XML 39 R14.htm IDEA: XBRL DOCUMENT
v3.25.1

Fair Value Measurements | 12 Months Ended
--- | ---
Jan. 31, 2025
Fair Value Disclosures [Abstract] |
Fair Value Measurements | Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the reporting date. The accounting guidance establishes a three-tiered hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value as follows: Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the reporting entity at the measurement date. Level 2 Inputs: Other than quoted prices included in Level 1 inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the asset or liability. Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date. The following table presents the fair value hierarchy for the Company’s assets and liabilities measured at fair value on a recurring basis as of January 31, 2025 (in thousands):
| Level 1 |  | Level 2 |  | Total
Assets: |  |  |  |  |
Cash equivalents: |  |  |  |  |
Money market funds | $ | 1,741,089 |  |  | $ | — |  |  | $ | 1,741,089 |
U.S. government securities | — |  |  | 388,670 |  |  | 388,670 |
Time deposits | — |  |  | 113,851 |  |  | 113,851 |
Corporate notes and bonds | — |  |  | 4,466 |  |  | 4,466 |
Commercial paper | — |  |  | 3,064 |  |  | 3,064 |
Short-term investments: |  |  |  |  |
Corporate notes and bonds | — |  |  | 1,059,181 |  |  | 1,059,181 |
U.S. government and agency securities | — |  |  | 456,673 |  |  | 456,673 |
Commercial paper | — |  |  | 307,856 |  |  | 307,856 |
Certificates of deposit | — |  |  | 185,163 |  |  | 185,163 |
Long-term investments: |  |  |  |  |
Corporate notes and bonds | — |  |  | 501,369 |  |  | 501,369 |
U.S. government and agency securities | — |  |  | 153,065 |  |  | 153,065 |
Certificates of deposit | — |  |  | 2,042 |  |  | 2,042 |
Derivative assets: |  |  |  |  |
Foreign currency forward contracts | — |  |  | 1,579 |  |  | 1,579 |
Total assets | $ | 1,741,089 |  |  | $ | 3,176,979 |  |  | $ | 4,918,068 |
Liabilities: |  |  |  |  |
Derivative liabilities: |  |  |  |  |
Foreign currency forward contracts | $ | — |  |  | $ | (1,639) |  |  | $ | (1,639) |
Total liabilities | $ | — |  |  | $ | (1,639) |  |  | $ | (1,639) |
The following table presents the fair value hierarchy for the Company’s assets and liabilities measured at fair value on a recurring basis as of January 31, 2024 (in thousands):
| Level 1 |  | Level 2 |  | Total
Assets: |  |  |  |  |
Cash equivalents: |  |  |  |  |
U.S. government securities | $ | — |  |  | $ | 742,234 |  |  | $ | 742,234 |
Money market funds | 533,211 |  |  | — |  |  | 533,211 |
Time deposits | — |  |  | 56,263 |  |  | 56,263 |
Short-term investments: |  |  |  |  |
Corporate notes and bonds | — |  |  | 939,727 |  |  | 939,727 |
U.S. government and agency securities | — |  |  | 573,780 |  |  | 573,780 |
Commercial paper | — |  |  | 353,548 |  |  | 353,548 |
Certificates of deposit | — |  |  | 216,444 |  |  | 216,444 |
Long-term investments: |  |  |  |  |
Corporate notes and bonds | — |  |  | 607,989 |  |  | 607,989 |
U.S. government and agency securities | — |  |  | 299,637 |  |  | 299,637 |
Certificates of deposit | — |  |  | 8,681 |  |  | 8,681 |
Derivative assets: |  |  |  |  |
Foreign currency forward contracts | — |  |  | 60 |  |  | 60 |
Total assets | $ | 533,211 |  |  | $ | 3,798,363 |  |  | $ | 4,331,574 |
Liabilities: |  |  |  |  |
Derivative liabilities: |  |  |  |  |
Foreign currency forward contracts | $ | — |  |  | $ | (745) |  |  | $ | (745) |
Total liabilities | $ | — |  |  | $ | (745) |  |  | $ | (745) |
The Company determines the fair value of its security holdings based on pricing from the Company’s service providers and market prices from industry-standard independent data providers. Such market prices may be quoted prices in active markets for identical assets (Level 1 inputs) or pricing determined using inputs other than quoted prices that are observable either directly or indirectly (Level 2 inputs), such as yield curve, volatility factors, credit spreads, default rates, loss severity, current market and contractual prices for the underlying instruments or debt, broker and dealer quotes, as well as other relevant economic measures. See Note 10, “Convertible Senior Notes for the fair value measurement of the Company’s convertible senior notes, which is not included in the tables above. Strategic Investments The tables above do not include the Company’s strategic investments, which consist primarily of non-marketable equity securities accounted for using the Measurement Alternative and marketable equity securities. The Company’s non-marketable equity securities accounted for using the Measurement Alternative are recorded at fair value on a non-recurring basis and classified within Level 3 of the fair value hierarchy because significant unobservable inputs or data in an inactive market are used in estimating their fair value. The estimation of fair value for these assets requires the use of an observable transaction price or other unobservable inputs, including the volatility, rights, and obligations of the securities the Company holds. The Company’s marketable equity securities are recorded at fair value on a recurring basis and classified within Level 1 of the fair value hierarchy because they are valued using the quoted market price. The following table presents the Company’s strategic investments by type (in thousands):
|  |  |  |  | January 31, 2025 |  | January 31, 2024
Equity securities: |  |  |  |  |  |  |
Non-marketable equity securities under Measurement Alternative |  |  |  |  | $ | 281,158 |  |  | $ | 190,238 |
Non-marketable equity securities under equity method |  |  |  |  | 5,491 |  |  | 5,307 |
Marketable equity securities |  |  |  |  | 13,833 |  |  | 37,320 |
Debt securities: |  |  |  |  |  |  |
Non-marketable debt securities |  |  |  |  | 750 |  |  | 1,500 |
Total strategic investments—included in other assets |  |  |  |  | $ | 301,232 |  |  | $ | 234,365 |
The following table summarizes the gains and losses associated with the Company’s strategic investments in equity securities (in thousands):
| Fiscal Year Ended January 31, |  |
| 2025 |  | 2024 |  | 2023 |  |
Unrealized gains (losses) on non-marketable equity securities under Measurement Alternative: |  |  |  |  |  |  |
Impairments | $ | (11,578) |  |  | $ | (3,101) |  |  | $ | (38,036) |  |  |
Upward adjustments | — |  |  | — |  |  | 4,125 |  |  |
Net unrealized gains (losses) on marketable equity securities | (2,428) |  |  | 15,197 |  |  | (12,524) |  |  |
Net unrealized gains (losses) on strategic investments in equity securities | (14,006) |  |  | 12,096 |  |  | (46,435) |  |  |
Net realized gains (losses) on strategic investments in equity securities(1) | (17,414) |  |  | 34,713 |  |  | — |  |  |
Total—included in other income (expense), net | $ | (31,420) |  |  | $ | 46,809 |  |  | $ | (46,435) |  |  |
________________ (1)The net realized gains on strategic investments in equity securities for the fiscal year ended January 31, 2024 include primarily a remeasurement gain of $34.0 million recognized on a previously held equity interest as a result of a business combination completed during fiscal 2024. See Note 7, “Business Combinations,” for further details. For strategic investments in equity securities sold, the realized gains or losses represent the difference between the sale proceeds and the carrying value of the securities at the beginning of the period or the purchase date, if later. The cumulative upward adjustments and the cumulative impairments to the carrying value of the non-marketable equity securities accounted for using the Measurement Alternative held by the Company as of January 31, 2025 were $18.3 million and $33.9 million, respectively.

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 107 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-107 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 100 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482078/820-10-55-100 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2E -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6A -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 940 -SubTopic 820 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478119/940-820-50-1 + Details
Name: | us-gaap_FairValueDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration