Investments

6 Months Ended

Aug. 01, 2020

Schedule of Investments [Abstract]

Investments

Investments

Cash Equivalents

Investments classified as cash equivalents relate to highly-liquid investments with a maturity of three months or less at the date of purchase. As of August 1, 2020 and February 1, 2020, these investments in the Company's portfolio consisted of a money market fund. The balance as of February 1, 2020 also included commercial paper.

Short-Term Investments

As of August 1, 2020 and February 1, 2020 short-term investments consisted of U.S. and non-U.S. corporate debt securities with a maturity within one year of the balance sheet date. The balance as of February 1, 2020 also included commercial paper, municipal securities, and U.S. asset-backed securities. These debt securities are classified as available-for-sale; therefore, unrealized gains and losses are recorded within other comprehensive income. Interest income earned is recorded within interest income, net, in the Company's Condensed Consolidated Statements of Operations.

The Company held $0.8 million and $9.0 million in short-term investments as of August 1, 2020 and February 1, 2020, respectively. The following table summarizes the Company's short-term investments (in thousands):

	August 1, 2020		February 1, 2020
U.S. corporate debt securities	$	477	$	3,435
Commercial paper	—		2,489
Municipal securities	—		1,594
Non-U.S. corporate debt securities	341		1,136
U.S. asset-backed securities	—		323
Total short-term investments	$	818	$	8,977

Long-Term Investments

As of August 1, 2020 and February 1, 2020, long-term investments consisted of U.S. and non-U.S. corporate debt securities with a maturity greater than one year from the balance sheet date. The balance as of February 1, 2020 also included U.S. and non-U.S. asset-backed securities and other foreign securities. These debt securities are classified as available-for-sale; therefore, unrealized gains and losses are recorded within other comprehensive income. Interest income earned is recorded within interest income, net, in the Company's Condensed Consolidated Statements of Operations.

The Company held $0.7 million and $14.9 million in long-term investments as of August 1, 2020 and February 1, 2020, respectively. The following table summarizes the Company's long-term investments (in thousands):

	August 1, 2020		February 1, 2020
U.S. corporate debt securities	$	401	$	5,613
U.S. asset-backed securities	—		5,498
Non-U.S. corporate debt securities	328		2,409
Other foreign securities	—		810
Non-U.S. asset-backed securities	—		582
Total long-term investments	$	729	$	14,912

There were no material gross unrealized gains or losses on available-for-sale debt securities as of August 1, 2020 and February 1, 2020.