Fair Value Measurements (Tables)

6 Months Ended

Jul. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Fair Value Hierarchy for Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents the fair value hierarchy for financial assets measured at fair value on a recurring basis as of July 31, 2023 (in thousands):

	Level 1		Level 2		Total
Assets
Cash equivalents:
Money market funds	$	110,330	$	—	$	110,330
U.S. Treasury securities	—		24,898		24,898
Short-term investments:
Certificates of deposit	—		129,411		129,411
Asset-backed securities	—		543,706		543,706
Commercial paper	—		212,695		212,695
Corporate notes and bonds	—		1,322,622		1,322,622
Foreign government bonds	—		26,755		26,755
Municipal securities	—		64,870		64,870
U.S. agency obligations	—		40,467		40,467
U.S. Treasury securities	—		785,606		785,606
Foreign currency derivative contracts	—		798		798
Total financial assets	$	110,330	$	3,151,828	$	3,262,158

The following table presents the fair value hierarchy for financial assets measured at fair value on a recurring basis as of January 31, 2023 (in thousands):

	Level 1		Level 2		Total
Assets
Cash equivalents:
Money market funds	$	180,895	$	—	$	180,895
U.S. Treasury securities	—		22,929		22,929
Corporate notes and bonds	—		6,691		6,691
Short-term investments:
Certificates of deposit	—		37,963		37,963
Asset-backed securities	—		442,958		442,958
Commercial paper	—		154,525		154,525
Corporate notes and bonds	—		1,207,964		1,207,964
Foreign government bonds	—		24,151		24,151
U.S. agency obligations	—		32,405		32,405
U.S. Treasury securities	—		316,197		316,197
Foreign currency derivative contracts	—		251		251
Total financial assets	$	180,895	$	2,246,034	$	2,426,929

Schedule of Fair Value of Outstanding Derivative Instruments

The fair value of our outstanding derivative instruments is summarized below (in thousands): 

	July 31, 2023		January 31, 2023
Notional amount of foreign currency derivative contracts	$	66,938	$	137,998
Fair value of foreign currency derivative contracts	66,116		137,860