v3.24.3
Investments and Fair Value Measurements (Tables)
 9 Months Ended
Oct. 31, 2024
Fair Value Disclosures [Abstract]  
Schedule of 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):
October 31, 2024January 31, 2024
Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Assets
Cash equivalents
Money market funds$1,460,037 $— $— $1,460,037 $2,360,173 $— $— $2,360,173 
U.S. Treasury securities— 2,488,351 — 2,488,351 — 693,599 — 693,599 
Short-term investments
U.S. Treasury securities— — — — — 99,591 — 99,591 
Other assets
Deferred compensation investments4,459 — — 4,459 2,271 — — 2,271 
Total assets$1,464,496 $2,488,351 $— $3,952,847 $2,362,444 $793,190 $— $3,155,634 
Schedule of Changes in Strategic Investments
The Company’s investments of privately held securities as of October 31, 2024, consisted of the following (in thousands):
Privately held equity securitiesPrivately held debt and other securities Total
Initial total cost$62,842 $1,000 $63,842 
Cumulative net gains4,404 — 4,404 
Carrying amount, end of period$67,246 $1,000 $68,246 
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 $56,244 
The components of gains on strategic investments were as follows (in thousands):
Three Months Ended October 31,Nine Months Ended October 31,
2024202320242023
Realized gains recognized on sales of privately held equity securities$— $— $6,227 $— 
Gains on strategic investments$— $— $6,227 $—