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SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION
 12 Months Ended
Jan. 31, 2024
Condensed Financial Information Disclosure [Abstract]  
SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION SUPPLEMENTAL CONSOLIDATED FINANCIAL STATEMENT INFORMATION
Consolidated Balance Sheets

Inventories consisted of the following as of January 31, 2024 and 2023:

January 31,
(in thousands)20242023
Raw materials$4,402 $3,325 
Work-in-process69 40 
Finished goods9,738 9,263 
Total inventories$14,209 $12,628 

Property and equipment, net consisted of the following as of January 31, 2024 and 2023:
January 31,
(in thousands)20242023
Land and buildings$779 $820 
Leasehold improvements11,837 15,026 
Software56,203 73,569 
Equipment, furniture, and other28,505 41,966 
Total cost97,324 131,381 
Less: accumulated depreciation and amortization(49,620)(66,571)
Total property and equipment, net$47,704 $64,810 
Depreciation expense on property and equipment was $27.9 million, $18.6 million, and $20.7 million in the years ended January 31, 2024, 2023, and 2022, respectively.

Prepaid and other current assets consisted of the following as of January 31, 2024 and 2023:

January 31,
(in thousands)20242023
Prepaid expenses$25,718 $23,766 
Other current assets25,614 27,257 
CTI litigation settlement indemnification asset - current portion4,750 11,250 
Cloud computing implementation costs, net - current portion3,423 598 
Insurance recovery receivable— 12,503 
Total prepaid expenses and other current assets$59,505 $75,374 

Other assets consisted of the following as of January 31, 2024 and 2023:
January 31,
(in thousands)20242023
Deferred commissions$54,757 $54,512 
Long-term contract assets, net31,379 37,950 
Capitalized software development costs, net25,319 23,527 
Cloud computing implementation costs, net - long-term portion6,579 2,591 
Noncontrolling equity investments5,146 5,146 
Long-term deferred cost of revenue3,026 4,951 
Contingent consideration receivable - long-term portion2,685 — 
SAFE investment1,700 — 
CTI litigation settlement indemnification asset - long-term portion— 4,750 
Other8,959 14,855 
Total other assets$139,550 $148,282 

We expensed $1.5 million, $0.1 million, and $0.1 million of capitalized cloud computing implementation costs in the years ended January 31, 2024, 2023, and 2022, respectively. Accumulated amortization for these costs was $1.6 million and $0.1 million as of January 31, 2024 and 2023, respectively.

Accrued expenses and other current liabilities consisted of the following as of January 31, 2024 and 2023:

January 31,
(in thousands)20242023
Compensation and benefits, excluding bonus$54,727 $53,460 
Accrued bonus25,816 20,306 
Taxes other than income taxes13,148 16,346 
Preferred Stock dividends payable10,400 10,400 
Operating lease obligations - current portion5,492 7,965 
CTI litigation settlement liability - current portion4,750 11,250 
Contingent consideration - current portion4,446 4,496 
Income taxes 2,394 443 
Professional and consulting fees1,983 2,635 
DOJ legal settlement liability— 7,000 
Other14,277 21,643 
Total accrued expenses and other current liabilities$137,433 $155,944 

Other liabilities consisted of the following as of January 31, 2024 and 2023:
January 31
(in thousands)20242023
Unrecognized tax benefits, including interest and penalties$71,330 $52,887 
Contingent consideration - long-term portion2,815 8,221 
Finance lease obligations - long-term portion1,087 2,308 
CTI litigation settlement liability - long-term portion— 4,750 
Other833 466 
Total other liabilities$76,065 $68,632 

We capitalize certain costs incurred to develop our commercial software products, and we then recognize those costs within cost of revenue as the products are sold. Activity for our capitalized software development costs for the years ended January 31, 2024, 2023, and 2022 was as follows:
Year Ended January 31,
(in thousands)202420232022
Capitalized software development costs, net, beginning of year$23,527 $22,483 $19,250 
Software development costs capitalized during the year9,623 7,595 7,560 
Amortization of capitalized software development costs(7,798)(6,407)(4,247)
Write-offs of capitalized software development costs(136)(6)— 
Foreign currency translation and other103 (138)(80)
Capitalized software development costs, net, end of year$25,319 $23,527 $22,483 

There were no material impairments of previously capitalized software development costs during the years ended January 31, 2024, 2023 and 2022.

Consolidated Statements of Operations
 
Other income (expense), net consisted of the following for the years ended January 31, 2024, 2023, and 2022: 
 Year Ended January 31,
(in thousands)202420232022
Foreign currency (losses) gains, net$(439)$3,453 $(1,644)
Losses on derivative financial instruments, net— — (14,374)
Change in fair value of future tranche right— — 15,810 
Other, net(3,084)(1,471)5,435 
Total other (expense) income, net$(3,523)$1,982 $5,227 

Please refer to Note 9, “Convertible Preferred Stock” for additional information regarding the future tranche right.

Consolidated Statements of Cash Flows
 
The following table provides supplemental information regarding our consolidated cash flows for the years ended January 31, 2024, 2023, and 2022:
 Year Ended January 31,
(in thousands)202420232022
Cash paid for interest$8,094 $4,661 $9,716 
Cash payments of income taxes, net$14,970 $15,886 $42,917 
Non-cash investing and financing transactions: 
Liabilities for contingent consideration in business combinations$2,265 $12,184 $900 
Preferred Stock dividends declared$10,400 $10,400 $10,400 
Finance leases of property and equipment$579 $647 $4,041 
Settlement of Future Tranche Right upon issuance of Series B Preferred Stock$— $— $36,962 
Retirement of treasury stock$— $106,146 $234,999 
Settlement of convertible note premium with common stock$— $— $59,131 
Receipt of common stock from the counterparties under the Note Hedges$— $— $59,651 
Accrued but unpaid purchases of property and equipment$371 $2,353 $750 
Accrued but unpaid purchases of treasury stock$— $616 $— 
Receivable in exchange for sale of divested businesses$6,491 $— $— 
Excise tax on share repurchases$754 $— $—