v3.26.1
Fair Value Measurement
 3 Months Ended
Apr. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value Measurement Fair Value Measurement
The Company uses a three-tier fair value hierarchy, which prioritizes the inputs used in the valuation methodologies in measuring fair value:
Level 1.    Quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2.    Significant other inputs that are directly or indirectly observable in the marketplace.
Level 3.    Significant unobservable inputs which are supported by little or no market activity.
All of the Company’s cash equivalents, marketable securities and foreign currency derivative contracts are classified within Level 1 or Level 2 because these assets are valued using quoted market prices or alternative pricing sources and models utilizing observable market inputs.
The following table presents information about the Company’s assets that were measured at fair value as of April 30, 2026 and indicates the fair value hierarchy of the valuation (in millions):
DescriptionQuoted Prices in
Active Markets
for Identical Assets
(Level 1)		Significant Other
Observable
Inputs
(Level 2)		Significant
Unobservable
Inputs
(Level 3)		Fair Value
Cash equivalents (1):
Time deposits$0 $993 $0 $993 
Money market mutual funds5,672 0 0 5,672 
Cash equivalent securities 0 161 0 161 
Marketable securities:
Corporate notes and obligations0 1,467 0 1,467 
U.S. treasury securities0 673 0 673 
Mortgage-backed obligations0 32 0 32 
Asset-backed securities0 551 0 551 
Municipal securities0 29 0 29 
Commercial paper0 94 0 94 
Covered bonds0 1 0 1 
Other0 55 0 55 
Strategic investments:
Equity securities3 0 0 3 
Foreign currency derivative contracts 0 143 0 143 
Total assets$5,675 $4,199 $0 $9,874 
Liabilities:
Foreign currency derivative contracts0 124 0 124 
Total liabilities$0 $124 $0 $124 
(1) Included in “cash and cash equivalents” in the accompanying condensed consolidated balance sheets in addition to $2.1 billion of cash, as of April 30, 2026.
The following table presents information about the Company’s assets that were measured at fair value as of January 31, 2026 and indicates the fair value hierarchy of the valuation (in millions):
DescriptionQuoted Prices in
Active Markets
for Identical Assets
(Level 1)		Significant Other
Observable Inputs (Level 2)		Significant
Unobservable
Inputs
(Level 3)		Fair Value
Cash equivalents (1):
Time deposits$0 $1,393 $0 $1,393 
Money market mutual funds3,204 0 0 3,204 
Cash equivalent securities0 567 0 567 
Marketable securities:
Corporate notes and obligations0 1,353 0 1,353 
U.S. treasury securities0 170 0 170 
Mortgage-backed obligations0 31 0 31 
Asset-backed securities0 622 0 622 
Municipal securities0 17 0 17 
Commercial paper0 30 0 30 
Covered bonds0 1 0 1 
Other0 14 0 14 
Strategic investments:
Equity securities5 0 0 5 
Total assets$3,209 $4,198 $0 $7,407 
(1) Included in “cash and cash equivalents” in the accompanying condensed consolidated balance sheets in addition to $2.2 billion of cash, as of January 31, 2026.
Strategic Investments Measured and Recorded at Fair Value on a Non-Recurring Basis
Substantially all of the Company's privately held equity securities and other investments are recorded at fair value on a non-recurring basis. The estimation of fair value for these investments requires the use of significant unobservable inputs, and as a result, the Company deems these assets as Level 3 within the fair value measurement framework. For privately held equity investments without a readily determinable fair value, the Company applies valuation methods based on information available, including the market approach, the common stock equivalent method, and option pricing models (“OPM”). Observable transactions, such as the issuance of new equity by an investee, are indicators of investee enterprise value and are used to estimate the fair value of the privately held equity investments. An OPM may be utilized to allocate value to the various classes of securities of the investee, including classes owned by the Company. Such information, available to the Company from investee companies, is supplemented with estimates such as volatility, expected time to liquidity and the rights and obligations of the securities the Company holds. When indicators of impairment are observed for privately held equity securities, the Company generally uses the market approach to estimate the fair value of its investment, giving consideration to the latest observable transactions, as well as the investee's current and projected financial performance and other significant inputs and assumptions, including estimated time to exit, selection and analysis of guideline public companies and the rights and obligations of the securities the Company holds. The Company's privately held equity securities and other investments amounted to approximately $7.8 billion and $7.6 billion as of April 30, 2026 and January 31, 2026, respectively.