| Fair Value Measurements on Recurring Basis |
The following table summarizes the fair value measurements of the Company’s cash, cash equivalents and short-term investments: | | | | | | | | | | | | | | | | | | Level 1 | | Level 2 | | Level 3 | | Total | | (in thousands) | Balance at January 31, 2015 | | | | | | | | Assets | | | | | | | | Cash and cash equivalents: | | | | | | | | Cash deposits with third-party financial institutions | $ | 122,634 |
| | $ | — |
| | $ | — |
| | $ | 122,634 |
| Money market funds | 27,815 |
| | — |
| | — |
| | 27,815 |
| Commercial paper | — |
| | 1,500 |
| | — |
| | 1,500 |
| Short-term investments: | | | | | | | | Corporate bonds | — |
| | 44,273 |
| | — |
| | 44,273 |
| U.S. government agency securities | — |
| | 79,542 |
| | — |
| | 79,542 |
| U.S. treasury bills | — |
| | 9,837 |
| | — |
| | 9,837 |
| Commercial paper | — |
| | 5,397 |
| | — |
| | 5,397 |
| Total | $ | 150,449 |
| | $ | 140,549 |
| | $ | — |
| | $ | 290,998 |
|
| | | | | | | | | | | | | | | | | | Level 1 | | Level 2 | | Level 3 | | Total | | (in thousands) | Balance at July 31, 2014 | | | | | | | | Assets | | | | | | | | Cash and cash equivalents: | | | | | | | | Cash deposits with third-party financial institutions | $ | 113,303 |
| | $ | — |
| | $ | — |
| | $ | 113,303 |
| Money market funds | 2,291 |
| | — |
| | — |
| | 2,291 |
| Commercial paper | — |
| | 3,000 |
| | — |
| | 3,000 |
| Short-term investments: | | | | | | | | Corporate bonds | — |
| | 55,033 |
| | — |
| | 55,033 |
| U.S. government agency securities | — |
| | 90,640 |
| | — |
| | 90,640 |
| U.S. treasury bills | — |
| | 14,577 |
| | — |
| | 14,577 |
| Commercial paper | — |
| | 4,591 |
| | — |
| | 4,591 |
| Municipal notes and bonds | — |
| | 1,518 |
| | — |
| | 1,518 |
| Total | $ | 115,594 |
| | $ | 169,359 |
| | $ | — |
| | $ | 284,953 |
|
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