v3.26.1
Fair Value Measurements (Tables)
 3 Months Ended
Apr. 30, 2026
Fair Value Disclosures [Abstract]  
Fair Value, Assets Measured on Recurring Basis
The following table presents the fair value hierarchy for the Company’s assets and liabilities measured at fair value on a recurring basis as of April 30, 2026 (in thousands):

Level 1
Level 2
Level 3
Total
Assets:
Cash equivalents:
Money market funds$1,401,999 $— $— $1,401,999 
Time deposits— 107,558 — 107,558 
U.S. government securities— 44,361 — 44,361 
Commercial paper— 2,770 — 2,770 
Short-term investments:
Corporate notes and bonds— 629,364 — 629,364 
U.S. government and agency securities— 211,005 — 211,005 
Certificates of deposit— 25,307 — 25,307 
Commercial paper— 4,607 — 4,607 
Long-term investments:
Corporate notes and bonds— 1,220,148 — 1,220,148 
U.S. government and agency securities— 190,886 — 190,886 
Asset-backed securities— 21,460 — 21,460 
Strategic investments—included in other assets:
Marketable equity securities6,628 — — 6,628 
Non-marketable debt securities— — 5,000 5,000 
Derivative assets—included in prepaid expenses and other current assets:
Foreign currency forward contracts— 2,164 — 2,164 
Total assets$1,408,627 $2,459,630 $5,000 $3,873,257 
Liabilities:
Derivative liabilities—included in accrued expenses and other current liabilities and other liabilities:
Foreign currency forward contracts$— $(1,860)$— $(1,860)
Total liabilities
$— $(1,860)$— $(1,860)
The following table presents the fair value hierarchy for the Company’s assets and liabilities measured at fair value on a recurring basis as of January 31, 2026 (in thousands):
Level 1
Level 2
Level 3
Total
Assets:
Cash equivalents:
Money market funds$1,752,777 $— $— $1,752,777 
Time deposits— 108,727 — 108,727 
U.S. government securities— 94,532 — 94,532 
Commercial paper— 40,379 — 40,379 
Certificates of deposit— 2,808 — 2,808 
Corporate notes and bonds— 75 — 75 
Short-term investments:
Corporate notes and bonds— 860,872 — 860,872 
U.S. government and agency securities— 256,351 — 256,351 
Certificates of deposit— 65,689 — 65,689 
Commercial paper— 18,611 — 18,611 
Long-term investments:
— 
Corporate notes and bonds— 525,964 — 525,964 
U.S. government and agency securities— 229,049 — 229,049 
Strategic investments—included in other assets:
Marketable equity securities6,264 — — 6,264 
Non-marketable debt securities— — 10,000 10,000 
Derivative assets—included in prepaid expenses and other current assets:
Foreign currency forward contracts— 1,779 — 1,779 
Total assets$1,759,041 $2,204,836 $10,000 $3,973,877 
Liabilities:
Derivative liabilities—included in accrued expenses and other current liabilities:
Foreign currency forward contracts$— $(2,141)$— $(2,141)
Total liabilities
$— $(2,141)$— $(2,141)
Schedule of Derivative Instruments The following table summarizes the notional amounts of the Company’s outstanding derivative financial instruments (in thousands):
April 30, 2026January 31, 2026
Foreign currency forward contracts not designated as hedging instruments
$187,161 $228,997 
Foreign currency forward contracts designated as cash flow hedges
256,518 86,992 
Total derivative financial instruments
$443,679 $315,989