XML 25 R11.htm IDEA: XBRL DOCUMENT
v3.20.1

BALANCE SHEET COMPONENTS | 9 Months Ended
--- | ---
Apr. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
BALANCE SHEET COMPONENTS | BALANCE SHEET COMPONENTS Short-Term Investments The amortized cost of our short-term investments approximates their fair value. As of July 31, 2019 and April 30, 2020, unrealized gains and losses from our short-term investments were not material. As of July 31, 2019 and April 30, 2020, unrealized losses from securities that were in an unrealized loss position for more than 12 months were not material. Unrealized losses related to our short-term investments are due to interest rate fluctuations, as opposed to credit quality. As a result, at July 31, 2019 and April 30, 2020, there were no other-than-temporary impairments for these investments. The following table summarizes the estimated fair value of our investments in marketable debt securities by their contractual maturity dates:
| As of April 30, 2020
| (in thousands)
Due within one year | $ | 332,705 |
Due in one to two years | 137,101 |
Total | $ | 469,806 |
Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consists of the following:
| As of |  |
| July 31, 2019 |  | April 30, 2020
| (in thousands) |  |
Prepaid operating expenses | $ | 37,864 |  |  | $ | 32,355 |
VAT receivables | 5,068 |  |  | 8,181 |
Tenant improvement allowance receivables | — |  |  | 8,056 |
Prepaid income taxes | 19,690 |  |  | 1,477 |
Other current assets | 12,043 |  |  | 13,120 |
Total prepaid expenses and other current assets | $ | 74,665 |  |  | $ | 63,189 |
The decrease in prepaid expenses and other current assets from July 31, 2019 to April 30, 2020 was due primarily to the receipt of an $18.0 million corporate income tax refund in the first quarter of fiscal 2020, partially offset by the addition of $8.1 million of tenant improvement allowances, which are recorded within prepaid expenses and other current assets on the condensed consolidated balance sheet as of April 30, 2020 as a result of our adoption of ASC 842 during the first quarter of fiscal 2020. Property and Equipment, Net Property and equipment, net consists of the following:
| Estimated Useful Life |  | As of |  |
|  |  | July 31, 2019 |  | April 30, 2020
| (in months) |  | (in thousands) |  |
Computer, production, engineering and other equipment | 36 |  | $ | 200,762 |  |  | $ | 235,429 |
Demonstration units | 12 |  | 59,981 |  |  | 66,149 |
Leasehold improvements | (1) |  | 46,520 |  |  | 65,056 |
Furniture and fixtures | 60 |  | 12,868 |  |  | 16,386 |
Total property and equipment, gross |  |  | 320,131 |  |  |  | 383,020 |
Less: accumulated depreciation (2) |  |  | (183,169) |  |  | (233,332) |
Total property and equipment, net |  |  | $ | 136,962 |  |  |  | $ | 149,688 |
(1)Leasehold improvements are amortized over the shorter of the estimated useful lives of the improvements or the remaining lease term. (2)Includes a $1.2 million write-off related to the impairment of certain leasehold improvements for the fiscal quarter ended January 31, 2020. For additional information on this lease-related impairment, refer to Note 6. Depreciation expense related to our property and equipment was $16.4 million and $43.3 million for the three and nine months ended April 30, 2019 and $19.8 million and $56.7 million for the three and nine months ended April 30, 2020, respectively. Goodwill and Intangible Assets, Net The change in the carrying value of goodwill during the nine months ended April 30, 2020 was not material. Intangible assets, net consists of the following:
| As of |  |
| July 31, 2019 |  | April 30, 2020
| (in thousands) |  |
Developed technology | $ | 79,300 |  |  | $ | 79,300 |
Customer relationships | 8,860 |  |  | 8,860 |
Trade name | 4,170 |  |  | 4,170 |
Total intangible assets, gross | 92,330 |  |  | 92,330 |
Less: |  |  |
Accumulated amortization of developed technology | (21,210) |  |  | (32,293) |
Accumulated amortization of customer relationships | (3,392) |  |  | (4,562) |
Accumulated amortization of trade name | (955) |  |  | (1,737) |
Total accumulated amortization | (25,557) |  |  | (38,592) |
Total intangible assets, net | $ | 66,773 |  |  | $ | 53,738 |
Amortization expense related to our intangible assets is being recognized in the condensed consolidated statements of operations within product cost of revenue for developed technology and sales and marketing expense for customer relationships and trade name. The estimated future amortization expense of our intangible assets is as follows:
Fiscal Year Ending July 31: | Amount
| (in thousands)
2020 (remaining three months) | $ | 4,345 |
2021 | 17,380 |
2022 | 16,183 |
2023 | 10,856 |
2024 | 3,210 |
Thereafter | 1,764 |
Total | $ | 53,738 |
Accrued Compensation and Benefits Accrued compensation and benefits consists of the following:
| As of |  |
| July 31, 2019 |  | April 30, 2020
| (in thousands) |  |
Accrued commissions | $ | 31,703 |  |  | $ | 28,603 |
Accrued vacation | 15,475 |  |  | 21,424 |
Payroll taxes payable | 8,504 |  |  | 9,490 |
Contributions to ESPP withheld | 20,778 |  |  | 6,608 |
Accrued bonus | 11,413 |  |  | 3,435 |
Other | 11,931 |  |  | 16,081 |
Total accrued compensation and benefits | $ | 99,804 |  |  | $ | 85,641 |

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

X
- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI http://asc.fasb.org/topic&trid=2122208 + Details
Name: | us-gaap_SupplementalBalanceSheetDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration