v3.26.3
Note 7 - Debt Securities
 12 Months Ended
Jul. 31, 2026
Notes to Financial Statements  
Investment in Debt and Equity Securities and Other Trading Assets [Text Block]

Note 7—Debt Securities

 

The following is a summary of available-for-sale debt securities: 

 

(in thousands)

 

Amortized Cost

 

 

Gross Unrealized Gains

 

 

Gross Unrealized Losses

 

 

Fair Value

 

July 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury bills and notes

 

$

25,950

 

 

$

1

 

 

$

(9

)

 

$

25,942

 

Government sponsored enterprise notes

 

 

10,077

 

 

 

—

 

 

 

(17

)

 

 

10,060

 

Corporate bonds

 

 

2,747

 

 

 

-

 

 

 

(137

)

 

 

2,610

 

TOTAL

 

$

38,774

 

 

$

1

 

 

$

(163

)

 

$

38,612

 

July 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury bills and notes

 

$

12,953

 

 

$

—

 

 

$

(27

)

 

$

12,926

 

Government sponsored enterprise notes

 

 

5,554

 

 

 

—

 

 

 

(4

)

 

 

5,550

 

Corporate bonds

 

 

3,367

 

 

 

2

 

 

 

(196

)

 

 

3,173

 

TOTAL

 

$

21,874

 

 

$

2

 

 

$

(227

)

 

$

21,649

 

 

The gross unrealized losses in the table above are recorded in “Accumulated other comprehensive loss” in the consolidated balance sheets. As of  July 31, 2026, the Company determined that the unrealized losses were due to changes in interest rates or market liquidity and were not due to credit losses. In addition, as of  July 31, 2026 and 2025, the Company did not intend to sell any of the securities with unrealized losses, and it is not more likely than not that the Company will be required to sell any of these securities before recovery of the unrealized losses, which may be at maturity.

 

Proceeds from maturities and sales of debt securities and redemptions of equity investments were $43.3 million, $36.3 million, and $50.1 million in fiscal 2026, fiscal 2025, and fiscal 2024, respectively. Realized gains and realized losses from sales of debt securities were not material in fiscal 2026, fiscal 2025, or fiscal 2024.

 

The contractual maturities of the Company’s available-for-sale debt securities at  July 31, 2026 were as follows: 

 

(in thousands)

 

Fair Value

 

Within one year

 

$

36,727

 

After one year through five years

 

 

1,682

 

After five years through ten years

 

 

194

 

After ten years

 

 

9

 

TOTAL

 

$

38,612

 

 

The following table includes the fair value of the Company’s available-for-sale debt securities that were in an unrealized loss position:

 

(in thousands)

 

Unrealized Losses

 

 

Fair Value

 

July 31, 2026

 

 

 

 

 

 

 

 

U.S. Treasury bills and notes

 

$

9

 

 

$

25,941

 

Government sponsored enterprise notes

 

 

17

 

 

 

10,060

 

Corporate bonds

 

 

137

 

 

 

2,610

 

TOTAL

 

$

163

 

 

$

38,611

 

July 31, 2025

 

 

 

 

 

 

 

 

U.S. Treasury bills and notes

 

$

27

 

 

$

12,926

 

Government sponsored enterprise notes

 

 

4

 

 

 

5,550

 

Corporate bonds

 

 

196

 

 

 

2,976

 

TOTAL

 

$

227

 

 

$

21,452

 

 

 

The following available-for-sale debt securities included in the table above were in a continuous unrealized loss position for 12 months or longer:

 

(in thousands)

 

Unrealized Losses

 

 

Fair Value

 

July 31, 2026

 

 

 

​

 

 

 

​

U.S. Treasury bills and notes

 

$

7

 

 

$

338

 

Corporate bonds

 

 

134

 

 

 

2,332

 

TOTAL

 

$

141

 

 

$

2,670

 

July 31, 2025

 

 

 

​

 

 

 

​

U.S. Treasury bills and notes

 

$

19

 

 

$

329

 

Corporate bonds

 

 

195

 

 

 

2,967

 

TOTAL

 

$

214

 

 

$

3,296