Notes Payable (Tables)

12 Months Ended

Jan. 31, 2017

Debt Instrument

Schedule of Long-term Debt Instruments

Notes payable consist of the following:

As of January 31,	2017			2016
4.00% Debentures	$	242,921		$	234,888
Other	5,188			5,188
Notes payable	248,109			240,076
4.00% Debentures, current portion	(242,921		)	—
Notes payable, long-term	$	5,188		$	240,076

Schedule of Maturities of Long-term Debt

Annual maturities of our notes payable are scheduled as follows:

Fiscal years ending January 31,
2019	$	2,000
2020	3,188
Thereafter (1)	252,957
Total	$	258,145

⁽¹⁾ The 4.00% Debentures are currently convertible at the option of the holders and would be due in fiscal year 2018 if converted.

4.00% Debentures due 2031

Debt Instrument

Redemption Prices

we may redeem some or all of the 4.00% Debentures for cash at the following redemption prices, expressed as a percentage of principal plus any accrued and unpaid interest:

Period	Redemption Price
Beginning on April 5, 2016 and ending on March 31, 2017	101.143	%
Beginning on April 1, 2017 and ending on March 31, 2018	100.571	%
On April 1, 2018 and thereafter	100.000	%

Principal Amount, Unamortized Debt Premium (Discount), Net Carrying Amount of the Liability Component, and Carrying Amount of the Equity Component

The principal amount, unamortized debt discount, unamortized debt issuance costs, net carrying amount of the liability component, and carrying amount of the equity component of the 4.00% Debentures are as follows:

As of January 31,	2017			2016
Principal amount	$	252,957		$	252,957
Unamortized debt discount	(8,926		)	(16,007		)
Unamortized debt issuance costs	(1,110		)	(2,062		)
Net carrying amount of the liability component	$	242,921		$	234,888
Equity component, net of debt issuance costs	$	42,518		$	42,518

Recognized Amounts in Interest Expense in the Consolidated Statement of Operations

We recognized the following amounts in interest expense in the consolidated statement of income related to the 4.00% Debentures:

Fiscal year ended January 31,	2017		2016		2015
Interest expense at the contractual interest rate	$	10,118	$	10,117	$	10,120
Amortization of debt discount	$	7,081	$	6,593	$	6,139
Amortization of debt issuance costs	$	952	$	952	$	952