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Cash Equivalents and Investments | 6 Months Ended
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Jul. 31, 2023
Investments, Debt and Equity Securities [Abstract] |
Cash Equivalents and Investments | Cash Equivalents and Investments Cash Equivalents and Short-term Investments In estimating fair value, the Company uses a three-tier fair value hierarchy as follows: •Level 1 — Valuations based on observable inputs that reflect quoted prices for identical assets or liabilities in active markets. •Level 2 — Valuations based on other inputs that are directly or indirectly observable in the marketplace. •Level 3 — Valuations based on unobservable inputs that are supported by little or no market activity. The following tables present the amortized cost, unrealized gain (loss) and estimated fair value of cash equivalents and short-term investments:
| As of July 31, 2023
| Amortized Cost |  | Unrealized Gain |  | Unrealized Loss |  | Estimated Fair Value
| (dollars in millions)
Level 1: |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |
Money market funds | $ | 223 |  |  | $ | — |  |  | $ | — |  |  | $ | 223 |
Total cash equivalents | 223 |  |  | — |  |  | — |  |  | 223 |
Level 2: |  |  |  |  |  |  |
Short-term investments (Available-for-sale): |  |  |  |  |  |  |
U.S. treasury securities | 1,730 |  |  | — |  |  | (10) |  |  | 1,720 |
Corporate debt securities | 30 |  |  | — |  |  | — |  |  | 30 |
Total short-term investments | 1,760 |  |  | — |  |  | (10) |  |  | 1,750 |
Total | $ | 1,983 |  |  | $ | — |  |  | $ | (10) |  |  | $ | 1,973 |
| As of January 31, 2023
| Amortized Cost |  | Unrealized Gain |  | Unrealized Loss |  | Estimated Fair Value
| (dollars in millions)
Level 1: |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |
Money market funds | $ | 133 |  |  | $ | — |  |  | $ | — |  |  | $ | 133 |
Total cash equivalents | 133 |  |  | — |  |  | — |  |  | 133 |
Level 2: |  |  |  |  |  |  |
Short-term investments (Available-for-sale): |  |  |  |  |  |  |
U.S. treasury securities | 2,207 |  |  | — |  |  | (22) |  |  | 2,185 |
Corporate debt securities | 133 |  |  | — |  |  | (2) |  |  | 131 |
Total short-term investments | 2,340 |  |  | — |  |  | (24) |  |  | 2,316 |
Total | $ | 2,473 |  |  | $ | — |  |  | $ | (24) |  |  | $ | 2,449 |
The following table presents the contractual maturities of the Company’s short-term investments:
| As of July 31, 2023 |  |
| Amortized Cost |  | Estimated Fair Value |  |  |  |
| (dollars in millions) |  |  |  |
Due within one year | $ | 1,564 |  |  | $ | 1,556 |  |  |  |  |
Due between one to five years | 196 |  |  | 194 |  |  |  |  |
Total | $ | 1,760 |  |  | $ | 1,750 |  |  |  |  |
Interest receivable of $15 million and $10 million is included in Prepaid expenses and other current assets on the condensed consolidated balance sheets as of July 31, 2023 and January 31, 2023, respectively. The following table presents the fair values and unrealized losses related to the Company’s investments in available-for-sale debt securities classified by length of time that the securities have been in a continuous unrealized loss position as of July 31, 2023:
| Less Than 12 Months |  | More Than 12 Months |  | Total
| Estimated Fair Value |  | Unrealized Losses |  | Estimated Fair Value |  | Unrealized Losses |  | Estimated Fair Value |  | Unrealized Losses
| (dollars in millions)
U.S. treasury securities | $ | 1,248 |  |  | $ | (5) |  |  | $ | 447 |  |  | $ | (5) |  |  | $ | 1,695 |  |  | $ | (10) |
Corporate debt securities | 18 |  |  | — |  |  | 12 |  |  | — |  |  | 30 |  |  | — |
Total | $ | 1,266 |  |  | $ | (5) |  |  | $ | 459 |  |  | $ | (5) |  |  | $ | 1,725 |  |  | $ | (10) |
The Company had 111 and 159 short-term investments in unrealized loss positions as of July 31, 2023 and January 31, 2023, respectively. For available-for-sale debt securities that have unrealized losses, the Company evaluates whether (i) the Company has the intention to sell any of these investments, (ii) it is not more likely than not that the Company will be required to sell any of these available-for-sale debt securities before recovery of the entire amortized cost basis and (iii) the decline in the fair value of the investment is due to credit or non-credit related factors. There were no material credit or non-credit related impairments for short-term investments as of July 31, 2023 and January 31, 2023. Strategic Investments Strategic investments primarily include equity investments in privately-held companies, which do not have a readily determinable fair value. As of July 31, 2023 and January 31, 2023, the balance of strategic investments was $28 million and $25 million, respectively.

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- Definition The entire disclosure of the components of cash, cash equivalents, and short-term investments. Short-term investments may include current marketable securities. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//320/tableOfContent + Details
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