Investments in Marketable Securities

6 Months Ended

Jul. 31, 2017

Investments, Debt and Equity Securities [Abstract]

The Company considers all of its marketable securities as available for use in current operations, including those with maturity dates beyond one year, and therefore classifies these securities within current assets on the condensed consolidated balance sheets. Marketable securities are carried at fair value, with the unrealized gains and losses, net of income taxes, reflected in accumulated other comprehensive income until realized. For the purposes of computing realized and unrealized gains and losses, cost is determined on a specific identification basis.

As of July 31, 2017, investments in marketable securities consisted of the following (in thousands):



	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Marketable securities
Commercial paper	$	15,386	$	—	$	(10	)	$	15,376
Corporate bonds	79,060		5		(55		)	79,010
Total marketable securities	$	94,446	$	5	$	(65	)	$	94,386

The Company does not believe the unrealized losses represent other-than-temporary impairments based on its evaluation of available evidence as of July 31, 2017. No marketable securities held as of July 31, 2017 have been in a continuous unrealized loss position for more than 12 months. As of January 31, 2017, the Company had no investments in marketable securities.

The Company's marketable securities have a contractual maturity of two years or less. The fair values of marketable securities, by remaining contractual maturity, as of July 31, 2017, were as follows (in thousands):



Due within 1 year	$	48,496
Due in 1 year through 2 years	45,890
Total marketable securities	$	94,386

Interest income, realized gains, realized losses and other-than-temporary declines in fair value on securities available for sale are included as components of investment income. Investment income is presented below (in thousands):



	Three months ended July 31,				Six months ended July 31,
	2017		2016		2017		2016
Interest income	$	322	$	14	322		$	26
Total investment income	$	322	$	14	$	322	$	26

The Company had no realized gains or realized losses in any of the periods presented. The Company has no reclassification adjustments out of accumulated other comprehensive loss into net loss in any of the periods presented.