Short-Term Investments (Tables)

9 Months Ended

Oct. 31, 2023

Investments, Debt and Equity Securities [Abstract]

Schedule of Short-Term Investments

As of October 31, 2023, short-term investments consisted of the following (in thousands):

	Amortized cost		Gross unrealized gains		Gross unrealized losses		Estimated fair value
Available-for-sale securities:
Certificates of deposits	$	111,560	$	21	$	(98)	$	111,483
Asset-backed securities	576,705		86		(6,289)		570,502
Commercial paper	193,975		1		(203)		193,773
Corporate notes and bonds	1,424,054		344		(19,026)		1,405,372
Foreign government bonds	32,371		—		(422)		31,949
Municipal securities	73,217		6		(803)		72,420
U.S. agency obligations	49,169		—		(256)		48,913
U.S. treasury securities	774,397		4		(10,243)		764,158
Total available-for-sale securities	$	3,235,448	$	462	$	(37,340)	$	3,198,570

As of January 31, 2023, short-term investments consisted of the following (in thousands):

	Amortized cost		Gross unrealized gains		Gross unrealized losses		Estimated fair value
Available-for-sale securities:
Certificates of deposits	$	37,998	$	31	$	(66)	$	37,963
Asset-backed securities	448,081		585		(5,708)		442,958
Commercial paper	155,097		8		(580)		154,525
Corporate notes and bonds	1,224,195		1,649		(17,880)		1,207,964
Foreign government bonds	24,654		13		(516)		24,151
U.S. agency obligations	32,995		4		(594)		32,405
U.S. treasury securities	321,946		265		(6,014)		316,197
Total available-for-sale securities	$	2,244,966	$	2,555	$	(31,358)	$	2,216,163

Schedule of Estimated Fair Value of Short-Term Investments, Designated as Available-for-Sale and Classified by Contractual Maturity

The following table summarizes the estimated fair value of our short-term investments, designated as available-for-sale and classified by the contractual maturity date of the securities as of the dates shown (in thousands):

	October 31, 2023		January 31, 2023
Due in one year or less	$	1,112,466	$	849,673
Due in greater than one year	2,086,104		1,366,490
Total	$	3,198,570	$	2,216,163

Schedule of Fair Values and Gross Unrealized Loss Position of Available-for-Sale Securities Aggregated by Investment Category

The following table shows the fair values of available-for-sale securities which were in an unrealized loss position, aggregated by investment category, as of October 31, 2023 (in thousands):

	12 months or less				Greater than 12 months
	Fair value		Gross unrealized losses		Fair value		Gross unrealized losses
Certificates of deposits	$	54,902	$	(98)	$	—	$	—
Asset-backed securities	404,973		(3,469)		135,578		(2,820)
Commercial paper	180,899		(203)		—		—
Corporate notes and bonds	923,724		(11,218)		363,115		(7,808)
Foreign government bonds	22,269		(158)		9,680		(264)
Municipal securities	56,692		(547)		14,214		(256)
U.S. agency obligations	43,946		(223)		4,967		(33)
U.S. treasury securities	542,832		(5,613)		218,152		(4,630)

The following table shows the fair values of available-for-sale securities which were in an unrealized loss position, aggregated by investment category, as of January 31, 2023 (in thousands):

	12 months or less				Greater than 12 months
	Fair value		Gross unrealized losses		Fair Value		Gross unrealized losses
Certificates of deposits	$	15,934	$	(66)	$	—	$	—
Asset-backed securities	293,854		(3,219)		78,279		(2,489)
Commercial paper	144,741		(580)		—		—
Corporate notes and bonds	604,264		(6,801)		370,969		(11,079)
Foreign government bonds	11,284		(126)		11,827		(390)
U.S. agency obligations	4,941		(61)		24,461		(533)
U.S. treasury securities	210,246		(3,661)		63,422		(2,353)