Cash Equivalents and Marketable Securities

12 Months Ended

Jan. 31, 2020

Cash and Cash Equivalents [Abstract]

Cash Equivalents and Marketable Securities

The following are the fair values of our cash equivalents and marketable securities as of January 31, 2020 (in thousands):


	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Cash equivalents:
Money market funds	$	34,596	$	—	$	—	$	34,596





Marketable securities:

Asset-backed securities	68,194		235		—		68,429
Corporate notes and obligations	199,226		891		—		200,117
Commercial paper	46,460		7		—		46,467
Municipal securities	20,865		65		—		20,930
Certificates of deposit	14,996		19		—		15,015
U.S. treasury securities	24,563		33		—		24,596
Total cash equivalents and marketable securities	$	408,900	$	1,250	$	—	$	410,150

The following are the fair values of our cash equivalents and marketable securities as of January 31, 2019 (in thousands):


	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Cash equivalents:
Money market funds	$	29,966	$	—	$	—	$	29,966



Commercial paper	9,157		1		—		9,158

Certificates of deposit	3,999		1		—		4,000
Reverse repurchase agreements	5,000		—		—		5,000
Marketable securities:

Asset-backed securities	63,626		16		(57)		63,585
Corporate notes and obligations	140,710		136		(111)		140,735
Commercial paper	101,712		9		(1)		101,720

Certificates of deposit	46,551		21		(1)		46,571
U.S. treasury securities	21,949		—		(14)		21,935
Foreign government obligations	4,000		—		—		4,000
Total cash equivalents and marketable securities	$	426,670	$	184	$	(184)	$	426,670

Maturities of our noncurrent marketable securities generally range from one year to three years at both January 31, 2020 and 2019.

The contractual maturities of investments in available-for-sale securities were as follows (in thousands):


	January 31, 2020						January 31, 2019
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due within one year	$	273,582	$	274,058	$	380,461	$	380,335
Due after one year through five years	135,318		136,092		46,209		46,335
Total investments in marketable securities	$	408,900	$	410,150	$	426,670	$	426,670

The unrealized loss for each of these fixed rate marketable securities was not material as of January 31, 2020 and 2019. We do not believe any of the unrealized losses represent an other-than-temporary impairment based on our evaluation of available evidence as of January 31, 2020 and 2019. We expect to receive the full principal and interest on all of these marketable securities and have the ability and intent to hold these investments until a recovery of fair value.

Realized gains and realized losses on our cash equivalents and marketable securities are included in other income (expense), net on the consolidated statement of operations and were not material for the years ended January 31, 2020, 2019 and 2018.

Reclassification adjustments out of accumulated other comprehensive loss into net loss were not material for the years ended January 31, 2020 and 2019.