 |
Corporate bonds |  |  | 484 |  |  |  | 3,299 |
Total |  | $ | 570 |  |  | $ | 4,115 |
At October 31, 2023 and July 31, 2023, the Company did not intend to sell any of the debt securities included in the table above, and it is not more likely than not that the Company will be required to sell any of these securities before recovery of the unrealized losses, which may be at maturity.

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//320/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-6B Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-6B Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) -Publisher SEC Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//946-320/tableOfContent Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 940 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//940-320/tableOfContent Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//942-320/tableOfContent + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration