Fair Value Measurements (Tables)

6 Months Ended

Jul. 31, 2018

Fair Value Disclosures [Abstract]

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, 2018 (in thousands):  

	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Money market funds	$	66,114	$	—	$	—	$	66,114
Commercial paper		—		4,485		—		4,485
Corporate notes and bonds		—		3,034		—		3,034
U.S. agency obligations		—		11,128		—		11,128
U.S. treasury securities		—		29,967		—		29,967
Short-term investments:
Certificates of deposits		—		11,043		—		11,043
Asset-backed securities		—		85,945		—		85,945
Commercial paper		—		13,597		—		13,597
Corporate notes and bonds		—		151,523		—		151,523
Foreign government bonds		—		2,978		—		2,978
Mortgage backed securities		—		13,285		—		13,285
U.S. agency obligations		—		57,634		—		57,634
U.S. treasury securities		—		162,685		—		162,685
Foreign currency derivative contracts		—		59		—		59
Total	$	66,114	$	547,363	$	—	$	613,477
Liabilities
Foreign currency derivative contracts		—		160		—		160
Total	$	—	$	160	$	—	$	160

The following table presents the fair value hierarchy for financial assets measured at fair value on a recurring basis as of January 31, 2018 (in thousands):

	Level 1		Level 2		Level 3		Total
Assets
Cash equivalents:
Money market funds	$	25,820	$	—	$	—	$	25,820
Commercial paper		—		1,999		—		1,999
Corporate notes and bonds		—		2,080		—		2,080
U.S. treasury securities		—		8,000		—		8,000
Short-term investments:
Asset-backed securities		—		67,451		—		67,451
Commercial paper		—		19,914		—		19,914
Corporate notes and bonds		—		159,741		—		159,741
Foreign government bonds		—		1,486		—		1,486
Mortgage backed securities		—		11,480		—		11,480
U.S. agency obligations		—		71,131		—		71,131
U.S. treasury securities		—		110,576		—		110,576
Foreign currency derivative contracts		—		127		—		127
Total	$	25,820	$	453,985	$	—	$	479,805
Liabilities
Foreign currency derivative contracts		—		391		—		391
Total	$	—	$	391	$	—	$	391

Summary Fair Value of Outstanding Derivative Instruments

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

	July 31,		January 31,
	2018		2018
Notional amount of foreign currency derivative contracts	$	2,946	$	36,266
Fair value of foreign currency derivative contracts		3,047		36,531

Summary of Outstanding Balance Sheet Hedges

Details on outstanding balance sheet hedges are presented below as of the date shown below (in thousands):

		July 31,		January 31,
		2018		2018
Derivative Assets	Balance Sheet Location
Derivatives not designated as hedging instruments:
Foreign currency derivative contracts	Prepaid expenses and other current assets	$	59	$	127
Derivative Liabilities
Derivatives not designated as hedging instruments:
Foreign currency derivative contracts	Accrued expenses	$	160	$	391