v3.24.2.u1
Investments and Fair Value Measurements (Tables)
 6 Months Ended
Jul. 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):
July 31, 2024January 31, 2024
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets
Cash equivalents
Money market funds$1,505,049 $— $— $1,505,049 $2,360,173 $— $— $2,360,173 
U.S. Treasury securities— 2,190,251 — 2,190,251 — 693,599 — 693,599 
Short-term investments
U.S. Treasury securities— — — — — 99,591 — 99,591 
Other assets
Deferred compensation investments3,749 — — 3,749 2,271 — — 2,271 
Total assets$1,508,798 $2,190,251 $— $3,699,049 $2,362,444 $793,190 $— $3,155,634 
Schedule of Changes in Strategic Investments
The Company’s investments of privately held securities as of July 31, 2024, consisted of the following (in thousands):
Privately held equity securitiesPrivately held debt and other securities Total
Initial total cost$52,842 $1,000 $53,842 
Cumulative net gains4,404 — 4,404 
Carrying amount, end of period$57,246 $1,000 $58,246 
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 $56,244 
The components of gains and losses on strategic investments were as follows (in thousands):
Three Months Ended July 31,Six Months Ended July 31,
2024202320242023
Realized gains (losses) recognized on sales of privately held equity securities$(655)$— $6,227 $— 
Gains (losses) on strategic investments$(655)$— $6,227 $—