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Debt (Tables)
 12 Months Ended
Jan. 31, 2021
Debt Disclosure [Abstract]  
Schedule of Convertible Debt
January 31,
(in thousands)20212020
0.5% Convertible Senior Notes due in 2023
Aggregate principal amount $115,000 $575,000 
Fair value amount373,928 743,504 
0.0% Convertible Senior Notes due in 2024
Aggregate principal amount$690,000 $— 
Fair value amount725,100 — 
January 31,
(in thousands)20212020
2023 Notes (effective interest rate of 5.9%):
Principal$575,000 $575,000 
Less: extinguishment or conversion(460,000)— 
Unpaid principal115,000 575,000 
Less: unamortized debt discount(15,116)(101,461)
Less: unamortized transaction costs(1,224)(8,218)
Net carrying value of current and noncurrent liability component$98,660 $465,321 
Proceeds allocated to the conversion option (debt discount)$134,667 $134,667 
Less: extinguishment or conversion(31,933)— 
Less: transaction costs(3,336)(3,336)
Net carrying value of mezzanine and permanent equity component$99,398 $131,331 
Excess of if-converted value over principal$259,578 
2024 Notes (effective interest rate of 3.8%):
Principal$690,000 
Less: unamortized debt discount(63,619)
Less: unamortized transaction costs(11,353)
Net carrying value of noncurrent liability component$615,028 
Proceeds allocated to the conversion option (debt discount)$64,453 
Less: transaction costs(1,185)
Net carrying value of permanent equity component$63,268 
Excess of if-converted value over principal$— 

Interest expense recognized related to the Notes was as follows:
Year Ended January 31,
(in thousands)202120202019
Contractual interest expense$2,773 $2,865 $1,071 
Amortization of debt discount25,828 24,411 8,795 
Amortization of transaction costs2,173 1,978 712 
Total$30,774 $29,254 $10,578 
The capped call transactions were as follows:
(in thousands, except per share amounts)2023 Notes2024 Notes
Aggregate cost of capped calls$67,563 $31,395 
Initial strike price per share (1)
$71.50 $420.24 
Initial cap price per share (1)
$110.00 $525.30 
Shares of our common stock covered by the capped calls (1)
8,042 1,642 
(1) Subject to adjustments for certain events, such as merger events and tender offers, and anti-dilution adjustments