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Derivative Instruments (Tables) | 9 Months Ended
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Oct. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Fair Values of Outstanding Derivative Instruments | The fair values of outstanding derivative instruments were as follows (in thousands):
|  | Condensed Consolidated Balance Sheets Location |  | October 31, 2021 |  | January 31, 2021
Derivative assets: |  |  |  |  |  |
Foreign currency forward contracts designated as cash flow hedges |  | Prepaid expenses and other current assets |  | $ | 10,806 |  |  | $ | 2,073 |
Foreign currency forward contracts designated as cash flow hedges |  | Other assets |  | 13,029 |  |  | 173 |
Foreign currency forward contracts not designated as hedges |  | Prepaid expenses and other current assets |  | 326 |  |  | 975 |
Foreign currency forward contracts not designated as hedges |  | Other assets |  | 5 |  |  | — |
Total derivative assets |  |  |  | $ | 24,166 |  |  | $ | 3,221 |
Derivative liabilities: |  |  |  |  |  |
Foreign currency forward contracts designated as cash flow hedges |  | Accrued expenses and other current liabilities |  | $ | 13,291 |  |  | $ | 23,647 |
Foreign currency forward contracts designated as cash flow hedges |  | Other liabilities |  | 9,559 |  |  | 24,586 |
Foreign currency forward contracts not designated as hedges |  | Accrued expenses and other current liabilities |  | 1,326 |  |  | 1,162 |
Foreign currency forward contracts not designated as hedges |  | Other liabilities |  | 21 |  |  | 61 |
Total derivative liabilities |  |  |  | $ | 24,197 |  |  | $ | 49,456 |
Derivative Instruments, Gain (Loss) | 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 October 31, |  | Nine Months Ended October 31,
|  |  | 2021 |  | 2020 |  | 2021 |  | 2020
Total revenues |  | Revenues |  | $ | 1,327,263 |  |  | $ | 1,105,960 |  |  | $ | 3,762,657 |  |  | $ | 3,186,312 |
Amount of gains (losses) related to foreign currency forward contracts designated as cash flow hedges |  | Revenues |  | (3,847) |  |  | 5,568 |  |  | (4,996) |  |  | 15,332 |
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 Income (Loss) Locations |  | Three Months Ended October 31, |  | Nine Months Ended October 31,
|  |  | 2021 |  | 2020 |  | 2021 |  | 2020
Gains (losses) recognized in OCI |  | Net change in market value of effective foreign currency forward exchange contracts |  | $ | 21,542 |  |  | $ | 8,612 |  |  | $ | 33,320 |  |  | $ | (7,153) |
Gains (losses) reclassified from AOCI into income (effective portion) |  | Revenues |  | (3,847) |  |  | 5,568 |  |  | (4,996) |  |  | 15,332 |
Gains (losses) associated with foreign currency forward contracts not designated as hedges were as follows (in thousands):
|  | Condensed Consolidated Statements of Operations Location |  | Three Months Ended October 31, |  | Nine Months Ended October 31,
|  |  | 2021 |  | 2020 |  | 2021 |  | 2020
Foreign currency forward contracts not designated as hedges |  | Other income (expense), net |  | $ | 605 |  |  | $ | 151 |  |  | $ | 2,424 |  |  | $ | 1,524 |
Offsetting Assets | As of October 31, 2021, 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 |  | $ | 1,879 |  |  | $ | — |  |  | $ | 1,879 |  |  | $ | (1,879) |  |  | $ | — |  |  | $ | — |
Counterparty B |  | 7,714 |  |  | — |  |  | 7,714 |  |  | (7,714) |  |  | — |  |  | — |
Counterparty C |  | 4,961 |  |  | — |  |  | 4,961 |  |  | (4,961) |  |  | — |  |  | — |
Counterparty D |  | 8,465 |  |  | — |  |  | 8,465 |  |  | (8,465) |  |  | — |  |  | — |
Counterparty E |  | 1,147 |  |  | — |  |  | 1,147 |  |  | (1,147) |  |  | — |  |  | — |
Total |  | $ | 24,166 |  |  | $ | — |  |  | $ | 24,166 |  |  | $ | (24,166) |  |  | $ | — |  |  | $ | — |
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 |  | $ | 4,631 |  |  | $ | — |  |  | $ | 4,631 |  |  | $ | (1,879) |  |  | $ | — |  |  | $ | 2,752 |
Counterparty B |  | 9,136 |  |  | — |  |  | 9,136 |  |  | (7,714) |  |  | — |  |  | 1,422 |
Counterparty C |  | 8,873 |  |  | — |  |  | 8,873 |  |  | (4,961) |  |  | — |  |  | 3,912 |
Counterparty D |  | 1,255 |  |  | — |  |  | 1,255 |  |  | (8,465) |  |  | — |  |  | (7,210) |
Counterparty E |  | 302 |  |  | — |  |  | 302 |  |  | (1,147) |  |  | — |  |  | (845) |
Total |  | $ | 24,197 |  |  | $ | — |  |  | $ | 24,197 |  |  | $ | (24,166) |  |  | $ | — |  |  | $ | 31 |

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