Financial Assets and Liabilities (Tables)

9 Months Ended

Jul. 31, 2023

Financial Assets And Liabilities [Abstract]

Summary of Cash Equivalents and Short-Term Investments

As of July 31, 2023, the balances of our cash equivalents and short-term investments were as follows:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses Less Than 12 Continuous Months		Gross Unrealized Losses 12 Continuous Months or Longer		Estimated Fair Value(1)
	(in thousands)
Cash equivalents:
Money market funds	$	200,288	$	—	$	—	$	—	$	200,288
U.S. government agency securities	2,284		—		—		—		2,284
Total:	$	202,572	$	—	$	—	$	—	$	202,572
Short-term investments:
U.S. government agency & T-bills	$	20,595	$	—	$	(82)	$	(6)	$	20,507
Municipal bonds	1,535		—		—		(22)		1,513
Corporate debt securities	96,614		42		(462)		(529)		95,665
Asset-backed securities	30,971		12		(109)		(116)		30,758
Total:	$	149,715	$	54	$	(653)	$	(673)	$	148,443

(1)See Note 8. Fair Value Measurements for further discussion on fair values.

The contractual maturities of our available-for-sale debt securities as of July 31, 2023 were as follows:

	Amortized Cost		Fair Value
	(in thousands)
less than 1 year	$	67,071	$	66,422
1-5 years	78,935		78,386
5-10 years	1,863		1,853
>10 years	1,846		1,782
Total	$	149,715	$	148,443

As of October 31, 2022, the balances of our cash equivalents and short-term investments were as follows:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses Less Than 12 Continuous Months		Gross Unrealized Losses 12 Continuous Months or Longer		Estimated Fair Value(1)
	(in thousands)
Cash equivalents:
Money market funds	$	77,683	$	—	$	—	$	—	$	77,683
Total:	$	77,683	$	—	$	—	$	—	$	77,683
Short-term investments:
U.S. government agency & T-bills	$	25,816	$	—	$	(174)	$	(39)	$	25,603
Municipal bonds	2,970		—		(12)		(80)		2,878
Corporate debt securities	95,899		7		(747)		(1,135)		94,024
Asset-backed securities	25,826		—		(149)		(269)		25,408
Total:	$	150,511	$	7	$	(1,082)	$	(1,523)	$	147,913

(1)See Note 8. Fair Value Measurements for further discussion on fair values.

Schedule of Cash, Cash Equivalents and Restricted Cash

The following table provided a reconciliation of cash, cash equivalents and restricted cash included in the condensed consolidated balance sheets:

	As of
	July 31, 2023		October 31, 2022
	(in thousands)
Cash and cash equivalents	$	1,686,144	$	1,417,608
Restricted cash included in prepaid and other current assets	1,055		1,566
Restricted cash included in other long-term assets	745		690
Total cash, cash equivalents and restricted cash	$	1,687,944	$	1,419,864

Effects on Changes in Fair Values of Non-Designated Forward Contracts

The effects of the non-designated derivative instruments on the condensed consolidated statements of income were summarized as follows:

	Three Months Ended   July 31,				Nine Months Ended   July 31,
	2023		2022		2023		2022
	(in thousands)
Gains (losses) recorded in other income (expense), net	$	(1,205)	$	(5,182)	$	3,532	$	(10,443)

Notional Amounts of Derivative Instruments

The notional amounts in the table below for derivative instruments provided one measure of the transaction volume outstanding:

	As of
	July 31, 2023		October 31, 2022
	(in thousands)
Total gross notional amounts	$	1,283,551	$	1,386,140
Net fair value	$	18,120	$	(50,080)

Fair Values of Derivative Instrument Designated and Non-Designated as Hedging Instruments in Balance Sheet

The following table represented the condensed consolidated balance sheets location and amount of derivative instrument fair values segregated between designated and non-designated hedge instruments:

	Fair values of derivative instruments designated as hedging instruments		Fair values of derivative instruments not designated as hedging instruments
	(in thousands)
Balance at July 31, 2023
Other current assets	$	22,487	$	91
Accrued liabilities	$	4,124	$	334
Balance at October 31, 2022
Other current assets	$	2,315	$	223
Accrued liabilities	$	52,171	$	447

Income Statement Location and Amount of Gains and Losses on Derivative Instrument Fair Values for Designated Hedge Instruments, Net of Tax

The following table represented the location of the amount of gains and losses on derivative instrument fair values for designated hedge instruments, net of tax in the condensed consolidated statements of income:

	Location of  gains (losses) recognized in OCI on derivatives	Amount of  gains (losses) recognized in OCI on derivatives (effective portion)		Location of gains (losses) reclassified from OCI	Amount of gains (losses) reclassified from OCI (effective portion)
	(in thousands)
Three months ended   July 31, 2023
Foreign exchange contracts	Revenue	$	899	Revenue	$	(1,352)
Foreign exchange contracts	Operating expenses	5,008		Operating expenses	(3,898)
Total		$	5,907		$	(5,250)
Three months ended   July 31, 2022
Foreign exchange contracts	Revenue	$	(4,702)	Revenue	$	3,651
Foreign exchange contracts	Operating expenses	(14,349)		Operating expenses	(3,687)
Total		$	(19,051)		$	(36)
Nine months ended   July 31, 2023
Foreign exchange contracts	Revenue	$	7,315	Revenue	$	(10,856)
Foreign exchange contracts	Operating expenses	36,174		Operating expenses	(12,025)
Total		$	43,489		$	(22,881)
Nine months ended   July 31, 2022
Foreign exchange contracts	Revenue	$	(12,527)	Revenue	$	3,309
Foreign exchange contracts	Operating expenses	(29,242)		Operating expenses	(4,852)
Total		$	(41,769)		$	(1,543)