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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jul. 31, 2021
Jul. 31, 2020
Jul. 31, 2021
Jul. 31, 2020
Cash flows from operating activities        
Net income $ 108,858 $ 93,551 $ 224,425 $ 180,121
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 6,880 7,317 13,508 15,195
Reduction of operating lease right-of-use assets 2,874 3,092 5,701 6,089
Accretion of discount on short-term investments 1,743 496 3,285 485
Stock-based compensation 62,385 49,366 110,874 86,273
Amortization of deferred costs 6,474 5,324 12,829 10,075
Deferred income taxes 6,953 (504) 12,195 (1,638)
Loss (gain) on foreign currency from mark-to-market derivative 2 (98) 433 (5)
Bad debt (recovery) expense (22) 514 137 121
Changes in operating assets and liabilities:        
Accounts receivable (21,409) 14,606 280,323 168,766
Unbilled accounts receivable 267 619 (3,894) (3,833)
Deferred costs (3,802) (5,793) (8,092) (9,135)
Income taxes payable (3,726) (3,141) (17) (4,991)
Prepaid expenses and other current and long-term assets (3,866) (11,683) (1,129) (11,132)
Accounts payable 5,031 914 (1,763) (3,516)
Accrued expenses and other current liabilities 2,216 125 9,183 2,816
Deferred revenue (49,783) (49,166) (57,959) (47,689)
Operating lease liabilities (2,913) (2,456) (5,661) (5,267)
Other long-term liabilities 903 2,237 3,072 4,757
Net cash provided by operating activities 119,065 105,320 597,450 387,492
Cash flows from investing activities        
Purchases of short-term investments (422,680) (267,749) (679,618) (456,567)
Maturities and sales of short-term investments 187,324 229,224 408,969 369,566
Acquisitions, net of cash acquired (2,133) 0 (2,133) 0
Long-term assets (5,325) (5,407) (7,981) (5,140)
Net cash used in investing activities (242,814) (43,932) (280,763) (92,141)
Cash flows from financing activities        
Changes in lease liabilities - finance leases (98) (251) (384) (499)
Proceeds from exercise of common stock options 20,851 9,278 37,942 19,059
Taxes paid related to net share settlement of equity awards (15,096) 0 (15,096) 0
Net cash provided by financing activities 5,657 9,027 22,462 18,560
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (180) 2,734 (2,945) 3,282
Net change in cash, cash equivalents, and restricted cash (118,272) 73,149 336,204 317,193
Cash, cash equivalents, and restricted cash at beginning of period 1,186,188 723,841 731,712 479,797
Cash, cash equivalents, and restricted cash at end of period 1,067,916 796,990 1,067,916 796,990
Cash, cash equivalents, and restricted cash at end of period:        
Cash and cash equivalents 1,064,731 795,782 1,064,731 795,782
Restricted cash included in other long-term assets 3,185 1,208 3,185 1,208
Cash, cash equivalents, and restricted cash at end of period 1,067,916 796,990 1,067,916 796,990
Supplemental disclosures of other cash flow information:        
Cash paid for income taxes, net of refunds 15,368 9,089 20,501 14,955
Excess tax benefits from employee stock plans 17,609 22,123 35,060 41,738
Non-cash investing activities:        
Changes in accounts payable and accrued expenses related to property and equipment purchases $ 104 $ 184 $ (2,826) $ 774