Cash Equivalents and Marketable Securities

3 Months Ended

Apr. 30, 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 April 30, 2020 (in thousands):


	Amortized Cost		Unrealized Gains		Unrealized Losses		Estimated Fair Value
Cash equivalents:
Money market funds	$	88,990	$	—	$	—	$	88,990







Marketable securities:

Asset-backed securities	38,823		338		—		39,161
Corporate notes and obligations	197,496		1,454		(26)		198,924
Commercial paper	51,093		22		(3)		51,112
Municipal securities	12,855		134		(7)		12,982
Certificates of deposit	29,997		44		(48)		29,993
U.S. treasury securities	22,035		194		—		22,229

Total cash equivalents and marketable securities	$	441,289	$	2,186	$	(84)	$	443,391

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


	April 30, 2020						January 31, 2020
	Amortized Cost		Estimated Fair Value		Amortized Cost		Estimated Fair Value
Due within one year	$	341,399	$	342,437	$	273,582	$	274,058
Due after one year through five years	99,890		100,954		135,318		136,092
Total investments in marketable securities	$	441,289	$	443,391	$	408,900	$	410,150

The unrealized loss for each of these fixed rate marketable securities was not material as of April 30, 2020 and January 31, 2020. The unrealized losses on these investments were primarily due to changes in market interest rates. 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. We determined that no allowance for credit losses was required for the three months ended April 30, 2020 and 2019.

Realized gains and realized losses on our cash equivalents and marketable securities are included in other income (expense), net on the condensed consolidated statement of operations and were not material for the three months ended April 30, 2020 and 2019.

Reclassification adjustments out of accumulated other comprehensive income into net loss were not material for the three months ended April 30, 2020 and 2019.