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Fair Value of Financial Instruments (Tables) | 6 Months Ended
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Jan. 31, 2022
Fair Value Disclosures [Abstract] |
Schedule of Available-for-sale Securities Reconciliation | Available-for-sale investments within cash equivalents and investments consist of the following (in thousands):
| January 31, 2022
| Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Estimated Fair Value
Commercial paper | $ | 241,734 |  |  | $ | — |  |  | $ | — |  |  | $ | 241,734 |
Corporate bonds | 381,914 |  |  | 139 |  |  | (1,807) |  |  | 380,246 |
Certificates of deposit | 63,051 |  |  | — |  |  | — |  |  | 63,051 |
U.S. Government bonds | 75,301 |  |  | 17 |  |  | (607) |  |  | 74,711 |
Money market funds | 106,208 |  |  | — |  |  | — |  |  | 106,208 |
U.S. Government agency securities | 32,639 |  |  | — |  |  | (228) |  |  | 32,411 |
Asset-backed securities | 55,924 |  |  | — |  |  | (211) |  |  | 55,713 |
Foreign government bonds | 35,406 |  |  | — |  |  | (175) |  |  | 35,231 |
Municipal bonds | 205 |  |  | — |  |  | (1) |  |  | 204 |
Strategic convertible debt investment* | 1,000 |  |  | — |  |  | — |  |  | 1,000 |
Total | $ | 993,382 |  |  | $ | 156 |  |  | $ | (3,029) |  |  | $ | 990,509 |
*At original cost
| July 31, 2021 |
| Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Estimated Fair Value |
Commercial paper | $ | 389,837 |  |  | $ | — |  |  | $ | — |  |  | $ | 389,837 |  |
Corporate bonds | 371,374 |  |  | 623 |  |  | (37) |  |  | 371,960 |  |
Certificates of deposit | 82,250 |  |  | — |  |  | — |  |  | 82,250 |  |
U.S. Government bonds | 64,401 |  |  | 62 |  |  | (1) |  |  | 64,462 |  |
Money market funds | 125,118 |  |  | — |  |  | — |  |  | 125,118 |  |
U.S. Government agency securities | 85,165 |  |  | 15 |  |  | — |  |  | 85,180 |  |
Asset-backed securities | 47,925 |  |  | 29 |  |  | (7) |  |  | 47,947 |  |
Foreign government bonds | 33,177 |  |  | 10 |  |  | (2) |  |  | 33,185 |  |
Municipal bonds | 1,685 |  |  | — |  |  | — |  |  | 1,685 |  |
Strategic convertible debt investment* | 1,000 |  |  | — |  |  | — |  |  | 1,000 |  |
Total | $ | 1,201,932 |  |  | $ | 739 |  |  | $ | (47) |  |  | $ | 1,202,624 |  |
Investments Classified by Contractual Maturity Date | The following table summarizes the contractual maturities of the Company’s available-for-sale investments measured at fair value (in thousands):
| January 31, 2022
| Less Than 12 Months |  | 12 Months or Greater |  |  |  | Total
Commercial paper | $ | 239,234 |  |  | $ | 2,500 |  |  |  |  | $ | 241,734 |
Corporate bonds | 207,859 |  |  | 172,387 |  |  |  |  | 380,246 |
Certificates of deposit | 62,051 |  |  | 1,000 |  |  |  |  | 63,051 |
U.S. Government bonds | 46,878 |  |  | 27,833 |  |  |  |  | 74,711 |
Money market funds | 106,208 |  |  | — |  |  |  |  | 106,208 |
U.S. Government agency securities | 4,999 |  |  | 27,412 |  |  |  |  | 32,411 |
Asset-backed securities | 3,670 |  |  | 52,043 |  |  |  |  | 55,713 |
Foreign government bonds | 24,869 |  |  | 10,362 |  |  |  |  | 35,231 |
Municipal bonds | 204 |  |  | — |  |  |  |  | 204 |
Strategic convertible debt investment | $ | 1,000 |  |  | $ | — |  |  |  |  | $ | 1,000 |
Total | $ | 696,972 |  |  | $ | 293,537 |  |  |  |  | $ | 990,509 |
Fair Value, Assets Measured on Recurring Basis | The following tables summarize the Company’s available-for-sale investments measured at fair value, by level within the fair value hierarchy (in thousands):
| January 31, 2022
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Cash equivalents: |  |  |  |  |  |  |
Commercial paper | — |  |  | 28,011 |  |  | — |  |  | 28,011 |
Money market funds | 106,208 |  |  | — |  |  | — |  |  | 106,208 |
Total cash equivalents | 106,208 |  |  | 28,011 |  |  | — |  |  | 134,219 |
Short-term investments: |  |  |  |  |  |  |
Commercial paper | — |  |  | 211,223 |  |  | — |  |  | 211,223 |
Corporate bonds | — |  |  | 207,859 |  |  | — |  |  | 207,859 |
Certificates of deposit | — |  |  | 62,051 |  |  | — |  |  | 62,051 |
U.S. Government bonds | — |  |  | 46,878 |  |  | — |  |  | 46,878 |
U.S. Government agency securities | — |  |  | 4,999 |  |  | — |  |  | 4,999 |
Asset-backed securities | — |  |  | 3,670 |  |  | — |  |  | 3,670 |
Foreign government bonds | — |  |  | 24,869 |  |  | — |  |  | 24,869 |
Municipal bonds | — |  |  | 204 |  |  | — |  |  | 204 |
Strategic convertible debt investment | — |  |  | — |  |  | 1,000 |  |  | 1,000 |
Total short-term investments | — |  |  | 561,753 |  |  | 1,000 |  |  | 562,753 |
Long-term investments: |  |  |  |  |  |  |
Commercial paper | — |  |  | 2,500 |  |  | — |  |  | 2,500 |
Corporate bonds | — |  |  | 172,387 |  |  | — |  |  | 172,387 |
Certificates of deposit | — |  |  | 1,000 |  |  | — |  |  | 1,000 |
U.S. Government bonds | — |  |  | 27,833 |  |  | — |  |  | 27,833 |
U.S. Government agency securities | — |  |  | 27,412 |  |  | — |  |  | 27,412 |
Asset-backed securities | — |  |  | 52,043 |  |  | — |  |  | 52,043 |
Foreign government bonds | — |  |  | 10,362 |  |  | — |  |  | 10,362 |
Total long-term investments | — |  |  | 293,537 |  |  | — |  |  | 293,537 |
Total | 106,208 |  |  | 883,301 |  |  | 1,000 |  |  | 990,509 |
| July 31, 2021
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Cash equivalents: |  |  |  |  |  |  |
Commercial paper | $ | — |  |  | $ | 115,825 |  |  | $ | — |  |  | $ | 115,825 |
Money market funds | 125,118 |  |  | — |  |  | — |  |  | 125,118 |
Total cash equivalents | 125,118 |  |  | 115,825 |  |  | — |  |  | 240,943 |
Short-term investments: |  |  |  |  |  |  |
Commercial paper | — |  |  | 274,012 |  |  | — |  |  | 274,012 |
Corporate bonds | — |  |  | 225,384 |  |  | — |  |  | 225,384 |
Certificates of deposit | — |  |  | 80,750 |  |  | — |  |  | 80,750 |
U.S. Government bonds | — |  |  | 45,320 |  |  | — |  |  | 45,320 |
U.S. Government agency securities | — |  |  | 69,183 |  |  | — |  |  | 69,183 |
Asset-backed securities | — |  |  | 9,036 |  |  | — |  |  | 9,036 |
Foreign government bonds | — |  |  | 28,353 |  |  | — |  |  | 28,353 |
Municipal bonds | — |  |  | 1,480 |  |  | — |  |  | 1,480 |
Strategic convertible debt investment | — |  |  | — |  |  | 1,000 |  |  | 1,000 |
Total short-term investments | — |  |  | 733,518 |  |  | 1,000 |  |  | 734,518 |
Long-term investments: |  |  |  |  |  |  |
Corporate bonds | — |  |  | 146,576 |  |  | — |  |  | 146,576 |
Certificates of deposit | — |  |  | 1,500 |  |  | — |  |  | 1,500 |
U.S. Government bonds | — |  |  | 19,142 |  |  | — |  |  | 19,142 |
U.S. Government agency securities | — |  |  | 15,997 |  |  | — |  |  | 15,997 |
Asset-backed securities | — |  |  | 38,911 |  |  | — |  |  | 38,911 |
Foreign government bonds | — |  |  | 4,832 |  |  | — |  |  | 4,832 |
Municipal bonds | — |  |  | 205 |  |  | — |  |  | 205 |
Total long-term investments | — |  |  | 227,163 |  |  | — |  |  | 227,163 |
Total | $ | 125,118 |  |  | $ | 1,076,506 |  |  | $ | 1,000 |  |  | $ | 1,202,624 |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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