Derivative Instruments and Hedging Activities (Tables)

6 Months Ended

Jul. 31, 2011

Fair Values and Balance Sheet Presentation of Derivative Instruments

The fair values and balance sheet presentation of our derivative instruments as of July 31, 2011 are summarized as follows:

	Location		Asset Derivatives		Liability Derivatives
Derivatives designated as hedging instruments:
Cash flow forwards		Other receivables	$	—	$	(25	)
Derivatives not designated as hedging instruments:
Non-designated forwards		Other receivables		1,589		(533	)
Total derivatives			$	1,589	$	(558	)

The fair values and balance sheet presentation of our derivative instruments as of January 31, 2011 are summarized as follows:

	Location		Asset Derivatives		Liability Derivatives
Derivatives designated as hedging instruments:
Cash flow forwards		Other receivables	$	575	$	(414	)
Derivatives not designated as hedging instruments:
Non-designated forwards		Other receivables		1,125		(460	)
Total derivatives			$	1,700	$	(874	)

The Hedge Balance in Accumulated Other Comprehensive Income

The hedge balance in accumulated other comprehensive income was as follows:

As of	July 31, 2011			January 31, 2011
Accumulated OCI before tax effect	$	(56	)	$	69
Accumulated OCI after tax effect	$	(56	)	$	(2	)

Cash Flow Hedging

Pre-tax Effect of Derivative Instruments in Cash Flow Hedging Relationships on Income and Other Comprehensive Income (OCI)

The pre-tax effect of derivative instruments in cash flow hedging relationships on income and OCI for the six months ended July 31, 2011 is as follows:

Derivatives Designated as Hedging Instruments	Gain Recognized in OCI on Derivatives (Effective Portion)		Gain (loss) Reclassified from Accumulated OCI into Income (Effective Portion)				Gain Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)
	Amount		Location	Amount			Location	Amount
Cash flow forwards	$	265	Revenues	$	(612	)	Other expense, net	$	52
			Operating expenses		1,002
Total	$	265		$	390			$	52

The gain on cash flow forwards of $52 recognized in other expense, net for the six months ended July 31, 2011 is related to the time value exclusion of foreign currency forward contracts from our assessment of hedge effectiveness.

The pre-tax effect of derivative instruments in cash flow hedging relationships on income and OCI for the six months ended July 31, 2010 is as follows:

Derivatives Designated as Hedging Instruments	Loss Recognized in OCI on Derivatives (Effective Portion)			Loss Reclassified from Accumulated OCI into Income (Effective Portion)				Gain Recognized in Income on Derivatives (Ineffective Portion and Amount Excluded from Effectiveness Testing)
	Amount			Location	Amount			Location	Amount
Cash flow forwards	$	(2,577	)	Revenues	$	(29	)	Other expense, net	$	33
				Operating expenses		(4,021	)
Total	$	(2,577	)		$	(4,050	)		$	33

Derivatives not designated as hedging instruments

Effect of Derivative Instruments not Designated as Hedging Instruments on Income

The effect of derivative instruments not designated as hedging instruments on income is as follows:

Derivatives Not Designated as Hedging Instruments	Gain (Loss) Recognized in Income on Derivatives
	Location		Amount as of July 31, 2011		Amount as of July 31, 2010
Non-designated forwards		Other expense, net	$	1,797	$	(665	)