Fair Value Measurements (Tables)

9 Months Ended

Oct. 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 and liabilities measured at fair value on a recurring basis as of October 31, 2023 (in thousands):

	Level 1		Level 2		Total
Assets
Cash equivalents:
Money market funds	$	150,895	$	—	$	150,895
U.S. Treasury securities	—		15,978		15,978
Short-term investments:
Certificates of deposit	—		111,483		111,483
Asset-backed securities	—		570,502		570,502
Commercial paper	—		193,773		193,773
Corporate notes and bonds	—		1,405,372		1,405,372
Foreign government bonds	—		31,949		31,949
Municipal securities	—		72,420		72,420
U.S. agency obligations	—		48,913		48,913
U.S. Treasury securities	—		764,158		764,158
Foreign currency derivative contracts	—		14		14
Total financial assets	$	150,895	$	3,214,562	$	3,365,457
Liabilities
Foreign currency derivative contracts	$	—	$	(693)	$	(693)
Total financial liabilities	$	—	$	(693)	$	(693)

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): 

	October 31, 2023		January 31, 2023
Notional amount of foreign currency derivative contracts	$	79,128	$	137,998
Fair value of foreign currency derivative contracts	79,807		137,860