Debt Securities

12 Months Ended

Jul. 31, 2019

Investments, Debt and Equity Securities [Abstract]

Debt Securities

Note 7—Debt Securities

The following is a summary of marketable debt securities:

(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale securities:
July 31, 2019
Certificates of deposit*	$	2,234	$	—	$	—		$	2,234
Municipal bonds		300		—		—			300
TOTAL	$	2,534	$	—	$	—		$	2,534
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 has 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 current "Equity investments" to conform to the current year presentation (see Note 8).

Proceeds from maturities and sales of available-for-sale securities were $5.3 million, $41.5 million and $48.0 million in fiscal 2019, fiscal 2018 and fiscal 2017, respectively. Realized gains from sales of available-for-sale securities were nil, nil and $0.3 million in fiscal 2019, fiscal 2018 and fiscal 2017, respectively. Realized losses from sales of available-for-sale securities were nil, $16,000 and nil in fiscal 2019, fiscal 2018 and fiscal 2017, respectively.

The contractual maturities of the Company's available-for-sale debt securities at July 31, 2019 were as follows:

(in thousands)	Fair Value
Within one year	$	2,534
After one year through five years		—
After five years through ten years		—
After ten years		—
TOTAL	$	2,534

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, 2018
U.S. Treasury notes	$	1	$	1,692

At July 31, 2019 and 2018, there were no securities in a continuous unrealized loss position for 12 months or longer.