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Fair Value Measurements (Tables)

9 Months Ended

Oct. 31, 2023

Fair Value Disclosures [Abstract]

Schedule 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:

			October 31, 2023
(in thousands)			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Estimated Fair Value
Level 1:
Cash equivalents(1)
Money market funds			$	697,467					$	—					$	—					$	697,467
Level 2:
Cash equivalents(1)
Commercial paper			26,950						—						(5)						26,945
U.S. governmental securities			38,784						—						—						38,784
Available-for-sale securities
Commercial paper			96,544						—						(37)						96,507
Corporate notes and bonds			257,224						—						(2,074)						255,150
U.S. governmental securities			105,680						—						(250)						105,430
Level 2 total			525,182						—						(2,366)						522,816
Total			$	1,222,649					$	—					$	(2,366)					$	1,220,283
			January 31, 2023
(in thousands)			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Estimated Fair Value
Level 1:
Cash equivalents(1)
Money market funds			$	133,009					$	—					$	—					$	133,009
Level 2:
Cash equivalents(1)
Commercial paper			9,992						—						(2)						9,990
Available-for-sale securities
Commercial paper			85,957						—						(258)						85,699
Corporate notes and bonds			367,930						101						(3,771)						364,260
Municipal notes and bonds			7,983						—						(65)						7,918
U.S. governmental securities			38,344						4						(405)						37,943
Level 2 total			510,206						105						(4,501)						505,810
Total			$	643,215					$	105					$	(4,501)					$	638,819

(1) Included in “cash and cash equivalents” in our consolidated balance sheets as of October 31, 2023 and January 31, 2023, in addition to cash of $425.4 million and $578.9 million.

Schedule of Fair Value of Available-for-sale Marketable Securities by Remaining Contractual Maturities

The fair values of our available-for-sale securities as of October 31, 2023, by remaining contractual maturities, were as follows (in thousands):

Due in one year or less			$	401,639
Due in one to two years			55,448
			$	457,087

Schedule of Convertible Senior Notes

(in thousands)			October 31, 2023						January 31, 2023
0.5% Convertible Senior Notes due in 2023
Aggregate principal amount			$	—					$	37,083
Fair value amount			—						38,981
0% Convertible Senior Notes due in 2024
Aggregate principal amount			$	690,000					$	690,000
Fair value amount			680,326						655,666

X

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

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Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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).

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