v3.24.0.1
Investments and Fair Value Measurements (Tables)
 12 Months Ended
Jan. 31, 2024
Fair Value Disclosures [Abstract]  
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, 2024January 31, 2023
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets
Cash equivalents(2)
Money market funds$2,360,173 $— $— $2,360,173 $64,752 $— $— $64,752 
U.S. Treasury securities— 693,599 — 693,599 — — — — 
Short-term investments(1)
U.S. Treasury securities— 99,591 — 99,591 — — — — 
Other assets
Deferred compensation investments2,271 — — 2,271 64 — — 64 
Total assets$2,362,444 $793,190 $— $3,155,634 $64,816 $— $— $64,816 
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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 as of January 31, 2023.
(2)    Cash equivalents exclude $1.6 billion of time deposits, which are carried at cost and approximate fair value as of January 31, 2023.
Schedule of Strategic Investments
The following summarizes the changes in the net carrying value of strategic investments, which are Level 3, within the fair value hierarchy for the fiscal years ended January 31, 2024 and January 31, 2023 (in thousands):
January 31,
20242023
Carrying amount, beginning of period$47,270 $23,632 
Adjustments related to non-marketable securities:
Purchases17,177 21,807 
Unrealized net gains (loss) due to changes in fair value(1,459)1,831 
Sales of investments(6,838)— 
Other94 — 
Carrying amount, end of period$56,244 $47,270