Investments and Fair Value Measurements (Tables)

12 Months Ended

Jan. 31, 2023

Schedule of Company's Fair Value Hierarchy for its Financial Assets and Liabilities that are Measured at Fair Value on a Recurring Basis

The Company’s fair value hierarchy for its financial assets and liabilities that are measured at fair value on a recurring basis are as follows (in thousands):


	January 31, 2023								January 31, 2022
	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total

Assets (1)
Cash equivalents (2)
Money market funds	$	64,752	$	—	$	—	$	64,752	$	300,027	$	—	$	—	$	300,027


Other assets
Deferred compensation investments	64		—		—		64		—		—		—		—
Total assets	$	64,816	$	—	$	—	$	64,816	$	300,027	$	—	$	—	$	300,027

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(1) $250.0 million of time deposits, which are included in short-term investments, are excluded since they are carried at cost and approximate fair value.

(2) Cash equivalents exclude $1.6 billion of time deposits, which are carried at cost and approximate fair value.

Schedule of Strategic Investments

The following summarizes the net carrying value of the strategic investments, which are Level 3, within the fair value hierarchy (in thousands):


	January 31,
	2023		2022

Total initial cost	$	40,617	$	18,809
Unrealized net gains due to changes in fair value	6,653		4,823

Carrying value	$	47,270	$	23,632