Fair Value Measurements (Tables)

6 Months Ended

Jul. 31, 2019

Summary of assets and liabilities measured at fair value on a recurring basis

The following table summarizes our financial assets that are measured at fair value on a recurring basis during the period:



	July 31, 2019
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Level 1:
Cash equivalents
Money market funds	$	95,787	$	—	$	—		$	95,787
Level 2:
Available-for-sale securities
Commercial paper	41,197		45		(2		)	41,240
Corporate notes and bonds	351,691		835		(68		)	352,458
U.S. Treasury securities	174,897		172		(31		)	175,038
U.S. government agency securities	137,369		63		(59		)	137,373
Level 2 total	705,154		1,115		(160		)	706,109
Total	$	800,941	$	1,115	$	(160	)	$	801,896

	January 31, 2019
(in thousands)	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Level 1:
Cash equivalents
Money market funds	$	350,063	$	—	$	—		$	350,063
Level 2:
Cash equivalents
Commercial paper	76,828		—		(11		)	76,817
Corporate notes and bonds	2,998		—		—			2,998
U.S. government agency securities	6,491		—		—			6,491
Available-for-sale securities
Commercial paper	86,655		4		(21		)	86,638
Corporate notes and bonds	287,496		389		(105		)	287,780
U.S. Treasury securities	4,982		—		(1		)	4,981
U.S. government agency securities	36,021		7		(4		)	36,024
Level 2 total	501,471		400		(142		)	501,729
Total	$	851,534	$	400	$	(142	)	$	851,792

Fair value of available-for-sale marketable securities by remaining contractual maturities

The fair value of our available-for-sale marketable securities as of July 31, 2019, by remaining contractual maturities, were as follows (in thousands):



Due in one year or less	$	525,963
Due in one to two years	180,146
	$	706,109