Notes Payable (Tables)

6 Months Ended

Jul. 31, 2016

Debt Instrument

Schedule of Long-term Debt Instruments

Notes payable consist of the following:

As of	July 31, 2016		January 31, 2016
4.00% Debentures	$	238,841	$	234,888
Other	5,188		5,188
Notes payable	$	244,029	$	240,076

4.00% Debentures due 2031

Debt Instrument

Redemption prices

we may redeem some or all of the 4.00% Debentures for cash at the following redemption prices, expressed as a percentage of principal plus any accrued and unpaid interest:

Period	Redemption Price
Beginning on April 5, 2016 and ending on March 31, 2017	101.143	%
Beginning on April 1, 2017 and ending on March 31, 2018	100.571	%
On April 1, 2018 and thereafter	100.000	%

Principal amount, unamortized debt premium (discount), unamortized debt issuance costs, net carrying amount of the liability component, and carrying amount of the equity component

The principal amount, unamortized debt discount, unamortized debt issuance costs, net carrying amount of the liability component, and carrying amount of the equity component of the 4.00% Debentures are as follows:

As of	July 31, 2016			January 31, 2016
Principal amount	$	252,957		$	252,957
Unamortized debt discount	(12,530		)	(16,007		)
Unamortized debt issuance costs	(1,586		)	(2,062		)
Net carrying amount of the liability component	$	238,841		$	234,888
Equity component, net of debt issuance costs	$	42,518		$	42,518

Recognized amounts in interest expense in the condensed consolidated statement of income related to debentures

We recognized the following amounts in interest expense in the condensed consolidated statement of income related to the 4.00% Debentures:

	Three months ended July 31,				Six months ended July 31,
	2016		2015		2016		2015
Interest expense at the contractual interest rate	$	2,530	$	2,530	$	5,059	$	5,060
Amortization of debt discount	$	1,754	$	1,633	$	3,477	$	3,237
Amortization of debt issuance costs	$	238	$	238	$	476	$	476