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Cash Equivalents and Investments
 6 Months Ended
Jul. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Cash Equivalents and Investments Cash Equivalents and Investments
The following is a summary of the Company’s cash equivalents, short-term investments, and long-term investments on the condensed consolidated balance sheets (in thousands):

July 31, 2024
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
Money market funds$636,041 $— $— $636,041 
U.S. government securities276,147 — (2)276,145 
Time deposits65,287 — — 65,287 
Commercial paper2,348 — — 2,348 
Total cash equivalents979,823 — (2)979,821 
Investments:
Corporate notes and bonds1,274,237 1,525 (1,682)1,274,080 
U.S. government and agency securities672,427 346 (2,427)670,346 
Commercial paper443,345 40 (226)443,159 
Certificates of deposit258,208 108 (33)258,283 
Total investments2,648,217 2,019 (4,368)2,645,868 
Total cash equivalents and investments$3,628,040 $2,019 $(4,370)$3,625,689 

January 31, 2024
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Cash equivalents:
U.S. government securities$742,235 $1 $(2)$742,234 
Money market funds533,211 — — 533,211 
Time deposits56,263 — — 56,263 
Total cash equivalents1,331,709 1 (2)1,331,708 
Investments:
Corporate notes and bonds1,549,151 1,959 (3,394)1,547,716 
U.S. government and agency securities877,496 574 (4,653)873,417 
Commercial paper353,525 154 (131)353,548 
Certificates of deposit224,869 271 (15)225,125 
Total investments3,005,041 2,958 (8,193)2,999,806 
Total cash equivalents and investments$4,336,750 $2,959 $(8,195)$4,331,514 

The Company included $21.2 million and $24.2 million of interest receivable in prepaid expenses and other current assets on the condensed consolidated balance sheets as of July 31, 2024 and January 31, 2024, respectively. The Company did not recognize an allowance for credit losses against interest receivable as of July 31, 2024 and January 31, 2024 because such potential losses were not material.
As of July 31, 2024, the contractual maturities of the Company’s available-for-sale marketable debt securities did not exceed 36 months. The estimated fair values of available-for-sale marketable debt securities, classified as short-term or long-term investments on the Company’s condensed consolidated balance sheets, by remaining contractual maturity, are as follows (in thousands):

July 31, 2024
Estimated
Fair Value
Due within 1 year$1,948,462 
Due in 1 year to 3 years697,406 
Total$2,645,868 

The following tables show the fair values of, and the gross unrealized losses on, the Company’s available-for-sale marketable debt securities, classified by the length of time that the securities have been in a continuous unrealized loss position and aggregated by investment type, on the condensed consolidated balance sheets (in thousands):

July 31, 2024
Less than 12 Months12 Months or GreaterTotal
Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
Cash equivalents:
U.S. government securities$179,497 $(2)$— $— $179,497 $(2)
Commercial paper2,348 — — — 2,348 — 
Total cash equivalents181,845 (2)— — 181,845 (2)
Investments:
Corporate notes and bonds527,359 (807)276,449 (875)803,808 (1,682)
U.S. government and agency securities122,169 (174)333,091 (2,253)455,260 (2,427)
Commercial paper316,822 (226)— — 316,822 (226)
Certificates of deposit45,260 (33)— — 45,260 (33)
Total investments1,011,610 (1,240)609,540 (3,128)1,621,150 (4,368)
Total cash equivalents and investments$1,193,455 $(1,242)$609,540 $(3,128)$1,802,995 $(4,370)
January 31, 2024
Less than 12 Months12 Months or GreaterTotal
Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses		Fair ValueGross
Unrealized
Losses
Cash equivalents:
U.S. government securities$338,893 $(2)$— $— $338,893 $(2)
Total cash equivalents338,893 (2)— — 338,893 (2)
Investments:
Corporate notes and bonds625,766 (1,259)321,952 (2,135)947,718 (3,394)
U.S. government and agency securities525,408 (1,323)191,863 (3,330)717,271 (4,653)
Commercial paper172,422 (131)— — 172,422 (131)
Certificates of deposit71,813 (15)— — 71,813 (15)
Total investments1,395,409 (2,728)513,815 (5,465)1,909,224 (8,193)
Total cash equivalents and investments$1,734,302 $(2,730)$513,815 $(5,465)$2,248,117 $(8,195)

For available-for-sale marketable debt securities with unrealized loss positions, the Company does not intend to sell these securities and it is more likely than not that the Company will hold these securities until maturity or a recovery of the cost basis. The decline in fair values of these securities due to credit related factors was not material as of July 31, 2024 and January 31, 2024.

See Note 5, “Fair Value Measurements,” for information regarding the Company’s strategic investments.