Fair Value Measurements (Tables)

9 Months Ended

Oct. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring Basis

The following table presents the fair value hierarchy for the Company’s assets measured at fair value on a recurring basis as of October 31, 2022 (in thousands):

	Level 1		Level 2		Total
Cash equivalents:
Money market funds	$	425,221	$	—	$	425,221
Commercial paper	—		89,807		89,807
Corporate notes and bonds	—		1,600		1,600
Short-term investments:
Corporate notes and bonds	—		1,715,493		1,715,493
Commercial paper	—		779,117		779,117
Certificates of deposit	—		405,839		405,839
U.S. government and agency securities	—		223,430		223,430
Long-term investments:
Corporate notes and bonds	—		583,864		583,864
U.S. government and agency securities	—		359,217		359,217
Total	$	425,221	$	4,158,367	$	4,583,588

The following table presents the fair value hierarchy for the Company’s assets measured at fair value on a recurring basis as of January 31, 2022 (in thousands):

	Level 1		Level 2		Total
Cash equivalents:
Money market funds	$	722,492	$	—	$	722,492
Commercial paper	—		77,794		77,794
U.S. government securities	—		36,995		36,995
Corporate notes and bonds	—		7,949		7,949
Short-term investments:
Corporate notes and bonds	—		1,662,436		1,662,436
Commercial paper	—		883,636		883,636
U.S. government and agency securities	—		116,712		116,712
Certificates of deposit	—		103,580		103,580
Long-term investments:
Corporate notes and bonds	—		935,603		935,603
U.S. government and agency securities	—		320,207		320,207
Certificates of deposit	—		397		397
Total	$	722,492	$	4,145,309	$	4,867,801

Schedule of Fair Value Measurements

The following table presents the Company’s strategic investments by type (in thousands):

	October 31, 2022		January 31, 2022
Equity securities:
Non-marketable equity securities under Measurement Alternative	$	170,446	$	170,860
Non-marketable equity securities under equity method	5,000		—
Marketable equity securities	22,462		34,646
Debt securities:
Non-marketable debt securities	1,500		2,250
Total strategic investments—included in other assets	$	199,408	$	207,756

Unrealized Gain (Loss) on Investments

The following table summarizes the unrealized gains and losses included in the carrying value of the Company’s strategic investments in equity securities held as of October 31, 2022 (in thousands):

	Three Months Ended October 31,				Nine Months Ended October 31,
	2022		2021		2022		2021
Non-marketable equity securities under Measurement Alternative:
Upward adjustments	$	1,124	$	—	$	1,124	$	8,060
Impairments	(7,482)		—		(34,037)		—
Marketable equity securities:
Net unrealized gains (losses)	(6,706)		455		(12,183)		455
Total—included in other income (expense), net	$	(13,064)	$	455	$	(45,096)	$	8,515