| Marketable Securities |
Marketable Securities The following is a summary of available-for-sale marketable securities, excluding those securities classified within cash and cash equivalents on the consolidated balance sheets:
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January 31, 2023 |
| (in thousands) |
Amortized Cost |
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Unrealized Gain |
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Unrealized Losses |
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Fair Value |
| Corporate bonds |
$ |
39,922 |
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$ |
8 |
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$ |
(68) |
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$ |
39,862 |
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| Municipal bonds |
12,429 |
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22 |
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— |
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12,451 |
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| U.S. government and agency securities |
128,898 |
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6 |
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(367) |
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$ |
128,537 |
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| Certificates of deposit |
59,545 |
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28 |
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(155) |
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$ |
59,419 |
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| Commercial paper |
150,131 |
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41 |
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(202) |
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149,970 |
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| Marketable securities |
$ |
390,925 |
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$ |
105 |
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$ |
(791) |
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$ |
390,239 |
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January 31, 2022 |
| (in thousands) |
Amortized Cost |
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Unrealized Gain |
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Unrealized Losses |
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Fair Value |
| Corporate bonds |
$ |
124,639 |
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$ |
1 |
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$ |
(163) |
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$ |
124,477 |
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| U.S. government and agency securities |
37,725 |
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— |
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(35) |
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37,690 |
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| Commercial paper |
48,818 |
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— |
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(2) |
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48,816 |
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| Marketable securities |
$ |
211,182 |
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$ |
1 |
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$ |
(200) |
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$ |
210,983 |
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As of January 31, 2023 and 2022, the maturities of available-for-sale marketable securities did not exceed 12 months.
The following table presents estimated fair value and gross unrealized losses of debt securities in an unrealized loss position for which an allowance for credit losses has not been recorded, aggregated by security category and length of time such securities have been in a continuous unrealized loss position as of January 31, 2023. There are no securities that have been in an unrealized loss position for greater than 12 months. There are no expected credit losses that have been recorded against the Company’s investment securities as of January 31, 2023.
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Less Than One Year |
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Fair Value |
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Gross Unrealized Losses |
| Corporate bonds |
$ |
39,862 |
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$ |
(68) |
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| U.S. government and agency securities |
$ |
128,537 |
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$ |
(367) |
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| Certificate of deposits |
$ |
59,419 |
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$ |
(155) |
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| Commercial paper |
$ |
149,970 |
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$ |
(202) |
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