Derivatives

6 Months Ended

Jul. 31, 2020

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivatives

Derivatives

Details on outstanding foreign currency derivative contracts are presented below (in millions):

	As of
	July 31, 2020		January 31, 2020
Notional amount of foreign currency derivative contracts	$	4,484	$	5,543

The fair value of the Company’s outstanding derivative instruments not designated as hedging instruments are summarized below (in millions):

		As of
	Balance Sheet Location	July 31, 2020		January 31, 2020
Derivative Assets
Foreign currency derivative contracts	Prepaid expenses and other current assets	$	107	$	28
Derivative Liabilities
Foreign currency derivative contracts	Accounts payable, accrued expenses and other liabilities	$	94	$	24

Gains (losses) on derivative instruments not designated as hedging instruments recorded in other income in the condensed consolidated statements of operations are summarized below (in millions):

	Three Months Ended July 31,				Six Months Ended July 31,
	2020		2019		2020		2019
Foreign currency derivative contracts	$	(17)	$	(35)	$	(15)	$	1