XML 39 R12.htm IDEA: XBRL DOCUMENT v3.24.1
Marketable Securities
 12 Months Ended
Jan. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Marketable Securities
4Marketable Securities
The following is a summary of our marketable securities (in thousands):
As of January 31, 2024
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Treasury bills and U.S government securities641,263 29 (100)641,192 
Corporate bonds1,993 — (2)1,991 
Agency bonds174,990 — (28)174,962 
Total marketable securities$818,246 $29 $(130)$818,145 
As of January 31, 2023
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Estimated
Fair Value
Commercial paper$62,470 $— $— $62,470 
Treasury bills and U.S government securities (1)
$234,848 $— $(308)$234,540 
Corporate bonds46,684 — (198)46,486 
Municipal bonds6,374 — (66)6,308 
Agency bonds7,959 — (47)7,912 
Total marketable securities$358,335 $— $(619)$357,716 
(1) Treasury bills with both amortized cost and estimated fair value of $10.0 million are included in cash and cash equivalents due to their original maturity of three months or less.
As of January 31, 2024 and 2023, none and $2.9 million, respectively, of our marketable securities had remaining contractual maturities of one year or more.
As of January 31, 2024 and 2023, $3.3 million and $3.5 million, respectively, of interest receivable was included in prepaid expenses and other current assets on the consolidated balance sheets. We did not recognize an allowance for credit losses against interest receivable as of January 31, 2024 or 2023.
Unrealized losses during the period are a result of changes in market conditions. We do not believe that any unrealized losses are attributable to credit-related factors based on our evaluation of available evidence. To determine whether a decline in value is related to credit loss, we evaluate, among other factors, the extent to which
the fair value is less than the amortized cost basis and any adverse conditions specifically related to an issuer of a security or its industry.