Marketable Securities

3 Months Ended

May 02, 2020

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

Marketable Securities

Marketable securities as of May 2, 2020 consisted of commercial paper, classified as available-for-sale, and fixed income securities, classified as held-to-maturity as we have the intent and ability to hold them to maturity. Our investments in commercial paper and fixed income securities are recorded at fair value and amortized cost, respectively, which approximates fair value. All of our marketable securities are less than one year from maturity.

The following table summarizes our investments in marketable securities at May 2, 2020, February 1, 2020 and May 4, 2019 (in thousands):

	May 2, 2020
	Cost or Amortized Cost		Gross Unrealized Holding Gains		Estimated Fair Value
Commercial paper	$	34,698	$	275	$	34,973
Fixed income securities	11,008		—		11,008
	$	45,706	$	275	$	45,981
	February 1, 2020
	Cost or Amortized Cost		Gross Unrealized Holding Gains		Estimated Fair Value
Commercial paper	$	54,463	$	293	$	54,756
Fixed income securities	15,024		—		15,024
	$	69,487	$	293	$	69,780
	May 4, 2019
	Cost or Amortized Cost		Gross Unrealized Holding Gains		Estimated Fair Value
Commercial paper	$	49,361	$	215	$	49,576
Fixed income securities	26,377		—		26,377
	$	75,738	$	215	$	75,953

We recognized gains on investments for commercial paper that matured during the thirteen week periods ended May 2, 2020 and May 4, 2019. Upon recognition of the gains, we reclassified these amounts out of Accumulated Other Comprehensive Income and into “Other income, net” on the Consolidated Statements of (Loss) Income.

The following table summarizes our gains on investments for commercial paper (in thousands):

	Thirteen Weeks Ended
	May 2, 2020		May 4, 2019
Gains on investments	$	252	$	387