Fair Value Measurements (Tables)

12 Months Ended

Jan. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Hierarchy for Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table presents the fair value hierarchy for financial assets measured at fair value on a recurring basis as of January 31, 2020 (in thousands):

	Level 1		Level 2		Total
Assets
Cash equivalents:
Money market funds	$	24,107	$	—	$	24,107
Commercial paper	—		1,616		1,616
Corporate notes and bonds	—		2,245		2,245
Short-term investments:
Certificates of deposits	—		3,503		3,503
Asset-backed securities	—		100,815		100,815
Commercial paper	—		19,969		19,969
Corporate notes and bonds	—		236,214		236,214
Foreign government bonds	—		3,407		3,407
U.S. treasury securities	—		246,107		246,107
Foreign currency derivative contracts	—		75		75
Total	$	24,107	$	613,951	$	638,058
Liabilities
Foreign currency derivative contracts	—		42		42
Total	$	—	$	42	$	42

The following table presents the fair value hierarchy for financial assets measured at fair value on a recurring basis as of January 31, 2019 (in thousands):

	Level 1		Level 2		Total
Assets
Cash equivalents:
Money market funds	$	39,168	$	—	$	39,168
Corporate notes and bonds	—		1,034		1,034
U.S. treasury securities	—		41,505		41,505
Short-term investments:
Certificates of deposits	—		6,010		6,010
Asset-backed securities	—		78,395		78,395
Commercial paper	—		9,117		9,117
Corporate notes and bonds	—		185,130		185,130
Foreign government bonds	—		1,491		1,491
U.S. agency obligations	—		15,912		15,912
U.S. treasury securities	—		243,135		243,135
Total	$	39,168	$	581,729	$	620,897
Liabilities
Foreign currency derivative contracts	—		88		88
Total	$	—	$	88	$	88

Summary Fair Value of Outstanding Derivative Instruments

The fair value of our outstanding derivative instruments is summarized below (in thousands):

	January 31,
	2020		2019
Notional amount of foreign currency derivative contracts	$	7,304	$	(5,112	)
Fair value of foreign currency derivative contracts	7,271		(5,024		)

Summary of Outstanding Balance Sheet Hedges

Details on outstanding balance sheet hedges are presented below as of the date shown below (in thousands):

		January 31,
		2020		2019
Derivative Assets	Balance Sheet Location
Derivatives not designated as hedging instruments:
Foreign currency derivative contracts	Prepaid expenses and other current assets	$	75	$	—
Derivative Liabilities
Derivatives not designated as hedging instruments:
Foreign currency derivative contracts	Accrued expenses	$	42	$	88