Securities Available for Sale

12 Months Ended

Jan. 31, 2017

Investments, Debt and Equity Securities [Abstract]

Securities Available for Sale

Note 4—Securities Available for Sale

Pursuant to our investment policy, securities available for sale include state and municipal securities with various contractual or anticipated maturity dates ranging from one month to two years. These securities are carried at fair value, with unrealized gains and losses reported as a component of accumulated other comprehensive income (loss), net of taxes in shareholders’ equity until realized. Realized gains and losses from the sale of available for sale securities, if any, are determined on a specific identification basis. A decline in the fair value of any available for sale security below cost that is determined to be other than temporary will result in a write-down of its carrying amount to fair value. No such impairment charges were recorded for any period presented. All short-term investment securities have original maturities greater than 90 days.

The fair value, amortized cost and gross unrealized gains and losses of the securities are as follows:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
(In thousands)
January 31, 2017
State and Municipal Obligations	$	6,732	$	—	$	(9	)	$	6,723
January 31, 2016
State and Municipal Obligations	$	10,363	$	15	$	(2	)	$	10,376

The contractual maturity dates of these securities are as follows:

	January 31
	2017		2016
(In thousands)
Less than one year	$	3,563	$	3,833
One to two years		3,160		6,543
	$	6,723	$	10,376

Actual maturities may differ from contractual dates as a result of revenue or earlier issuer redemptions.