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Cash Equivalents and Investments | 6 Months Ended
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Jul. 31, 2022
Investments, Debt and Equity Securities [Abstract] |
Cash Equivalents and Investments | Cash Equivalents and Investments The following is a summary of the Company’s cash equivalents, short-term investments, and long-term investments on the condensed consolidated balance sheets (in thousands):
| July 31, 2022
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Cash equivalents: |  |  |  |  |  |  |
Money market funds | $ | 590,661 |  |  | $ | — |  |  | $ | — |  |  | $ | 590,661 |
Commercial paper | 71,835 |  |  | — |  |  | (14) |  |  | 71,821 |
Corporate notes and bonds | 15,703 |  |  | — |  |  | (7) |  |  | 15,696 |
Total cash equivalents | 678,199 |  |  | — |  |  | (21) |  |  | 678,178 |
Investments: |  |  |  |  |  |  |
Corporate notes and bonds | 2,464,401 |  |  | 97 |  |  | (30,226) |  |  | 2,434,272 |
Commercial paper | 893,431 |  |  | 224 |  |  | (3,852) |  |  | 889,803 |
U.S. government and agency securities | 528,941 |  |  | 304 |  |  | (9,640) |  |  | 519,605 |
Certificates of deposit | 290,264 |  |  | 59 |  |  | (842) |  |  | 289,481 |
Total investments | 4,177,037 |  |  | 684 |  |  | (44,560) |  |  | 4,133,161 |
Total cash equivalents and investments | $ | 4,855,236 |  |  | $ | 684 |  |  | $ | (44,581) |  |  | $ | 4,811,339 |
| January 31, 2022
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Estimated Fair Value
Cash equivalents: |  |  |  |  |  |  |
Money market funds | $ | 722,492 |  |  | $ | — |  |  | $ | — |  |  | $ | 722,492 |
Commercial paper | 77,795 |  |  | 1 |  |  | (2) |  |  | 77,794 |
U.S. government securities | 36,997 |  |  | — |  |  | (2) |  |  | 36,995 |
Corporate notes and bonds | 7,950 |  |  | — |  |  | (1) |  |  | 7,949 |
Total cash equivalents | 845,234 |  |  | 1 |  |  | (5) |  |  | 845,230 |
Investments: |  |  |  |  |  |  |
Corporate notes and bonds | 2,610,010 |  |  | 91 |  |  | (12,062) |  |  | 2,598,039 |
Commercial paper | 884,376 |  |  | 81 |  |  | (821) |  |  | 883,636 |
U.S. government and agency securities | 439,449 |  |  | 28 |  |  | (2,558) |  |  | 436,919 |
Certificates of deposit | 104,108 |  |  | 4 |  |  | (135) |  |  | 103,977 |
Total investments | 4,037,943 |  |  | 204 |  |  | (15,576) |  |  | 4,022,571 |
Total cash equivalents and investments | $ | 4,883,177 |  |  | $ | 205 |  |  | $ | (15,581) |  |  | $ | 4,867,801 |
The Company included $14.2 million and $14.1 million of interest receivable in prepaid expenses and other current assets on the condensed consolidated balance sheets as of July 31, 2022 and January 31, 2022, respectively. The Company did not recognize an allowance for credit losses against interest receivable as of July 31, 2022 and January 31, 2022 because such potential losses were not material. As of July 31, 2022, the contractual maturities of the Company’s available-for-sale marketable debt securities did not exceed 36 months. The estimated fair values of available-for-sale marketable debt securities, by remaining contractual maturity, are as follows (in thousands):
| July 31, 2022
| Estimated Fair Value
Due within 1 year | $ | 3,133,994 |
Due in 1 year to 3 years | 1,086,684 |
Total | $ | 4,220,678 |
The following tables show the fair values of, and the gross unrealized losses on, the Company’s available-for-sale marketable debt securities, classified by the length of time that the securities have been in a continuous unrealized loss position and aggregated by investment type, on the condensed consolidated balance sheets (in thousands):
| July 31, 2022
| Less than 12 Months |  | 12 Months or Greater |  | Total
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |
Commercial paper | $ | 61,983 |  |  | $ | (14) |  |  | $ | — |  |  | $ | — |  |  | $ | 61,983 |  |  | $ | (14) |
Corporate notes and bonds | 15,696 |  |  | (7) |  |  | — |  |  | — |  |  | 15,696 |  |  | (7) |
Total cash equivalents | 77,679 |  |  | (21) |  |  | — |  |  | — |  |  | 77,679 |  |  | (21) |
Investments: |  |  |  |  |  |  |  |  |  |  |
Corporate notes and bonds | 2,285,206 |  |  | (29,345) |  |  | 62,893 |  |  | (881) |  |  | 2,348,099 |  |  | (30,226) |
Commercial paper | 837,383 |  |  | (3,852) |  |  | — |  |  | — |  |  | 837,383 |  |  | (3,852) |
U.S. government and agency securities | 369,879 |  |  | (9,334) |  |  | 13,694 |  |  | (306) |  |  | 383,573 |  |  | (9,640) |
Certificates of deposit | 223,543 |  |  | (842) |  |  | — |  |  | — |  |  | 223,543 |  |  | (842) |
Total investments | 3,716,011 |  |  | (43,373) |  |  | 76,587 |  |  | (1,187) |  |  | 3,792,598 |  |  | (44,560) |
Total cash equivalents and investments | $ | 3,793,690 |  |  | $ | (43,394) |  |  | $ | 76,587 |  |  | $ | (1,187) |  |  | $ | 3,870,277 |  |  | $ | (44,581) |
| January 31, 2022
| Less than 12 Months |  | 12 Months or Greater |  | Total
| Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |
Commercial paper | $ | 55,819 |  |  | $ | (2) |  |  | $ | — |  |  | $ | — |  |  | $ | 55,819 |  |  | $ | (2) |
U.S. government securities | 36,995 |  |  | (2) |  |  | — |  |  | — |  |  | 36,995 |  |  | (2) |
Corporate notes and bonds | 7,629 |  |  | (1) |  |  | — |  |  | — |  |  | 7,629 |  |  | (1) |
Total cash equivalents | 100,443 |  |  | (5) |  |  | — |  |  | — |  |  | 100,443 |  |  | (5) |
Investments: |  |  |  |  |  |  |  |  |  |  |
Corporate notes and bonds | 2,378,956 |  |  | (12,044) |  |  | 8,935 |  |  | (18) |  |  | 2,387,891 |  |  | (12,062) |
Commercial paper | 653,827 |  |  | (821) |  |  | — |  |  | — |  |  | 653,827 |  |  | (821) |
U.S. government and agency securities | 334,980 |  |  | (2,558) |  |  | — |  |  | — |  |  | 334,980 |  |  | (2,558) |
Certificates of deposit | 49,118 |  |  | (135) |  |  | — |  |  | — |  |  | 49,118 |  |  | (135) |
Total investments | 3,416,881 |  |  | (15,558) |  |  | 8,935 |  |  | (18) |  |  | 3,425,816 |  |  | (15,576) |
Total cash equivalents and investments | $ | 3,517,324 |  |  | $ | (15,563) |  |  | $ | 8,935 |  |  | $ | (18) |  |  | $ | 3,526,259 |  |  | $ | (15,581) |
For available-for-sale marketable debt securities with unrealized loss positions, the Company does not intend to sell these securities and it is more likely than not that the Company will hold these securities until maturity or a recovery of the cost basis. The decline in fair value of these securities due to credit related factors was not material as of July 31, 2022 and January 31, 2022. See Note 5 for information regarding the Company’s strategic investments.

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