Revenue Recognition

9 Months Ended

Oct. 31, 2023

Revenue from Contract with Customer [Abstract]

Revenue Recognition

Revenue Recognition

Disaggregation of Revenue

The following table summarizes revenue by region based on the billing address of customers:

	Three Months Ended October 31,								Nine Months Ended October 31,
	2023				2022				2023				2022
	Amount		Percentage of Revenue		Amount		Percentage of Revenue		Amount		Percentage of Revenue		Amount		Percentage of Revenue
	(in thousands, except percentages)
Americas	$	814,311	71.6	%	$	773,576	70.2	%	$	2,407,333	71.2	%	$	2,264,647	69.1	%
Asia Pacific (“APAC”)	143,917		12.7		146,196		13.3		429,703		12.7		444,372		13.6
Europe, Middle East, and Africa (“EMEA”)	178,499		15.7		182,127		16.5		543,731		16.1		566,138		17.3
Total	$	1,136,727	100.0	%	$	1,101,899	100.0	%	$	3,380,767	100.0	%	$	3,275,157	100.0	%

Contract Balances

We receive payments from customers based on a billing schedule as established in our customer contracts. Accounts receivable are recorded when we contractually have the right to consideration. In some arrangements, a right to consideration for our performance under the customer contract may occur before invoicing to the customer, resulting in an unbilled accounts receivable. The amount of unbilled accounts receivable included within accounts receivable, net was $132.3 million and $91.6 million as of October 31, 2023 and January 31, 2023, respectively, and the amount of unbilled accounts receivable included within other assets, noncurrent was immaterial as of October 31, 2023 and January 31, 2023.

Contract liabilities consist of deferred revenue. Revenue is deferred when we have the right to invoice in advance of performance under a customer contract. The current portion of deferred revenue balances is recognized over the next 12 months. The amount of revenue recognized during the three months ended October 31, 2023 and 2022 that was included in deferred revenue at the beginning of each period was $600.8 million and $586.1 million, respectively, and $1,159.6 million and $1,058.7 million during the nine months ended October 31, 2023 and 2022, respectively.

Remaining Performance Obligations

The terms of our subscription agreements are monthly, annual, and multiyear, and we may bill for the full term in advance or on an annual, quarterly, or monthly basis, depending on the billing terms with customers. As of October 31, 2023, the aggregate amount of the transaction price allocated to our remaining performance obligations was $3,571.7 million, which consists of both billed consideration in the amount of $1,315.9 million and unbilled consideration in the amount of $2,255.8 million that we expect to recognize as revenue. We expect to recognize 58% of our remaining performance obligations as revenue over the next 12 months and the remainder thereafter.