Investments and Fair Value Measurements (Tables)

9 Months Ended

Oct. 31, 2022

Investments, Debt and Equity Securities and Fair Value Disclosures [Abstract]

Schedule of fair value of financial assets and liabilities that were measured on a recurring basis

The following table sets forth the fair value of our financial assets that were measured on a recurring basis:

 

	October 31, 2022								January 31, 2022
(In thousands)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Assets:
Money market funds	$	530,708	$	—	$	—	$	530,708	$	1,056,296	$	—	$	—	$	1,056,296
U.S. government and agency securities	—		758,748		—		758,748		—		8,024		—		8,024
Corporate bonds	—		85,407		—		85,407		—		131,015		—		131,015
Commercial paper	—		169,322		—		169,322		—		160,230		—		160,230
Reported as:
Assets:
Cash and cash equivalents							$	619,889							$	1,059,296
Investments, current							924,296								286,337
Investments, non-current							—								9,932
Total							$	1,544,185							$	1,355,565

Schedule of available-for-sale securities reconciliation

The following table presents our investments in available-for-sale debt securities as of October 31, 2022:

 

(In thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Cash and cash equivalents:
U.S. government and agency securities	$	89,181	$	—	$	—	$	89,181
Investments, current:
U.S. government and agency securities	677,567		—		(8,000)		669,567
Corporate bonds	86,194		—		(787)		85,407
Commercial paper	171,013		—		(1,691)		169,322
Total available-for-sale investments	$	1,023,955	$	—	$	(10,478)	$	1,013,477

The following table presents our investments in available-for-sale debt securities as of January 31, 2022:

 

(In thousands)	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
Cash and cash equivalents:
Commercial paper	$	3,000	$	—	$	—	$	3,000
Investments, current:
Corporate bonds	131,253		2		(240)		131,015
Commercial paper	155,469		—		(147)		155,322
Investments, non-current:
U.S. government and agency securities	8,036		—		(12)		8,024
Commercial paper	1,914		—		(6)		1,908
Total available-for-sale investments	$	299,672	$	2	$	(405)	$	299,269

Schedule of unrealized loss on investments

The following table presents the fair values and unrealized losses related to our investments in available-for-sale debt securities classified by length of time that the securities have been in a continuous unrealized loss position as of October 31, 2022:

 

	Less than 12 Months				12 Months or Greater				Total
(In thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. government and agency securities	$	669,567	$	(8,000)	$	—	$	—	$	669,567	$	(8,000)
Corporate bonds	73,075		(763)		12,332		(24)		85,407		(787)
Commercial paper	169,322		(1,691)		—		—		169,322		(1,691)
Total	$	911,964	$	(10,454)	$	12,332	$	(24)	$	924,296	$	(10,478)

The following table presents the fair values and unrealized losses related to our investments in available-for-sale debt securities classified by length of time that the securities have been in a continuous unrealized loss position as of January 31, 2022:

	Less than 12 Months				12 Months or Greater				Total
(In thousands)	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses
U.S. government and agency securities	$	8,024	$	(12)	$	—	$	—	$	8,024	$	(12)
Corporate bonds	130,007		(240)		—		—		130,007		(240)
Commercial paper	145,231		(153)		—		—		145,231		(153)
Total	$	283,262	$	(405)	$	—	$	—	$	283,262	$	(405)

Investments classified by contractual maturity date

The contractual maturities of our investments as of October 31, 2022 are as follows (in thousands):

 

Due within one year	$	1,013,477
Total	$	1,013,477

Schedule of equity investments

The following table provides a summary of our equity investments: 

(In thousands)	October 31, 2022		January 31, 2022
Equity investments without readily determinable fair values	$	37,994	$	33,744
Equity investments under the equity method of accounting	3,331		2,755
Total	$	41,325	$	36,499