Investments

Cash and cash equivalents includes investments in money market funds that are valued based on the net asset value of the funds. The cash equivalents consist primarily of money market funds that are Level 1 measurements. The investments in these funds were $17.0 million and $16.9 million as of April 30, 2017 and January 29, 2017, respectively.

The following table summarizes the Company’s available-for-sale securities:



	April 30, 2017						January 29, 2017
(in thousands)	Market Value		Adjusted Cost		Gross Unrealized Gain		Market Value		Adjusted Cost		Gross Unrealized Gain
Convertible debt	$	2,175	$	2,175	$	750	$	1,425	$	1,425	$	—
Other current assets	$	2,175	$	2,175	$	750	$	1,425	$	1,425	$	—

The following table summarizes the maturities of the Company’s available-for-sale securities:



	April 30, 2017				January 29, 2017
(in thousands)	Market Value		Adjusted Cost		Market Value		Adjusted Cost
Within 1 year	$	2,175	$	2,175	$	1,425	$	1,425
After 1 year through 5 years	—		—		—		—
Other current assets	$	2,175	$	2,175	$	1,425	$	1,425

Unrealized gains and losses are the result of fluctuations in the market value of the Company’s available-for-sale securities and are included in “Accumulated other comprehensive income” within the Balance Sheets. For all periods presented, there were no unrealized gains or losses on the Company's available-for-sale securities.

The Company's available-for-sales securities consist of an investment in a convertible debt instrument issued by a privately-held company and has been included in "Other current assets" within the Balance Sheets.

The Company currently has a $21.0 million investment in a private entity, which includes $5.0 million of restricted deposits that is accounted for at cost, and included in "Other assets" within the Balance Sheets. As part of its investment, the Company received a call option that allows the Company to purchase all of the outstanding equity of the entity. The call option, which was out-of-the-money at inception, is exercisable until June 30, 2018.