| Fair Value Hierarchy for Financial Assets and Liabilities Measured at Fair Value on Recurring Basis |
The following table presents the fair value hierarchy for financial assets measured at fair value on a recurring basis as of April 30, 2018 (in thousands):
|
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
6,366 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
6,366 |
|
|
Commercial paper |
|
|
— |
|
|
|
7,487 |
|
|
|
— |
|
|
|
7,487 |
|
|
U.S. agency obligations |
|
|
— |
|
|
|
8,893 |
|
|
|
— |
|
|
|
8,893 |
|
|
Short-term investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Certificates of deposits |
|
|
— |
|
|
|
11,034 |
|
|
|
— |
|
|
|
11,034 |
|
|
Asset-backed securities |
|
|
— |
|
|
|
69,454 |
|
|
|
— |
|
|
|
69,454 |
|
|
Commercial paper |
|
|
— |
|
|
|
21,277 |
|
|
|
— |
|
|
|
21,277 |
|
|
Corporate notes and bonds |
|
|
— |
|
|
|
154,470 |
|
|
|
— |
|
|
|
154,470 |
|
|
Foreign government bonds |
|
|
— |
|
|
|
1,480 |
|
|
|
— |
|
|
|
1,480 |
|
|
Mortgage backed securities |
|
|
— |
|
|
|
12,929 |
|
|
|
— |
|
|
|
12,929 |
|
|
U.S. agency obligations |
|
|
— |
|
|
|
64,708 |
|
|
|
— |
|
|
|
64,708 |
|
|
U.S. treasury securities |
|
|
— |
|
|
|
122,717 |
|
|
|
— |
|
|
|
122,717 |
|
|
Foreign currency derivative contracts |
|
|
— |
|
|
|
18 |
|
|
|
— |
|
|
|
18 |
|
|
Total |
|
$ |
6,366 |
|
|
$ |
474,467 |
|
|
$ |
— |
|
|
$ |
480,833 |
|
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency derivative contracts |
|
|
— |
|
|
|
305 |
|
|
|
— |
|
|
|
305 |
|
|
Total |
|
$ |
— |
|
|
$ |
305 |
|
|
$ |
— |
|
|
$ |
305 |
|
|
|
|
The following table presents the fair value hierarchy for financial assets measured at fair value on a recurring basis as of January 31, 2018 (in thousands):
|
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
|
Total |
|
|
Assets |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash equivalents: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
25,820 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
25,820 |
|
|
Commercial paper |
|
|
— |
|
|
|
1,999 |
|
|
|
— |
|
|
|
1,999 |
|
|
Corporate notes and bonds |
|
|
— |
|
|
|
2,080 |
|
|
|
— |
|
|
|
2,080 |
|
|
U.S. treasury securities |
|
|
— |
|
|
|
8,000 |
|
|
|
— |
|
|
|
8,000 |
|
|
Short-term investments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset-backed securities |
|
|
— |
|
|
|
67,451 |
|
|
|
— |
|
|
|
67,451 |
|
|
Commercial paper |
|
|
— |
|
|
|
19,914 |
|
|
|
— |
|
|
|
19,914 |
|
|
Corporate notes and bonds |
|
|
— |
|
|
|
159,741 |
|
|
|
— |
|
|
|
159,741 |
|
|
Foreign government bonds |
|
|
— |
|
|
|
1,486 |
|
|
|
— |
|
|
|
1,486 |
|
|
Mortgage backed securities |
|
|
— |
|
|
|
11,480 |
|
|
|
— |
|
|
|
11,480 |
|
|
U.S. agency obligations |
|
|
— |
|
|
|
71,131 |
|
|
|
— |
|
|
|
71,131 |
|
|
U.S. treasury securities |
|
|
— |
|
|
|
110,576 |
|
|
|
— |
|
|
|
110,576 |
|
|
Foreign currency derivative contracts |
|
|
— |
|
|
|
127 |
|
|
|
— |
|
|
|
127 |
|
|
Total |
|
$ |
25,820 |
|
|
$ |
453,985 |
|
|
$ |
— |
|
|
$ |
479,805 |
|
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign currency derivative contracts |
|
|
— |
|
|
|
391 |
|
|
|
— |
|
|
|
391 |
|
|
Total |
|
$ |
— |
|
|
$ |
391 |
|
|
$ |
— |
|
|
$ |
391 |
|
|
|
|
|
| Summary of Outstanding Balance Sheet Hedges |
Details on outstanding balance sheet hedges are presented below as of the date shown below (in thousands):
|
|
|
April 30, |
|
|
January 31, |
|
|
|
|
2018 |
|
|
2018 |
|
|
Notional amount of foreign currency derivative contracts |
|
$ |
9,203 |
|
|
$ |
36,266 |
|
|
Fair value of foreign currency derivative contracts |
|
|
9,491 |
|
|
|
36,531 |
|
|
|
|
|