v3.7.0.1
Derivative Instruments (Tables)
 3 Months Ended
Apr. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value
The fair values of outstanding derivative instruments were as follows (in thousands):
 
 
Condensed Consolidated Balance Sheets Location
 
April 30, 2017
 
January 31, 2017
Derivative Assets:
 
 
 
 
 
 
Foreign currency forward contracts designated as cash flow hedges
 
Prepaid expenses and other current assets and Other assets
 
$
5,882

 
$
7,149

Foreign currency forward contracts not designated as hedges
 
Prepaid expenses and other current assets
 
1,052

 
760

Derivative Liabilities:
 
 
 
 
 
 
Foreign currency forward contracts designated as cash flow hedges
 
Accrued expenses and other current liabilities and Other liabilities
 
$
3,728

 
$
1,605

Foreign currency forward contracts not designated as hedges
 
Accrued expenses and other current liabilities
 
501

 
522
Derivative Instruments, Gain (Loss)
Gains (losses) associated with foreign currency forward contracts designated as cash flow hedges were as follows (in thousands):
 
 
Condensed Consolidated Statement of Operations and Statement of Comprehensive Loss Locations
 
Three Months Ended April 30,
 
 
 
2017
 
2016
Gains (losses) recognized in OCI (effective portion)(1)
 
Net change in market value of effective foreign currency forward exchange contracts
 
$
(975
)
 
$
(10,954
)
Gains (losses) reclassified from OCI into income (effective portion)
 
Revenues
 
234

 
110

Gains (losses) recognized in income (amount excluded from effectiveness testing and ineffective portion)
 
Other expense, net
 
623

 
151

(1) 
Of the total effective portion of foreign currency forward contracts designated as cash flow hedges as of April 30, 2017, net gains of $4 million are expected to be reclassified out of OCI within the next 12 months.
Gains (losses) associated with foreign currency forward contracts not designated as cash flow hedges were as follows (in thousands):
 
 
Condensed Consolidated Statement of Operations Location
 
Three Months Ended April 30,
Derivative Type
 
 
2017
 
2016
Foreign currency forward contracts not designated as hedges
 
Other expense, net
 
$
(6
)
 
$
(1,319
)
Offsetting Assets
As of April 30, 2017, information related to these offsetting arrangements was as follows (in thousands):
 
 
Gross Amounts of Recognized Assets
 
Gross Amounts Offset in the Condensed Consolidated Balance Sheets
 
Net Amounts of Assets Presented in the Condensed Consolidated Balance Sheets
 
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
 
Net Assets Exposed
 
 
 
 
 
Financial Instruments
 
Cash Collateral Received
 
Derivative Assets:
 
 
 
 
 
 
 
 
 
 
 
 
Counterparty A
 
$
1,081

 
$
—

 
$
1,081

 
$
(1,081
)
 
$
—

 
$
—

Counterparty B
 
5,827

 
—

 
5,827

 
(2,720
)
 
—

 
3,107

Counterparty C
 
2

 
—

 
2

 
—

 
—

 
2

Counterparty D
 
24

 
—

 
24

 
—

 
—

 
24

Total
 
$
6,934

 
$
—

 
$
6,934

 
$
(3,801
)
 
$
—

 
$
3,133
Offsetting Liabilities
 
 
Gross Amounts of Recognized Liabilities
 
Gross Amounts Offset in the Condensed Consolidated Balance Sheets
 
Net Amounts of Liabilities Presented in the Condensed Consolidated Balance Sheets
 
Gross Amounts Not Offset in the Condensed Consolidated Balance Sheets
 
Net Liabilities Exposed
 
 
 
 
 
Financial Instruments
 
Cash Collateral Pledged
 
Derivative Liabilities:
 
 
 
 
 
 
 
 
 
 
 
 
Counterparty A
 
$
1,509

 
$
—

 
$
1,509

 
$
(1,081
)
 
$
—

 
$
428

Counterparty B
 
2,720

 
—

 
2,720

 
(2,720
)
 
—

 
—

Total
 
$
4,229

 
$
—

 
$
4,229

 
$
(3,801
)
 
$
—

 
$
428