Derivatives

9 Months Ended

Oct. 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
	October 31, 2020		January 31, 2020
Notional amount of foreign currency derivative contracts	$	4,826	$	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	October 31, 2020		January 31, 2020
Derivative Assets
Foreign currency derivative contracts	Prepaid expenses and other current assets	$	24	$	28
Derivative Liabilities
Foreign currency derivative contracts	Accounts payable, accrued expenses and other liabilities	$	41	$	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 October 31,				Nine Months Ended October 31,
	2020		2019		2020		2019
Foreign currency derivative contracts	$	4	$	(34)	$	(24)	$	(10)