v3.26.1
Derivative Instruments
 3 Months Ended
Apr. 30, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments

Note 4. Derivative Instruments

The notional amounts of our outstanding foreign currency forward contracts were as follows (in thousands):

 

 

 

April 30,

 

 

January 31,

 

 

 

2026

 

 

2026

 

Forward contracts designated as cash flow hedges

 

$

229,528

 

 

$

219,196

 

Forward contracts not designated as cash flow hedges

 

 

63,893

 

 

 

63,404

 

Total

 

$

293,421

 

 

$

282,600

 

 

 

 

Pre-tax gains (losses) associated with foreign currency forward contracts were as follows (in thousands):

 

 

 

Three Months Ended

 

 

 

April 30,

 

 

 

2026

 

 

2025

 

Forward contracts designated as cash flow hedges:

 

 

 

 

 

 

Gain (loss) recognized in other comprehensive (loss) income, net

 

$

298

 

 

$

(4,488

)

Gain reclassified from accumulated other comprehensive loss into net income

 

 

2,824

 

 

 

35

 

Total gain (loss)

 

$

3,122

 

 

$

(4,453

)

 

 

 

 

 

 

 

Forward contracts not designated as cash flow hedges:

 

 

 

 

 

 

Gain (loss) recognized in net income

 

$

355

 

 

$

(5,040

)

Net gain (loss)

 

$

3,477

 

 

$

(9,493

)

As of April 30, 2026, we expect to reclassify $6.0 million of pre-tax gains out of accumulated other comprehensive loss into earnings within the next twelve months.