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Fair Value of Financial Instruments (Tables)

3 Months Ended

Oct. 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):

			October 31, 2022
			Amortized Cost						Unrealized Gains						Unrealized Losses						Estimated Fair Value
Commercial paper			$	177,719					$	—					$	—					$	177,719
Corporate bonds			302,449						7						(5,973)						296,483
Certificates of deposit			54,997						—						—						54,997
U.S. Government bonds			67,793						6						(1,760)						66,039
Money market funds			67,752						—						—						67,752
U.S. Government agency securities			49,354						—						(642)						48,712
Asset-backed securities			50,438						2						(786)						49,654
Foreign government bonds			10,346						—						(456)						9,890
Total			$	780,848					$	15					$	(9,617)					$	771,246

			July 31, 2022
			Amortized Cost						Unrealized Gains						Unrealized Losses						Estimated Fair Value
Commercial paper			$	197,998					$	—					$	—					$	197,998
Corporate bonds			320,474						8						(4,880)						315,602
Certificates of deposit			43,715						—						—						43,715
U.S. Government bonds			47,014						—						(1,312)						45,702
Money market funds			349,492						—						—						349,492
U.S. Government agency securities			37,572						—						(586)						36,986
Asset-backed securities			54,782						—						(611)						54,171
Foreign government bonds			15,109						—						(361)						14,748
Municipal bonds			205						—						—						205
Total			$	1,066,361					$	8					$	(7,750)					$	1,058,619

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):

			October 31, 2022
			Less Than 12 Months						12 Months or Greater						Total
Commercial paper			$	177,719					$	—					$	177,719
Corporate bonds			222,767						73,716						296,483
Certificates of deposit			54,997						—						54,997
U.S. Government bonds			30,490						35,549						66,039
Money market funds			67,752						—						67,752
U.S. Government agency securities			44,880						3,832						48,712
Asset-backed securities			1,427						48,227						49,654
Foreign government bonds			7,879						2,011						9,890
Total			$	607,911					$	163,335					$	771,246

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):

			October 31, 2022
			Level 1						Level 2						Level 3						Total
Cash equivalents:
Commercial paper			$	—					$	77,178					$	—					$	77,178
Certificates of deposit			—						3,000						—						3,000
Money market funds			67,752						—						—						67,752
U.S. Government agency securities			—						17,958						—						17,958
Total cash equivalents			67,752						98,136						—						165,888
Short-term investments:
Commercial paper			—						100,541						—						100,541
Corporate bonds			—						222,767						—						222,767
Certificates of deposit			—						51,997						—						51,997
U.S. Government bonds			—						30,490						—						30,490
U.S. Government agency securities			—						26,922						—						26,922
Asset-backed securities			—						1,427						—						1,427
Foreign government bonds			—						7,879						—						7,879
Total short-term investments			—						442,023						—						442,023
Long-term investments:
Corporate bonds			—						73,716						—						73,716
U.S. Government bonds			—						35,549						—						35,549
U.S. Government agency securities			—						3,832						—						3,832
Asset-backed securities			—						48,227						—						48,227
Foreign government bonds			—						2,011						—						2,011
Total long-term investments			—						163,335						—						163,335
Total			$	67,752					$	703,494					$	—					$	771,246

			July 31, 2022
			Level 1						Level 2						Level 3						Total
Cash equivalents:
Commercial paper			$	—					$	132,066					$	—					$	132,066
Certificates of deposit			—						9,689						—						9,689
Money market funds			349,492						—						—						349,492
U.S. Government agency securities			—						10,000						—						10,000
Total cash equivalents			349,492						151,755						—						501,247
Short-term investments:
Commercial paper			—						65,932						—						65,932
Corporate bonds			—						203,960						—						203,960
Certificates of deposit			—						34,026						—						34,026
U.S. Government bonds			—						25,429						—						25,429
U.S. Government agency securities			—						26,986						—						26,986
Asset-backed securities			—						8,627						—						8,627
Foreign government bonds			—						4,700						—						4,700
Municipal bonds			—						205						—						205
Total short-term investments			—						369,865						—						369,865
Long-term investments:
Corporate bonds			—						111,642						—						111,642
U.S. Government bonds			—						20,273						—						20,273
Asset-backed securities			—						45,544						—						45,544
Foreign government bonds			—						10,048						—						10,048
Total long-term investments			—						187,507						—						187,507
Total			$	349,492					$	709,127					$	—					$	1,058,619

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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