Debt Securities

6 Months Ended

Jan. 31, 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)
January 31, 2020:
Certificates of deposit*	$	8,750	$	—	$	—	$	8,750
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 $1.9 million and $2.2 million in the three months ended January 31, 2020 and 2019, respectively, and $2.7 million and $5.6 million in the six months ended January 31, 2020 and 2019, respectively. There were no realized gains or realized losses from sales of debt securities in the three and six months ended January 31, 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 January 31, 2020 were as follows:

	Fair Value
	(in thousands)
Within one year	$	7,550
After one year through five years		1,200
After five years through ten years		—
After ten years		—
Total	$	8,750