v3.24.0.1
Income Taxes (Tables)
 12 Months Ended
Jan. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Net Income (Loss) before Provision of Income Taxes
The components of the net income before the provision for (benefit from) income taxes were as follows:
 Year Ended January 31,
 202420232022
 (in thousands)
Domestic$792,495 $196,224 $1,047,318 
Foreign39,817 53,052 54,314 
Total$832,312 $249,276 $1,101,632 
Schedule of Provision of Income Taxes
The provision for (benefit from) income taxes was as follows:
 Year Ended January 31,
 202420232022
 (in thousands)
Current:
Federal$257,913 $254,505 $69,853 
State44,457 33,548 20,174 
Foreign9,159 18,473 12,027 
Total current income tax expense (benefit)
311,529 306,526 102,054 
Deferred:
Federal(88,110)(173,941)(293,704)
State(20,201)16,673 (82,561)
Foreign(8,368)(3,693)204 
Total deferred income tax expense (benefit)
(116,679)(160,961)(376,061)
Total provision for (benefit from) income taxes
$194,850 $145,565 $(274,007)
Schedule of Provision for Income Taxes
The provision for (benefit from) income taxes differs from the amount computed by applying the statutory federal tax rate as follows:
 Year Ended January 31,
 202420232022
 (in thousands, except percentages)
Tax at federal statutory rate$174,785 $52,277 $231,350 
State taxes37,137 13,666 24,840 
Foreign rate differential2,943 1,017 1,830 
Non-deductible compensation10,639 10,231 — 
Stock-based compensation96,936 124,631 (135,250)
Permanent Items4,016 9,090 3,971 
Foreign-derived intangible income deduction(63,571)(76,686)(34,131)
Research and development credits(39,226)(38,127)(42,973)
Tax uncertainties2,674 2,296 244 
Change in valuation allowance(14,109)39,288 (322,231)
Deferred rate change(6,803)2,014 — 
Other(10,571)5,868 (1,658)
Total$194,850 $145,565 $(274,007)
Effective tax rate23.4 %58.4 %(24.9)%
Schedule of Significant Components of Deferred Income Tax Assets Significant components of our deferred income tax assets as of January 31, 2024 and 2023 are as follows:
 
As of January 31,
 20242023
 (in thousands)
Deferred tax assets:
Net operating loss carryforwards$12,995 $14,788 
Research and development credit carryforwards16,610 12,792 
Stock-based compensation84,906 116,798 
Accruals and reserves39,295 42,271 
Deferred revenue308,152 303,167 
Capitalized research expenditures379,102 245,708 
Operating lease liabilities17,829 23,140 
Other assets
4,105 10,541 
Total deferred tax assets862,994 769,205 
Valuation allowance(35,949)(53,570)
Total deferred tax assets net of valuation allowance827,045 715,635 
Deferred tax liabilities:
Property and equipment and intangible assets(35,007)(36,274)
Deferred contract acquisition costs(83,862)(89,839)
Operating right-of-use assets(14,396)(19,352)
Other liabilities
(35,480)(13,054)
Total deferred tax liabilities(168,745)(158,519)
Net deferred tax assets$658,300 $557,116 
Schedule of Reconciliation of Unrecognized Tax Position
A reconciliation of the beginning and ending balance of total unrecognized tax benefits is as follows:
Unrecognized Tax Benefits (in thousands)Year Ended January 31,
 202420232022
   
Balance, beginning of year$30,404 $19,171 $14,884 
Tax Positions taken in prior year:
Gross increases228 877 — 
Gross decreases— — (3,764)
Tax Positions taken in current year:
Gross increases12,415 10,547 8,211 
Gross decreases(891)— — 
Lapse of Statute of Limitations(384)(191)(160)
Acquisitions— — — 
Balance, end of year$41,772 $30,404 $19,171