Fair Value Measurement (Policies)

12 Months Ended

Jan. 31, 2017

The FASB's authoritative guidance for the hierarchy of valuation techniques is based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources. Unobservable inputs reflect our market assumptions. The fair value hierarchy consists of the following three levels:


•	Level 1—Quoted prices for identical instruments in active markets;


•	Level 2—Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations whose significant inputs are observable; and


•	Level 3—One or more significant inputs to the valuation model are unobservable.

We base the fair value of money market funds included in cash equivalents on directly observable prices in markets that are active (Level 1).

We base the fair value of bank time deposits included in cash equivalents on quoted market prices for similar instruments in markets that are not active (Level 2).

Contingent consideration

We have estimated the fair value of our contingent consideration as the present value of the expected payments over the term of the arrangements.

Notes payable fair value determination

We based the fair value of our 4.00% Debentures on the quoted market price at the balance sheet date. Our notes are not actively traded and the quoted market price is derived from observable inputs including our stock price, stock volatility, and interest rate (Level 2). We believe the carrying value of other notes payable of $5,188 at January 31, 2017 and January 31, 2016 approximated fair value.