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Derivative Instruments (Tables)

3 Months Ended

Apr. 30, 2019

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, 2019				January 31, 2019
Derivative assets:
Foreign currency forward contracts designated as cash flow hedges		Prepaid expenses and other current assets		$	18,172			$	12,076
Foreign currency forward contracts designated as cash flow hedges		Other assets		15,303				10,015
Foreign currency forward contracts not designated as hedges		Prepaid expenses and other current assets		1,685				459
Foreign currency forward contracts not designated as hedges		Other assets		78				20
Total derivative assets				$	35,238			$	22,570
Derivative liabilities:
Foreign currency forward contracts designated as cash flow hedges		Accrued expenses and other current liabilities		$	154			$	983
Foreign currency forward contracts designated as cash flow hedges		Other liabilities		275				706
Foreign currency forward contracts not designated as hedges		Accrued expenses and other current liabilities		314				1,446
Foreign currency forward contracts not designated as hedges		Other liabilities		9				—
Total derivative liabilities				$	752			$	3,135

Schedule of Cash Flow Hedges On The Condensed Consolidated Statements of Operations

The effect of foreign currency forward contracts designated as cash flow hedges on the condensed consolidated statements of operations was as follows (in thousands):

		Condensed Consolidated Statements of Operations Location		Three Months Ended April 30, 2019
Total revenues		Revenues		$	825,055
Amount of gains (losses) related to foreign currency forward contracts designated as cash flow hedges		Revenues		16

Derivative Instruments, Gain (Loss)

Pre-tax gains (losses) associated with foreign currency forward contracts designated as cash flow hedges were as follows (in thousands):

		Condensed Consolidated Statements of Operations and Statements of Comprehensive Loss Locations		Three Months Ended April 30,
				2019				2018
Gains (losses) recognized in OCI (1)		Net change in market value of effective foreign currency forward exchange contracts		$	15,862			$	18,274
Gains (losses) reclassified from OCI into income		Revenues		16				(1,117		)
Gains (losses) recognized in income (amount excluded from effectiveness testing and ineffective portion)		Other income (expense), net		—				2,231

⁽¹⁾  Of the total value accumulated in OCI from foreign currency forward contracts designated as cash flow hedges as of April 30, 2019, net gains of $7 million are expected to be reclassified out of OCI within the next 12 months.

Derivatives Not Designated as Hedging Instruments

Gains (losses) associated with foreign currency forward contracts not designated as cash flow hedges were as follows (in thousands):

		Condensed Consolidated Statements of Operations Location		Three Months Ended April 30,
Derivative Type				2019				2018
Foreign currency forward contracts not designated as hedges		Other income (expense), net		$	2,398			$	1,794

Offsetting Assets

As of April 30, 2019, information related to these offsetting arrangements was as follows (in thousands):

		Gross Amounts of Recognized Assets				Gross Amounts Offset on the Condensed Consolidated Balance Sheets				Net Amounts of Assets Presented on the Condensed Consolidated Balance Sheets				Gross Amounts Not Offset on the Condensed Consolidated Balance Sheets								Net Assets Exposed
														Financial Instruments				Cash Collateral Received
Derivative assets:
Counterparty A		$	2,603			$	—			$	2,603			$	(272	)		$	—			$	2,331
Counterparty B		30,084				—				30,084				(448		)		—				29,636
Counterparty C		2,551				—				2,551				(32		)		—				2,519
Total		$	35,238			$	—			$	35,238			$	(752	)		$	—			$	34,486

Offsetting Liabilities

		Gross Amounts of Recognized Liabilities				Gross Amounts Offset on the Condensed Consolidated Balance Sheets				Net Amounts of Liabilities Presented on the Condensed Consolidated Balance Sheets				Gross Amounts Not Offset on the Condensed Consolidated Balance Sheets								Net Liabilities Exposed
														Financial Instruments				Cash Collateral Pledged
Derivative liabilities:
Counterparty A		$	272			$	—			$	272			$	(272	)		$	—			$	—
Counterparty B		448				—				448				(448		)		—				—
Counterparty C		32				—				32				(32		)		—				—
Total		$	752			$	—			$	752			$	(752	)		$	—			$	—

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