v3.26.1
Fair Value Measurements (Tables)
3 Months Ended
Apr. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Hierarchy for Financial Assets and Liabilities Measured at Fair Value on Recurring Basis
The following table presents the fair value hierarchy for financial assets and liabilities measured at fair value on a recurring basis as of April 30, 2026 (in thousands):
Level 1
Level 2
Total
Assets
Cash equivalents:
Money market funds$560,643 $— $560,643 
Short-term investments:
Certificates of deposit— 27,669 27,669 
Asset-backed securities— 205,966 205,966 
Commercial paper— 44,753 44,753 
Corporate notes and bonds— 3,289,706 3,289,706 
Foreign government bonds— 219,696 219,696 
Municipal securities— 41,456 41,456 
U.S. agency obligations— 1,488 1,488 
U.S. Treasury securities— 1,585,405 1,585,405 
Foreign currency derivative contracts— 59 59 
Total financial assets$560,643 $5,416,198 $5,976,841 
Liabilities
Foreign currency derivative contracts$— $(791)$(791)
Total financial liabilities$— $(791)$(791)
The following table presents the fair value hierarchy for financial assets and liabilities measured at fair value on a recurring basis as of January 31, 2026 (in thousands):
Level 1
Level 2
Total
Assets
Cash equivalents:
Money market funds$286,504 $— $286,504 
U.S. Treasury securities— 2,611 2,611 
Short-term investments:
Certificates of deposit— 27,690 27,690 
Asset-backed securities— 261,917 261,917 
Commercial paper— 75,375 75,375 
Corporate notes and bonds— 3,154,559 3,154,559 
Foreign government bonds— 233,401 233,401 
Municipal securities
— 37,453 37,453 
U.S. agency obligations— 11,720 11,720 
U.S. Treasury securities— 1,337,466 1,337,466 
Foreign currency derivative contracts— 822 822 
Total financial assets$286,504 $5,143,014 $5,429,518 
Liabilities
Foreign currency derivative contracts$— $(3,187)$(3,187)
Total financial liabilities$— $(3,187)$(3,187)
Schedule of Fair Value of Outstanding Derivative Instruments
The fair value of our outstanding derivative instruments is summarized below (in thousands): 
April 30, 2026January 31, 2026
Notional amount of foreign currency derivative contracts$120,426 $354,696 
Fair value of foreign currency derivative contracts$121,209 $356,320