v3.26.1
Income Taxes
 3 Months Ended
Apr. 30, 2026
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
We compute our provision for income taxes by applying the estimated annual effective tax rate to year-to-date ordinary income and adjust the provision for discrete tax items recorded in the period. In each quarter, we update the estimated annual effective tax rate and make a year-to-date adjustment to the provision.
The following table provides details of the provision for income taxes:
Three Months Ended April 30,
20262025
(in thousands, except percentages)
Income before provision for income taxes$531,620 $315,765 
Provision for income taxes105,943 61,162 
Effective tax rate19.9 %19.4 %
For both the three months ended April 30, 2026 and 2025, the effective tax rate differed from the U.S. federal statutory rate due primarily to the foreign-derived deduction eligible income, tax benefits related to stock-based compensation, and research credits offset by tax shortfalls on stock-based compensation, state income taxes, and other compensation-related permanent differences.