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Fair Value of Financial Instruments (Tables)

6 Months Ended

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

X

- 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

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