Income Taxes (Tables)

12 Months Ended

Jan. 31, 2024

Income Tax Disclosure [Abstract]

Schedule of Net Income (Loss) before Provision of Income Taxes

The components of the net income before the provision for (benefit from) income taxes were as follows:

	Year Ended January 31,
	2024		2023		2022
	(in thousands)
Domestic	$	792,495	$	196,224	$	1,047,318
Foreign	39,817		53,052		54,314
Total	$	832,312	$	249,276	$	1,101,632

Schedule of Provision of Income Taxes

The provision for (benefit from) income taxes was as follows:

	Year Ended January 31,
	2024		2023		2022
	(in thousands)
Current:
Federal	$	257,913	$	254,505	$	69,853
State	44,457		33,548		20,174
Foreign	9,159		18,473		12,027
Total current income tax expense (benefit)	311,529		306,526		102,054
Deferred:
Federal	(88,110)		(173,941)		(293,704)
State	(20,201)		16,673		(82,561)
Foreign	(8,368)		(3,693)		204
Total deferred income tax expense (benefit)	(116,679)		(160,961)		(376,061)
Total provision for (benefit from) income taxes	$	194,850	$	145,565	$	(274,007)

Schedule of Provision for Income Taxes

The provision for (benefit from) income taxes differs from the amount computed by applying the statutory federal tax rate as follows:

	Year Ended January 31,
	2024			2023			2022
	(in thousands, except percentages)
Tax at federal statutory rate	$	174,785		$	52,277		$	231,350
State taxes	37,137			13,666			24,840
Foreign rate differential	2,943			1,017			1,830
Non-deductible compensation	10,639			10,231			—
Stock-based compensation	96,936			124,631			(135,250)
Permanent Items	4,016			9,090			3,971
Foreign-derived intangible income deduction	(63,571)			(76,686)			(34,131)
Research and development credits	(39,226)			(38,127)			(42,973)
Tax uncertainties	2,674			2,296			244
Change in valuation allowance	(14,109)			39,288			(322,231)
Deferred rate change	(6,803)			2,014			—
Other	(10,571)			5,868			(1,658)
Total	$	194,850		$	145,565		$	(274,007)
Effective tax rate	23.4		%	58.4		%	(24.9)		%

Schedule of Significant Components of Deferred Income Tax Assets

Significant components of our deferred income tax assets as of January 31, 2024 and 2023 are as follows:

	As of January 31,
	2024		2023
	(in thousands)
Deferred tax assets:
Net operating loss carryforwards	$	12,995	$	14,788
Research and development credit carryforwards	16,610		12,792
Stock-based compensation	84,906		116,798
Accruals and reserves	39,295		42,271
Deferred revenue	308,152		303,167
Capitalized research expenditures	379,102		245,708
Operating lease liabilities	17,829		23,140
Other assets	4,105		10,541
Total deferred tax assets	862,994		769,205
Valuation allowance	(35,949)		(53,570)
Total deferred tax assets net of valuation allowance	827,045		715,635
Deferred tax liabilities:
Property and equipment and intangible assets	(35,007)		(36,274)
Deferred contract acquisition costs	(83,862)		(89,839)
Operating right-of-use assets	(14,396)		(19,352)
Other liabilities	(35,480)		(13,054)
Total deferred tax liabilities	(168,745)		(158,519)
Net deferred tax assets	$	658,300	$	557,116

Schedule of Reconciliation of Unrecognized Tax Position

A reconciliation of the beginning and ending balance of total unrecognized tax benefits is as follows:

Unrecognized Tax Benefits (in thousands)	Year Ended January 31,
	2024		2023		2022
Balance, beginning of year	$	30,404	$	19,171	$	14,884
Tax Positions taken in prior year:
Gross increases	228		877		—
Gross decreases	—		—		(3,764)
Tax Positions taken in current year:
Gross increases	12,415		10,547		8,211
Gross decreases	(891)		—		—
Lapse of Statute of Limitations	(384)		(191)		(160)
Acquisitions	—		—		—
Balance, end of year	$	41,772	$	30,404	$	19,171