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v3.23.2

Financial Assets and Liabilities (Tables) | 9 Months Ended
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Jul. 31, 2023
Financial Assets And Liabilities [Abstract] |
Summary of Cash Equivalents and Short-Term Investments | As of July 31, 2023, the balances of our cash equivalents and short-term investments were as follows:
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses Less Than 12 Continuous Months |  | Gross Unrealized Losses 12 Continuous Months or Longer |  | Estimated Fair Value(1)
| (in thousands)
Cash equivalents: |  |  |  |  |  |  |  |  |
Money market funds | $ | 200,288 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 200,288 |
U.S. government agency securities | 2,284 |  |  | — |  |  | — |  |  | — |  |  | 2,284 |
Total: | $ | 202,572 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 202,572 |
Short-term investments: |  |  |  |  |  |  |  |  |
U.S. government agency & T-bills | $ | 20,595 |  |  | $ | — |  |  | $ | (82) |  |  | $ | (6) |  |  | $ | 20,507 |
Municipal bonds | 1,535 |  |  | — |  |  | — |  |  | (22) |  |  | 1,513 |
Corporate debt securities | 96,614 |  |  | 42 |  |  | (462) |  |  | (529) |  |  | 95,665 |
Asset-backed securities | 30,971 |  |  | 12 |  |  | (109) |  |  | (116) |  |  | 30,758 |
Total: | $ | 149,715 |  |  | $ | 54 |  |  | $ | (653) |  |  | $ | (673) |  |  | $ | 148,443 |
(1)See Note 8. Fair Value Measurements for further discussion on fair values. The contractual maturities of our available-for-sale debt securities as of July 31, 2023 were as follows:
| Amortized Cost |  | Fair Value
| (in thousands)
less than 1 year | $ | 67,071 |  |  | $ | 66,422 |
1-5 years | 78,935 |  |  | 78,386 |
5-10 years | 1,863 |  |  | 1,853 |
>10 years | 1,846 |  |  | 1,782 |
Total | $ | 149,715 |  |  | $ | 148,443 |
As of October 31, 2022, the balances of our cash equivalents and short-term investments were as follows:
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses Less Than 12 Continuous Months |  | Gross Unrealized Losses 12 Continuous Months or Longer |  | Estimated Fair Value(1)
| (in thousands)
Cash equivalents: |  |  |  |  |  |  |  |  |
Money market funds | $ | 77,683 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 77,683 |
Total: | $ | 77,683 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 77,683 |
Short-term investments: |  |  |  |  |  |  |  |  |
U.S. government agency & T-bills | $ | 25,816 |  |  | $ | — |  |  | $ | (174) |  |  | $ | (39) |  |  | $ | 25,603 |
Municipal bonds | 2,970 |  |  | — |  |  | (12) |  |  | (80) |  |  | 2,878 |
Corporate debt securities | 95,899 |  |  | 7 |  |  | (747) |  |  | (1,135) |  |  | 94,024 |
Asset-backed securities | 25,826 |  |  | — |  |  | (149) |  |  | (269) |  |  | 25,408 |
Total: | $ | 150,511 |  |  | $ | 7 |  |  | $ | (1,082) |  |  | $ | (1,523) |  |  | $ | 147,913 |
(1)See Note 8. Fair Value Measurements for further discussion on fair values.
Schedule of Cash, Cash Equivalents and Restricted Cash | The following table provided a reconciliation of cash, cash equivalents and restricted cash included in the condensed consolidated balance sheets:
| As of
| July 31, 2023 |  | October 31, 2022
| (in thousands)
Cash and cash equivalents | $ | 1,686,144 |  |  | $ | 1,417,608 |
Restricted cash included in prepaid and other current assets | 1,055 |  |  | 1,566 |
Restricted cash included in other long-term assets | 745 |  |  | 690 |
Total cash, cash equivalents and restricted cash | $ | 1,687,944 |  |  | $ | 1,419,864 |
Effects on Changes in Fair Values of Non-Designated Forward Contracts | The effects of the non-designated derivative instruments on the condensed consolidated statements of income were summarized as follows:
| Three Months Ended July 31, |  | Nine Months Ended July 31,
| 2023 |  | 2022 |  | 2023 |  | 2022
| (in thousands)
Gains (losses) recorded in other income (expense), net | $ | (1,205) |  |  | $ | (5,182) |  |  | $ | 3,532 |  |  | $ | (10,443) |
Notional Amounts of Derivative Instruments | The notional amounts in the table below for derivative instruments provided one measure of the transaction volume outstanding:
| As of
| July 31, 2023 |  | October 31, 2022
| (in thousands)
Total gross notional amounts | $ | 1,283,551 |  |  | $ | 1,386,140 |
Net fair value | $ | 18,120 |  |  | $ | (50,080) |
Fair Values of Derivative Instrument Designated and Non-Designated as Hedging Instruments in Balance Sheet | The following table represented the condensed consolidated balance sheets location and amount of derivative instrument fair values segregated between designated and non-designated hedge instruments:
| Fair values of derivative instruments designated as hedging instruments |  | Fair values of derivative instruments not designated as hedging instruments
| (in thousands)
Balance at July 31, 2023 |  |  |
Other current assets | $ | 22,487 |  |  | $ | 91 |
Accrued liabilities | $ | 4,124 |  |  | $ | 334 |
Balance at October 31, 2022 |  |  |
Other current assets | $ | 2,315 |  |  | $ | 223 |
Accrued liabilities | $ | 52,171 |  |  | $ | 447 |
Income Statement Location and Amount of Gains and Losses on Derivative Instrument Fair Values for Designated Hedge Instruments, Net of Tax | The following table represented the location of the amount of gains and losses on derivative instrument fair values for designated hedge instruments, net of tax in the condensed consolidated statements of income:
| Location of gains (losses) recognized in OCI on derivatives |  | Amount of gains (losses) recognized in OCI on derivatives (effective portion) |  | Location of gains (losses) reclassified from OCI |  | Amount of gains (losses) reclassified from OCI (effective portion)
| (in thousands)
Three months ended July 31, 2023 |  |  |  |  |  |  |
Foreign exchange contracts | Revenue |  | $ | 899 |  |  | Revenue |  | $ | (1,352) |
Foreign exchange contracts | Operating expenses |  | 5,008 |  |  | Operating expenses |  | (3,898) |
Total |  |  | $ | 5,907 |  |  |  |  | $ | (5,250) |
Three months ended July 31, 2022 |  |  |  |  |  |  |
Foreign exchange contracts | Revenue |  | $ | (4,702) |  |  | Revenue |  | $ | 3,651 |
Foreign exchange contracts | Operating expenses |  | (14,349) |  |  | Operating expenses |  | (3,687) |
Total |  |  | $ | (19,051) |  |  |  |  | $ | (36) |
Nine months ended July 31, 2023 |  |  |  |  |  |  |
Foreign exchange contracts | Revenue |  | $ | 7,315 |  |  | Revenue |  | $ | (10,856) |
Foreign exchange contracts | Operating expenses |  | 36,174 |  |  | Operating expenses |  | (12,025) |
Total |  |  | $ | 43,489 |  |  |  |  | $ | (22,881) |
Nine months ended July 31, 2022 |  |  |  |  |  |  |
Foreign exchange contracts | Revenue |  | $ | (12,527) |  |  | Revenue |  | $ | 3,309 |
Foreign exchange contracts | Operating expenses |  | (29,242) |  |  | Operating expenses |  | (4,852) |
Total |  |  | $ | (41,769) |  |  |  |  | $ | (1,543) |

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