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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Oct. 31, 2023
Oct. 31, 2022
Oct. 31, 2023
Oct. 31, 2022
Cash flows from operating activities        
Net income $ 135,158 $ 108,457 $ 378,307 $ 299,173
Adjustments to reconcile net income to net cash provided by operating activities:        
Depreciation and amortization 8,364 7,157 24,000 21,443
Reduction of operating lease right-of-use assets 2,860 3,094 8,885 9,062
Accretion of discount on short-term investments (8,515) (1,565) (19,298) (1,016)
Stock-based compensation 101,226 93,187 294,840 256,363
Amortization of deferred costs 3,542 5,378 12,843 17,107
Deferred income taxes (33,405) (31,056) (80,132) (84,369)
Loss on foreign currency from mark-to-market derivative 1,388 7 841 1,193
Bad debt expense 134 1,089 630 1,210
Changes in operating assets and liabilities:        
Accounts receivable 123,428 69,272 446,921 387,066
Unbilled accounts receivable (7,296) (4,307) 37,337 (18,819)
Deferred costs (812) (5,376) (751) (11,876)
Prepaid expenses and other current and long-term assets (16,051) 7,326 (6,806) (3,750)
Accounts payable (13,556) 10,002 (5,502) 20,663
Accrued expenses and other current liabilities (8,443) 5,465 (9,572) 2,654
Income taxes payable (17,583) 49,323 1,614 46,705
Deferred revenue (192,037) (174,544) (228,120) (222,013)
Operating lease liabilities 27 (2,624) (4,263) (7,736)
Other long-term liabilities 4,169 2,375 1,796 4,013
Net cash provided by operating activities 82,598 142,660 853,570 717,073
Cash flows from investing activities        
Purchases of short-term investments (541,502) (710,833) (2,142,068) (1,716,250)
Maturities and sales of short-term investments 474,088 310,713 1,170,881 757,434
Long-term assets (5,910) (5,609) (18,461) (9,605)
Net cash used in investing activities (73,324) (405,729) (989,648) (968,421)
Cash flows from financing activities        
Proceeds from exercise of common stock options 13,956 4,575 52,184 30,116
Taxes paid related to net share settlement of equity awards (20,845) (15,118) (57,888) (47,251)
Net cash used in financing activities (6,889) (10,543) (5,704) (17,135)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash (1,282) (1,475) (973) (4,398)
Net change in cash, cash equivalents, and restricted cash 1,103 (275,087) (142,755) (272,881)
Cash, cash equivalents, and restricted cash at beginning of period 745,792 1,143,431 889,650 1,141,225
Cash, cash equivalents, and restricted cash at end of period 746,895 868,344 746,895 868,344
Cash, cash equivalents, and restricted cash at end of period:        
Cash and cash equivalents 743,712 865,159 743,712 865,159
Restricted cash included in other long-term assets 3,183 3,185 3,183 3,185
Cash, cash equivalents, and restricted cash at end of period 746,895 868,344 746,895 868,344
Supplemental disclosures of other cash flow information:        
Cash paid for income taxes, net of refunds 93,590 2,936 100,856 110,708
Excess tax benefits from employee stock plans 3,275 888 68,575 5,981
Non-cash investing activities:        
Changes in accounts payable and accrued expenses related to property and equipment purchases $ 1,146 $ (17) $ 100 $ (458)