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Securities Available for Sale
 12 Months Ended
Jan. 31, 2014
Investments Debt And Equity Securities [Abstract]  
Securities Available for Sale

Note 3—Securities Available for Sale

Pursuant to our investment policy, securities available for sale include state and municipal securities with various contractual or anticipated maturity dates ranging from one month to three years. These securities are carried at fair value, with unrealized gains and losses reported as a component of accumulated other comprehensive income, net of taxes in shareholders’ equity until realized. Realized gains and losses from the sale of available for sale securities, if any, are determined on a specific identification basis. A decline in the fair value of any available for sale security below cost that is determined to be other than temporary will result in a write-down of its carrying amount to fair value. No such impairment charges were recorded for any period presented. All short-term investment securities have original maturities greater than 90 days.

 

The fair value, amortized cost and gross unrealized gains and losses of the securities are as follows:

 

     Amortized
Cost		      Gross
Unrealized
Gains		      Gross
Unrealized
Losses		      Fair Value  
(In thousands)                            

January 31, 2014

            

State and Municipal Obligations

    $ 18,729       $ 37       $ —        $ 18,766   
  

 

 

     

 

 

     

 

 

     

 

 

  
     Amortized
Cost		      Gross
Unrealized
Gains		      Gross
Unrealized
Losses		      Fair Value  

January 31, 2013

            

State and Municipal Obligations

    $ 8,499       $ 10       $ —        $ 8,509   
  

 

 

     

 

 

     

 

 

     

 

 

  

The contractual maturity dates of these securities are as follows:

 

     January 31,  
     2014      2013  
(In thousands)              

Less than one year

    $ 11,439       $ 5,986   

One to three years

      7,327         2,523   
  

 

 

     

 

 

  
   $ 18,766       $ 8,509   
  

 

 

     

 

 

  

Actual maturities are expected to differ from contractual dates as a result of sales or earlier issuer redemptions.