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Revenue from Contracts with Customers
3 Months Ended
Apr. 30, 2020
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers
The following table reflects our contract liabilities balances (in thousands):
April 30,
2020
January 31,
2020
Deferred revenue$427,475  $460,561  
Other contract liabilities11,728  12,225  
Deferred revenue, non-current75,519  81,926  
Total contract liabilities$514,722  $554,712  
Significant changes in the contract liabilities balances during the period ended April 30, 2020 are as follows (in thousands):
Contract Liabilities
January 31, 2020$554,712  
Performance obligations satisfied during the period that were included in the contract liability balance at the beginning of the period(165,645) 
Increases due to invoicing prior to satisfaction of performance obligations125,655  
April 30, 2020$514,722  
Remaining Performance Obligations
The transaction price allocated to remaining performance obligations represents contracted revenue that has been billed but not recognized, and unbilled non-cancelable amounts that will be recognized as revenue in future periods. Transaction price allocated to the remaining performance obligation is influenced by several factors, including seasonality, the timing of renewals and average contract terms.
During the three months ended April 30, 2020, net revenue recognized from our remaining performance obligations satisfied in previous periods was not material.
As of April 30, 2020, approximately $827.8 million of revenue is expected to be recognized from remaining performance obligations in the amount of approximately $554.7 million over the next 12 months and approximately $273.1 million thereafter.
Contract Assets
Contract assets consist of the right to consideration in exchange for product offerings that we have transferred to a customer when that right is conditional on something other than the passage of time (e.g., performance prior to invoicing on fixed fee service arrangements with substantive acceptance terms). We record unbilled accounts receivable related to revenue recognized in excess of amounts invoiced as we have an unconditional right to invoice and receive payment in the future related to those fulfilled obligations. As of April 30, 2020 and January 31, 2020, contract assets were $4.1 million and $4.6 million, respectively, which are included in prepaid expenses and other current assets.