Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measurements (Tables)

v2.4.0.8
Fair Value Measurements (Tables)
6 Months Ended
Jul. 31, 2013
Fair Value Disclosures [Abstract]  
Fair Value of Financial Assets and Liabilities Measured on Recurring Basis

Our financial assets and liabilities that are measured at fair value on a recurring basis as of July 31, 2013 and January 31, 2013 are as follows:

 

            Fair Value at July 31, 2013 Using  
     July 31,
2013
     Quoted
Prices in
Active
Markets for
Identical Assets
(Level 1)
     Significant
Other
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs

(Level 3)
 
     (Amounts in thousands)  

Financial assets:

           

Cash

   $ 109,721       $ 109,721       $ —         $ —     

Money market accounts (a)

     3,684         3,684         —           —     

Available for sale marketable securities:

           

Current marketable securities:

           

U.S. government agency issues

     5,022         5,022         —           —     

Non-current marketable securities:

           

U.S. government agency issues

     7,126         7,126         —           —     
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 125,553       $ 125,553       $ —         $ —     
  

 

 

    

 

 

    

 

 

    

 

 

 

Other liabilities:

           

Acquisition-related consideration (b)

   $ 2,435       $ —         $ —         $  2,435   
  

 

 

    

 

 

    

 

 

    

 

 

 

 

            Fair Value at January 31, 2013 Using  
     January 31,
2013
     Quoted
Prices in
Active
Markets for
Identical Assets

(Level 1)
     Significant
Other
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs

(Level 3)
 
     (Amounts in thousands)  

Financial assets:

           

Cash

   $ 104,109       $ 104,109       $ —         $ —     

Money market accounts (a)

     2,612         2,612         —           —     

Available for sale marketable securities:

           

Current marketable securities:

           

U.S. government agency issues

     6,104         6,104         —           —     

Non-current marketable securities:

           

U.S. government agency issues

     7,169         7,169         —           —     
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 119,994       $ 119,994       $ —         $ —     
  

 

 

    

 

 

    

 

 

    

 

 

 

Other liabilities:

           

Acquisition-related consideration (b)

   $ 5,656       $ —         $ —         $  5,656   
  

 

 

    

 

 

    

 

 

    

 

 

 

 

(a) Money market funds and U.S. government agency securities, included in cash and cash equivalents on the accompanying consolidated balance sheets, are valued at quoted market prices for identical instruments in active markets.
(b) The fair value of our contingent consideration arrangement is determined based on our evaluation as to the probability and amount of any earn-out that will be achieved based on expected future performance by the acquired entity, as well as the fair value of fixed purchase price.
Reconciliation of Liabilities Measured at Fair Value on Recurring Basis

The following table sets forth a reconciliation of liabilities measured at fair value on a recurring basis with the use of significant unobservable inputs (Level 3) for the six months ended July 31, 2013:

 

     Level 3
Accrued Contingent
Consideration
 
     (Amounts in thousands)  

Ending balance January 31, 2013

   $ 5,656   

Change in fair value of contingent consideration

     34   

Contingency payment

     (3,206

Translation adjustment

     (49
  

 

 

 

Ending balance July 31, 2013

   $ 2,435   
  

 

 

 
Summary of Available-for-Sale Securities

The following is a summary of available-for-sale securities, including the cost basis, aggregate fair value and gross unrealized gains and losses, for cash equivalents, short- and long-term marketable securities portfolio as of July 31, 2013 and January 31, 2013:

 

     Amortized
Cost
     Gross
Unrealized
Gains
     Gross
Unrealized
Losses
     Estimated
Fair Value
 
     (Amounts in thousands)  

July 31, 2013:

           

Cash

   $ 109,721       $ —         $ —         $ 109,721   

Cash equivalents

     3,684         —           —           3,684   
  

 

 

    

 

 

    

 

 

    

 

 

 

Cash and cash equivalents

     113,405         —           —           113,405   
  

 

 

    

 

 

    

 

 

    

 

 

 

U.S. government agency issues—short-term

     5,018         4         —           5,022   

U.S. government agency issues—long-term

     7,108         18         —           7,126   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total cash equivalents and marketable securities

   $ 125,531       $ 22       $ —         $ 125,553   
  

 

 

    

 

 

    

 

 

    

 

 

 

January 31, 2013:

           

Cash

   $ 104,109       $ —         $ —         $ 104,109   

Cash equivalents

     2,612         —           —           2,612   
  

 

 

    

 

 

    

 

 

    

 

 

 

Cash and cash equivalents

     106,721         —           —           106,721   
  

 

 

    

 

 

    

 

 

    

 

 

 

U.S. government agency issues—short-term

     6,043         61         —           6,104   

U.S. government agency issues—long-term

     7,147         22         —           7,169   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total cash equivalents and marketable securities

   $ 119,911       $ 83       $ —         $ 119,994   
  

 

 

    

 

 

    

 

 

    

 

 

 
Schedule of Contractual Maturities Available-for-Sale Investments

The following is a schedule of the contractual maturities of available-for-sale investments:

 

     Estimated
Fair Value
 

Maturity of one year or less

   $ 5,022   

Maturity between one and five years

     7,126   
  

 

 

 

Total

   $ 12,148