Fair Value Measurements (Tables)

12 Months Ended

Jan. 31, 2023

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 January 31, 2023 (in thousands):

	Level 1		Level 2		Total
Cash equivalents:
Money market funds	$	379,094	$	—	$	379,094
Commercial paper	—		9,304		9,304
Corporate notes and bonds	—		6,903		6,903
Certificates of deposit	—		3,044		3,044
Short-term investments:
Corporate notes and bonds	—		1,301,296		1,301,296
Commercial paper	—		881,348		881,348
Certificates of deposit	—		445,194		445,194
U.S. government and agency securities	—		440,128		440,128
Long-term investments:
Corporate notes and bonds	—		801,784		801,784
U.S. government and agency securities	—		263,708		263,708
Certificates of deposit	—		7,531		7,531
Total	$	379,094	$	4,160,240	$	4,539,334

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):

	January 31, 2023		January 31, 2022
Equity securities:
Non-marketable equity securities under Measurement Alternative	$	174,248	$	170,860
Non-marketable equity securities under equity method	5,066		—
Marketable equity securities	22,122		34,646
Debt securities:
Non-marketable debt securities	1,500		2,250
Total strategic investments—included in other assets	$	202,936	$	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 January 31, 2023 (in thousands):

	Fiscal Year Ended January 31,
	2023		2022
Non-marketable equity securities under Measurement Alternative:
Upward adjustments	$	4,125	$	32,975
Impairments	(38,036)		—
Marketable equity securities:
Net unrealized losses	(12,524)		(5,354)
Total—included in other income (expense), net	$	(46,435)	$	27,621