Investments (Tables)

9 Months Ended

Oct. 31, 2014

Investments Schedule [Abstract]

Schedule Of Marketable Securities

At October 31, 2014, marketable securities consisted of the following (in thousands):

Investments classified as Marketable Securities	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Corporate notes and obligations	$	596,671	$	2,186	$	(439	)	$	598,418
U.S. treasury securities	56,563		94		(28		)	56,629
Mortgage backed obligations	46,629		192		(302		)	46,519
Asset backed securities	125,599		88		(43		)	125,644
Municipal securities	38,976		38		(79		)	38,935
Foreign government obligations	20,031		309		0			20,340
U.S. agency obligations	17,987		12		(16		)	17,983
Covered bonds	75,089		1,395		0			76,484
Total marketable securities	$	977,545	$	4,314	$	(907	)	$	980,952

At January 31, 2014, marketable securities consisted of the following (in thousands):

Investments classified as Marketable Securities	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
Corporate notes and obligations	$	340,706	$	1,314	$	(170	)	$	341,850
U.S. treasury securities	16,016		28		0			16,044
Mortgage backed obligations	24,888		281		(93		)	25,076
Asset backed securities	38,213		39		(35		)	38,217
Municipal securities	2,000		1		(3		)	1,998
Foreign government obligations	24,305		171		(2		)	24,474
U.S. agency obligations	14,726		9		(10		)	14,725
Covered bonds	76,282		717		(1		)	76,998
Total marketable securities	$	537,136	$	2,560	$	(314	)	$	539,382

Schedule of Short-Term and Long-Term Marketable Securities

The duration of the investments classified as marketable securities is as follows (in thousands):

	As of
	October 31, 2014		January 31, 2014
Recorded as follows:
Short-term (due in one year or less)	$	79,779	$	57,139
Long-term (due after one year)	901,173		482,243
	$	980,952	$	539,382

Schedule Of Marketable Securities In An Unrealized Loss Position

As of October 31, 2014, the following marketable securities were in an unrealized loss position (in thousands):

	Less than 12 Months					12 Months or Greater					Total
	Fair Value		Unrealized Losses			Fair Value		Unrealized Losses			Fair Value		Unrealized Losses
Corporate notes and obligations	$	206,762	$	(410	)	$	3,276	$	(29	)	$	210,038	$	(439	)
U.S. treasury securities	25,671		(28		)	0		0			25,671		(28		)
Mortgage backed obligations	30,652		(281		)	1,399		(21		)	32,051		(302		)
Asset backed securities	45,589		(38		)	2,357		(5		)	47,946		(43		)
Municipal securities	22,391		(79		)	0		0			22,391		(79		)
U.S. agency obligations	9,980		(16		)	0		0			9,980		(16		)
	$	341,045	$	(852	)	$	7,032	$	(55	)	$	348,077	$	(907	)

Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis

The following table presents information about the Company’s assets and liabilities that are measured at fair value as of October 31, 2014 and indicates the fair value hierarchy of the valuation (in thousands):

Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant  Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balances as of October 31, 2014
Cash equivalents (1):
Time deposits	$	0	$	129,590	$	0	$	129,590
Money market mutual funds	40,368		0		0		40,368
Marketable securities:
Corporate notes and obligations	0		598,418		0		598,418
U.S. treasury securities	0		56,629		0		56,629
Mortgage backed obligations	0		46,519		0		46,519
Asset backed securities	0		125,644		0		125,644
Municipal securities	0		38,935		0		38,935
Foreign government obligations	0		20,340		0		20,340
U.S. agency obligations	0		17,983		0		17,983
Covered bonds	0		76,484		0		76,484
Foreign currency derivative contracts (2)	0		667		0		667
Total Assets	$	40,368	$	1,111,209	$	0	$	1,151,577
Liabilities
Foreign currency derivative contracts (3)	$	0	$	1,558	$	0	$	1,558
Total Liabilities	$	0	$	1,558	$	0	$	1,558

_____________ 

(1)Included in “cash and cash equivalents” in the accompanying condensed consolidated balance sheet as of October 31, 2014, in addition to $676.4 million of cash.

(2)Included in “prepaid expenses and other current assets” in the accompanying condensed consolidated balance sheet as of October 31, 2014.

(3)Included in “accounts payable, accrued expenses and other liabilities” in the condensed consolidated balance sheet as of October 31, 2014.

The following table presents information about the Company’s assets and liabilities that are measured at fair value as of January 31, 2014 and indicates the fair value hierarchy of the valuation (in thousands):

Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Balances as of January 31, 2014
Cash equivalents (1):
Time deposits	$	0	$	212,700	$	0	$	212,700
Money market mutual funds	87,898		0		0		87,898
Marketable securities:
Corporate notes and obligations	0		341,850		0		341,850
U.S. treasury securities	0		16,044		0		16,044
Mortgage backed obligations	0		25,076		0		25,076
Asset backed securities	0		38,217		0		38,217
Municipal securities	0		1,998		0		1,998
Foreign government obligations	0		24,474		0		24,474
U.S. agency obligations	0		14,725		0		14,725
Covered bonds	0		76,998		0		76,998
Foreign currency derivative contracts (2)	0		1,598		0		1,598
Total Assets	$	87,898	$	753,680	$	0	$	841,578
Liabilities
Foreign currency derivative contracts (3)	$	0	$	1,801	$	0	$	1,801
Total Liabilities	$	0	$	1,801	$	0	$	1,801

______________ 

(1)Included in “cash and cash equivalents” in the accompanying condensed consolidated balance sheet as of January 31, 2014, in addition to $481.0 million of cash.

(2)Included in “prepaid expenses and other current assets” in the accompanying condensed consolidated balance sheet as of January 31, 2014.

(3)Included in “accounts payable, accrued expenses and other liabilities” in the accompanying condensed consolidated balance sheet as of January 31, 2014.

Schedule Of Outstanding Foreign Currency Derivative Contracts Related Primarily To Intercompany Receivables And Payables

Details on outstanding foreign currency derivative contracts related primarily to intercompany receivables and payables are presented below (in thousands):

	As of
	October 31, 2014			January 31, 2014
Notional amount of foreign currency derivative contracts	$	661,238		$	563,060
Fair value of foreign currency derivative contracts	$	(891	)	$	(203	)

Fair Value Of Outstanding Derivative Instruments

The fair value of the Company’s outstanding derivative instruments are summarized below (in thousands):

		Fair Value of Derivative Instruments
		As of
	Balance Sheet Location	October 31, 2014		January 31, 2014
Derivative Assets
Derivatives not designated as hedging instruments:
Foreign currency derivative contracts	Prepaid expenses and other current assets	$	667	$	1,598
Derivative Liabilities
Derivatives not designated as hedging instruments:
Foreign currency derivative contracts	Accounts payable, accrued expenses and other liabilities	$	1,558	$	1,801

Schedule Of The Effect Of The Derivative Instruments Not Designated As Hedging Instruments On The Condensed Consolidated Statements Of Operations

The effect of the derivative instruments not designated as hedging instruments on the condensed consolidated statements of operations during the three and nine months ended October 31, 2014 and 2013, respectively, are summarized below (in thousands):

Derivatives Not Designated as Hedging Instruments	Gains (Losses) on Derivative Instruments Recognized in Income
		Three Months Ended   October 31,
	Location	2014			2013
Foreign currency derivative contracts	Other expense	$	(3,068	)	$	4,523

Derivatives Not Designated as Hedging Instruments	Gains (Losses) on Derivative Instruments Recognized in Income
		Nine Months Ended   October 31,
	Location	2014			2013
Foreign currency derivative contracts	Other expense	$	(2,964	)	$	2,468

Schedule Of Components Of Investment Income

Investment income consists of interest income, realized gains, and realized losses on the Company’s cash, cash equivalents and marketable securities. The components of investment income are presented below (in thousands):

	Three Months Ended   October 31,						Nine Months Ended   October 31,
	2014			2013			2014			2013
Interest income	$	2,720		$	1,258		$	7,051		$	8,029
Realized gains	78			332			424			5,732
Realized losses	(176		)	(480		)	(420		)	(4,910		)
Total investment income	$	2,622		$	1,110		$	7,055		$	8,851