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Derivative Instruments
 12 Months Ended
Jan. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments

Note 6. Derivative Instruments

The notional amounts of our outstanding foreign currency forward contracts were as follows (in thousands):

 

 

 

January 31,

 

 

 

2026

 

 

2025

 

Forward contracts designated as cash flow hedges

 

$

219,196

 

 

$

34,082

 

Forward contracts not designated as cash flow hedges

 

 

63,404

 

 

 

67,551

 

Total

 

$

282,600

 

 

$

101,633

 

Pre-tax gains (losses) associated with foreign currency forward contracts were as follows (in thousands):

 

 

 

Year Ended January 31,

 

 

 

2026

 

Forward contracts designated as cash flow hedges

 

 

 

Gain recognized in other comprehensive income (loss), net

 

$

3,589

 

Gain reclassified from accumulated other comprehensive loss into net income

 

 

4,065

 

Total gain

 

$

7,654

 

 

 

 

 

Forward contracts not designated as cash flow hedges

 

 

 

Loss recognized in net income

 

$

(6,899

)

Net Gain

 

$

755

 

Pre-tax gains (losses) associated with foreign currency forward contracts were not material for the year ended January 31, 2025.

As of January 31, 2026, we expect to reclassify $5.3 million of pre-tax gains out of accumulated other loss into earnings within the next twelve months.