v3.24.1.1.u2
Investments and Fair Value Measurements (Tables)
 3 Months Ended
Apr. 30, 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):
April 30, 2024January 31, 2024
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets
Cash equivalents
Money market funds$1,940,184 $— $— $1,940,184 $2,360,173 $— $— $2,360,173 
U.S. Treasury securities— 1,493,492 — 1,493,492 — 693,599 — 693,599 
Short-term investments
U.S. Treasury securities— — — — — 99,591 — 99,591 
Other assets
Deferred compensation investments2,940 — — 2,940 2,271 — — 2,271 
Total assets$1,943,124 $1,493,492 $— $3,436,616 $2,362,444 $793,190 $— $3,155,634 
Schedule of Changes in Strategic Investments
The Company’s investments of privately held securities as of April 30, 2024, consisted of the following (in thousands):
Privately held equity securitiesPrivately held debt and other securities Total
Initial total cost$52,548 $1,000 $53,548 
Cumulative net gains4,871 — 4,871 
Carrying amount, end of period$57,419 $1,000 $58,419 
The Company’s investments of privately held securities as of January 31, 2024, consisted of the following (in thousands):
Privately held equity securitiesPrivately held debt and other securities Total
Initial total cost$50,373 $1,000 $51,373 
Cumulative net gains4,871 — 4,871 
Carrying amount, end of period$55,244 $1,000 $56,244 
The components of gains on strategic investments were as follows (in thousands):
Three Months Ended April 30,
20242023
Realized gains recognized on sales of privately held equity securities$6,881 $— 
Gains on strategic investments$6,881 $—