Document and Entity Information
Document and Entity Information - USD ($) shares in Millions, $ in Billions | 12 Months Ended | ||
Jan. 31, 2020 | Feb. 28, 2020 | Jul. 31, 2019 | |
Entity Information [Line Items] | |||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Jan. 31, 2020 | ||
Document Transition Report | false | ||
Entity File Number | 001-35680 | ||
Entity Registrant Name | WORKDAY, INC. | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 20-2480422 | ||
Entity Address, Address Line One | 6110 Stoneridge Mall Road | ||
Entity Address, City or Town | Pleasanton | ||
Entity Address, State or Province | CA | ||
Entity Address, Postal Zip Code | 94588 | ||
City Area Code | 925 | ||
Local Phone Number | 951-9000 | ||
Title of 12(b) Security | Class A Common Stock, par value $0.001 | ||
Trading Symbol | WDAY | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Large Accelerated Filer | ||
Entity Small Business | false | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 32.9 | ||
Documents Incorporated by Reference | Information required in response to Part III of Form 10-K (Items 10, 11, 12, 13 and 14) is hereby incorporated by reference to portions of the registrant’s Proxy Statement for the Annual Meeting of Stockholders to be held in 2020. The Proxy Statement will be filed by the registrant with the Securities and Exchange Commission no later than 120 days after the end of the registrant’s fiscal year ended January 31, 2020. | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --01-31 | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Entity Central Index Key | 0001327811 | ||
Class A Common Stock | |||
Entity Information [Line Items] | |||
Entity Common Stock, Shares Outstanding | 170 | ||
Class B Common Stock | |||
Entity Information [Line Items] | |||
Entity Common Stock, Shares Outstanding | 62 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jan. 31, 2020 | Jan. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 731,141 | $ 638,554 |
Marketable securities | 1,213,432 | 1,139,864 |
Trade and other receivables, net of allowance for doubtful accounts of $6,762 and $5,965, respectively | 877,578 | 704,680 |
Deferred costs | 100,459 | 80,809 |
Prepaid expenses and other current assets | 172,012 | 136,689 |
Total current assets | 3,094,622 | 2,700,596 |
Property and equipment, net | 936,179 | 796,907 |
Operating lease right-of-use assets | 290,902 | |
Deferred costs, noncurrent | 222,395 | 183,518 |
Acquisition-related intangible assets, net | 308,401 | 313,240 |
Goodwill | 1,819,261 | 1,379,125 |
Other assets | 144,605 | 147,360 |
Total assets | 6,816,365 | 5,520,746 |
Current liabilities: | ||
Accounts payable | 57,556 | 29,093 |
Accrued expenses and other current liabilities | 130,050 | 123,542 |
Accrued compensation | 248,154 | 207,924 |
Unearned revenue | 2,223,178 | 1,837,618 |
Operating lease liabilities | 66,147 | |
Current portion of convertible senior notes, net | 244,319 | 232,514 |
Total current liabilities | 2,969,404 | 2,430,691 |
Convertible senior notes, net | 1,017,967 | 972,264 |
Unearned revenue, noncurrent | 86,025 | 111,652 |
Operating lease liabilities, noncurrent | 241,425 | |
Other liabilities | 14,993 | 47,697 |
Total liabilities | 4,329,814 | 3,562,304 |
Commitments and contingencies (Note 13) | ||
Stockholders’ equity: | ||
Preferred stock, $0.001 par value; 10 million shares authorized as of January 31, 2020, and 2019; no shares issued and outstanding as of January 31, 2020, and 2019 | 0 | 0 |
Additional paid-in capital | 5,090,187 | 4,105,334 |
Accumulated other comprehensive income (loss) | 23,492 | (809) |
Accumulated deficit | (2,627,359) | (2,146,304) |
Total stockholders’ equity | 2,486,551 | 1,958,442 |
Total liabilities and stockholders’ equity | 6,816,365 | 5,520,746 |
Class A Common Stock | ||
Stockholders’ equity: | ||
Common stock, value | 170 | 157 |
Class B Common Stock | ||
Stockholders’ equity: | ||
Common stock, value | $ 61 | $ 64 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Jan. 31, 2020 | Jan. 31, 2019 |
Net of allowance for doubtful accounts | $ 6,762 | $ 5,965 |
Preferred stock, par value (dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Class A Common Stock | ||
Common stock, par value per share (dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 750,000,000 | 750,000,000 |
Common stock, shares issued | 170,000,000 | 157,000,000 |
Common stock, shares outstanding | 170,000,000 | 157,000,000 |
Class B Common Stock | ||
Common stock, par value per share (dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 240,000,000 | 240,000,000 |
Common stock, shares issued | 62,000,000 | 65,000,000 |
Common stock, shares outstanding | 62,000,000 | 65,000,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | ||
Revenues: | ||||
Total revenues | $ 3,627,206 | $ 2,822,180 | $ 2,143,050 | |
Costs and expenses: | ||||
Product development | [1] | 1,549,906 | 1,211,832 | 910,584 |
Sales and marketing | [1] | 1,146,548 | 891,345 | 683,367 |
General and administrative | [1] | 367,724 | 347,337 | 222,909 |
Total costs and expenses | 4,129,436 | 3,285,464 | 2,446,273 | |
Operating loss | (502,230) | (463,284) | (303,223) | |
Other income (expense), net | 19,783 | 39,532 | (11,563) | |
Loss before provision for (benefit from) income taxes | (482,447) | (423,752) | (314,786) | |
Provision for (benefit from) income taxes | (1,773) | (5,494) | 6,436 | |
Net loss | (480,674) | (418,258) | (321,222) | |
Net loss attributable to Class A and Class B common stockholders | $ (480,674) | $ (418,258) | $ (321,222) | |
Net loss per share attributable to Class A and Class B common stockholders, basic and diluted (in dollars per share) | $ (2.12) | $ (1.93) | $ (1.55) | |
Weighted-average shares used to compute net loss per share attributable to Class A and Class B common stockholders, basic and diluted (in shares) | 227,185 | 216,789 | 207,774 | |
Subscription services | ||||
Revenues: | ||||
Total revenues | $ 3,096,389 | $ 2,385,769 | $ 1,787,833 | |
Costs and expenses: | ||||
Total costs and expenses | [1] | 488,513 | 379,877 | 273,461 |
Professional services | ||||
Revenues: | ||||
Total revenues | 530,817 | 436,411 | 355,217 | |
Costs and expenses: | ||||
Total costs and expenses | [1] | $ 576,745 | $ 455,073 | $ 355,952 |
[1] | Costs and expenses include share-based compensation expenses as follows: Costs of subscription services $49,919 $36,754 $26,280 Costs of professional services $80,401 $55,535 $37,592 Product development $434,188 $320,876 $229,819 Sales and marketing $176,758 $132,810 $100,762 General and administrative $118,614 $127,443 $83,972 |
Consolidated Statements of Op_2
Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Costs of subscription services | |||
Share-based compensation expense | $ 49,919 | $ 36,754 | $ 26,280 |
Costs of professional services | |||
Share-based compensation expense | 80,401 | 55,535 | 37,592 |
Product development | |||
Share-based compensation expense | 434,188 | 320,876 | 229,819 |
Sales and marketing | |||
Share-based compensation expense | 176,758 | 132,810 | 100,762 |
General and administrative | |||
Share-based compensation expense | $ 118,614 | $ 127,443 | $ 83,972 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Statement of Comprehensive Income [Abstract] | |||
Net loss | $ (480,674) | $ (418,258) | $ (321,222) |
Other comprehensive income (loss), net of tax: | |||
Net change in foreign currency translation adjustment | (575) | (1,635) | 1,581 |
Net change in unrealized gains (losses) on available-for-sale debt securities, net of tax provision of $839, $660, and $0, respectively | 2,392 | 2,534 | (2,687) |
Net change in market value of effective foreign currency forward exchange contracts, net of tax provision of $3,216, $6,386, and $0, respectively | 22,484 | ||
Net change in market value of effective foreign currency forward exchange contracts, net of tax provision of $3,216, $6,386, and $0, respectively | 44,705 | (47,378) | |
Other comprehensive income (loss), net of tax: | 24,301 | 45,604 | (48,484) |
Comprehensive loss | $ (456,373) | $ (372,654) | $ (369,706) |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Loss (Parenthetical) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Statement of Comprehensive Income [Abstract] | |||
Unrealized gains (losses) on available for sale debt securities, tax | $ 839 | $ 660 | $ 0 |
Foreign currency forward exchange contracts, tax | $ 3,216 | ||
Foreign currency forward exchange contracts, tax | $ 6,386 | $ 0 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock | Additional Paid-In Capital | Treasury Stock | Accumulated Other Comprehensive Income (Loss) | Accumulated Deficit |
Balance, shares at Jan. 31, 2017 | 202,943,405 | |||||
Balance at Jan. 31, 2017 | $ 202 | $ 2,681,200 | $ 0 | $ 2,071 | $ (1,406,865) | |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Issuance of common stock under employee equity plans (in shares) | 3,318,514 | |||||
Issuance of common stock under employee equity plans | $ 3 | 69,052 | ||||
Vesting of early exercised stock options | 775 | |||||
Vested restricted stock units (in shares) | 5,715,576 | |||||
Vested restricted stock units | $ 6 | (6) | ||||
Share-based compensation | 478,425 | |||||
Purchase of convertible senior notes hedges | (175,530) | |||||
Issuance of warrants | 80,805 | |||||
Equity component of convertible senior notes | 219,702 | |||||
Other comprehensive income (loss) | $ (48,484) | (48,484) | ||||
Net loss | (321,222) | (321,222) | ||||
Balance, shares at Jan. 31, 2018 | 211,977,495 | |||||
Balance at Jan. 31, 2018 | 1,580,365 | $ 211 | 3,354,423 | 0 | (46,413) | (1,727,856) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Cumulative-effect adjustment to Accumulated deficit related to the adoption of ASUs | Accounting Standards Update 2016-09 | 231 | |||||
Issuance of common stock under employee equity plans (in shares) | 2,317,463 | |||||
Issuance of common stock under employee equity plans | $ 2 | 37,752 | 55,813 | |||
Vested restricted stock units (in shares) | 6,273,733 | |||||
Vested restricted stock units | $ 6 | (6) | ||||
Share-based compensation | 652,404 | |||||
Equity awards assumed in business combination | 4,350 | |||||
Exercise of convertible senior notes hedges | 193,680 | (193,679) | ||||
Settlement of convertible senior notes (in shares) | 1,457,382 | |||||
Settlement of convertible senior notes | $ 2 | (24) | 17 | |||
Settlement of warrants (in shares) | 25,990 | |||||
Settlement of warrants | (137,245) | 137,849 | (617) | |||
Other comprehensive income (loss) | 45,604 | 45,604 | ||||
Net loss | (418,258) | (418,258) | ||||
Balance, shares at Jan. 31, 2019 | 222,052,063 | |||||
Balance at Jan. 31, 2019 | 1,958,442 | $ 221 | 4,105,334 | 0 | (809) | (2,146,304) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Cumulative-effect adjustment to Accumulated deficit related to the adoption of ASUs | Accounting Standards Update 2016-16 | 427 | |||||
Issuance of common stock under employee equity plans (in shares) | 3,073,454 | |||||
Issuance of common stock under employee equity plans | $ 3 | 125,670 | ||||
Vested restricted stock units (in shares) | 6,582,657 | |||||
Vested restricted stock units | $ 7 | (7) | ||||
Share-based compensation | 858,809 | |||||
Settlement of convertible senior notes (in shares) | 217 | |||||
Other comprehensive income (loss) | 24,301 | 24,301 | ||||
Net loss | (480,674) | (480,674) | ||||
Balance, shares at Jan. 31, 2020 | 231,708,391 | |||||
Balance at Jan. 31, 2020 | $ 2,486,551 | $ 231 | 5,090,187 | $ 0 | $ 23,492 | (2,627,359) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||
Cumulative-effect adjustment to Accumulated deficit related to the adoption of ASUs | Accounting Standards Update 2018-07 | $ 381 | $ (381) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Cash flows from operating activities | |||
Net loss | $ (480,674) | $ (418,258) | $ (321,222) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | |||
Depreciation and amortization | 276,278 | 198,111 | 135,723 |
Share-based compensation expenses | 859,571 | 652,465 | 478,425 |
Amortization of deferred costs | 90,641 | 71,238 | 57,562 |
Amortization of debt discount and issuance costs | 54,034 | 59,974 | 43,916 |
Non-cash lease expense | 67,325 | 0 | 0 |
Other | (35,063) | (53,195) | (8,379) |
Changes in operating assets and liabilities, net of business combinations: | |||
Trade and other receivables, net | (176,141) | (160,527) | (114,613) |
Deferred costs | (149,168) | (131,996) | (92,552) |
Prepaid expenses and other assets | (17,736) | (16,344) | (68,983) |
Accounts payable | 20,293 | 5,877 | (7,249) |
Accrued expenses and other liabilities | 220 | 54,895 | 47,515 |
Unearned revenue | 355,018 | 344,418 | 315,584 |
Net cash provided by (used in) operating activities | 864,598 | 606,658 | 465,727 |
Cash flows from investing activities | |||
Purchases of marketable securities | (1,797,468) | (1,989,868) | (2,515,997) |
Maturities of marketable securities | 1,686,643 | 2,090,693 | 1,591,554 |
Sales of marketable securities | 56,508 | 949,970 | 243,727 |
Owned real estate projects | (99,308) | (181,180) | (124,811) |
Capital expenditures, excluding owned real estate projects | (243,694) | (202,507) | (141,536) |
Business combinations, net of cash acquired | (473,603) | (1,474,337) | (5,744) |
Purchase of other intangible assets | (850) | (10,450) | (11,000) |
Purchases of non-marketable equity and other investments | (25,393) | (43,016) | (16,199) |
Sales and maturities of non-marketable equity and other investments | 252 | 17,911 | 1,026 |
Other | (9) | 0 | 0 |
Net cash provided by (used in) investing activities | (896,922) | (842,784) | (978,980) |
Cash flows from financing activities | |||
Proceeds from borrowings on convertible senior notes, net of issuance costs | 0 | 0 | 1,132,101 |
Proceeds from issuance of warrants | 0 | 0 | 80,805 |
Purchase of convertible senior notes hedges | 0 | 0 | (175,530) |
Payments on convertible senior notes | (30) | (350,030) | 0 |
Proceeds from issuance of common stock from employee equity plans | 125,673 | 93,567 | 69,056 |
Other | (519) | (248) | (170) |
Net cash provided by (used in) financing activities | 125,124 | (256,711) | 1,106,262 |
Effect of exchange rate changes | (282) | (614) | 751 |
Net increase (decrease) in cash, cash equivalents, and restricted cash | 92,518 | (493,451) | 593,760 |
Cash, cash equivalents, and restricted cash at the beginning of period | 642,203 | 1,135,654 | 541,894 |
Cash, cash equivalents, and restricted cash at the end of period | 734,721 | 642,203 | 1,135,654 |
Supplemental cash flow data | |||
Cash paid for interest, net of amounts capitalized | 3,306 | 38 | 76 |
Cash paid for income taxes | 9,010 | 6,007 | 3,418 |
Non-cash investing and financing activities: | |||
Purchases of property and equipment, accrued but not paid | 46,027 | 56,308 | 51,545 |
Total cash, cash equivalents, and restricted cash | $ 642,203 | $ 1,135,654 | $ 1,135,654 |
Overview and Basis of Presentat
Overview and Basis of Presentation | 12 Months Ended |
Jan. 31, 2020 | |
Accounting Policies [Abstract] | |
Overview and Basis of Presentation | Overview and Basis of Presentation Company and Background Workday delivers financial management, human capital management, planning, and analytics applications designed for the world’s largest companies, educational institutions, and government agencies. We offer innovative and adaptable technology focused on the consumer internet experience and cloud delivery model. Our applications are designed for global enterprises to manage complex and dynamic operating environments. We provide our customers highly adaptable, accessible, and reliable applications to manage critical business functions that help enable them to optimize their financial and human capital resources. We were originally incorporated in March 2005 in Nevada, and in June 2012, we reincorporated in Delaware. As used in this report, the terms “Workday,” “registrant,” “we,” “us,” and “our” mean Workday, Inc. and its subsidiaries, unless the context indicates otherwise. Fiscal Year Our fiscal year ends on January 31. References to fiscal 2020, for example, refer to the fiscal year ended January 31, 2020. Basis of Presentation These consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and include the results of Workday, Inc. and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated. Certain prior period amounts reported in our consolidated financial statements and notes thereto have been reclassified to conform to current period presentation. Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires us to make certain estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements, as well as the reported amounts of revenues and expenses during the reporting period. These estimates and judgments include, but are not limited to the fair value of assets acquired and liabilities assumed through business combinations, the determination of the period of benefit for deferred commissions, certain assumptions used in the valuation of equity awards, and assumptions used in the valuation of non-marketable equity investments. Actual results could differ from those estimates and such differences could be material to our consolidated financial position and results of operations. Segment Information We operate in one operating segment, cloud applications. Operating segments are defined as components of an enterprise where separate financial information is evaluated regularly by the chief operating decision maker, who is our chief executive officer, in deciding how to allocate resources and assessing performance. Our chief operating decision maker allocates resources and assesses performance based upon discrete financial information at the consolidated level. |
Accounting Standards and Signif
Accounting Standards and Significant Accounting Policies | 12 Months Ended |
Jan. 31, 2020 | |
Accounting Policies [Abstract] | |
Accounting Standards and Significant Accounting Policies | Accounting Standards and Significant Accounting Policies Summary of Significant Accounting Policies Revenue Recognition We derive our revenues primarily from subscription services and professional services. Revenues are recognized when control of these services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to receive in exchange for these services. We determine revenue recognition through the following steps: • Identification of the contract, or contracts, with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, we satisfy a performance obligation Subscription Services Revenues Subscription services revenues primarily consist of fees that provide customers access to one or more of our cloud applications for finance, human resources, planning, and analytics, with routine customer support. Revenue is generally recognized on a ratable basis over the contract term beginning on the date that our service is made available to the customer. Our subscription contracts are generally three years or longer in length, billed annually in advance, and are non-cancelable. Professional Services Revenues Professional services revenues primarily consist of consulting fees for deployment and optimization services, as well as training. Our consulting contracts are billed on a time and materials basis or a fixed price basis. For contracts billed on a time and materials basis, revenue is recognized over time as the professional services are performed. For contracts billed on a fixed price basis, revenue is recognized over time based on the proportion of the professional services performed. Contracts with Multiple Performance Obligations Some of our contracts with customers contain multiple performance obligations. For these contracts, we account for individual performance obligations separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. We determine the standalone selling prices based on our overall pricing objectives, taking into consideration market conditions and other factors, including the value of our contracts, the cloud applications sold, customer demographics, geographic locations, and the number and types of users within our contracts. Fair Value Measurement We measure our cash equivalents, marketable securities, and foreign currency derivative contracts at fair value at each reporting period using a fair value hierarchy that requires that we maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s classification within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Three levels of inputs may be used to measure fair value: Level 1 — Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 — Other inputs that are directly or indirectly observable in the marketplace. Level 3 — Unobservable inputs that are supported by little or no market activity. Cash and Cash Equivalents Cash and cash equivalents consist of highly liquid investments with maturities of three months or less at the time of purchase. Our cash equivalents primarily consist of investments in U.S. treasury securities, U.S. agency obligations, corporate bonds, commercial paper, and money market funds. Debt Securities Our debt securities primarily consist of investments in U.S. treasury securities, U.S. agency obligations, corporate bonds, and commercial paper. We classify our debt securities as available-for-sale at the time of purchase and reevaluate such classification as of each balance sheet date. We consider all debt securities as available for use in current operations, including those with maturity dates beyond one year, and therefore classify these securities as current assets in the accompanying consolidated balance sheets. All debt securities are recorded at their estimated fair value. Unrealized gains and losses on available-for-sale debt securities are recorded in Accumulated other comprehensive income (loss) (“AOCI”). We evaluate our investments to assess whether those in unrealized loss positions are other-than-temporarily impaired. We consider impairments to be other-than-temporary if they are related to deterioration in credit risk or if it is likely we will sell the securities before the recovery of their cost basis. Realized gains and losses and declines in value judged to be other-than-temporary are determined based on the specific identification method and are reported in Other income (expense), net on the consolidated statements of operations. If quoted prices for identical instruments are available in an active market, debt securities are classified within Level 1 of the fair value hierarchy. If quoted prices for identical instruments in active markets are not available, fair values are estimated using quoted prices of similar instruments and are classified within Level 2 of the fair value hierarchy. To date, all of our debt securities can be valued using one of these two methodologies. Equity Investments We hold marketable and non-marketable equity investments, over which we do not have a controlling interest or significant influence. Marketable equity investments are measured using quoted prices in active markets with changes recorded in Other income (expense), net on the consolidated statements of operations. Non-marketable equity investments have no readily determinable fair values and are measured using the measurement alternative, which is defined as cost, less impairment, adjusted for observable price changes from orderly transactions for identical or similar investments of the same issuer. Adjustments are recorded in Other income (expense), net on the consolidated statements of operations. Non-marketable equity investments are valued using significant unobservable inputs or data in an inactive market and the valuation requires our judgment due to the absence of market prices and inherent lack of liquidity. The carrying value for these investments is not adjusted if there are no observable transactions for identical or similar investments of the same issuer or if there are no identified events or changes in circumstances that may indicate impairment. Valuations of non-marketable equity investments are inherently complex due to the lack of readily available market data. In addition, the determination of whether an orderly transaction is for an identical or similar investment requires significant management judgment, including understanding the differences in the rights and obligations of the investments and the extent to which those differences would affect the fair values of those investments. We assess our non-marketable equity investments quarterly for impairment. Our impairment analysis encompasses an assessment of the severity and duration of the impairment and a qualitative and quantitative analysis of other key factors including the investee’s financial metrics, market acceptance of the investee’s product or technology, other competitive products or technology in the market, general market conditions, and the rate at which the investee is using its cash. If our investment is considered to be impaired, we will record an impairment in Other income (expense), net on the consolidated statements of operations and establish a new carrying value for the investment. Trade and Other Receivables Trade and other receivables are primarily comprised of trade receivables that are recorded at the invoice amount, net of an allowance for doubtful accounts, which is not material. Other receivables represent unbilled receivables related to subscription and professional services contracts. Deferred Commissions Sales commissions earned by our sales force are considered incremental and recoverable costs of obtaining a contract with a customer. Sales commissions for initial contracts are deferred and then amortized on a straight-line basis over a period of benefit that we have determined to be five years. We determined the period of benefit by taking into consideration our customer contracts, our technology, and other factors. Sales commissions for renewal contracts are deferred and then amortized on a straight-line basis over the related contractual renewal period. Amortization expense is included in Sales and marketing expenses on the consolidated statements of operations. Derivative Financial Instruments and Hedging Activities We use derivative financial instruments to manage foreign currency risks. Derivative instruments are carried at fair value and recorded as either an asset or liability on the consolidated balance sheets. Gains and losses resulting from changes in fair value are accounted for depending on the use of the derivative and whether it is designated and qualifies for hedge accounting. For derivative instruments designated as cash flow hedges, which we use to hedge certain customer contracts denominated in foreign currencies, the gains or losses are recorded in AOCI and subsequently reclassified to income in the same period that the underlying revenues are earned. For derivative instruments not designated as hedging instruments, which we use to hedge a portion of our net outstanding monetary assets and liabilities, the gains or losses are recorded in Other income (expense), net on the consolidated statement of operations in the period of change. We use nonderivative financial instruments designated as net investment hedges to hedge our net investment in certain foreign subsidiaries. The gains or losses, which are not material, are recorded in the currency translation adjustment component of AOCI, and are reclassified to income in the period in which the hedged subsidiary is either sold or substantially liquidated. Our foreign currency contracts are classified within Level 2 of the fair value hierarchy because the valuation inputs are based on quoted prices and market observable data of similar instruments in active markets, such as currency spot and forward rates. Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation is recorded using the straight-line method over the estimated useful lives of the respective assets. Leasehold improvements are depreciated over the shorter of the related lease term or ten years. Property and equipment is reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. Business Combinations We use our best estimates and assumptions to assign fair value to the tangible and intangible assets acquired and liabilities assumed as of the acquisition date. Our estimates are inherently uncertain and subject to refinement. During the measurement period, which may be up to one year from the acquisition date, we may record adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed, with the corresponding offset to goodwill. In addition, uncertain tax positions and tax-related valuation allowances are initially established in connection with a business combination as of the acquisition date. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to our consolidated statements of operations. Goodwill and Acquisition-Related Intangible Assets Acquisition-related intangible assets with finite lives are amortized over their estimated useful lives. Goodwill amounts are not amortized. Acquisition-related intangible assets and goodwill are tested for impairment at least annually, and more frequently upon the occurrence of certain events. Unearned Revenue Unearned revenue primarily consists of customer billings in advance of revenues being recognized from our subscription contracts. We generally invoice our customers annually in advance for our subscription services. Our typical payment terms provide that customers pay a portion of the total arrangement fee within 30 days of the contract date. Unearned revenue that is anticipated to be recognized during the succeeding twelve Convertible Senior Notes In June 2013, we issued 0.75% convertible senior notes due July 15, 2018, (“2018 Notes”) with a principal amount of $350 million, which were subsequently converted by note holders during the second quarter of fiscal 2019. Concurrently in June 2013, we issued 1.50% convertible senior notes due July 15, 2020 (“2020 Notes”) with a principal amount of $250 million. In September 2017, we issued 0.25% convertible senior notes due October 1, 2022, (“2022 Notes”) with a principal amount of $1.15 billion (together with the 2018 Notes and 2020 Notes, referred to as the “Notes”). In accounting for the issuance of the Notes, we separated each of the Notes into liability and equity components. The carrying amounts of the liability components were calculated by measuring the fair value of similar liabilities that do not have associated convertible features. The carrying amount of the equity components representing the conversion option were determined by deducting the fair value of the liability components from the par value of the respective Notes. These differences represent debt discounts that are amortized to interest expense over the respective terms of the Notes using the effective interest rate method. The equity components are not remeasured as long as they continue to meet the conditions for equity classification. In accounting for the issuance costs related to the Notes, we allocated the total amount of issuance costs incurred to the liability and equity components based on their relative values. Issuance costs attributable to the liability components are being amortized on a straight-line basis, which approximates the effective interest rate method, to interest expense over the respective terms of the Notes. The issuance costs attributable to the equity components were netted against the respective equity components in Additional paid-in capital. Leases We have entered into operating lease agreements for our office space, data centers, and other property and equipment. Operating lease right-of-use assets and operating lease liabilities are recognized at the lease commencement date based on the present value of the lease payments over the lease term. Right-of-use assets also include adjustments related to prepaid or deferred lease payments and lease incentives. As most of our leases do not provide an implicit interest rate, we use our incremental borrowing rate as of the first day of each fiscal quarter for the leases commenced in the respective quarter to determine the present value of lease payments. We recognize variable lease costs in our consolidated statement of operations in the period incurred. Variable lease costs include common area maintenance, utilities, real estate taxes, insurance, and other operating costs that are passed on from the lessor. Options to extend or terminate a lease are included in the lease term when it is reasonably certain that we will exercise such options. The remaining lease term of our leases generally ranges from less than one year to ten years. Advertising Expenses Advertising is expensed as incurred. Advertising expense was $61 million, $51 million, and $43 million for fiscal 2020, 2019, and 2018, respectively. Share-Based Compensation We measure and recognize compensation expense for share-based awards issued to employees and non-employees, including restricted stock units (“RSUs”), performance-based restricted stock units (“PRSUs”), stock options, and purchases under the 2012 Employee Stock Purchase Plan (“ESPP”), on our consolidated statements of operations. For RSUs and PRSUs, fair value is based on the closing price of our common stock on the grant date. Compensation expense, net of estimated forfeitures, is recognized on a straight-line basis over the requisite service period. The requisite service period of the awards is generally the same as the vesting period. For stock options assumed, fair value is estimated using the Black-Scholes option-pricing model. Compensation expense, net of estimated forfeitures, is recognized on a straight-line basis over the requisite service period. We determine the assumptions for the option-pricing model as follows: • Risk-Free Interest Rate. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the date closest to the grant date for zero-coupon U.S. Treasury notes with maturities approximately equal to the expected term of the stock option grants. • Expected Term. The expected term represents the period that our share-based award is expected to be outstanding. The expected term for stock options was determined based on the vesting terms, exercise terms, and contractual lives. • Volatility. The volatility is based on a blend of historical volatility and implied volatility of our common stock. Implied volatility is based on market traded options of our common stock. • Dividend Yield. The dividend yield is assumed to be zero as we have not paid and do not expect to pay dividends. For shares issued under the ESPP, fair value is estimated using the Black-Scholes option-pricing model. Compensation expense is recognized on a straight-line basis over the offering period. We determine the assumptions for the option-pricing model as follows: • Risk-Free Interest Rate. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the date closest to the grant date for zero-coupon U.S. Treasury notes with maturities approximately equal to the expected term of the ESPP purchase rights. • Expected Term. The expected term represents the period that our ESPP is expected to be outstanding. The expected term for the ESPP approximates the offering period. • Volatility. The volatility is based on a blend of historical volatility and implied volatility of our common stock. Implied volatility is based on market traded options of our common stock. • Dividend Yield. The dividend yield is assumed to be zero as we have not paid and do not expect to pay dividends. Income Taxes We record a provision for income taxes for the anticipated tax consequences of the reported results of operations using the asset and liability method. Under this method, we recognize deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the financial reporting and tax basis of assets and liabilities, as well as for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the tax rates that are expected to apply to taxable income for the years in which those tax assets and liabilities are expected to be realized or settled. We record a valuation allowance to reduce our deferred tax assets to the net amount that we believe is more likely than not to be realized. We recognize tax benefits from uncertain tax positions only if we believe that it is more likely than not that the tax position will be sustained on examination by the taxing authorities based on the technical merits of the position. Although we believe that we have adequately reserved for our uncertain tax positions, we can provide no assurance that the final tax outcome of these matters will not be materially different. We make adjustments to these reserves when facts and circumstances change, such as the closing of a tax audit or the refinement of an estimate. To the extent that the final tax outcome of these matters is different than the amounts recorded, such differences will affect the provision for income taxes in the period in which such determination is made and could have a material impact on our financial condition and operating results. The provision for income taxes includes the effects of any accruals that we believe are appropriate, as well as the related net interest and penalties. Warranties and Indemnification Our cloud applications are generally warranted to perform materially in accordance with our online documentation under normal use and circumstances. Additionally, our contracts generally include provisions for indemnifying customers against liabilities if use of our cloud applications infringe a third party’s intellectual property rights. We may also incur liabilities if we breach the security, privacy and/or confidentiality obligations in our contracts. To date, we have not incurred any material costs, and we have not accrued any liabilities in the accompanying consolidated financial statements, as a result of these obligations. In our standard agreements with customers, we commit to defined levels of service availability and performance and, under certain circumstances, permit customers to receive credits in the event that we fail to meet those levels. In the event our failure to meet those levels triggers a termination right for a customer, we permit a terminating customer to receive a refund of prepaid amounts related to unused subscription services. To date, we have not experienced any significant failures to meet defined levels of availability and performance of those obligations and, as a result, we have not accrued any liabilities related to these agreements on the consolidated financial statements. Foreign Currency Exchange The functional currency for certain of our foreign subsidiaries is the U.S. dollar, while others use local currencies. We translate the foreign functional currency financial statements to U.S. dollars for those entities that do not have U.S. dollars as their functional currency using the exchange rates at the balance sheet date for assets and liabilities, the period average exchange rates for revenues and expenses, and the historical exchange rates for equity transactions. The effects of foreign currency translation adjustments are recorded in other comprehensive income (“OCI”) as a component of stockholders’ equity and related periodic movements are summarized as a line item in our consolidated statements of comprehensive loss. Foreign currency transaction gains and losses are included in Other income (expense), net on the consolidated statements of operations. Concentrations of Risk and Significant Customers Our financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents, debt securities, and trade and other receivables. Our deposits exceed federally insured limits. No customer individually accounted for more than 10% of trade and other receivables, net as of January 31, 2020, or 2019. No customer individually accounted for more than 10% of total revenues for any of the periods on the consolidated financial statements. In order to reduce the risk of down-time of our cloud applications, we have established data centers in various geographic regions. We have internal procedures to restore services in the event of disaster at one of our current data center facilities. We serve our customers and users from data center facilities operated by third parties, located in the United States, Europe, and Canada. Even with these procedures for disaster recovery in place, our cloud applications could be significantly interrupted during the implementation of the procedures to restore services. In addition, we rely upon third-party hosted infrastructure partners globally, including Amazon Web Services and Dimension Data, to serve customers and operate certain aspects of our services, such as environments for development testing, training, sales demonstrations, and production usage. Given this, any disruption of or interference at our hosted infrastructure partners would impact our operations and our business could be adversely impacted. Other than the United States, no country individually accounted for more than 10% of total revenues for any of the periods on the consolidated financial statements. Recently Adopted Accounting Pronouncements ASU No. 2016-02 In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842) , which requires the recognition of right-of-use assets and lease liabilities on the balance sheet for those leases currently classified as operating leases under Accounting Standards Codification Topic 840 Leases . Accounting for finance leases remains substantially unchanged. We adopted this standard effective February 1, 2019, using a modified retrospective method, under which financial results reported in periods prior to February 1, 2019, were not adjusted. We elected the package of transition practical expedients, which among other things, does not require reassessment of lease classifications. Additionally, we elected to combine lease and non-lease components for each of our existing underlying asset classes and to not include leases with a term of 12 months or less on our consolidated balance sheets. The most significant impact of adopting this standard was the recognition of $279 million of operating lease right-of-use assets and $307 million of operating lease liabilities on our consolidated balance sheet as of February 1, 2019. Additionally, we reclassified $28 million in previously recognized deferred rent obligations and lease incentives to operating lease right-of-use assets. This adoption did not result in any cumulative-effect adjustments to Accumulated deficit, and there was no material impact on our consolidated statement of operations. For further information, see Note 12, Leases. ASU No. 2017-12 In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815) , to better align an entity’s risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. We adopted this new standard effective February 1, 2019. As a result of adopting the standard, the entire change in the fair value of our foreign currency forward contracts designated as cash flow hedges will be presented in the same income statement line item as the respective hedged items. This adoption did not result in any cumulative-effect adjustments to Accumulated deficit, and the amended presentation guidance was applied prospectively. For further information, see Note 10, Derivative Instruments. ASU No. 2018-02 In February 2018, the FASB issued ASU No. 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income , which provides entities the option to reclassify tax effects stranded in accumulated other comprehensive income as a result of the 2017 Tax Cuts and Jobs Act to retained earnings. We adopted this new standard effective February 1, 2019. The adoption of this new standard did not have a material impact on our consolidated financial statements. ASU No. 2018-07 In June 2018, the FASB issued ASU No. 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Non-employee Share-Based Payment Accounting , which expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from non-employees, with certain exceptions. We adopted this standard effective February 1, 2019, and remeasured all outstanding equity-classified non-employee share-based payment awards at fair value as of the adoption date, which resulted in a $0.4 million cumulative-effect adjustment to Accumulated deficit. Recently Issued Accounting Pronouncements ASU No. 2016-13 In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost, including trade receivables. ASU No. 2016-13 replaces the existing incurred loss impairment model with an expected loss model that requires the use of forward-looking information to calculate credit loss estimates. It also eliminates the concept of other-than-temporary impairment and requires credit losses related to available-for-sale debt securities to be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. These changes may result in more timely recognition of credit losses. We plan to adopt this new standard in the first quarter of our fiscal 2021. The impact on our consolidated financial statements from the adoption of this standard is expected to be immaterial. ASU No. 2018-15 In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract , which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The new standard requires capitalized costs to be amortized on a straight-line basis generally over the term of the arrangement, and the financial statement presentation for these capitalized costs would be the same as that of the fees related to the hosting arrangements. We plan to adopt this standard in the first quarter of our fiscal 2021, on a prospective basis. The impact of our adoption of this standard on our consolidated financial statements will largely depend on the magnitude of implementation costs incurred in our cloud computing arrangements beginning February 1, 2020. Implementation costs capitalized subsequent to adoption will be recognized in operating expenses in our consolidated financial statements over the related contract life. ASU No. 2019-12 In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which simplifies accounting guidance for certain tax matters including franchise taxes, certain transactions that result in a step-up in tax basis of goodwill, and enacted changes in tax laws in interim periods. In addition, it eliminates a company’s need to evaluate certain exceptions relating to the incremental approach for intra-period tax allocation, accounting for basis differences when there are ownership changes in foreign investments, and interim period income tax accounting for year-to-date losses that exceed anticipated losses. The standard is applicable to our consolidated financial statements in interim and annual periods beginning February 1, 2021. Early adoption is permitted. We plan to adopt this guidance in the first quarter of our fiscal 2021. We are currently evaluating the accounting, transition, and disclosure requirements of this standard. |
Investments
Investments | 12 Months Ended |
Jan. 31, 2020 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments | Investments Debt Securities As of January 31, 2020, debt securities consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value U.S. treasury securities $ 312,183 $ 492 $ (5) $ 312,670 U.S. agency obligations 169,613 99 (44) 169,668 Corporate bonds 504,434 2,476 — 506,910 Commercial paper 364,701 — — 364,701 $ 1,350,931 $ 3,067 $ (49) $ 1,353,949 Included in cash and cash equivalents $ 140,517 $ — $ — $ 140,517 Included in marketable securities $ 1,210,414 $ 3,067 $ (49) $ 1,213,432 As of January 31, 2019, debt securities consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value U.S. treasury securities $ 396,347 $ 61 $ (178) $ 396,230 U.S. agency obligations 241,914 73 (151) 241,836 Corporate bonds 419,784 336 (352) 419,768 Commercial paper 254,175 — (2) 254,173 $ 1,312,220 $ 470 $ (683) $ 1,312,007 Included in cash and cash equivalents $ 216,270 $ — $ — $ 216,270 Included in marketable securities $ 1,095,950 $ 470 $ (683) $ 1,095,737 We do not believe the unrealized losses represent other-than-temporary impairments based on our evaluation of available evidence as of January 31, 2020, which includes an assessment of whether it is more likely than not we will be required to sell the investment before recovery of the investment’s amortized cost basis. The unrealized losses on debt securities that have been in a net loss position for 12 months or more were not material as of January 31, 2020. Debt securities included in Marketable securities on the consolidated balance sheets consist of securities with original maturities at the time of purchase greater than three months, and the remainder of the securities is included in Cash and cash equivalents. We sold $6 million, $950 million, and $244 million of our debt securities during fiscal 2020, 2019, and 2018, respectively. The realized gains and losses from the sales were immaterial. Equity Investments Equity investments consisted of the following (in thousands): January 31, Consolidated Balance Sheets Location 2020 2019 Money market funds (1) Cash and cash equivalents $ 386,909 $ 237,071 Marketable equity investments (1) Marketable securities — 44,127 Non-marketable equity investments (2) Other assets 59,026 36,925 $ 445,935 $ 318,123 (1) Investments with readily determinable fair values. (2) Investments in privately held companies without readily determinable fair values. We sold $51 million of marketable equity investments during fiscal 2020, with a corresponding gain recognized of $7 million. There were no sales of marketable equity investments during fiscal 2019 and 2018, respectively. During fiscal 2020, there were $6 million in upward adjustments to the carrying values of non-marketable equity investments and an immaterial amount of downward adjustments. No material adjustments were made to the carrying values during fiscal 2019. In addition, we also recognized a $20 million non-cash gain on the sale of a non-marketable equity investment as part of the Scout acquisition. See Note 7, Business Combinations for further details on the Scout acquisition. Total realized and unrealized gains and losses associated with our equity investments consisted of the following (in thousands): Year Ended January 31, 2020 2019 2018 Net realized gains (losses) recognized on equity investments sold $ 26,837 $ 8,333 $ 720 Net unrealized gains (losses) recognized on equity investments held 6,057 32,127 (692) Total net gains (losses) recognized in other income (expense), net $ 32,894 $ 40,460 $ 28 In February 2020, we purchased an ownership interest in a limited partnership for $50 million. This investment will be accounted for as an equity method investment. |
Fair Value Measurements
Fair Value Measurements | 12 Months Ended |
Jan. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table presents information about our assets and liabilities that are measured at fair value on a recurring basis and their assigned levels within the valuation hierarchy as of January 31, 2020 (in thousands): Level 1 Level 2 Level 3 Total U.S. treasury securities $ 312,670 $ — $ — $ 312,670 U.S. agency obligations — 169,668 — 169,668 Corporate bonds — 506,910 — 506,910 Commercial paper — 364,701 — 364,701 Money market funds 386,909 — — 386,909 Foreign currency derivative assets — 33,274 — 33,274 Total assets $ 699,579 $ 1,074,553 $ — $ 1,774,132 Foreign currency derivative liabilities $ — $ 3,996 $ — $ 3,996 Total liabilities $ — $ 3,996 $ — $ 3,996 The following table presents information about our assets and liabilities that are measured at fair value on a recurring basis and their assigned levels within the valuation hierarchy as of January 31, 2019 (in thousands): Level 1 Level 2 Level 3 Total U.S. treasury securities $ 396,230 $ — $ — $ 396,230 U.S. agency obligations — 241,836 — 241,836 Corporate bonds — 419,768 — 419,768 Commercial paper — 254,173 — 254,173 Money market funds 237,071 — — 237,071 Marketable equity investments 44,127 — — 44,127 Foreign currency derivative assets — 22,570 — 22,570 Total assets $ 677,428 $ 938,347 $ — $ 1,615,775 Foreign currency derivative liabilities $ — $ 3,135 $ — $ 3,135 Total liabilities $ — $ 3,135 $ — $ 3,135 Fair Value Measurements of Other Financial Instruments The following table presents the carrying amounts and estimated fair values of our financial instruments that are not recorded at fair value on the consolidated balance sheets (in thousands): January 31, 2020 January 31, 2019 Net Carrying Amount Estimated Fair Value Net Carrying Amount Estimated Fair Value 1.50% Convertible senior notes $ 244,319 $ 571,057 $ 232,514 $ 557,074 0.25% Convertible senior notes 1,017,967 1,587,978 972,264 1,560,228 The carrying amounts of the Notes represent the liability components of the principal balances as of January 31, 2020, and 2019. The estimated fair values of the Notes, which we have classified as Level 2 financial instruments, were determined based on the quoted bid prices of the Notes in an over-the-counter market on the last trading day of fiscal 2020 and 2019. The if-converted values of the 2020 and 2022 Notes exceeded the principal amounts by $315 million and $293 million, respectively. The if-converted values were determined based on the closing price of our common stock of $184.63 on January 31, 2020. For further information, see Note 11, Convertible Senior Notes, Net. |
Deferred Costs
Deferred Costs | 12 Months Ended |
Jan. 31, 2020 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Deferred Costs | Deferred CostsDeferred costs, which consist of deferred sales commissions, were $323 million and $264 million as of January 31, 2020, and 2019, respectively. Amortization expense for the deferred costs was $91 million, $71 million, and $58 million for fiscal 2020, 2019, and 2018, respectively. There was no impairment loss in relation to the costs capitalized for the periods presented. |
Property and Equipment, Net
Property and Equipment, Net | 12 Months Ended |
Jan. 31, 2020 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment, Net | Property and Equipment, Net Property and equipment, net consisted of the following (in thousands): January 31, 2020 2019 Land and land improvements $ 38,737 $ 22,694 Buildings 489,028 433,863 Computers, equipment, and software 723,482 539,090 Furniture and fixtures 51,917 38,840 Leasehold improvements 189,668 162,657 Property and equipment, gross (1) 1,492,832 1,197,144 Less accumulated depreciation and amortization (556,653) (400,237) Property and equipment, net $ 936,179 $ 796,907 (1) Property and equipment, gross included construction-in-progress for owned real estate projects of $3 million, and $355 million that had not yet been placed in service as of January 31, 2020, and 2019, respectively. The decrease in construction-in-progress for owned real estate projects was due to the completion of our development center in the second quarter of fiscal 2020. |
Business Combinations
Business Combinations | 12 Months Ended |
Jan. 31, 2020 | |
Business Combinations [Abstract] | |
Business Combinations | Business Combinations Fiscal 2020 Scout Acquisition On December 9, 2019, we acquired all outstanding stock of Scout RFP (“Scout”), a cloud-based platform for strategic sourcing and supplier engagement, for total purchase consideration of $513 million, attributable to cash consideration of $485 million and the fair value of a previously held equity interest of $28 million. We believe the acquisition of Scout will accelerate our ability to deliver a comprehensive source-to-pay solution to our customers. The purchase consideration was preliminarily allocated to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date, with the excess recorded to goodwill. The fair values of assets acquired and liabilities assumed may change over the measurement period as additional information is received. The primary areas that are subject to change include income taxes payable and deferred taxes. The measurement period will end no later than one year from the acquisition date. The preliminary purchase consideration allocation was as follows (in thousands): Acquisition-related intangible assets $ 63,400 Other assets acquired 37,087 Liabilities assumed (16,907) Total purchase consideration, inclusive of previously held equity interest 513,492 Estimated goodwill $ 429,912 The fair values and estimated useful lives of the acquired intangible assets by category are as follows (in thousands, except years): Estimated Fair Values Estimated Useful Lives (in Years) Trade name $ 400 1 Developed technology 28,000 5 Customer relationships 35,000 10 Total acquisition-related intangible assets $ 63,400 8 The goodwill recognized was primarily attributable to the assembled workforce and the expected synergies from integrating Scout's technology into our product portfolio. The goodwill is not deductible for U.S. federal income tax purposes. We have included the financial results of Scout in our consolidated financial statements from the date of acquisition. Separate operating results and pro forma results of operations for Scout have not been presented as the effect of this acquisition was not material to our financial results. Other Acquisitions In the second quarter of fiscal 2020, acquisition activity resulted in an increase of $4 million and $9 million in acquired developed technology and goodwill, respectively. Fiscal 2019 Adaptive Insights Acquisition On August 1, 2018, we acquired all outstanding stock of Adaptive Insights for $1.5 billion. The acquisition of Adaptive Insights, a cloud-based provider of business planning software, strengthens our product portfolio and helps enable our customers to better plan, execute, and analyze in one system. The purchase consideration transferred consisted of the following (in thousands): Purchase Consideration Cash paid to common and preferred stockholders, warrant holders, and vested option holders $ 1,408,422 Debt repaid by Workday on behalf of Adaptive Insights 53,696 Transaction costs paid by Workday on behalf of Adaptive Insights 23,375 Fair value of assumed Adaptive Insights awards attributable to pre-combination services (1) 5,424 Total purchase consideration $ 1,490,917 (1) The assumed awards were primarily options, which were valued based upon the Black-Scholes option-pricing model. The purchase consideration was allocated to the tangible and intangible assets acquired and liabilities assumed based on their estimated fair values as of the acquisition date, with the excess recorded to goodwill as shown below. The purchase consideration allocation, which includes measurement period adjustments, was as follows (in thousands): Assets acquired: Cash and cash equivalents $ 37,892 Trade and other receivables, net 23,042 Prepaid expenses and other current assets and other assets 2,581 Property and equipment, net 2,246 Acquisition-related intangible assets 316,000 Total assets acquired $ 381,761 Liabilities assumed: Accounts payable $ 3,115 Accrued expenses and other current liabilities 9,396 Accrued compensation 13,545 Unearned revenue (1) 67,754 Other liabilities 1,919 Total liabilities assumed 95,729 Net assets acquired, excluding goodwill 286,032 Total purchase consideration 1,490,917 Goodwill $ 1,204,885 (1) The cost build-up method was used to determine the fair value of unearned revenue. The goodwill recognized was primarily attributable to the value of the acquired workforce, the opportunity to expand our customer base, and the ability to add breadth and depth to our product portfolio by accelerating our financial planning roadmap. The goodwill is not deductible for U.S. federal income tax purposes. The fair values and estimated useful lives of the acquired intangible assets by category are as follows (in thousands, except years): Estimated Fair Values Estimated Useful Lives (in years) Trade name $ 12,000 1.5 Developed technology 105,000 5 Customer relationships 188,000 9 - 10 Backlog 11,000 2 Total acquisition-related intangible assets $ 316,000 8 The fair values of the trade name and developed technology were determined utilizing the relief-from-royalty method, and the multi-period excess earnings method was utilized to fair value customer relationships and backlog. The valuation model inputs required the application of considerable judgment by management. The acquired finite-lived intangible assets have a total weighted-average amortization period of eight years. The weighted-average amortization period of customer relationships is ten years. We have included the financial results of Adaptive Insights in our consolidated financial statements from the date of acquisition. One-time acquisition related transaction costs of $25 million were expensed as incurred during fiscal 2019, and were recorded in general and administrative expense on our consolidated statements of operations. The pro forma financial information shown below summarizes the combined results of operations for Workday and Adaptive Insights as if the closing of the acquisition had occurred on February 1, 2017, the first day of our fiscal year 2018. The pro forma financial information includes adjustments that are directly attributable to the business combination and are factually supportable. The adjustments primarily reflect the amortization of acquired intangible assets, share-based compensation expense for replacement awards, as well as the pro forma tax impact for such adjustments. The pro forma financial information reflects $67 million of nonrecurring expenses related to acquisition costs and certain compensation expenses. Year Ended January 31, 2019 2018 (in thousands, except per share data) Total revenues $ 2,886,057 $ 2,228,917 Net loss (425,604) (529,404) Net loss per share, basic and diluted (1.96) (2.55) The pro forma financial information is presented for illustrative purposes only and is not necessarily indicative of the operating results that would have been realized if the acquisition had taken place on February 1, 2017. Other Acquisitions In the second quarter of fiscal 2019, we completed two acquisitions resulting in an increase of $12 million and $16 million in developed technology and goodwill, respectively. |
Acquisition-Related Intangible
Acquisition-Related Intangible Assets, Net | 12 Months Ended |
Jan. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Acquisition-Related Intangible Assets, Net | Acquisition-Related Intangible Assets, Net Acquisition-related intangible assets, net consisted of the following (in thousands): January 31, 2020 2019 Developed technology $ 218,400 $ 186,800 Customer relationships 224,000 189,000 Trade name 12,400 12,000 Backlog 11,000 11,000 Acquisition-related intangible assets, gross 465,800 398,800 Less accumulated amortization (157,399) (85,560) Acquisition-related intangible assets, net $ 308,401 $ 313,240 Amortization expense related to acquisition-related intangible assets was $72 million, $49 million, and $19 million for fiscal 2020, 2019, and 2018, respectively. As of January 31, 2020, our future estimated amortization expense related to acquisition-related intangible assets is as follows (in thousands): Fiscal Period: 2021 $ 59,775 2022 52,833 2023 50,109 2024 38,933 2025 27,500 Thereafter 79,251 Total $ 308,401 |
Other Assets
Other Assets | 12 Months Ended |
Jan. 31, 2020 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Other Assets | Other Assets Other assets consisted of the following (in thousands): January 31, 2020 2019 Non-marketable equity and other investments $ 75,004 $ 50,546 Technology patents and other intangible assets, net 17,898 20,335 Derivative assets 9,529 10,035 Deposits 6,335 4,383 Prepayments for third-party hosted infrastructure platforms 4,797 16,976 Net deferred tax assets 6,912 4,544 Other 24,130 40,541 Total $ 144,605 $ 147,360 Technology patents and other intangible assets with estimable useful lives are amortized on a straight-line basis. As of January 31, 2020, the future estimated amortization expense is as follows (in thousands): Fiscal Period: 2021 $ 3,053 2022 2,620 2023 2,348 2024 2,040 2025 1,569 Thereafter 6,268 Total $ 17,898 |
Derivative Instruments
Derivative Instruments | 12 Months Ended |
Jan. 31, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments | Derivative InstrumentsWe conduct business on a global basis in multiple foreign currencies, subjecting Workday to foreign currency risk. To mitigate this risk, we utilize hedging contracts as described below. We do not enter into any derivatives for trading or speculative purposes. Foreign Currency Forward Contracts Designated as Cash Flow Hedges We are exposed to foreign currency fluctuations resulting from customer contracts denominated in foreign currencies. We have a hedging program in which we enter into foreign currency forward contracts related to certain customer contracts. We designate these forward contracts as cash flow hedging instruments since the accounting criteria for such designation have been met. Foreign currency forward contracts designated as cash flow hedges are recorded on the consolidated balance sheets at fair value. Cash flows from such forward contracts are classified as operating activities. Gains or losses resulting from changes in the fair value of these hedges are recorded in AOCI on the consolidated balance sheets and will be subsequently reclassified to the related revenue line item on the consolidated statements of operations in the same period that the underlying revenues are earned. As of January 31, 2020, we estimate that $16 million of net gains recorded in AOCI related to our foreign currency forward contracts designated as cash flow hedges will be reclassified into income within the next 12 months. As of January 31, 2020, and 2019, we had outstanding foreign currency forward contracts designated as cash flow hedges with total notional values of $908 million and $717 million, respectively. All contracts have maturities not greater than 48 months. The notional value represents the amount that will be bought or sold upon maturity of the forward contract. Foreign Currency Forward Contracts Not Designated as Hedges We also enter into foreign currency forward contracts to hedge a portion of our net outstanding monetary assets and liabilities. These forward contracts are intended to offset the foreign currency gains or losses associated with the underlying monetary assets and liabilities and are recorded on the consolidated balance sheets at fair value. These forward contracts are not designated as hedging instruments under applicable accounting guidance, and therefore all changes in the fair value of these forward contracts are recorded in Other income (expense), net on the consolidated statements of operations. Cash flows from such forward contracts are classified as operating activities. As of January 31, 2020, and 2019, we had outstanding forward contracts not designated as hedges with total notional values of $246 million and $198 million, respectively. The fair values of outstanding derivative instruments were as follows (in thousands): Consolidated Balance Sheets Location January 31, 2020 2019 Derivative assets: Foreign currency forward contracts designated as cash flow hedges Prepaid expenses and other current assets $ 20,944 $ 12,076 Foreign currency forward contracts designated as cash flow hedges Other assets 9,529 10,015 Foreign currency forward contracts not designated as hedges Prepaid expenses and other current assets 2,801 459 Foreign currency forward contracts not designated as hedges Other assets — 20 Total derivative assets $ 33,274 $ 22,570 Derivative liabilities: Foreign currency forward contracts designated as cash flow hedges Accrued expenses and other current liabilities $ 1,211 $ 983 Foreign currency forward contracts designated as cash flow hedges Other liabilities 1,809 706 Foreign currency forward contracts not designated as hedges Accrued expenses and other current liabilities 976 1,446 Foreign currency forward contracts not designated as hedges Other liabilities — — Total derivative liabilities $ 3,996 $ 3,135 The effect of foreign currency forward contracts designated as cash flow hedges on the consolidated statements of operations was as follows (in thousands): Consolidated Statements of Operations Location Year Ended January 31, 2020 Total revenues Revenues $ 3,627,206 Amount of gains (losses) related to foreign currency forward contracts designated as cash flow hedges Revenues 6,142 Pre-tax gains (losses) associated with foreign currency forward contracts designated as cash flow hedges were as follows (in thousands): Consolidated Statements of Operations and Statements of Comprehensive Loss Locations Year Ended January 31, 2020 2019 2018 Gains (losses) recognized in OCI Net change in market value of effective foreign currency forward exchange contracts $ 31,842 $ 44,079 $ (45,869) Gains (losses) reclassified from AOCI into income (effective portion) Revenues 6,142 (7,012) 1,509 Gains (losses) recognized in income (amount excluded from effectiveness testing and ineffective portion) (1) Other income (expense), net — 13,868 1,607 (1) Prior to the adoption of ASU No. 2017-12, the changes in value of these foreign currency forward contracts resulting from changes in forward points were excluded from the assessment of hedge effectiveness and were recorded as incurred in Other income (expense), net on the consolidated statements of operations. Upon adoption of ASU No. 2017-12, we elected to prospectively include changes in the value of these contracts resulting from changes in forward points in the assessment of hedge effectiveness. These changes are recorded in AOCI on the consolidated balance sheets and will be subsequently reclassified to the related revenue line item on the consolidated statements of operations in the same period that the underlying revenues are earned. Gains (losses) associated with foreign currency forward contracts not designated as cash flow hedges were as follows (in thousands): Consolidated Statements of Operations Location Year Ended January 31, Derivative Type 2020 2019 2018 Foreign currency forward contracts not designated as hedges Other income (expense), net $ 3,671 $ 4,706 $ (5,641) We are subject to master netting agreements with certain counterparties of the foreign exchange contracts, under which we are permitted to net settle transactions of the same currency with a single net amount payable by one party to the other. It is our policy to present the derivatives gross on the consolidated balance sheets. Our foreign currency forward contracts are not subject to any credit contingent features or collateral requirements. We manage our exposure to counterparty risk by entering into contracts with a diversified group of major financial institutions and by actively monitoring outstanding positions. As of January 31, 2020, information related to these offsetting arrangements was as follows (in thousands): Gross Amounts of Recognized Assets Gross Amounts Offset on the Consolidated Balance Sheets Net Amounts of Assets Presented on the Consolidated Balance Sheets Gross Amounts Not Offset on the Consolidated Balance Sheets Net Assets Exposed Financial Instruments Cash Collateral Received Derivative assets: Counterparty A $ 782 $ — $ 782 $ (902) $ — $ (120) Counterparty B 28,113 — 28,113 (1,078) — 27,035 Counterparty C 4,379 — 4,379 (2,016) — 2,363 Total $ 33,274 $ — $ 33,274 $ (3,996) $ — $ 29,278 Gross Amounts of Recognized Liabilities Gross Amounts Offset on the Consolidated Balance Sheets Net Amounts of Liabilities Presented on the Consolidated Balance Sheets Gross Amounts Not Offset on the Consolidated Balance Sheets Net Liabilities Exposed Financial Instruments Cash Collateral Pledged Derivative liabilities: Counterparty A $ 902 $ — $ 902 $ (902) $ — $ — Counterparty B 1,078 — 1,078 (1,078) — — Counterparty C 2,016 — 2,016 (2,016) — — Total $ 3,996 $ — $ 3,996 $ (3,996) $ — $ — |
Convertible Senior Notes, Net
Convertible Senior Notes, Net | 12 Months Ended |
Jan. 31, 2020 | |
Debt Disclosure [Abstract] | |
Convertible Senior Notes, Net | Convertible Senior Notes, Net Convertible Senior Notes In June 2013, we issued 0.75% convertible senior notes due July 15, 2018 with a principal amount of $350 million. The 2018 Notes were unsecured, unsubordinated obligations, and interest was payable in cash in arrears at a fixed rate of 0.75% on January 15 and July 15 of each year. During fiscal 2019, the 2018 Notes were converted by note holders and we repaid the $350 million principal balance in cash. We also distributed approximately 1.5 million shares of our Class A common stock to note holders during fiscal 2019, which represented the conversion value in excess of the principal amount. In June 2013, we issued 1.50% convertible senior notes due July 15, 2020, with a principal amount of $250 million. The 2020 Notes are unsecured, unsubordinated obligations, and interest is payable in cash in arrears at a fixed rate of 1.50% on January 15 and July 15 of each year. The 2020 Notes mature on July 15, 2020, unless repurchased or converted in accordance with their terms prior to such date. We cannot redeem the 2020 Notes prior to maturity. In September 2017, we issued 0.25% convertible senior notes due October 1, 2022, with a principal amount of $1.15 billion. The 2022 Notes are unsecured, unsubordinated obligations, and interest is payable in cash in arrears at a fixed rate of 0.25% on April 1 and October 1 of each year. The 2022 Notes mature on October 1, 2022, unless repurchased or converted in accordance with their terms prior to such date. We cannot redeem the 2022 Notes prior to maturity. The terms of the Notes are governed by Indentures by and between us and Wells Fargo Bank, National Association, as Trustee (“Indentures”). Upon conversion, holders of the Notes will receive cash, shares of Class A common stock, or a combination of cash and shares of Class A common stock, at our election. For the 2020 Notes, the initial conversion rate is 12.2340 shares of Class A common stock per $1,000 principal amount, which is equal to an initial conversion price of approximately $81.74 per share of Class A common stock, subject to adjustment. Prior to the close of business on March 13, 2020, conversion of the 2020 Notes is subject to the satisfaction of certain conditions, as described below. For the 2022 Notes, the initial conversion rate is 6.7982 shares of Class A common stock per $1,000 principal amount, which is equal to an initial conversion price of approximately $147.10 per share of Class A common stock, subject to adjustment. Prior to the close of business on May 31, 2022, conversion of the 2022 Notes is subject to the satisfaction of certain conditions, as described below. Holders of the Notes who convert their Notes in connection with certain corporate events that constitute a make-whole fundamental change (as defined in the Indentures) are, under certain circumstances, entitled to an increase in the conversion rate. Additionally, in the event of a corporate event that constitutes a fundamental change (as defined in the Indentures), holders of the Notes may require us to repurchase all or a portion of their Notes at a price equal to 100% of the principal amount of the Notes, plus any accrued and unpaid interest. Holders of the 2020 Notes and 2022 Notes may convert all or a portion of their Notes prior to the close of business on March 13, 2020, and May 31, 2022, respectively, in multiples of $1,000 principal amount, only under the following circumstances: • if the last reported sale price of our Class A common stock for at least 20 trading days during a period of 30 consecutive trading days ending on the last trading day of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price of the respective Notes on each applicable trading day; • during the five business day period after any five consecutive trading day period in which the trading price per $1,000 principal amount of the respective Notes for each day of that five day consecutive trading day period was less than 98% of the product of the last reported sale price of our Class A common stock and the conversion rate of the respective Notes on such trading day; or • upon the occurrence of specified corporate events, as noted in the Indentures. On or after March 15, 2020, for the 2020 Notes, and June 1, 2022, for the 2022 Notes, holders of the respective Notes may convert their Notes at any time until the close of business on the second scheduled trading day immediately preceding the respective maturity date of their Notes. In accounting for the issuance of the Notes, we separated each of the Notes into liability and equity components. The carrying amounts of the liability components were calculated by measuring the fair value of similar liabilities that do not have associated convertible features. The carrying amounts of the equity components representing the conversion option were determined by deducting the fair value of the liability components from the par value of the respective Notes. These differences represent debt discounts that are amortized to interest expense over the respective terms of the Notes using the effective interest rate method. The equity components are not remeasured as long as they continue to meet the conditions for equity classification. In accounting for the issuance costs related to the Notes, we allocated the total amount of issuance costs incurred to liability and equity components based on their relative values. Issuance costs attributable to the liability components are being amortized on a straight-line basis, which approximates the effective interest rate method, to interest expense over the respective terms of the Notes. The issuance costs attributable to the equity components were netted against the respective equity components in Additional paid-in capital. For the 2018 Notes, we recorded liability issuance costs of $7 million and equity issuance costs of $2 million. The 2018 Notes were converted and repaid during fiscal 2019. Accordingly, there was no related amortization expense for fiscal 2020. Amortization expense was less than $1 million for fiscal 2019, and $1 million for fiscal 2018. For the 2020 Notes, we recorded liability issuance costs of $5 million and equity issuance costs of $2 million. Amortization expense for the liability issuance costs was less than $1 million for each of fiscal 2020, 2019, and 2018. For the 2022 Notes, we recorded liability issuance costs of $14 million and equity issuance costs of $4 million. Amortization expense for the liability issuance costs was $3 million, $3 million, and $1 million for each of fiscal 2020, 2019, and 2018, respectively. Our outstanding convertible senior notes consist of the following (in thousands): January 31, 2020 January 31, 2019 2020 Notes 2022 Notes 2020 Notes 2022 Notes Principal amounts: Principal $ 249,945 $ 1,150,000 $ 249,975 $ 1,150,000 Unamortized debt discount (5,319) (124,403) (16,480) (167,249) Unamortized debt issuance costs (307) (7,630) (981) (10,487) Net carrying amount of the liability component $ 244,319 $ 1,017,967 $ 232,514 $ 972,264 Carrying amount of the equity component (1) $ 66,007 $ 219,702 $ 66,007 $ 219,702 (1) Included on the consolidated balance sheets within Additional paid-in capital, net of $2 million and $4 million in equity issuance costs for the 2020 Notes and 2022 Notes, respectively. As of January 31, 2020, the 2020 Notes and 2022 Notes have remaining lives of approximately 5 months and 32 months, respectively. For more than 20 trading days during the 30 consecutive trading days ended January 31, 2020, and 2019, the last reported sale price of our Class A common stock exceeded 130% of the conversion price of the 2020 Notes. As a result, the 2020 Notes were convertible at the option of the holders during the first quarter of fiscal 2020, and continue to be convertible at the option of the holders during the first quarter of fiscal 2021. Accordingly, the 2020 Notes are classified as current on the consolidated balance sheets as of January 31, 2020, and 2019. As of the date of this filing, the total amount of the principal balance of the 2020 Notes that has been converted or for which conversion has been requested was not material. The 2022 Notes are classified as noncurrent on the consolidated balance sheets as of January 31, 2020, and 2019, since the criteria for conversion was not met. The effective interest rates of the liability components of the 2018 Notes, 2020 Notes, and 2022 Notes are 5.75%, 6.25%, and 4.60%, respectively. These interest rates were based on the interest rates of similar liabilities at the time of issuance that did not have associated convertible features. The following table sets forth total interest expense recognized related to the Notes (in thousands): Year Ended January 31, 2020 2019 2018 2020 Notes 2022 Notes 2018 Notes 2020 Notes 2022 Notes 2018 Notes 2020 Notes 2022 Notes Contractual interest expense $ 3,749 $ 2,875 $ 1,196 $ 3,750 $ 2,875 $ 2,625 $ 3,750 $ 1,086 Interest cost related to amortization of debt issuance costs 674 2,857 641 673 2,858 1,409 673 1,080 Interest cost related to amortization of the debt discount 11,161 42,846 7,850 10,488 40,939 16,530 9,852 14,989 Interest costs capitalized to property and equipment totaled $6 million, $11 million, and $8 million for fiscal 2020, 2019, and 2018, respectively. Notes Hedges In connection with the issuance of the Notes, we entered into convertible note hedge transactions with respect to our Class A common stock (“Purchased Options”). The Purchased Options are intended to offset potential economic dilution to our Class A common stock upon any conversion of the Notes. The Purchased Options are separate transactions and are not part of the terms of the Notes. We paid an aggregate amount of $144 million for the Purchased Options relating to the 2018 Notes and 2020 Notes, and $176 million for the Purchased Options relating to the 2022 Notes. The amount paid for the Purchased Options is included in Additional paid-in capital on the consolidated balance sheets. The Purchased Options relating to the 2018 Notes gave us the option to purchase, subject to anti-dilution adjustments substantially identical to those in the 2018 Notes, approximately 4.2 million shares of our Class A common stock for $83.28 per share, exercisable upon conversion of the 2018 Notes. During the second quarter of fiscal 2019, we received approximately 1.5 million shares of our Class A common stock from the exercise of the Purchased Options relating to the 2018 Notes. These shares were recorded as treasury stock. The Purchased Options relating to the 2020 Notes give us the option to purchase, subject to anti-dilution adjustments substantially identical to those in the 2020 Notes, approximately 3.1 million shares of our Class A common stock for $81.74 per share, exercisable upon conversion of the 2020 Notes. The Purchased Options relating to the 2022 Notes give us the option to purchase, subject to anti-dilution adjustments substantially identical to those in the 2022 Notes, approximately 7.8 million shares of our Class A common stock for $147.10 per share, exercisable upon conversion of the 2022 Notes. The Purchased Options will expire in 2020 for the 2020 Notes and in 2022 for the 2022 Notes, if not exercised earlier. Warrants In connection with the issuance of the Notes, we also entered into warrant transactions to sell warrants (“Warrants”) to acquire, subject to anti-dilution adjustments, up to approximately 4.2 million shares over 60 scheduled trading days beginning in October 2018, 3.1 million shares over 60 scheduled trading days beginning in October 2020, and 7.8 million shares over 60 scheduled trading days beginning in January 2023 of our Class A common stock at an exercise price of $107.96, $107.96, and $213.96 per share, respectively. If the Warrants are not exercised on their exercise dates, they will expire. If the market value per share of our Class A common stock exceeds the applicable exercise price of the Warrants, the Warrants will have a dilutive effect on our earnings per share assuming that we are profitable. The Warrants are separate transactions and are not part of the terms of the Notes or the Purchased Options. We received aggregate proceeds of $93 million from the sale of the Warrants related to the 2018 Notes and the 2020 Notes, and $81 million from the sale of the Warrants related to the 2022 Notes. The proceeds from the sale of the Warrants are recorded in Additional paid-in capital on the consolidated balance sheets. During fiscal 2019, Warrants related to the 2018 Notes were exercised, and we distributed approximately 1.1 million shares of our Class A common stock to warrant holders primarily utilizing treasury stock. Accordingly, no Warrants remain outstanding related to the 2018 Notes. The number of net shares distributed was determined based on the number of Warrants exercised multiplied by the difference between the exercise price of the Warrants and their daily volume weighted-average stock price. |
Leases
Leases | 12 Months Ended |
Jan. 31, 2020 | |
Leases [Abstract] | |
Leases | Leases We have entered into operating lease agreements for our office space, data centers, and other property and equipment. As of January 31, 2020, total operating lease right-of-use assets and operating lease liabilities were approximately $291 million and $308 million, respectively. We have also entered into finance lease agreements for other property and equipment. As of January 31, 2020, finance leases were not material. The components of operating lease expense were as follows (in thousands): Year Ended January 31, 2020 Operating lease cost $ 85,154 Short-term lease cost 16,260 Variable lease cost 17,845 Total operating lease cost $ 119,259 Prior to the adoption of ASU No. 2016-02 in the first quarter of fiscal 2020, we generally recognized rent expense on a straight-line basis over the period in which we benefited from the lease. Total rent expense associated with operating leases was $99 million and $82 million for fiscal 2019, and 2018, respectively. Information related to our operating lease right-of-use assets and operating lease liabilities was as follows (in thousands, except periods and percentages): Year Ended January 31, 2020 Cash paid for operating lease liabilities $ 75,029 Operating lease right-of-use assets obtained in exchange for new operating lease liabilities (1) 365,305 Year Ended January 31, 2020 Weighted average remaining lease term (in years) 6 Weighted average discount rate 3.36% (1) Includes $279 million for operating leases existing on February 1, 2019, and $86 million for operating leases that commenced during the fiscal year ended January 31, 2020. As of January 31, 2020, maturities of operating lease liabilities were as follows (in thousands): Fiscal period: 2021 $ 75,003 2022 72,938 2023 62,216 2024 53,064 2025 38,614 Thereafter 45,980 Total lease payments 347,815 Less imputed interest (40,243) Total $ 307,572 As of January 31, 2020, we have additional operating leases, primarily for office space, that have not yet commenced with total undiscounted lease payments of $37 million. These operating leases will commence in fiscal 2021, with lease terms ranging from one Related-Party Lease Transactions |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Jan. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Third-Party Hosted Infrastructure Platform-Related Commitments We have entered into non-cancelable agreements with third-party hosted infrastructure platform vendors with various expiration dates. In June 2019, we entered into a $500 million agreement for the use of cloud services that superseded a previous agreement and expires in June 2025. As of January 31, 2020, future non-cancelable minimum payments for third-party hosted infrastructure platforms are as follows (in thousands): Third-Party Hosted Infrastructure Platforms 2021 $ 40,375 2022 40,000 2023 40,000 2024 40,000 2025 40,000 Thereafter 272,084 Total $ 472,459 Legal Matters |
Stockholders' Equity
Stockholders' Equity | 12 Months Ended |
Jan. 31, 2020 | |
Share-based Payment Arrangement [Abstract] | |
Stockholders' Equity | Stockholders’ Equity Common Stock As of January 31, 2020, there were 170 million shares of Class A common stock and 62 million shares of Class B common stock outstanding. The rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting and conversion. Each share of Class A common stock is entitled to one vote per share and each share of Class B common stock is entitled to ten votes per share. Each share of Class B common stock can be converted into a share of Class A common stock at any time at the option of the holder. All of our Class A and Class B shares will convert to a single class of common stock upon the date that is the first to occur of (i) October 17, 2032, (ii) such time as the shares of Class B common stock represent less than 9% of the outstanding Class A common stock and Class B common stock, (iii) nine months following the death of both Mr. Duffield and Mr. Bhusri, and (iv) the date on which the holders of a majority of the shares of Class B common stock elect to convert all shares of Class A common stock and Class B common stock into a single class of common stock. Employee Equity Plans Our 2012 Equity Incentive Plan (“EIP”) serves as the successor to our 2005 Stock Plan (together with the EIP, the “Stock Plans”). Pursuant to the terms of the EIP, the share reserve increased by 11 million shares in March 2019. As of January 31, 2020, we had approximately 71 million shares of Class A common stock available for future grants. In connection with the acquisition of Adaptive Insights, we assumed unvested awards that had been granted under the Adaptive Insights, Inc. 2013 Equity Incentive Plan. We also have a 2012 Employee Stock Purchase Plan. Under the ESPP, eligible employees are granted options to purchase shares at the lower of 85% of the fair market value of the stock at the time of grant or 85% of the fair market value at the time of exercise. Options to purchase shares are granted twice yearly on or about June 1, and December 1, and exercisable on or about the succeeding November 30, and May 31, respectively, of each year. As of January 31, 2020, approximately 5 million shares of Class A common stock were available for issuance under the ESPP. Restricted Stock Units The Stock Plans provide for the issuance of RSUs to employees and non-employees. RSUs generally vest over four years. A summary of information related to RSU activity during fiscal 2020, is as follows: Number of Shares Weighted-Average Grant Date Fair Value Balance as of January 31, 2019 13,013,289 $ 108.12 RSUs granted 5,918,077 187.89 RSUs vested (6,074,429) 104.64 RSUs forfeited (942,873) 127.83 Balance as of January 31, 2020 11,914,064 147.96 The weighted-average grant date fair value of RSUs granted during fiscal 2020, 2019, and 2018 was $187.89, $129.62, and $88.90, respectively. The total fair value of RSUs vested as of the vesting dates during fiscal 2020, 2019, and 2018 was $1.2 billion, $801 million, and $528 million, respectively. As of January 31, 2020, there was a total of $1.6 billion in unrecognized compensation cost related to unvested RSUs, which is expected to be recognized over a weighted-average period of approximately three years. Performance-Based Restricted Stock Units During fiscal 2019, 0.5 million shares of performance-based restricted stock units were granted to all employees other than executive management that included both service conditions and performance conditions related to company-wide goals. These performance conditions were met and the PRSUs vested on March 15, 2019. During fiscal 2020, we recognized $15 million in compensation cost related to these PRSUs. Additionally, during fiscal 2020, 0.6 million shares of PRSUs were granted to all employees other than executive management that included both service conditions and performance conditions related to company-wide goals. These performance conditions were met and the PRSU awards will vest if the individual employee continues to provide service through the vesting date of March 15, 2020. During fiscal 2020, we recognized $97 million in compensation cost related to these PRSUs, and as of January 31, 2020, there was a total of $21 million in unrecognized compensation cost which is expected to be recognized over a weighted-average period of approximately two months. Stock Options The Stock Plans provide for the issuance of incentive and nonstatutory stock options to employees and non-employees. Stock options issued under the Stock Plans generally are exercisable for periods not to exceed ten years and generally vest over five years. A summary of information related to stock option activity during fiscal 2020, is as follows (in millions, except share and per share data): Outstanding Stock Options Weighted-Average Exercise Price Aggregate Intrinsic Value Balance as of January 31, 2019 5,780,742 $ 7.96 $ 1,003 Stock options exercised (2,298,649) 4.95 Stock options canceled (46,516) 22.34 Balance as of January 31, 2020 3,435,577 9.78 601 Vested and expected to vest as of January 31, 2020 3,413,967 9.62 597 Exercisable as of January 31, 2020 3,042,269 7.13 540 The total grant date fair value of stock options vested during fiscal 2020, 2019, and 2018 was $37 million, $29 million, and $5 million, respectively. The total intrinsic value of stock options exercised during fiscal 2020, 2019, and 2018 was $407 million, $261 million, and $234 million, respectively. The intrinsic value is the difference between the current fair value of the stock and the exercise price of the stock option. The weighted-average remaining contractual life of vested and expected to vest stock options as of January 31, 2020, is approximately three years. As of January 31, 2020, there was a total of $34 million in unrecognized compensation cost related to unvested assumed stock options, which is expected to be recognized over a weighted-average period of approximately two years. The stock options that are exercisable as of January 31, 2020, have a weighted-average remaining contractual life of approximately two years. The weighted-average remaining contractual life of outstanding stock options as of January 31, 2020, is approximately three years. No stock options were assumed during fiscal 2020. The weighted-average grant date fair value of stock options assumed during fiscal 2019, was $100.69. The fair value of stock options assumed was estimated using the following assumptions: Year Ended January 31, 2019 Expected volatility 31.5% - 34.3% Expected term (in years) 0.03 - 2.42 Risk-free interest rate 2.10% - 2.72% Dividend yield —% There were no stock options granted during fiscal 2020, 2019, and 2018. Employee Stock Purchase Plan For fiscal 2020, approximately 1 million shares of Class A common shares were purchased under the ESPP at a weighted-average price of $147.51 per share, resulting in cash proceeds of $114 million. The fair value of stock purchase rights granted under the ESPP was estimated using the following assumptions: Year Ended January 31, 2020 2019 2018 Expected volatility 36.9% - 41.7% 30.9% - 41.7% 25.3% - 32.0% Expected term (in years) 0.5 0.5 0.5 Risk-free interest rate 1.62% - 2.50% 2.09% - 2.50% 1.11% - 1.45% Dividend yield —% —% —% Grant date fair value per share $167.80 - $191.88 $126.29 - $167.80 $98.39 - $100.52 |
Unearned Revenue and Performanc
Unearned Revenue and Performance Obligations | 12 Months Ended |
Jan. 31, 2020 | |
Revenue from Contract with Customer [Abstract] | |
Unearned Revenue and Performance Obligations | Unearned Revenue and Performance Obligations $1.8 billion, $1.4 billion, and $1.0 billion of subscription services revenue was recognized during fiscal 2020, 2019, and 2018, respectively, that was included in the unearned revenue balances at the beginning of the respective periods. Professional services revenue recognized in the same periods from unearned revenue balances at the beginning of the respective periods was not material. Transaction Price Allocated to the Remaining Performance Obligations As of January 31, 2020, approximately $8.29 billion of revenue is expected to be recognized from remaining performance obligations for subscription contracts. We expect to recognize revenue on approximately $5.48 billion of these remaining performance obligations over the next 24 months, with the balance recognized thereafter. Revenue from remaining performance obligations for professional services contracts as of January 31, 2020, was not material. |
Other Income (Expense), Net
Other Income (Expense), Net | 12 Months Ended |
Jan. 31, 2020 | |
Other Income and Expenses [Abstract] | |
Other Income (Expense), Net | Other Income (Expense), Net Other income (expense), net consisted of the following (in thousands): Year Ended January 31, 2020 2019 2018 Interest income $ 41,268 $ 42,461 $ 25,252 Interest expense (1) (58,685) (60,209) (44,549) Other (2) 37,200 57,280 7,734 Other income (expense), net $ 19,783 $ 39,532 $ (11,563) (1) Interest expense includes the contractual interest expense of the Notes, and related non-cash interest expense attributable to amortization of the related debt discount and debt issuance costs, net of capitalized interest costs. For further information, see Note 11, Convertible Senior Notes, Net. (2) Other includes the net gains (losses) from our equity investments. For further information, see Note 3, Investments. |
Income Taxes
Income Taxes | 12 Months Ended |
Jan. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The components of loss before provision for (benefit from) income taxes were as follows (in thousands): Year Ended January 31, 2020 2019 2018 Domestic $ (256,772) $ (263,505) $ (85,167) Foreign (225,675) (160,247) (229,619) Total $ (482,447) $ (423,752) $ (314,786) The provision for (benefit from) income taxes consisted of the following (in thousands): Year Ended January 31, 2020 2019 2018 Current: Federal $ — $ — $ — State 438 270 177 Foreign 7,707 6,596 4,251 Total 8,145 6,866 4,428 Deferred: Federal (1,258) (760) (535) State (2,014) (2,446) (100) Foreign (6,646) (9,154) 2,643 Total (9,918) (12,360) 2,008 Provision for (benefit from) income taxes $ (1,773) $ (5,494) $ 6,436 The items accounting for the difference between income taxes computed at the federal statutory income tax rate and the provision for (benefit from) income taxes consisted of the following: Year Ended January 31, 2020 2019 2018 Federal statutory rate 21.0 % 21.0 % 33.8 % Effect of: Foreign income at other than U.S. rates (10.7) % (8.9) % (26.9) % Intercompany transactions 4.6 % 3.7 % 10.2 % Research tax credits 13.1 % 12.6 % 9.1 % State taxes, net of federal benefit (0.1) % (0.1) % — % U.S. corporate tax rate reduction — % — % (81.3) % Changes in valuation allowance (48.3) % (39.7) % 33.4 % Stock compensation 21.6 % 12.7 % 20.0 % Other (0.8) % — % (0.4) % 0.4 % 1.3 % (2.1) % In December 2017, the SEC staff issued Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act , which allowed companies to record provisional amounts for the Tax Act during a measurement period not to extend beyond one year from the enactment date. We completed our analysis in fiscal 2019, recording no adjustments. As a result of our history of net operating losses, the current provision for income taxes primarily relates to state income taxes and the current foreign provision from our profitable foreign entities. The benefit from domestic deferred federal and state income tax primarily relates to the release of the valuation allowance for certain intangibles from fiscal 2020, business acquisitions, where the balance for financial reporting exceeded the tax basis. The foreign deferred income tax benefit primarily relates to the application of intra-period tax allocation rules for the gains from other comprehensive income and the excess tax benefit in certain foreign jurisdictions from share-based compensation. Significant components of our deferred tax assets and liabilities were as follows (in thousands): January 31, 2020 2019 Deferred tax assets: Unearned revenue $ 20,613 $ 22,494 Other reserves and accruals 20,691 24,365 Federal net operating loss carryforwards 746,020 602,310 State net operating loss and foreign tax attributes carryforwards 371,233 232,815 Property and equipment 11,235 6,939 Share-based compensation 72,055 53,295 Research and development credits 243,617 183,323 Intangibles 488,626 516,416 Operating lease liabilities 73,563 — Other 12,360 3,268 2,060,013 1,645,225 Valuation allowance (1,903,837) (1,563,825) Deferred tax assets, net of valuation allowance 156,176 81,400 Deferred tax liabilities: Intercompany transactions (19,609) (30,900) Other prepaid assets (1,364) (466) Deferred commissions (61,459) (47,165) Operating lease right-of-use assets (67,775) — (150,207) (78,531) Net deferred tax assets $ 5,969 $ 2,869 We regularly assess the need for a valuation allowance against our deferred tax assets by considering both positive and negative evidence related to whether it is more likely than not that our deferred tax assets will be realized. In evaluating the need for a valuation allowance, we consider the cumulative losses in recent years as a significant piece of negative evidence that is generally difficult to overcome. As of January 31, 2020, we continue to maintain a full valuation allowance against our U.S. federal, state, and certain foreign jurisdiction deferred tax assets. As of January 31, 2020, we recorded a valuation allowance of $1.9 billion for the portion of the deferred tax assets that we do not expect to be realized. The valuation allowance on our net deferred tax assets increased by $340 million and $939 million during fiscal 2020 and 2019, respectively. The increase in the valuation allowance during fiscal 2020, is mainly due to an increase in deferred tax assets on our net operating losses and research and development credits during the fiscal year. As of January 31, 2020, we had approximately $3.4 billion of federal, $2.3 billion of state, and $1.5 billion of foreign net operating loss and other tax attributes carryforwards available to offset future taxable income. If not utilized, the pre-fiscal 2018 federal and the state net operating loss carryforwards expire in varying amounts between fiscal 2021, and 2040. The federal net operating losses generated in and after fiscal 2018 and the foreign net operating losses and other tax attributes do not expire and may be carried forward indefinitely. We also had approximately $163 million of federal and $160 million of California research and development tax credit carryforwards as of January 31, 2020. The federal credits expire in varying amounts between fiscal 2021, and 2040. The California research credits do not expire and may be carried forward indefinitely. Our ability to utilize the net operating loss and tax credit carryforwards in the future may be subject to substantial restrictions in the event of past or future ownership changes as defined in Section 382 of the Internal Revenue Code of 1986, as amended, and similar state tax law. We intend to permanently reinvest any future earnings in our foreign operations unless such earnings are subject to U.S. federal income taxes. As of January 31, 2020, we estimate any such hypothetical foreign withholding tax expense to be immaterial to our financial statements. A reconciliation of the gross unrecognized tax benefit is as follows (in thousands): Year Ended January 31, 2020 2019 2018 Unrecognized tax benefits at the beginning of the period $ 130,771 $ 107,849 $ 116,801 Additions for tax positions taken in prior years 309 10,586 1,500 Reductions for tax positions taken in prior years — — (8,121) Decrease for tax positions taken in prior years due to federal rate reduction — — (10,062) Additions for tax positions related to the current year 13,109 12,336 7,731 Reductions related to a lapse of applicable statute of limitations (568) — — Unrecognized tax benefits at the end of the period $ 143,621 $ 130,771 $ 107,849 Our policy is to include interest and penalties related to unrecognized tax benefits within our provision for income taxes. We did not accrue any interest expense or penalties during fiscal 2020, 2019, or 2018. Of the total amount of unrecognized tax benefits of $144 million, $1 million, if recognized, would impact the effective tax rate, as of January 31, 2020. We file federal, state, and foreign income tax returns in jurisdictions with varying statutes of limitations. Due to our net operating loss carryforwards, our income tax returns generally remain subject to examination by federal and most state and foreign tax authorities. On December 1, 2015, the United States Tax Court (“Tax Court”) issued its final decision with respect to Altera Corporation’s litigation with the Internal Revenue Service (“IRS”). The litigation related to the treatment of share-based compensation expense in an inter-company cost-sharing arrangement with the taxpayer’s foreign subsidiary for fiscal 2004 through 2007. In its final decision, the Tax Court accepted Altera’s position of excluding share-based compensation in its cost sharing arrangement and concluded that the related IRS Regulations were invalid. Subsequent to the decision, the IRS filed an appeal on February 23, 2016. On June 7, 2019, the U.S. Tax Court of Appeals of the Ninth Circuit (“Ninth Circuit”) reversed the United States Tax Court decision and on November 11, 2019, the Ninth Circuit released a court order denying an en banc rehearing of the case following Altera’s petition filed on July 22, 2019. Altera submitted a petition for writ of certiorari to the U.S. Supreme Court on February 10, 2020. Based on the facts and circumstances of the Tax Court Case, we believe that it is more likely than not that the decision will be upheld. We have therefore recorded the effects of the decision and determined that there was no material impact to our effective tax rate and income tax expense due to our current full valuation allowance position. We will continue to monitor ongoing developments and potential impacts to our consolidated financial statements. |
Net Loss Per Share
Net Loss Per Share | 12 Months Ended |
Jan. 31, 2020 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share | Net Loss Per Share Basic net loss per share attributable to common stockholders is computed by dividing the net loss attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by giving effect to all potential shares of common stock, including our outstanding stock options, outstanding warrants, common stock related to unvested early exercised stock options, common stock related to unvested RSUs and PRSUs, common stock related to convertible senior notes to the extent dilutive, and common stock issuable pursuant to the ESPP. Basic and diluted net loss per share was the same for each period presented, as the inclusion of all potential common shares outstanding would have been anti-dilutive. The net loss per share attributable to common stockholders is allocated based on the contractual participation rights of the Class A common shares and Class B common shares as if the loss for the year had been distributed. As the liquidation and dividend rights are identical, the net loss attributable to common stockholders is allocated on a proportionate basis. The following table presents the calculation of basic and diluted net loss attributable to common stockholders per share (in thousands, except per share data): Year Ended January 31, 2020 2019 2018 Class A Class B Class A Class B Class A Class B Basic and diluted net loss attributable to Class A and Class B common stockholders per share: Numerator: Allocation of distributed net loss attributable to common stockholders $ (345,958) $ (134,716) $ (287,021) $ (131,237) $ (208,159) $ (113,063) Denominator: Weighted-average common shares outstanding 163,513 63,672 148,767 68,022 134,642 73,132 Basic and diluted net loss per share $ (2.12) $ (2.12) $ (1.93) $ (1.93) $ (1.55) $ (1.55) The anti-dilutive securities excluded from the weighted-average shares used to calculate the diluted net loss per common share were as follows (in thousands): January 31, 2020 2019 2018 Outstanding common stock options 3,436 5,781 6,595 Unvested restricted stock awards, units, and PRSUs 12,530 13,551 13,209 Shares related to the convertible senior notes 10,876 10,876 15,079 Shares subject to warrants related to the issuance of convertible senior notes 10,876 10,876 15,079 Shares issuable pursuant to the ESPP 491 402 466 Total 38,209 41,486 50,428 |
Geographic Information
Geographic Information | 12 Months Ended |
Jan. 31, 2020 | |
Segment Reporting [Abstract] | |
Geographic Information | Geographic Information Disaggregation of Revenue We sell our subscription contracts and related services in two primary geographical markets: to customers located in the United States and to customers located outside of the United States. Revenue by geography is generally based on the address of the customer as specified in our master subscription agreement. The following table sets forth revenue by geographic area (in thousands): Year Ended January 31, 2020 2019 2018 United States $ 2,741,427 $ 2,173,346 $ 1,694,347 Other countries 885,779 648,834 448,703 Total $ 3,627,206 $ 2,822,180 $ 2,143,050 Long-Lived Assets We attribute our long-lived assets, which primarily consist of property and equipment and operating lease right-of-use assets, to a country based on the physical location of the assets. Aggregate property and equipment, net and operating lease right-of-use assets by geographic area is as follows (in thousands): January 31, 2020 2019 United States $ 1,064,292 $ 726,801 Ireland 122,619 55,306 Other countries 40,170 14,800 Total $ 1,227,081 $ 796,907 |
401(k) Plan
401(k) Plan | 12 Months Ended |
Jan. 31, 2020 | |
Retirement Benefits [Abstract] | |
401(k) Plan | 401(k) PlanWe have a qualified defined contribution plan under Section 401(k) of the Internal Revenue Code covering eligible employees. We match a certain portion of employee contributions up to a fixed maximum per employee. Our contributions to the plan were $36 million, $28 million, and $15 million in fiscal 2020, 2019, and 2018, respectively. |
Selected Quarterly Financial Da
Selected Quarterly Financial Data (unaudited) | 12 Months Ended |
Jan. 31, 2020 | |
Quarterly Financial Information Disclosure [Abstract] | |
Selected Quarterly Financial Data (unaudited) | Selected Quarterly Financial Data (unaudited) The following tables set forth selected unaudited quarterly consolidated statements of operations data for each of the eight quarters in fiscal 2020 and 2019 (in thousands, except per share data): Quarter ended 1/31/2020 10/31/2019 7/31/2019 4/30/2019 1/31/2019 10/31/2018 7/31/2018 4/30/2018 Consolidated Statements of Operations Data: Total revenues $ 976,299 $ 938,100 $ 887,752 $ 825,055 $ 788,628 $ 743,189 $ 671,720 $ 618,643 Operating loss (146,097) (110,250) (122,497) (123,386) (120,283) (182,755) (88,982) (71,264) Net loss (127,958) (115,729) (120,712) (116,275) (104,361) (153,331) (86,156) (74,410) Net loss per share, basic and diluted (0.56) (0.51) (0.53) (0.52) (0.47) (0.70) (0.40) (0.35) |
Accounting Standards and Sign_2
Accounting Standards and Significant Accounting Policies (Policies) | 12 Months Ended |
Jan. 31, 2020 | |
Accounting Policies [Abstract] | |
Fiscal Year | Fiscal Year Our fiscal year ends on January 31. References to fiscal 2020, for example, refer to the fiscal year ended January 31, 2020. |
Basis of Presentation | Basis of Presentation These consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”) and include the results of Workday, Inc. and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated. Certain prior period amounts reported in our consolidated financial statements and notes thereto have been reclassified to conform to current period presentation. |
Use of Estimates | Use of EstimatesThe preparation of consolidated financial statements in conformity with GAAP requires us to make certain estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated financial statements, as well as the reported amounts of revenues and expenses during the reporting period. These estimates and judgments include, but are not limited to the fair value of assets acquired and liabilities assumed through business combinations, the determination of the period of benefit for deferred commissions, certain assumptions used in the valuation of equity awards, and assumptions used in the valuation of non-marketable equity investments. Actual results could differ from those estimates and such differences could be material to our consolidated financial position and results of operations. |
Segment Information | Segment Information We operate in one operating segment, cloud applications. Operating segments are defined as components of an enterprise where separate financial information is evaluated regularly by the chief operating decision maker, who is our chief executive officer, in deciding how to allocate resources and assessing performance. Our chief operating decision maker allocates resources and assesses performance based upon discrete financial information at the consolidated level. |
Revenue Recognition and Unearned Revenue | Revenue Recognition We derive our revenues primarily from subscription services and professional services. Revenues are recognized when control of these services is transferred to our customers, in an amount that reflects the consideration we expect to be entitled to receive in exchange for these services. We determine revenue recognition through the following steps: • Identification of the contract, or contracts, with a customer • Identification of the performance obligations in the contract • Determination of the transaction price • Allocation of the transaction price to the performance obligations in the contract • Recognition of revenue when, or as, we satisfy a performance obligation Subscription Services Revenues Subscription services revenues primarily consist of fees that provide customers access to one or more of our cloud applications for finance, human resources, planning, and analytics, with routine customer support. Revenue is generally recognized on a ratable basis over the contract term beginning on the date that our service is made available to the customer. Our subscription contracts are generally three years or longer in length, billed annually in advance, and are non-cancelable. Professional Services Revenues Professional services revenues primarily consist of consulting fees for deployment and optimization services, as well as training. Our consulting contracts are billed on a time and materials basis or a fixed price basis. For contracts billed on a time and materials basis, revenue is recognized over time as the professional services are performed. For contracts billed on a fixed price basis, revenue is recognized over time based on the proportion of the professional services performed. Contracts with Multiple Performance Obligations Some of our contracts with customers contain multiple performance obligations. For these contracts, we account for individual performance obligations separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. We determine the standalone selling prices based on our overall pricing objectives, taking into consideration market conditions and other factors, including the value of our contracts, the cloud applications sold, customer demographics, geographic locations, and the number and types of users within our contracts. Unearned Revenue Unearned revenue primarily consists of customer billings in advance of revenues being recognized from our subscription contracts. We generally invoice our customers annually in advance for our subscription services. Our typical payment terms provide that customers pay a portion of the total arrangement fee within 30 days of the contract date. Unearned revenue that is anticipated to be recognized during the succeeding twelve |
Fair Value Measurement | Fair Value Measurement We measure our cash equivalents, marketable securities, and foreign currency derivative contracts at fair value at each reporting period using a fair value hierarchy that requires that we maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. A financial instrument’s classification within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Three levels of inputs may be used to measure fair value: Level 1 — Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 — Other inputs that are directly or indirectly observable in the marketplace. Level 3 — Unobservable inputs that are supported by little or no market activity. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents consist of highly liquid investments with maturities of three months or less at the time of purchase. Our cash equivalents primarily consist of investments in U.S. treasury securities, U.S. agency obligations, corporate bonds, commercial paper, and money market funds. |
Debt Securities and Equity Investments | Debt Securities Our debt securities primarily consist of investments in U.S. treasury securities, U.S. agency obligations, corporate bonds, and commercial paper. We classify our debt securities as available-for-sale at the time of purchase and reevaluate such classification as of each balance sheet date. We consider all debt securities as available for use in current operations, including those with maturity dates beyond one year, and therefore classify these securities as current assets in the accompanying consolidated balance sheets. All debt securities are recorded at their estimated fair value. Unrealized gains and losses on available-for-sale debt securities are recorded in Accumulated other comprehensive income (loss) (“AOCI”). We evaluate our investments to assess whether those in unrealized loss positions are other-than-temporarily impaired. We consider impairments to be other-than-temporary if they are related to deterioration in credit risk or if it is likely we will sell the securities before the recovery of their cost basis. Realized gains and losses and declines in value judged to be other-than-temporary are determined based on the specific identification method and are reported in Other income (expense), net on the consolidated statements of operations. If quoted prices for identical instruments are available in an active market, debt securities are classified within Level 1 of the fair value hierarchy. If quoted prices for identical instruments in active markets are not available, fair values are estimated using quoted prices of similar instruments and are classified within Level 2 of the fair value hierarchy. To date, all of our debt securities can be valued using one of these two methodologies. Equity Investments We hold marketable and non-marketable equity investments, over which we do not have a controlling interest or significant influence. Marketable equity investments are measured using quoted prices in active markets with changes recorded in Other income (expense), net on the consolidated statements of operations. Non-marketable equity investments have no readily determinable fair values and are measured using the measurement alternative, which is defined as cost, less impairment, adjusted for observable price changes from orderly transactions for identical or similar investments of the same issuer. Adjustments are recorded in Other income (expense), net on the consolidated statements of operations. Non-marketable equity investments are valued using significant unobservable inputs or data in an inactive market and the valuation requires our judgment due to the absence of market prices and inherent lack of liquidity. The carrying value for these investments is not adjusted if there are no observable transactions for identical or similar investments of the same issuer or if there are no identified events or changes in circumstances that may indicate impairment. Valuations of non-marketable equity investments are inherently complex due to the lack of readily available market data. In addition, the determination of whether an orderly transaction is for an identical or similar investment requires significant management judgment, including understanding the differences in the rights and obligations of the investments and the extent to which those differences would affect the fair values of those investments. |
Trade and Other Receivables | Trade and Other ReceivablesTrade and other receivables are primarily comprised of trade receivables that are recorded at the invoice amount, net of an allowance for doubtful accounts, which is not material. Other receivables represent unbilled receivables related to subscription and professional services contracts. |
Deferred Commissions | Deferred CommissionsSales commissions earned by our sales force are considered incremental and recoverable costs of obtaining a contract with a customer. Sales commissions for initial contracts are deferred and then amortized on a straight-line basis over a period of benefit that we have determined to be five years. We determined the period of benefit by taking into consideration our customer contracts, our technology, and other factors. Sales commissions for renewal contracts are deferred and then amortized on a straight-line basis over the related contractual renewal period. Amortization expense is included in Sales and marketing expenses on the consolidated statements of operations. |
Derivatives Financial Instruments and Hedging Activities | Derivative Financial Instruments and Hedging Activities We use derivative financial instruments to manage foreign currency risks. Derivative instruments are carried at fair value and recorded as either an asset or liability on the consolidated balance sheets. Gains and losses resulting from changes in fair value are accounted for depending on the use of the derivative and whether it is designated and qualifies for hedge accounting. For derivative instruments designated as cash flow hedges, which we use to hedge certain customer contracts denominated in foreign currencies, the gains or losses are recorded in AOCI and subsequently reclassified to income in the same period that the underlying revenues are earned. For derivative instruments not designated as hedging instruments, which we use to hedge a portion of our net outstanding monetary assets and liabilities, the gains or losses are recorded in Other income (expense), net on the consolidated statement of operations in the period of change. We use nonderivative financial instruments designated as net investment hedges to hedge our net investment in certain foreign subsidiaries. The gains or losses, which are not material, are recorded in the currency translation adjustment component of AOCI, and are reclassified to income in the period in which the hedged subsidiary is either sold or substantially liquidated. Our foreign currency contracts are classified within Level 2 of the fair value hierarchy because the valuation inputs are based on quoted prices and market observable data of similar instruments in active markets, such as currency spot and forward rates. |
Property and Equipment | Property and Equipment Property and equipment are stated at cost less accumulated depreciation. Depreciation is recorded using the straight-line method over the estimated useful lives of the respective assets. Leasehold improvements are depreciated over the shorter of the related lease term or ten years. Property and equipment is reviewed for impairment whenever events or changes in circumstances indicate the carrying amount of an asset may not be recoverable. |
Business Combinations | Business Combinations We use our best estimates and assumptions to assign fair value to the tangible and intangible assets acquired and liabilities assumed as of the acquisition date. Our estimates are inherently uncertain and subject to refinement. During the measurement period, which may be up to one year from the acquisition date, we may record adjustments to the fair value of these tangible and intangible assets acquired and liabilities assumed, with the corresponding offset to goodwill. In addition, uncertain tax positions and tax-related valuation allowances are initially established in connection with a business combination as of the acquisition date. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are recorded to our consolidated statements of operations. |
Goodwill and Acquisition-Related Intangible Assets | Goodwill and Acquisition-Related Intangible AssetsAcquisition-related intangible assets with finite lives are amortized over their estimated useful lives. Goodwill amounts are not amortized. Acquisition-related intangible assets and goodwill are tested for impairment at least annually, and more frequently upon the occurrence of certain events. |
Convertible Senior Notes | Convertible Senior Notes In June 2013, we issued 0.75% convertible senior notes due July 15, 2018, (“2018 Notes”) with a principal amount of $350 million, which were subsequently converted by note holders during the second quarter of fiscal 2019. Concurrently in June 2013, we issued 1.50% convertible senior notes due July 15, 2020 (“2020 Notes”) with a principal amount of $250 million. In September 2017, we issued 0.25% convertible senior notes due October 1, 2022, (“2022 Notes”) with a principal amount of $1.15 billion (together with the 2018 Notes and 2020 Notes, referred to as the “Notes”). In accounting for the issuance of the Notes, we separated each of the Notes into liability and equity components. The carrying amounts of the liability components were calculated by measuring the fair value of similar liabilities that do not have associated convertible features. The carrying amount of the equity components representing the conversion option were determined by deducting the fair value of the liability components from the par value of the respective Notes. These differences represent debt discounts that are amortized to interest expense over the respective terms of the Notes using the effective interest rate method. The equity components are not remeasured as long as they continue to meet the conditions for equity classification. In accounting for the issuance costs related to the Notes, we allocated the total amount of issuance costs incurred to the liability and equity components based on their relative values. Issuance costs attributable to the liability components are being amortized on a straight-line basis, which approximates the effective interest rate method, to interest expense over the respective terms of the Notes. The issuance costs attributable to the equity components were netted against the respective equity components in Additional paid-in capital. |
Leases | Leases We have entered into operating lease agreements for our office space, data centers, and other property and equipment. Operating lease right-of-use assets and operating lease liabilities are recognized at the lease commencement date based on the present value of the lease payments over the lease term. Right-of-use assets also include adjustments related to prepaid or deferred lease payments and lease incentives. As most of our leases do not provide an implicit interest rate, we use our incremental borrowing rate as of the first day of each fiscal quarter for the leases commenced in the respective quarter to determine the present value of lease payments. We recognize variable lease costs in our consolidated statement of operations in the period incurred. Variable lease costs include common area maintenance, utilities, real estate taxes, insurance, and other operating costs that are passed on from the lessor. Options to extend or terminate a lease are included in the lease term when it is reasonably certain that we will exercise such options. The remaining lease term of our leases generally ranges from less than one year to ten years. |
Advertising Expenses | Advertising ExpensesAdvertising is expensed as incurred. |
Share-Based Compensation | Share-Based Compensation We measure and recognize compensation expense for share-based awards issued to employees and non-employees, including restricted stock units (“RSUs”), performance-based restricted stock units (“PRSUs”), stock options, and purchases under the 2012 Employee Stock Purchase Plan (“ESPP”), on our consolidated statements of operations. For RSUs and PRSUs, fair value is based on the closing price of our common stock on the grant date. Compensation expense, net of estimated forfeitures, is recognized on a straight-line basis over the requisite service period. The requisite service period of the awards is generally the same as the vesting period. For stock options assumed, fair value is estimated using the Black-Scholes option-pricing model. Compensation expense, net of estimated forfeitures, is recognized on a straight-line basis over the requisite service period. We determine the assumptions for the option-pricing model as follows: • Risk-Free Interest Rate. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the date closest to the grant date for zero-coupon U.S. Treasury notes with maturities approximately equal to the expected term of the stock option grants. • Expected Term. The expected term represents the period that our share-based award is expected to be outstanding. The expected term for stock options was determined based on the vesting terms, exercise terms, and contractual lives. • Volatility. The volatility is based on a blend of historical volatility and implied volatility of our common stock. Implied volatility is based on market traded options of our common stock. • Dividend Yield. The dividend yield is assumed to be zero as we have not paid and do not expect to pay dividends. For shares issued under the ESPP, fair value is estimated using the Black-Scholes option-pricing model. Compensation expense is recognized on a straight-line basis over the offering period. We determine the assumptions for the option-pricing model as follows: • Risk-Free Interest Rate. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the date closest to the grant date for zero-coupon U.S. Treasury notes with maturities approximately equal to the expected term of the ESPP purchase rights. • Expected Term. The expected term represents the period that our ESPP is expected to be outstanding. The expected term for the ESPP approximates the offering period. • Volatility. The volatility is based on a blend of historical volatility and implied volatility of our common stock. Implied volatility is based on market traded options of our common stock. • Dividend Yield. The dividend yield is assumed to be zero as we have not paid and do not expect to pay dividends. |
Income Taxes | Income Taxes We record a provision for income taxes for the anticipated tax consequences of the reported results of operations using the asset and liability method. Under this method, we recognize deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the financial reporting and tax basis of assets and liabilities, as well as for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using the tax rates that are expected to apply to taxable income for the years in which those tax assets and liabilities are expected to be realized or settled. We record a valuation allowance to reduce our deferred tax assets to the net amount that we believe is more likely than not to be realized. |
Warranties and Indemnification | Warranties and Indemnification Our cloud applications are generally warranted to perform materially in accordance with our online documentation under normal use and circumstances. Additionally, our contracts generally include provisions for indemnifying customers against liabilities if use of our cloud applications infringe a third party’s intellectual property rights. We may also incur liabilities if we breach the security, privacy and/or confidentiality obligations in our contracts. To date, we have not incurred any material costs, and we have not accrued any liabilities in the accompanying consolidated financial statements, as a result of these obligations. In our standard agreements with customers, we commit to defined levels of service availability and performance and, under certain circumstances, permit customers to receive credits in the event that we fail to meet those levels. In the event our failure to meet those levels triggers a termination right for a customer, we permit a terminating customer to receive a refund of prepaid amounts related to unused subscription services. To date, we have not experienced any significant failures to meet defined levels of availability and performance of those obligations and, as a result, we have not accrued any liabilities related to these agreements on the consolidated financial statements. |
Foreign Currency Exchange | Foreign Currency ExchangeThe functional currency for certain of our foreign subsidiaries is the U.S. dollar, while others use local currencies. We translate the foreign functional currency financial statements to U.S. dollars for those entities that do not have U.S. dollars as their functional currency using the exchange rates at the balance sheet date for assets and liabilities, the period average exchange rates for revenues and expenses, and the historical exchange rates for equity transactions. The effects of foreign currency translation adjustments are recorded in other comprehensive income (“OCI”) as a component of stockholders’ equity and related periodic movements are summarized as a line item in our consolidated statements of comprehensive loss. Foreign currency transaction gains and losses are included in Other income (expense), net on the consolidated statements of operations. |
Concentrations of Risk and Significant Customers | Concentrations of Risk and Significant Customers Our financial instruments that are exposed to concentrations of credit risk consist primarily of cash and cash equivalents, debt securities, and trade and other receivables. Our deposits exceed federally insured limits. No customer individually accounted for more than 10% of trade and other receivables, net as of January 31, 2020, or 2019. No customer individually accounted for more than 10% of total revenues for any of the periods on the consolidated financial statements. In order to reduce the risk of down-time of our cloud applications, we have established data centers in various geographic regions. We have internal procedures to restore services in the event of disaster at one of our current data center facilities. We serve our customers and users from data center facilities operated by third parties, located in the United States, Europe, and Canada. Even with these procedures for disaster recovery in place, our cloud applications could be significantly interrupted during the implementation of the procedures to restore services. In addition, we rely upon third-party hosted infrastructure partners globally, including Amazon Web Services and Dimension Data, to serve customers and operate certain aspects of our services, such as environments for development testing, training, sales demonstrations, and production usage. Given this, any disruption of or interference at our hosted infrastructure partners would impact our operations and our business could be adversely impacted. |
Recently Adopted Accounting Pronouncements and Recently Issued Accounting Pronouncements | Recently Adopted Accounting Pronouncements ASU No. 2016-02 In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842) , which requires the recognition of right-of-use assets and lease liabilities on the balance sheet for those leases currently classified as operating leases under Accounting Standards Codification Topic 840 Leases . Accounting for finance leases remains substantially unchanged. We adopted this standard effective February 1, 2019, using a modified retrospective method, under which financial results reported in periods prior to February 1, 2019, were not adjusted. We elected the package of transition practical expedients, which among other things, does not require reassessment of lease classifications. Additionally, we elected to combine lease and non-lease components for each of our existing underlying asset classes and to not include leases with a term of 12 months or less on our consolidated balance sheets. The most significant impact of adopting this standard was the recognition of $279 million of operating lease right-of-use assets and $307 million of operating lease liabilities on our consolidated balance sheet as of February 1, 2019. Additionally, we reclassified $28 million in previously recognized deferred rent obligations and lease incentives to operating lease right-of-use assets. This adoption did not result in any cumulative-effect adjustments to Accumulated deficit, and there was no material impact on our consolidated statement of operations. For further information, see Note 12, Leases. ASU No. 2017-12 In August 2017, the FASB issued ASU No. 2017-12, Derivatives and Hedging (Topic 815) , to better align an entity’s risk management activities and financial reporting for hedging relationships through changes to both the designation and measurement guidance for qualifying hedging relationships and the presentation of hedge results. We adopted this new standard effective February 1, 2019. As a result of adopting the standard, the entire change in the fair value of our foreign currency forward contracts designated as cash flow hedges will be presented in the same income statement line item as the respective hedged items. This adoption did not result in any cumulative-effect adjustments to Accumulated deficit, and the amended presentation guidance was applied prospectively. For further information, see Note 10, Derivative Instruments. ASU No. 2018-02 In February 2018, the FASB issued ASU No. 2018-02, Income Statement - Reporting Comprehensive Income (Topic 220): Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income , which provides entities the option to reclassify tax effects stranded in accumulated other comprehensive income as a result of the 2017 Tax Cuts and Jobs Act to retained earnings. We adopted this new standard effective February 1, 2019. The adoption of this new standard did not have a material impact on our consolidated financial statements. ASU No. 2018-07 In June 2018, the FASB issued ASU No. 2018-07, Compensation - Stock Compensation (Topic 718): Improvements to Non-employee Share-Based Payment Accounting , which expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from non-employees, with certain exceptions. We adopted this standard effective February 1, 2019, and remeasured all outstanding equity-classified non-employee share-based payment awards at fair value as of the adoption date, which resulted in a $0.4 million cumulative-effect adjustment to Accumulated deficit. Recently Issued Accounting Pronouncements ASU No. 2016-13 In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost, including trade receivables. ASU No. 2016-13 replaces the existing incurred loss impairment model with an expected loss model that requires the use of forward-looking information to calculate credit loss estimates. It also eliminates the concept of other-than-temporary impairment and requires credit losses related to available-for-sale debt securities to be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. These changes may result in more timely recognition of credit losses. We plan to adopt this new standard in the first quarter of our fiscal 2021. The impact on our consolidated financial statements from the adoption of this standard is expected to be immaterial. ASU No. 2018-15 In August 2018, the FASB issued ASU No. 2018-15, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract , which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The new standard requires capitalized costs to be amortized on a straight-line basis generally over the term of the arrangement, and the financial statement presentation for these capitalized costs would be the same as that of the fees related to the hosting arrangements. We plan to adopt this standard in the first quarter of our fiscal 2021, on a prospective basis. The impact of our adoption of this standard on our consolidated financial statements will largely depend on the magnitude of implementation costs incurred in our cloud computing arrangements beginning February 1, 2020. Implementation costs capitalized subsequent to adoption will be recognized in operating expenses in our consolidated financial statements over the related contract life. ASU No. 2019-12 In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which simplifies accounting guidance for certain tax matters including franchise taxes, certain transactions that result in a step-up in tax basis of goodwill, and enacted changes in tax laws in interim periods. In addition, it eliminates a company’s need to evaluate certain exceptions relating to the incremental approach for intra-period tax allocation, accounting for basis differences when there are ownership changes in foreign investments, and interim period income tax accounting for year-to-date losses that exceed anticipated losses. The standard is applicable to our consolidated financial statements in interim and annual periods beginning February 1, 2021. Early adoption is permitted. We plan to adopt this guidance in the first quarter of our fiscal 2021. We are currently evaluating the accounting, transition, and disclosure requirements of this standard. |
Investments (Tables)
Investments (Tables) | 12 Months Ended |
Jan. 31, 2020 | |
Investments, Debt and Equity Securities [Abstract] | |
Summary of Debt Securities | As of January 31, 2020, debt securities consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value U.S. treasury securities $ 312,183 $ 492 $ (5) $ 312,670 U.S. agency obligations 169,613 99 (44) 169,668 Corporate bonds 504,434 2,476 — 506,910 Commercial paper 364,701 — — 364,701 $ 1,350,931 $ 3,067 $ (49) $ 1,353,949 Included in cash and cash equivalents $ 140,517 $ — $ — $ 140,517 Included in marketable securities $ 1,210,414 $ 3,067 $ (49) $ 1,213,432 As of January 31, 2019, debt securities consisted of the following (in thousands): Amortized Cost Unrealized Gains Unrealized Losses Aggregate Fair Value U.S. treasury securities $ 396,347 $ 61 $ (178) $ 396,230 U.S. agency obligations 241,914 73 (151) 241,836 Corporate bonds 419,784 336 (352) 419,768 Commercial paper 254,175 — (2) 254,173 $ 1,312,220 $ 470 $ (683) $ 1,312,007 Included in cash and cash equivalents $ 216,270 $ — $ — $ 216,270 Included in marketable securities $ 1,095,950 $ 470 $ (683) $ 1,095,737 |
Equity Investments | Equity investments consisted of the following (in thousands): January 31, Consolidated Balance Sheets Location 2020 2019 Money market funds (1) Cash and cash equivalents $ 386,909 $ 237,071 Marketable equity investments (1) Marketable securities — 44,127 Non-marketable equity investments (2) Other assets 59,026 36,925 $ 445,935 $ 318,123 (1) Investments with readily determinable fair values. (2) Investments in privately held companies without readily determinable fair values. |
Gain (Loss) on Securities | Total realized and unrealized gains and losses associated with our equity investments consisted of the following (in thousands): Year Ended January 31, 2020 2019 2018 Net realized gains (losses) recognized on equity investments sold $ 26,837 $ 8,333 $ 720 Net unrealized gains (losses) recognized on equity investments held 6,057 32,127 (692) Total net gains (losses) recognized in other income (expense), net $ 32,894 $ 40,460 $ 28 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 12 Months Ended |
Jan. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Information about Assets and Liabilities that are Measured at Fair Value on a Recurring Basis | The following table presents information about our assets and liabilities that are measured at fair value on a recurring basis and their assigned levels within the valuation hierarchy as of January 31, 2020 (in thousands): Level 1 Level 2 Level 3 Total U.S. treasury securities $ 312,670 $ — $ — $ 312,670 U.S. agency obligations — 169,668 — 169,668 Corporate bonds — 506,910 — 506,910 Commercial paper — 364,701 — 364,701 Money market funds 386,909 — — 386,909 Foreign currency derivative assets — 33,274 — 33,274 Total assets $ 699,579 $ 1,074,553 $ — $ 1,774,132 Foreign currency derivative liabilities $ — $ 3,996 $ — $ 3,996 Total liabilities $ — $ 3,996 $ — $ 3,996 The following table presents information about our assets and liabilities that are measured at fair value on a recurring basis and their assigned levels within the valuation hierarchy as of January 31, 2019 (in thousands): Level 1 Level 2 Level 3 Total U.S. treasury securities $ 396,230 $ — $ — $ 396,230 U.S. agency obligations — 241,836 — 241,836 Corporate bonds — 419,768 — 419,768 Commercial paper — 254,173 — 254,173 Money market funds 237,071 — — 237,071 Marketable equity investments 44,127 — — 44,127 Foreign currency derivative assets — 22,570 — 22,570 Total assets $ 677,428 $ 938,347 $ — $ 1,615,775 Foreign currency derivative liabilities $ — $ 3,135 $ — $ 3,135 Total liabilities $ — $ 3,135 $ — $ 3,135 |
Summary of Carrying Amounts and Estimated Fair Values of Financial Instruments | The following table presents the carrying amounts and estimated fair values of our financial instruments that are not recorded at fair value on the consolidated balance sheets (in thousands): January 31, 2020 January 31, 2019 Net Carrying Amount Estimated Fair Value Net Carrying Amount Estimated Fair Value 1.50% Convertible senior notes $ 244,319 $ 571,057 $ 232,514 $ 557,074 0.25% Convertible senior notes 1,017,967 1,587,978 972,264 1,560,228 |
Property and Equipment, Net (Ta
Property and Equipment, Net (Tables) | 12 Months Ended |
Jan. 31, 2020 | |
Property, Plant and Equipment [Abstract] | |
Summary of Property and Equipment | Property and equipment, net consisted of the following (in thousands): January 31, 2020 2019 Land and land improvements $ 38,737 $ 22,694 Buildings 489,028 433,863 Computers, equipment, and software 723,482 539,090 Furniture and fixtures 51,917 38,840 Leasehold improvements 189,668 162,657 Property and equipment, gross (1) 1,492,832 1,197,144 Less accumulated depreciation and amortization (556,653) (400,237) Property and equipment, net $ 936,179 $ 796,907 (1) Property and equipment, gross included construction-in-progress for owned real estate projects of $3 million, and $355 million that had not yet been placed in service as of January 31, 2020, and 2019, respectively. The decrease in construction-in-progress for owned real estate projects was due to the completion of our development center in the second quarter of fiscal 2020. |
Business Combinations (Tables)
Business Combinations (Tables) | 12 Months Ended |
Jan. 31, 2020 | |
Business Combinations [Abstract] | |
Summary of Estimated Fair Values of Assets Acquired and Liabilities Assumed | The preliminary purchase consideration allocation was as follows (in thousands): Acquisition-related intangible assets $ 63,400 Other assets acquired 37,087 Liabilities assumed (16,907) Total purchase consideration, inclusive of previously held equity interest 513,492 Estimated goodwill $ 429,912 The purchase consideration allocation, which includes measurement period adjustments, was as follows (in thousands): Assets acquired: Cash and cash equivalents $ 37,892 Trade and other receivables, net 23,042 Prepaid expenses and other current assets and other assets 2,581 Property and equipment, net 2,246 Acquisition-related intangible assets 316,000 Total assets acquired $ 381,761 Liabilities assumed: Accounts payable $ 3,115 Accrued expenses and other current liabilities 9,396 Accrued compensation 13,545 Unearned revenue (1) 67,754 Other liabilities 1,919 Total liabilities assumed 95,729 Net assets acquired, excluding goodwill 286,032 Total purchase consideration 1,490,917 Goodwill $ 1,204,885 (1) The cost build-up method was used to determine the fair value of unearned revenue. |
Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination | The fair values and estimated useful lives of the acquired intangible assets by category are as follows (in thousands, except years): Estimated Fair Values Estimated Useful Lives (in Years) Trade name $ 400 1 Developed technology 28,000 5 Customer relationships 35,000 10 Total acquisition-related intangible assets $ 63,400 8 The fair values and estimated useful lives of the acquired intangible assets by category are as follows (in thousands, except years): Estimated Fair Values Estimated Useful Lives (in years) Trade name $ 12,000 1.5 Developed technology 105,000 5 Customer relationships 188,000 9 - 10 Backlog 11,000 2 Total acquisition-related intangible assets $ 316,000 8 |
Schedule of Business Acquisitions, by Acquisition | The purchase consideration transferred consisted of the following (in thousands): Purchase Consideration Cash paid to common and preferred stockholders, warrant holders, and vested option holders $ 1,408,422 Debt repaid by Workday on behalf of Adaptive Insights 53,696 Transaction costs paid by Workday on behalf of Adaptive Insights 23,375 Fair value of assumed Adaptive Insights awards attributable to pre-combination services (1) 5,424 Total purchase consideration $ 1,490,917 (1) The assumed awards were primarily options, which were valued based upon the Black-Scholes option-pricing model. |
Business Acquisition, Pro Forma Information | The pro forma financial information shown below summarizes the combined results of operations for Workday and Adaptive Insights as if the closing of the acquisition had occurred on February 1, 2017, the first day of our fiscal year 2018. The pro forma financial information includes adjustments that are directly attributable to the business combination and are factually supportable. The adjustments primarily reflect the amortization of acquired intangible assets, share-based compensation expense for replacement awards, as well as the pro forma tax impact for such adjustments. The pro forma financial information reflects $67 million of nonrecurring expenses related to acquisition costs and certain compensation expenses. Year Ended January 31, 2019 2018 (in thousands, except per share data) Total revenues $ 2,886,057 $ 2,228,917 Net loss (425,604) (529,404) Net loss per share, basic and diluted (1.96) (2.55) |
Acquisition-Related Intangibl_2
Acquisition-Related Intangible Assets, Net (Tables) | 12 Months Ended |
Jan. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Acquired Assets | Acquisition-related intangible assets, net consisted of the following (in thousands): January 31, 2020 2019 Developed technology $ 218,400 $ 186,800 Customer relationships 224,000 189,000 Trade name 12,400 12,000 Backlog 11,000 11,000 Acquisition-related intangible assets, gross 465,800 398,800 Less accumulated amortization (157,399) (85,560) Acquisition-related intangible assets, net $ 308,401 $ 313,240 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense | As of January 31, 2020, our future estimated amortization expense related to acquisition-related intangible assets is as follows (in thousands): Fiscal Period: 2021 $ 59,775 2022 52,833 2023 50,109 2024 38,933 2025 27,500 Thereafter 79,251 Total $ 308,401 Fiscal Period: 2021 $ 3,053 2022 2,620 2023 2,348 2024 2,040 2025 1,569 Thereafter 6,268 Total $ 17,898 |
Other Assets (Tables)
Other Assets (Tables) | 12 Months Ended |
Jan. 31, 2020 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |
Schedule of Other Assets | Other assets consisted of the following (in thousands): January 31, 2020 2019 Non-marketable equity and other investments $ 75,004 $ 50,546 Technology patents and other intangible assets, net 17,898 20,335 Derivative assets 9,529 10,035 Deposits 6,335 4,383 Prepayments for third-party hosted infrastructure platforms 4,797 16,976 Net deferred tax assets 6,912 4,544 Other 24,130 40,541 Total $ 144,605 $ 147,360 |
Summary of Future Estimated Amortization Expense Related to Acquired Leasehold Interest and Patents | As of January 31, 2020, our future estimated amortization expense related to acquisition-related intangible assets is as follows (in thousands): Fiscal Period: 2021 $ 59,775 2022 52,833 2023 50,109 2024 38,933 2025 27,500 Thereafter 79,251 Total $ 308,401 Fiscal Period: 2021 $ 3,053 2022 2,620 2023 2,348 2024 2,040 2025 1,569 Thereafter 6,268 Total $ 17,898 |
Derivative Instruments (Tables)
Derivative Instruments (Tables) | 12 Months Ended |
Jan. 31, 2020 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value | The fair values of outstanding derivative instruments were as follows (in thousands): Consolidated Balance Sheets Location January 31, 2020 2019 Derivative assets: Foreign currency forward contracts designated as cash flow hedges Prepaid expenses and other current assets $ 20,944 $ 12,076 Foreign currency forward contracts designated as cash flow hedges Other assets 9,529 10,015 Foreign currency forward contracts not designated as hedges Prepaid expenses and other current assets 2,801 459 Foreign currency forward contracts not designated as hedges Other assets — 20 Total derivative assets $ 33,274 $ 22,570 Derivative liabilities: Foreign currency forward contracts designated as cash flow hedges Accrued expenses and other current liabilities $ 1,211 $ 983 Foreign currency forward contracts designated as cash flow hedges Other liabilities 1,809 706 Foreign currency forward contracts not designated as hedges Accrued expenses and other current liabilities 976 1,446 Foreign currency forward contracts not designated as hedges Other liabilities — — Total derivative liabilities $ 3,996 $ 3,135 |
Schedule of Cash Flow Hedges On The Condensed Consolidated Statements of Operations | The effect of foreign currency forward contracts designated as cash flow hedges on the consolidated statements of operations was as follows (in thousands): Consolidated Statements of Operations Location Year Ended January 31, 2020 Total revenues Revenues $ 3,627,206 Amount of gains (losses) related to foreign currency forward contracts designated as cash flow hedges Revenues 6,142 |
Derivative Instruments, Gain (Loss) | Pre-tax gains (losses) associated with foreign currency forward contracts designated as cash flow hedges were as follows (in thousands): Consolidated Statements of Operations and Statements of Comprehensive Loss Locations Year Ended January 31, 2020 2019 2018 Gains (losses) recognized in OCI Net change in market value of effective foreign currency forward exchange contracts $ 31,842 $ 44,079 $ (45,869) Gains (losses) reclassified from AOCI into income (effective portion) Revenues 6,142 (7,012) 1,509 Gains (losses) recognized in income (amount excluded from effectiveness testing and ineffective portion) (1) Other income (expense), net — 13,868 1,607 (1) Prior to the adoption of ASU No. 2017-12, the changes in value of these foreign currency forward contracts resulting from changes in forward points were excluded from the assessment of hedge effectiveness and were recorded as incurred in Other income (expense), net on the consolidated statements of operations. Upon adoption of ASU No. 2017-12, we elected to prospectively include changes in the value of these contracts resulting from changes in forward points in the assessment of hedge effectiveness. These changes are recorded in AOCI on the consolidated balance sheets and will be subsequently reclassified to the related revenue line item on the consolidated statements of operations in the same period that the underlying revenues are earned. Gains (losses) associated with foreign currency forward contracts not designated as cash flow hedges were as follows (in thousands): Consolidated Statements of Operations Location Year Ended January 31, Derivative Type 2020 2019 2018 Foreign currency forward contracts not designated as hedges Other income (expense), net $ 3,671 $ 4,706 $ (5,641) |
Offsetting Assets | As of January 31, 2020, information related to these offsetting arrangements was as follows (in thousands): Gross Amounts of Recognized Assets Gross Amounts Offset on the Consolidated Balance Sheets Net Amounts of Assets Presented on the Consolidated Balance Sheets Gross Amounts Not Offset on the Consolidated Balance Sheets Net Assets Exposed Financial Instruments Cash Collateral Received Derivative assets: Counterparty A $ 782 $ — $ 782 $ (902) $ — $ (120) Counterparty B 28,113 — 28,113 (1,078) — 27,035 Counterparty C 4,379 — 4,379 (2,016) — 2,363 Total $ 33,274 $ — $ 33,274 $ (3,996) $ — $ 29,278 |
Offsetting Liabilities | Gross Amounts of Recognized Liabilities Gross Amounts Offset on the Consolidated Balance Sheets Net Amounts of Liabilities Presented on the Consolidated Balance Sheets Gross Amounts Not Offset on the Consolidated Balance Sheets Net Liabilities Exposed Financial Instruments Cash Collateral Pledged Derivative liabilities: Counterparty A $ 902 $ — $ 902 $ (902) $ — $ — Counterparty B 1,078 — 1,078 (1,078) — — Counterparty C 2,016 — 2,016 (2,016) — — Total $ 3,996 $ — $ 3,996 $ (3,996) $ — $ — |
Convertible Senior Notes, Net (
Convertible Senior Notes, Net (Tables) | 12 Months Ended |
Jan. 31, 2020 | |
Debt Disclosure [Abstract] | |
Schedule of Senior Notes | Our outstanding convertible senior notes consist of the following (in thousands): January 31, 2020 January 31, 2019 2020 Notes 2022 Notes 2020 Notes 2022 Notes Principal amounts: Principal $ 249,945 $ 1,150,000 $ 249,975 $ 1,150,000 Unamortized debt discount (5,319) (124,403) (16,480) (167,249) Unamortized debt issuance costs (307) (7,630) (981) (10,487) Net carrying amount of the liability component $ 244,319 $ 1,017,967 $ 232,514 $ 972,264 Carrying amount of the equity component (1) $ 66,007 $ 219,702 $ 66,007 $ 219,702 (1) Included on the consolidated balance sheets within Additional paid-in capital, net of $2 million and $4 million in equity issuance costs for the 2020 Notes and 2022 Notes, respectively. |
Schedule of Interest Expense Recognized Related to Convertible Senior Notes | The following table sets forth total interest expense recognized related to the Notes (in thousands): Year Ended January 31, 2020 2019 2018 2020 Notes 2022 Notes 2018 Notes 2020 Notes 2022 Notes 2018 Notes 2020 Notes 2022 Notes Contractual interest expense $ 3,749 $ 2,875 $ 1,196 $ 3,750 $ 2,875 $ 2,625 $ 3,750 $ 1,086 Interest cost related to amortization of debt issuance costs 674 2,857 641 673 2,858 1,409 673 1,080 Interest cost related to amortization of the debt discount 11,161 42,846 7,850 10,488 40,939 16,530 9,852 14,989 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Jan. 31, 2020 | |
Leases [Abstract] | |
Components of Lease Expense | The components of operating lease expense were as follows (in thousands): Year Ended January 31, 2020 Operating lease cost $ 85,154 Short-term lease cost 16,260 Variable lease cost 17,845 Total operating lease cost $ 119,259 |
Information Related to Right-of-Use Assets and Lease Liabilities | Information related to our operating lease right-of-use assets and operating lease liabilities was as follows (in thousands, except periods and percentages): Year Ended January 31, 2020 Cash paid for operating lease liabilities $ 75,029 Operating lease right-of-use assets obtained in exchange for new operating lease liabilities (1) 365,305 Year Ended January 31, 2020 Weighted average remaining lease term (in years) 6 Weighted average discount rate 3.36% |
Maturities of Operating Lease Liabilities | As of January 31, 2020, maturities of operating lease liabilities were as follows (in thousands): Fiscal period: 2021 $ 75,003 2022 72,938 2023 62,216 2024 53,064 2025 38,614 Thereafter 45,980 Total lease payments 347,815 Less imputed interest (40,243) Total $ 307,572 |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Jan. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Future Non-Cancelable Minimum Payments for Third-Party Hosted Computing Infrastructure Platforms | As of January 31, 2020, future non-cancelable minimum payments for third-party hosted infrastructure platforms are as follows (in thousands): Third-Party Hosted Infrastructure Platforms 2021 $ 40,375 2022 40,000 2023 40,000 2024 40,000 2025 40,000 Thereafter 272,084 Total $ 472,459 |
Stockholders' Equity (Tables)
Stockholders' Equity (Tables) | 12 Months Ended |
Jan. 31, 2020 | |
Share-based Payment Arrangement [Abstract] | |
Summary of Information Related to Restricted Stock Units Activity | A summary of information related to RSU activity during fiscal 2020, is as follows: Number of Shares Weighted-Average Grant Date Fair Value Balance as of January 31, 2019 13,013,289 $ 108.12 RSUs granted 5,918,077 187.89 RSUs vested (6,074,429) 104.64 RSUs forfeited (942,873) 127.83 Balance as of January 31, 2020 11,914,064 147.96 |
Summary of Stock Option Activity | A summary of information related to stock option activity during fiscal 2020, is as follows (in millions, except share and per share data): Outstanding Stock Options Weighted-Average Exercise Price Aggregate Intrinsic Value Balance as of January 31, 2019 5,780,742 $ 7.96 $ 1,003 Stock options exercised (2,298,649) 4.95 Stock options canceled (46,516) 22.34 Balance as of January 31, 2020 3,435,577 9.78 601 Vested and expected to vest as of January 31, 2020 3,413,967 9.62 597 Exercisable as of January 31, 2020 3,042,269 7.13 540 |
Assumptions Used for Periods Presented | The fair value of stock options assumed was estimated using the following assumptions: Year Ended January 31, 2019 Expected volatility 31.5% - 34.3% Expected term (in years) 0.03 - 2.42 Risk-free interest rate 2.10% - 2.72% Dividend yield —% The fair value of stock purchase rights granted under the ESPP was estimated using the following assumptions: Year Ended January 31, 2020 2019 2018 Expected volatility 36.9% - 41.7% 30.9% - 41.7% 25.3% - 32.0% Expected term (in years) 0.5 0.5 0.5 Risk-free interest rate 1.62% - 2.50% 2.09% - 2.50% 1.11% - 1.45% Dividend yield —% —% —% Grant date fair value per share $167.80 - $191.88 $126.29 - $167.80 $98.39 - $100.52 |
Other Income (Expense), Net (Ta
Other Income (Expense), Net (Tables) | 12 Months Ended |
Jan. 31, 2020 | |
Other Income and Expenses [Abstract] | |
Schedule of Other Income (Expense), Net | Other income (expense), net consisted of the following (in thousands): Year Ended January 31, 2020 2019 2018 Interest income $ 41,268 $ 42,461 $ 25,252 Interest expense (1) (58,685) (60,209) (44,549) Other (2) 37,200 57,280 7,734 Other income (expense), net $ 19,783 $ 39,532 $ (11,563) (1) Interest expense includes the contractual interest expense of the Notes, and related non-cash interest expense attributable to amortization of the related debt discount and debt issuance costs, net of capitalized interest costs. For further information, see Note 11, Convertible Senior Notes, Net. (2) Other includes the net gains (losses) from our equity investments. For further information, see Note 3, Investments. |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jan. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Components of Loss before Provision for (Benefit from) Income Taxes | The components of loss before provision for (benefit from) income taxes were as follows (in thousands): Year Ended January 31, 2020 2019 2018 Domestic $ (256,772) $ (263,505) $ (85,167) Foreign (225,675) (160,247) (229,619) Total $ (482,447) $ (423,752) $ (314,786) |
Summary of Provision for (Benefit from) Income Taxes | The provision for (benefit from) income taxes consisted of the following (in thousands): Year Ended January 31, 2020 2019 2018 Current: Federal $ — $ — $ — State 438 270 177 Foreign 7,707 6,596 4,251 Total 8,145 6,866 4,428 Deferred: Federal (1,258) (760) (535) State (2,014) (2,446) (100) Foreign (6,646) (9,154) 2,643 Total (9,918) (12,360) 2,008 Provision for (benefit from) income taxes $ (1,773) $ (5,494) $ 6,436 |
Reconciliation of Income Taxes Computed at Federal Statutory Income Tax Rate and Provision for (Benefit from) Income Taxes | The items accounting for the difference between income taxes computed at the federal statutory income tax rate and the provision for (benefit from) income taxes consisted of the following: Year Ended January 31, 2020 2019 2018 Federal statutory rate 21.0 % 21.0 % 33.8 % Effect of: Foreign income at other than U.S. rates (10.7) % (8.9) % (26.9) % Intercompany transactions 4.6 % 3.7 % 10.2 % Research tax credits 13.1 % 12.6 % 9.1 % State taxes, net of federal benefit (0.1) % (0.1) % — % U.S. corporate tax rate reduction — % — % (81.3) % Changes in valuation allowance (48.3) % (39.7) % 33.4 % Stock compensation 21.6 % 12.7 % 20.0 % Other (0.8) % — % (0.4) % 0.4 % 1.3 % (2.1) % |
Schedule of Deferred Tax Assets and Liabilities | Significant components of our deferred tax assets and liabilities were as follows (in thousands): January 31, 2020 2019 Deferred tax assets: Unearned revenue $ 20,613 $ 22,494 Other reserves and accruals 20,691 24,365 Federal net operating loss carryforwards 746,020 602,310 State net operating loss and foreign tax attributes carryforwards 371,233 232,815 Property and equipment 11,235 6,939 Share-based compensation 72,055 53,295 Research and development credits 243,617 183,323 Intangibles 488,626 516,416 Operating lease liabilities 73,563 — Other 12,360 3,268 2,060,013 1,645,225 Valuation allowance (1,903,837) (1,563,825) Deferred tax assets, net of valuation allowance 156,176 81,400 Deferred tax liabilities: Intercompany transactions (19,609) (30,900) Other prepaid assets (1,364) (466) Deferred commissions (61,459) (47,165) Operating lease right-of-use assets (67,775) — (150,207) (78,531) Net deferred tax assets $ 5,969 $ 2,869 |
Summary of Reconciliation of Gross Unrecognized Tax Benefit | A reconciliation of the gross unrecognized tax benefit is as follows (in thousands): Year Ended January 31, 2020 2019 2018 Unrecognized tax benefits at the beginning of the period $ 130,771 $ 107,849 $ 116,801 Additions for tax positions taken in prior years 309 10,586 1,500 Reductions for tax positions taken in prior years — — (8,121) Decrease for tax positions taken in prior years due to federal rate reduction — — (10,062) Additions for tax positions related to the current year 13,109 12,336 7,731 Reductions related to a lapse of applicable statute of limitations (568) — — Unrecognized tax benefits at the end of the period $ 143,621 $ 130,771 $ 107,849 |
Net Loss Per Share (Tables)
Net Loss Per Share (Tables) | 12 Months Ended |
Jan. 31, 2020 | |
Earnings Per Share [Abstract] | |
Summary of Calculation of Basic and Diluted Net Loss Per Share | The following table presents the calculation of basic and diluted net loss attributable to common stockholders per share (in thousands, except per share data): Year Ended January 31, 2020 2019 2018 Class A Class B Class A Class B Class A Class B Basic and diluted net loss attributable to Class A and Class B common stockholders per share: Numerator: Allocation of distributed net loss attributable to common stockholders $ (345,958) $ (134,716) $ (287,021) $ (131,237) $ (208,159) $ (113,063) Denominator: Weighted-average common shares outstanding 163,513 63,672 148,767 68,022 134,642 73,132 Basic and diluted net loss per share $ (2.12) $ (2.12) $ (1.93) $ (1.93) $ (1.55) $ (1.55) |
Anti-dilutive securities excluded from the diluted calculation | The anti-dilutive securities excluded from the weighted-average shares used to calculate the diluted net loss per common share were as follows (in thousands): January 31, 2020 2019 2018 Outstanding common stock options 3,436 5,781 6,595 Unvested restricted stock awards, units, and PRSUs 12,530 13,551 13,209 Shares related to the convertible senior notes 10,876 10,876 15,079 Shares subject to warrants related to the issuance of convertible senior notes 10,876 10,876 15,079 Shares issuable pursuant to the ESPP 491 402 466 Total 38,209 41,486 50,428 |
Geographic Information (Tables)
Geographic Information (Tables) | 12 Months Ended |
Jan. 31, 2020 | |
Segment Reporting [Abstract] | |
Summary of Revenues by Geographic Area | The following table sets forth revenue by geographic area (in thousands): Year Ended January 31, 2020 2019 2018 United States $ 2,741,427 $ 2,173,346 $ 1,694,347 Other countries 885,779 648,834 448,703 Total $ 3,627,206 $ 2,822,180 $ 2,143,050 |
Long-lived Assets by Geographic Areas | Aggregate property and equipment, net and operating lease right-of-use assets by geographic area is as follows (in thousands): January 31, 2020 2019 United States $ 1,064,292 $ 726,801 Ireland 122,619 55,306 Other countries 40,170 14,800 Total $ 1,227,081 $ 796,907 |
Selected Quarterly Financial _2
Selected Quarterly Financial Data (unaudited) (Tables) | 12 Months Ended |
Jan. 31, 2020 | |
Quarterly Financial Information Disclosure [Abstract] | |
Consolidated Statements of Operations Data | The following tables set forth selected unaudited quarterly consolidated statements of operations data for each of the eight quarters in fiscal 2020 and 2019 (in thousands, except per share data): Quarter ended 1/31/2020 10/31/2019 7/31/2019 4/30/2019 1/31/2019 10/31/2018 7/31/2018 4/30/2018 Consolidated Statements of Operations Data: Total revenues $ 976,299 $ 938,100 $ 887,752 $ 825,055 $ 788,628 $ 743,189 $ 671,720 $ 618,643 Operating loss (146,097) (110,250) (122,497) (123,386) (120,283) (182,755) (88,982) (71,264) Net loss (127,958) (115,729) (120,712) (116,275) (104,361) (153,331) (86,156) (74,410) Net loss per share, basic and diluted (0.56) (0.51) (0.53) (0.52) (0.47) (0.70) (0.40) (0.35) |
Overview and Basis of Present_2
Overview and Basis of Presentation (Detail) | 12 Months Ended |
Jan. 31, 2020segment | |
Accounting Policies [Abstract] | |
Number of operating segments | 1 |
Accounting Standards and Sign_3
Accounting Standards and Significant Accounting Policies (Detail) - USD ($) | 12 Months Ended | |||||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | Feb. 01, 2019 | Sep. 30, 2017 | Jun. 30, 2013 | |
Accounting Policies [Line Items] | ||||||
Period to pay portion of total arrangement fee, days | 30 days | |||||
Current unearned revenue anticipated recognition term, months | 12 months | |||||
Advertising expense | $ 61,000,000 | $ 51,000,000 | $ 43,000,000 | |||
Operating lease right-of-use assets | 290,902,000 | |||||
Operating lease liabilities | $ 307,572,000 | |||||
2018 Notes | ||||||
Accounting Policies [Line Items] | ||||||
Convertible senior notes, interest rate | 0.75% | |||||
Convertible Senior Notes, principal amount | $ 350,000,000 | |||||
2020 Notes | ||||||
Accounting Policies [Line Items] | ||||||
Convertible senior notes, interest rate | 1.50% | 1.50% | ||||
Convertible Senior Notes, principal amount | $ 249,945,000 | $ 249,975,000 | $ 250,000,000 | |||
2022 Notes | ||||||
Accounting Policies [Line Items] | ||||||
Convertible senior notes, interest rate | 0.25% | 0.25% | ||||
Convertible Senior Notes, principal amount | $ 1,150,000,000 | |||||
Minimum | ||||||
Accounting Policies [Line Items] | ||||||
Subscriptions contract period, years | 3 years | |||||
Lessee, operating lease, remaining lease term | 1 year | |||||
Maximum | ||||||
Accounting Policies [Line Items] | ||||||
Lessee, operating lease, remaining lease term | 10 years | |||||
Accounting Standards Update 2014-09 | ||||||
Accounting Policies [Line Items] | ||||||
Amortization period, deferred commissions | 5 years | |||||
Accounting Standards Update 2016-02 | ||||||
Accounting Policies [Line Items] | ||||||
Operating lease right-of-use assets | $ 279,000,000 | |||||
Operating lease liabilities | 307,000,000 | |||||
Deferred rent obligation and lease incentives | 28,000,000 | |||||
Accumulated Deficit | Accounting Standards Update 2018-07 | ||||||
Accounting Policies [Line Items] | ||||||
Cumulative effect of new accounting principle | $ (381,000) | $ 400,000 | ||||
Leasehold improvements | ||||||
Accounting Policies [Line Items] | ||||||
Property, plant and equipment, useful life (years) | 10 years |
Investments (Summary of Marketa
Investments (Summary of Marketable Securities) (Detail) - USD ($) $ in Thousands | Jan. 31, 2020 | Jan. 31, 2019 |
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | $ 1,350,931 | $ 1,312,220 |
Unrealized Gains | 3,067 | 470 |
Unrealized Losses | (49) | (683) |
Aggregate Fair Value | 1,353,949 | 1,312,007 |
U.S. treasury securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 312,183 | 396,347 |
Unrealized Gains | 492 | 61 |
Unrealized Losses | (5) | (178) |
Aggregate Fair Value | 312,670 | 396,230 |
U.S. agency obligations | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 169,613 | 241,914 |
Unrealized Gains | 99 | 73 |
Unrealized Losses | (44) | (151) |
Aggregate Fair Value | 169,668 | 241,836 |
Corporate bonds | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 504,434 | 419,784 |
Unrealized Gains | 2,476 | 336 |
Unrealized Losses | 0 | (352) |
Aggregate Fair Value | 506,910 | 419,768 |
Commercial paper | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 364,701 | 254,175 |
Unrealized Gains | 0 | 0 |
Unrealized Losses | 0 | (2) |
Aggregate Fair Value | 364,701 | 254,173 |
Included in cash and cash equivalents | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 140,517 | 216,270 |
Unrealized Gains | 0 | 0 |
Unrealized Losses | 0 | 0 |
Aggregate Fair Value | 140,517 | 216,270 |
Included in marketable securities | ||
Debt Securities, Available-for-sale [Line Items] | ||
Amortized Cost | 1,210,414 | 1,095,950 |
Unrealized Gains | 3,067 | 470 |
Unrealized Losses | (49) | (683) |
Aggregate Fair Value | $ 1,213,432 | $ 1,095,737 |
Investments (Narrative) (Detail
Investments (Narrative) (Detail) - USD ($) | 1 Months Ended | 12 Months Ended | ||
Feb. 29, 2020 | Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Investments, Debt and Equity Securities [Abstract] | ||||
Proceeds from sale of debt securities, available-for-sale | $ 6,000,000 | $ 950,000,000 | $ 244,000,000 | |
Proceeds from sale of equity securities, available-for-sale | 51,000,000 | 0 | $ 0 | |
Gain on sale of equity securities, available-for-sale | 7,000,000 | |||
Equity securities without readily determinable fair value, upward price adjustment, annual amount | 6,000,000 | 0 | ||
Equity securities without readily determinable fair value, downward price adjustment, annual amount | $ 0 | |||
Scout RFP | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Non-cash gain on the sale of a non-marketable equity investment | $ 20,000,000 | |||
Subsequent Event | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Payments to acquire equity method investments | $ 50,000,000 |
Investments (Equity Investments
Investments (Equity Investments) (Detail) - USD ($) $ in Thousands | Jan. 31, 2020 | Jan. 31, 2019 |
Investments, Debt and Equity Securities [Abstract] | ||
Money market funds | $ 386,909 | $ 237,071 |
Marketable equity investments | 0 | 44,127 |
Non-marketable equity investments | 59,026 | 36,925 |
Equity investments | $ 445,935 | $ 318,123 |
Investments (Realized and Unrea
Investments (Realized and Unrealized Gains (Losses)) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Investments, Debt and Equity Securities [Abstract] | |||
Net realized gains (losses) recognized on equity investments sold | $ 26,837 | $ 8,333 | $ 720 |
Net unrealized gains (losses) recognized on equity investments held | 6,057 | 32,127 | (692) |
Total net gains (losses) recognized in other income (expense), net | $ 32,894 | $ 40,460 | $ 28 |
Fair Value Measurements (Inform
Fair Value Measurements (Information about Assets and Liabilities that are Measured at Fair Value on a Recurring Basis) (Detail) - USD ($) $ in Thousands | Jan. 31, 2020 | Jan. 31, 2019 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | $ 1,353,949 | $ 1,312,007 |
Marketable equity investments | 0 | 44,127 |
Foreign currency derivative assets | 33,274 | |
Foreign currency derivative liabilities | 3,996 | |
Recurring | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable equity investments | 44,127 | |
Foreign currency derivative assets | 33,274 | 22,570 |
Total assets | 1,774,132 | 1,615,775 |
Foreign currency derivative liabilities | 3,996 | 3,135 |
Total liabilities | 3,996 | 3,135 |
Recurring | U.S. treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 312,670 | 396,230 |
Recurring | U.S. agency obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 169,668 | 241,836 |
Recurring | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 506,910 | 419,768 |
Recurring | Commercial paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 364,701 | 254,173 |
Recurring | Money market funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds | 386,909 | 237,071 |
Recurring | Level 1 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable equity investments | 44,127 | |
Foreign currency derivative assets | 0 | 0 |
Total assets | 699,579 | 677,428 |
Foreign currency derivative liabilities | 0 | 0 |
Total liabilities | 0 | 0 |
Recurring | Level 1 | U.S. treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 312,670 | 396,230 |
Recurring | Level 1 | U.S. agency obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Recurring | Level 1 | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Recurring | Level 1 | Commercial paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Recurring | Level 1 | Money market funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds | 386,909 | 237,071 |
Recurring | Level 2 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable equity investments | 0 | |
Foreign currency derivative assets | 33,274 | 22,570 |
Total assets | 1,074,553 | 938,347 |
Foreign currency derivative liabilities | 3,996 | 3,135 |
Total liabilities | 3,996 | 3,135 |
Recurring | Level 2 | U.S. treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Recurring | Level 2 | U.S. agency obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 169,668 | 241,836 |
Recurring | Level 2 | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 506,910 | 419,768 |
Recurring | Level 2 | Commercial paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 364,701 | 254,173 |
Recurring | Level 2 | Money market funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds | 0 | 0 |
Recurring | Level 3 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Marketable equity investments | 0 | |
Foreign currency derivative assets | 0 | 0 |
Total assets | 0 | 0 |
Foreign currency derivative liabilities | 0 | 0 |
Total liabilities | 0 | 0 |
Recurring | Level 3 | U.S. treasury securities | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Recurring | Level 3 | U.S. agency obligations | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Recurring | Level 3 | Corporate bonds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Recurring | Level 3 | Commercial paper | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Debt securities | 0 | 0 |
Recurring | Level 3 | Money market funds | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Money market funds | $ 0 | $ 0 |
Fair Value Measurements (Summar
Fair Value Measurements (Summary of Carrying Amounts and Estimated Fair Values of Financial Instruments) (Detail) - USD ($) $ in Thousands | Jan. 31, 2020 | Jan. 31, 2019 | Sep. 30, 2017 | Jun. 30, 2013 |
2020 Notes | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Net Carrying Amount | $ 244,319 | $ 232,514 | ||
Estimated Fair Value | $ 571,057 | 557,074 | ||
Contractual interest rate | 1.50% | 1.50% | ||
2022 Notes | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Net Carrying Amount | $ 1,017,967 | 972,264 | ||
Estimated Fair Value | $ 1,587,978 | $ 1,560,228 | ||
Contractual interest rate | 0.25% | 0.25% |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Detail) $ / shares in Units, $ in Millions | 12 Months Ended |
Jan. 31, 2020USD ($)$ / shares | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |
Closing price of company's common stock, dollars per share | $ / shares | $ 184.63 |
2020 Notes | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |
Convertible Senior Notes, if-converted excess of principal amount | $ 315 |
2022 Notes | |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |
Convertible Senior Notes, if-converted excess of principal amount | $ 293 |
Deferred Costs (Detail)
Deferred Costs (Detail) - USD ($) | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract] | |||
Deferred sales commissions | $ 323,000,000 | $ 264,000,000 | |
Amortization of deferred costs | 90,641,000 | 71,238,000 | $ 57,562,000 |
Capitalized contract cost, impairment loss | $ 0 | $ 0 | $ 0 |
Property and Equipment, Net (Su
Property and Equipment, Net (Summary of Property and Equipment) (Detail) - USD ($) $ in Thousands | Jan. 31, 2020 | Jan. 31, 2019 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 1,492,832 | $ 1,197,144 |
Less accumulated depreciation and amortization | (556,653) | (400,237) |
Property and equipment, net | 936,179 | 796,907 |
Land and land improvements | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 38,737 | 22,694 |
Buildings | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 489,028 | 433,863 |
Computers, equipment, and software | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 723,482 | 539,090 |
Furniture and fixtures | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 51,917 | 38,840 |
Leasehold improvements | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 189,668 | 162,657 |
Construction in Progress Related to Owned Real Estate Projects | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 3,000 | $ 355,000 |
Property and Equipment, Net (Na
Property and Equipment, Net (Narrative) (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Property, Plant and Equipment [Abstract] | |||
Depreciation expense | $ 201 | $ 147 | $ 115 |
Interest costs capitalized to property and equipment | $ 6 | $ 11 | $ 8 |
Business Combinations (Narrativ
Business Combinations (Narrative) (Details) $ in Thousands | Dec. 09, 2019USD ($) | Aug. 01, 2018USD ($) | Feb. 01, 2017USD ($) | Jul. 31, 2019USD ($) | Jul. 31, 2018USD ($)acquistion | Jan. 31, 2019USD ($) |
Business Acquisition [Line Items] | ||||||
Increase in goodwill acquired during period | $ 9,000 | $ 16,000 | ||||
Number of businesses acquired | acquistion | 2 | |||||
Scout RFP | ||||||
Business Acquisition [Line Items] | ||||||
Consideration paid for acquisition | $ 513,000 | |||||
Cash consideration | 485,000 | |||||
Consideration transferred for the fair value of a previously held equity interest | 28,000 | |||||
Increase in finite-lived intangible assets acquired | $ 63,400 | |||||
Estimated useful life | 8 years | |||||
Adaptive Insights | ||||||
Business Acquisition [Line Items] | ||||||
Consideration paid for acquisition | $ 1,490,917 | |||||
Cash consideration | 1,408,422 | |||||
Increase in finite-lived intangible assets acquired | $ 316,000 | |||||
Estimated useful life | 8 years | |||||
Acquisition related costs | $ 25,000 | |||||
Transaction costs | $ 67,000 | |||||
Developed technology | ||||||
Business Acquisition [Line Items] | ||||||
Increase in finite-lived intangible assets acquired | $ 4,000 | $ 12,000 | ||||
Developed technology | Scout RFP | ||||||
Business Acquisition [Line Items] | ||||||
Increase in finite-lived intangible assets acquired | $ 28,000 | |||||
Estimated useful life | 5 years | |||||
Developed technology | Adaptive Insights | ||||||
Business Acquisition [Line Items] | ||||||
Increase in finite-lived intangible assets acquired | $ 105,000 | |||||
Estimated useful life | 5 years | |||||
Customer relationships | Scout RFP | ||||||
Business Acquisition [Line Items] | ||||||
Increase in finite-lived intangible assets acquired | $ 35,000 | |||||
Estimated useful life | 10 years | |||||
Customer relationships | Adaptive Insights | ||||||
Business Acquisition [Line Items] | ||||||
Increase in finite-lived intangible assets acquired | $ 188,000 | |||||
Estimated useful life | 10 years |
Business Combinations (Assets a
Business Combinations (Assets and Liabilities Assumed) (Details) - USD ($) $ in Thousands | Jan. 31, 2020 | Dec. 09, 2019 | Jan. 31, 2019 | Aug. 01, 2018 |
Liabilities assumed: | ||||
Goodwill | $ 1,819,261 | $ 1,379,125 | ||
Scout RFP | ||||
Assets acquired: | ||||
Acquisition-related intangible assets | $ 63,400 | |||
Other assets acquired | 37,087 | |||
Liabilities assumed: | ||||
Total liabilities assumed | 16,907 | |||
Total purchase consideration | 513,492 | |||
Goodwill | $ 429,912 | |||
Adaptive Insights | ||||
Assets acquired: | ||||
Cash and cash equivalents | $ 37,892 | |||
Trade and other receivables, net | 23,042 | |||
Prepaid expenses and other current assets and other assets | 2,581 | |||
Property and equipment, net | 2,246 | |||
Acquisition-related intangible assets | 316,000 | |||
Total assets acquired | 381,761 | |||
Liabilities assumed: | ||||
Accounts payable | 3,115 | |||
Accrued expenses and other current liabilities | 9,396 | |||
Accrued compensation | 13,545 | |||
Unearned revenue | 67,754 | |||
Other liabilities | 1,919 | |||
Total liabilities assumed | 95,729 | |||
Net assets acquired, excluding goodwill | 286,032 | |||
Total purchase consideration | 1,490,917 | |||
Goodwill | $ 1,204,885 |
Business Combinations (Intangib
Business Combinations (Intangible Assets Acquired) (Details) - USD ($) $ in Thousands | Dec. 09, 2019 | Aug. 01, 2018 | Jul. 31, 2019 | Jul. 31, 2018 |
Developed technology | ||||
Business Acquisition [Line Items] | ||||
Total acquisition-related intangible assets | $ 4,000 | $ 12,000 | ||
Scout RFP | ||||
Business Acquisition [Line Items] | ||||
Total acquisition-related intangible assets | $ 63,400 | |||
Estimated Useful Lives | 8 years | |||
Scout RFP | Trade name | ||||
Business Acquisition [Line Items] | ||||
Total acquisition-related intangible assets | $ 400 | |||
Estimated Useful Lives | 1 year | |||
Scout RFP | Developed technology | ||||
Business Acquisition [Line Items] | ||||
Total acquisition-related intangible assets | $ 28,000 | |||
Estimated Useful Lives | 5 years | |||
Scout RFP | Customer relationships | ||||
Business Acquisition [Line Items] | ||||
Total acquisition-related intangible assets | $ 35,000 | |||
Estimated Useful Lives | 10 years | |||
Adaptive Insights | ||||
Business Acquisition [Line Items] | ||||
Total acquisition-related intangible assets | $ 316,000 | |||
Estimated Useful Lives | 8 years | |||
Adaptive Insights | Trade name | ||||
Business Acquisition [Line Items] | ||||
Total acquisition-related intangible assets | $ 12,000 | |||
Estimated Useful Lives | 1 year 6 months | |||
Adaptive Insights | Developed technology | ||||
Business Acquisition [Line Items] | ||||
Total acquisition-related intangible assets | $ 105,000 | |||
Estimated Useful Lives | 5 years | |||
Adaptive Insights | Customer relationships | ||||
Business Acquisition [Line Items] | ||||
Total acquisition-related intangible assets | $ 188,000 | |||
Estimated Useful Lives | 10 years | |||
Adaptive Insights | Backlog | ||||
Business Acquisition [Line Items] | ||||
Total acquisition-related intangible assets | $ 11,000 | |||
Estimated Useful Lives | 2 years | |||
Minimum | Adaptive Insights | Customer relationships | ||||
Business Acquisition [Line Items] | ||||
Estimated Useful Lives | 9 years | |||
Maximum | Adaptive Insights | Customer relationships | ||||
Business Acquisition [Line Items] | ||||
Estimated Useful Lives | 10 years |
Business Combinations (Consider
Business Combinations (Consideration Transferred) (Details) - Adaptive Insights $ in Thousands | Aug. 01, 2018USD ($) |
Business Acquisition [Line Items] | |
Cash paid to common and preferred stockholders, warrant holders, vested option holders, and for acceleration of unvested options | $ 1,408,422 |
Debt repaid by Workday on behalf of Adaptive Insights | 53,696 |
Transaction costs paid by Workday on behalf of acquired company | 23,375 |
Fair value of assumed Adaptive Insights awards attributable to pre-combination services | 5,424 |
Total purchase consideration | $ 1,490,917 |
Business Combinations (Pro Form
Business Combinations (Pro Forma) (Details) - Adaptive Insights - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Jan. 31, 2019 | Jan. 31, 2018 | |
Business Acquisition [Line Items] | ||
Total revenues | $ 2,886,057 | $ 2,228,917 |
Net loss | $ (425,604) | $ (529,404) |
Net loss per share, basic and diluted (usd per share) | $ (1.96) | $ (2.55) |
Acquisition-Related Intangibl_3
Acquisition-Related Intangible Assets, Net (Schedule of Acquired Assets) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Finite-Lived Intangible Assets [Line Items] | |||
Intangible assets, gross | $ 465,800 | $ 398,800 | |
Less accumulated amortization | (157,399) | (85,560) | |
Total | 308,401 | 313,240 | |
Developed technology | |||
Finite-Lived Intangible Assets [Line Items] | |||
Intangible assets, gross | 218,400 | 186,800 | |
Customer relationships | |||
Finite-Lived Intangible Assets [Line Items] | |||
Intangible assets, gross | 224,000 | 189,000 | |
Trade name | |||
Finite-Lived Intangible Assets [Line Items] | |||
Intangible assets, gross | 12,400 | 12,000 | |
Backlog | |||
Finite-Lived Intangible Assets [Line Items] | |||
Intangible assets, gross | 11,000 | 11,000 | |
Acquired Intangible Assets | |||
Finite-Lived Intangible Assets [Line Items] | |||
Total | 308,401 | ||
Amortization of intangible assets | $ 72,000 | $ 49,000 | $ 19,000 |
Acquisition-Related Intangibl_4
Acquisition-Related Intangible Assets, Net (Schedule of Future Amortization Expense) (Detail) - USD ($) $ in Thousands | Jan. 31, 2020 | Jan. 31, 2019 |
Finite-Lived Intangible Assets, Net, Amortization Expense, Rolling Maturity [Abstract] | ||
Total | $ 308,401 | $ 313,240 |
Acquired Intangible Assets | ||
Finite-Lived Intangible Assets, Net, Amortization Expense, Rolling Maturity [Abstract] | ||
2021 | 59,775 | |
2022 | 52,833 | |
2023 | 50,109 | |
2024 | 38,933 | |
2025 | 27,500 | |
Thereafter | 79,251 | |
Total | $ 308,401 |
Other Assets (Schedule of Other
Other Assets (Schedule of Other Assets) (Detail) - USD ($) $ in Thousands | Jan. 31, 2020 | Jan. 31, 2019 |
Other Assets [Line Items] | ||
Non-marketable equity and other investments | $ 75,004 | $ 50,546 |
Acquisition-related intangible assets, net | 308,401 | 313,240 |
Derivative assets | 9,529 | 10,035 |
Deposits | 6,335 | 4,383 |
Prepayments for third-party hosted infrastructure platforms | 4,797 | 16,976 |
Net deferred tax assets | 6,912 | 4,544 |
Other | 24,130 | 40,541 |
Total | 144,605 | 147,360 |
Patented Technology and Other Intangible Assets, Net | ||
Other Assets [Line Items] | ||
Acquisition-related intangible assets, net | $ 17,898 | $ 20,335 |
Other Assets (Summary of Future
Other Assets (Summary of Future Estimated Amortization Expense Related to Acquired Land Leasehold Interest and Technology Patents) (Detail) - USD ($) $ in Thousands | Jan. 31, 2020 | Jan. 31, 2019 |
Finite-Lived Intangible Assets [Line Items] | ||
Total | $ 308,401 | $ 313,240 |
Patented Technology and Other Intangible Assets, Net | ||
Finite-Lived Intangible Assets [Line Items] | ||
2021 | 3,053 | |
2022 | 2,620 | |
2023 | 2,348 | |
2024 | 2,040 | |
2025 | 1,569 | |
Thereafter | 6,268 | |
Total | $ 17,898 | $ 20,335 |
Derivative Instruments (Narrati
Derivative Instruments (Narrative) (Detail) - USD ($) $ in Millions | 12 Months Ended | |
Jan. 31, 2020 | Jan. 31, 2019 | |
Derivative [Line Items] | ||
Net gains (losses) on cash flow hedges estimated to be reclassified into income within the next 12 months | $ 16 | |
Not Designated as Hedging Instrument | Forward Contracts | ||
Derivative [Line Items] | ||
Derivative, notional amount | 246 | $ 198 |
Cash Flow Hedging | Designated as Hedging Instrument | Forward Contracts | ||
Derivative [Line Items] | ||
Derivative, notional amount | $ 908 | $ 717 |
Cash Flow Hedging | Designated as Hedging Instrument | Forward Contracts | Maximum | ||
Derivative [Line Items] | ||
Derivative, remaining maturity | 48 months |
Derivative Instruments (Fair Va
Derivative Instruments (Fair Values of Outstanding Derivative Instruments) (Detail) - USD ($) $ in Thousands | Jan. 31, 2020 | Jan. 31, 2019 |
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | $ 33,274 | $ 22,570 |
Derivative Liabilities | 3,996 | 3,135 |
Forward Contracts | Not Designated as Hedging Instrument | Prepaid expenses and other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 2,801 | 459 |
Forward Contracts | Not Designated as Hedging Instrument | Other assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 0 | 20 |
Forward Contracts | Not Designated as Hedging Instrument | Accrued expenses and other current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liabilities | 976 | 1,446 |
Forward Contracts | Not Designated as Hedging Instrument | Other liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liabilities | 0 | 0 |
Cash Flow Hedging | Forward Contracts | Designated as Hedging Instrument | Prepaid expenses and other current assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 20,944 | 12,076 |
Cash Flow Hedging | Forward Contracts | Designated as Hedging Instrument | Other assets | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Assets | 9,529 | 10,015 |
Cash Flow Hedging | Forward Contracts | Designated as Hedging Instrument | Accrued expenses and other current liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liabilities | 1,211 | 983 |
Cash Flow Hedging | Forward Contracts | Designated as Hedging Instrument | Other liabilities | ||
Derivatives, Fair Value [Line Items] | ||
Derivative Liabilities | $ 1,809 | $ 706 |
Derivative Instruments - Schedu
Derivative Instruments - Schedule of Cash Flow Hedges On The Condensed Consolidated Statements of Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 31, 2020 | Oct. 31, 2019 | Jul. 31, 2019 | Apr. 30, 2019 | Jan. 31, 2019 | Oct. 31, 2018 | Jul. 31, 2018 | Apr. 30, 2018 | Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||||
Total revenues | $ 976,299 | $ 938,100 | $ 887,752 | $ 825,055 | $ 788,628 | $ 743,189 | $ 671,720 | $ 618,643 | $ 3,627,206 | $ 2,822,180 | $ 2,143,050 |
Revenues | Designated as Hedging Instrument | |||||||||||
Derivative Instruments, Gain (Loss) [Line Items] | |||||||||||
Amount of gains (losses) related to foreign currency forward contracts designated as cash flow hedges | $ 6,142 |
Derivative Instruments (Gains (
Derivative Instruments (Gains (losses) Associated with Foreign Currency Forward Contracts) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Other income (expense), net | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Foreign currency forward contracts not designated as hedges | $ 3,671 | $ 4,706 | $ (5,641) |
Designated as Hedging Instrument | Revenues | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) reclassified from AOCI into income (effective portion) | 6,142 | ||
Gains (losses) reclassified from AOCI into income (effective portion) | (7,012) | 1,509 | |
Designated as Hedging Instrument | Other income (expense), net | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) recognized in income (amount excluded from effectiveness testing and ineffective portion) | 0 | ||
Gains (losses) recognized in income (amount excluded from effectiveness testing and ineffective portion) | 13,868 | 1,607 | |
Designated as Hedging Instrument | Net change in market value of effective foreign currency forward exchange contracts | |||
Derivative Instruments, Gain (Loss) [Line Items] | |||
Gains (losses) recognized in OCI | $ 31,842 | ||
Gains (losses) recognized in OCI | $ 44,079 | $ (45,869) |
Derivative Instruments (Offsett
Derivative Instruments (Offsetting Assets) (Detail) - USD ($) $ in Thousands | Jan. 31, 2020 | Jan. 31, 2019 |
Offsetting Assets [Line Items] | ||
Gross Amounts of Recognized Assets | $ 33,274 | $ 22,570 |
Gross Amounts Offset on the Consolidated Balance Sheets | 0 | |
Net Amounts of Assets Presented on the Consolidated Balance Sheets | 33,274 | |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments | (3,996) | |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Received | 0 | |
Net Assets Exposed | 29,278 | |
Counterparty A | ||
Offsetting Assets [Line Items] | ||
Gross Amounts of Recognized Assets | 782 | |
Gross Amounts Offset on the Consolidated Balance Sheets | 0 | |
Net Amounts of Assets Presented on the Consolidated Balance Sheets | 782 | |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments | (902) | |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Received | 0 | |
Net Assets Exposed | (120) | |
Counterparty B | ||
Offsetting Assets [Line Items] | ||
Gross Amounts of Recognized Assets | 28,113 | |
Gross Amounts Offset on the Consolidated Balance Sheets | 0 | |
Net Amounts of Assets Presented on the Consolidated Balance Sheets | 28,113 | |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments | (1,078) | |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Received | 0 | |
Net Assets Exposed | 27,035 | |
Counterparty C | ||
Offsetting Assets [Line Items] | ||
Gross Amounts of Recognized Assets | 4,379 | |
Gross Amounts Offset on the Consolidated Balance Sheets | 0 | |
Net Amounts of Assets Presented on the Consolidated Balance Sheets | 4,379 | |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments | (2,016) | |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Received | 0 | |
Net Assets Exposed | $ 2,363 |
Derivative Instruments (Offse_2
Derivative Instruments (Offsetting Liabilities) (Detail) - USD ($) $ in Thousands | Jan. 31, 2020 | Jan. 31, 2019 |
Offsetting Liabilities [Line Items] | ||
Gross Amounts of Recognized Liabilities | $ 3,996 | $ 3,135 |
Gross Amounts Offset on the Consolidated Balance Sheets | 0 | |
Net Amounts of Liabilities Presented on the Consolidated Balance Sheets | 3,996 | |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments | (3,996) | |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Pledged | 0 | |
Net Liabilities Exposed | 0 | |
Counterparty A | ||
Offsetting Liabilities [Line Items] | ||
Gross Amounts of Recognized Liabilities | 902 | |
Gross Amounts Offset on the Consolidated Balance Sheets | 0 | |
Net Amounts of Liabilities Presented on the Consolidated Balance Sheets | 902 | |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments | (902) | |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Pledged | 0 | |
Net Liabilities Exposed | 0 | |
Counterparty B | ||
Offsetting Liabilities [Line Items] | ||
Gross Amounts of Recognized Liabilities | 1,078 | |
Gross Amounts Offset on the Consolidated Balance Sheets | 0 | |
Net Amounts of Liabilities Presented on the Consolidated Balance Sheets | 1,078 | |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments | (1,078) | |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Pledged | 0 | |
Net Liabilities Exposed | 0 | |
Counterparty C | ||
Offsetting Liabilities [Line Items] | ||
Gross Amounts of Recognized Liabilities | 2,016 | |
Gross Amounts Offset on the Consolidated Balance Sheets | 0 | |
Net Amounts of Liabilities Presented on the Consolidated Balance Sheets | 2,016 | |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Financial Instruments | (2,016) | |
Gross Amounts Not Offset in the Consolidated Balance Sheets, Cash Collateral Pledged | 0 | |
Net Liabilities Exposed | $ 0 |
Convertible Senior Notes, Net -
Convertible Senior Notes, Net - Narrative (Detail) | 3 Months Ended | 12 Months Ended | ||||
Jul. 31, 2018shares | Jan. 31, 2020USD ($)trading_dayday$ / sharesshares | Jan. 31, 2019USD ($)daytrading_dayshares | Jan. 31, 2018USD ($) | Sep. 30, 2017USD ($) | Jun. 30, 2013USD ($) | |
Debt Instrument [Line Items] | ||||||
Threshold consecutive trading days | trading_day | 30 | 30 | ||||
Number of days out of thirty that common stock price exceeded conversion price | day | 20 | 20 | ||||
Interest costs capitalized | $ 6,000,000 | $ 11,000,000 | $ 8,000,000 | |||
Purchase of convertible senior notes hedges | 0 | 0 | 175,530,000 | |||
Proceeds from sale of warrants | $ 0 | 0 | 80,805,000 | |||
2018 Notes | ||||||
Debt Instrument [Line Items] | ||||||
Contractual interest rate | 0.75% | |||||
Convertible Senior Notes, principal amount | $ 350,000,000 | |||||
Repayments of debt | 350,000,000 | |||||
Debt issuance costs | 7,000,000 | |||||
Equity issuance costs | $ 2,000,000 | |||||
Amortization expense for debt issuance costs | $ 641,000 | 1,409,000 | ||||
Effective interest rates of the liability components, percentage | 5.75% | |||||
2018 Notes | Class A Common Stock | ||||||
Debt Instrument [Line Items] | ||||||
Shares issued (in shares) | shares | 1,500,000 | 1,500,000 | ||||
Initial conversion price (in dollars per share) | $ / shares | $ 83.28 | |||||
Indexed shares (in shares) | shares | 4,200,000 | |||||
2020 Notes | ||||||
Debt Instrument [Line Items] | ||||||
Contractual interest rate | 1.50% | 1.50% | ||||
Convertible Senior Notes, principal amount | $ 249,945,000 | $ 249,975,000 | $ 250,000,000 | |||
Threshold percentage of conversion price | 130.00% | |||||
Debt issuance costs | 5,000,000 | |||||
Equity issuance costs | $ 2,000,000 | |||||
Amortization expense for debt issuance costs | $ 674,000 | 673,000 | 673,000 | |||
Remaining life of the notes, months | 5 months | |||||
Effective interest rates of the liability components, percentage | 6.25% | |||||
2020 Notes | Class A Common Stock | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, convertible, number of shares | shares | 12.2340 | |||||
Initial conversion price (in dollars per share) | $ / shares | $ 81.74 | |||||
Indexed shares (in shares) | shares | 3,100,000 | |||||
2022 Notes | ||||||
Debt Instrument [Line Items] | ||||||
Contractual interest rate | 0.25% | |||||
Convertible Senior Notes, principal amount | $ 1,150,000,000 | 1,150,000,000 | $ 1,150,000,000 | |||
Debt issuance costs | 14,000,000 | |||||
Equity issuance costs | $ 4,000,000 | |||||
Amortization expense for debt issuance costs | $ 2,857,000 | $ 2,858,000 | $ 1,080,000 | |||
Remaining life of the notes, months | 32 months | |||||
Effective interest rates of the liability components, percentage | 4.60% | |||||
Purchase of convertible senior notes hedges | $ 176,000,000 | |||||
Proceeds from sale of warrants | $ 81,000,000 | |||||
2022 Notes | Class A Common Stock | ||||||
Debt Instrument [Line Items] | ||||||
Debt instrument, convertible, number of shares | shares | 6.7982 | |||||
Initial conversion price (in dollars per share) | $ / shares | $ 147.10 | |||||
Indexed shares (in shares) | shares | 7,800,000 | |||||
Convertible Senior Notes | ||||||
Debt Instrument [Line Items] | ||||||
Repurchase of notes percentage | 100.00% | |||||
Convertible Senior Notes | Debt Conversion, Option One | ||||||
Debt Instrument [Line Items] | ||||||
Threshold trading days (in trading days) | trading_day | 20 | |||||
Threshold consecutive trading days | trading_day | 30 | |||||
Threshold percentage of conversion price | 130.00% | |||||
Convertible Senior Notes | Debt Conversion, Option Two | ||||||
Debt Instrument [Line Items] | ||||||
Threshold consecutive trading days | trading_day | 5 | |||||
Threshold business days | trading_day | 5 | |||||
Convertible Senior Notes | Debt Conversion, Option Two | Maximum | ||||||
Debt Instrument [Line Items] | ||||||
Threshold percentage of conversion price | 98.00% | |||||
Face Value Per Note | ||||||
Debt Instrument [Line Items] | ||||||
Convertible Senior Notes, principal amount | $ 1,000 | |||||
Notes 2018 and 2020 | ||||||
Debt Instrument [Line Items] | ||||||
Purchase of convertible senior notes hedges | 144,000,000 | |||||
Proceeds from sale of warrants | $ 93,000,000 | |||||
Warrants Expires in October 2018 | ||||||
Debt Instrument [Line Items] | ||||||
Shares covered by each purchased option/warrant, shares | shares | 4,200,000 | |||||
Trading days | day | 60 | |||||
Exercise price of warrants, dollars per share | $ / shares | $ 107.96 | |||||
Warrants Expires In October 2020 | ||||||
Debt Instrument [Line Items] | ||||||
Shares covered by each purchased option/warrant, shares | shares | 3,100,000 | |||||
Trading days | day | 60 | |||||
Exercise price of warrants, dollars per share | $ / shares | $ 107.96 | |||||
Warrants Expires In January 2023 | ||||||
Debt Instrument [Line Items] | ||||||
Shares covered by each purchased option/warrant, shares | shares | 7,800,000 | |||||
Trading days | day | 60 | |||||
Exercise price of warrants, dollars per share | $ / shares | $ 213.96 | |||||
Warrants Expires in July 2018 | ||||||
Debt Instrument [Line Items] | ||||||
Aggregate amount paid for purchased options | $ 0 | |||||
Warrants Expires in July 2018 | Class A Common Stock | ||||||
Debt Instrument [Line Items] | ||||||
Shares issued (in shares) | shares | 1,100,000 |
Convertible Senior Notes, Net_2
Convertible Senior Notes, Net (Schedule of Senior Notes) (Detail) - USD ($) | Jan. 31, 2020 | Jan. 31, 2019 | Sep. 30, 2017 | Jun. 30, 2013 |
Debt Instrument [Line Items] | ||||
Net carrying amount, Current | $ 244,319,000 | $ 232,514,000 | ||
Net carrying amount, Noncurrent | 1,017,967,000 | 972,264,000 | ||
2020 Notes | ||||
Debt Instrument [Line Items] | ||||
Principal | 249,945,000 | 249,975,000 | $ 250,000,000 | |
Unamortized debt discount | (5,319,000) | (16,480,000) | ||
Unamortized debt issuance costs | (307,000) | (981,000) | ||
Net carrying amount, Current | 244,319,000 | |||
Net carrying amount, Noncurrent | 232,514,000 | |||
Carrying amount of the equity component | 66,007,000 | 66,007,000 | ||
Equity issuance costs | $ 2,000,000 | |||
2022 Notes | ||||
Debt Instrument [Line Items] | ||||
Principal | 1,150,000,000 | 1,150,000,000 | $ 1,150,000,000 | |
Unamortized debt discount | (124,403,000) | (167,249,000) | ||
Unamortized debt issuance costs | (7,630,000) | (10,487,000) | ||
Net carrying amount, Current | 1,017,967,000 | |||
Net carrying amount, Noncurrent | 972,264,000 | |||
Carrying amount of the equity component | $ 219,702,000 | $ 219,702,000 | ||
Equity issuance costs | $ 4,000,000 |
Convertible Senior Notes, Net_3
Convertible Senior Notes, Net (Schedule of Interest Expense Recognized Related to Convertible Senior Notes) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Debt Instrument [Line Items] | |||
Interest cost related to amortization of the debt discount | $ 54,034 | $ 59,974 | $ 43,916 |
2018 Notes | |||
Debt Instrument [Line Items] | |||
Contractual interest expense | 1,196 | 2,625 | |
Interest cost related to amortization of debt issuance costs | 641 | 1,409 | |
Interest cost related to amortization of the debt discount | 7,850 | 16,530 | |
2020 Notes | |||
Debt Instrument [Line Items] | |||
Contractual interest expense | 3,749 | 3,750 | 3,750 |
Interest cost related to amortization of debt issuance costs | 674 | 673 | 673 |
Interest cost related to amortization of the debt discount | 11,161 | 10,488 | 9,852 |
2022 Notes | |||
Debt Instrument [Line Items] | |||
Contractual interest expense | 2,875 | 2,875 | 1,086 |
Interest cost related to amortization of debt issuance costs | 2,857 | 2,858 | 1,080 |
Interest cost related to amortization of the debt discount | $ 42,846 | $ 40,939 | $ 14,989 |
Leases - Narrative (Details)
Leases - Narrative (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Lessee, Lease, Description [Line Items] | |||
Operating lease right-of-use assets | $ 290,902 | ||
Operating lease liabilities | 307,572 | ||
Rent expense | $ 99,000 | $ 82,000 | |
Operating lease, lease not yet commenced, payment | $ 37,000 | ||
Minimum | |||
Lessee, Lease, Description [Line Items] | |||
Operating lease, lease not yet commenced, term (years) | 1 year | ||
Maximum | |||
Lessee, Lease, Description [Line Items] | |||
Operating lease, lease not yet commenced, term (years) | 10 years | ||
Pleasanton, California | Chairman, Mr. Duffield | |||
Lessee, Lease, Description [Line Items] | |||
Operating lease right-of-use assets | $ 57,000 | ||
Operating lease liabilities | 70,000 | ||
Rent expense | $ 13,000 | $ 11,000 | $ 8,000 |
Term of agreements (in years) | 5 years |
Leases - Components of Lease Ex
Leases - Components of Lease Expense (Details) $ in Thousands | 12 Months Ended |
Jan. 31, 2020USD ($) | |
Leases [Abstract] | |
Operating lease cost | $ 85,154 |
Short-term lease cost | 16,260 |
Variable lease cost | 17,845 |
Total operating lease cost | $ 119,259 |
Leases - Information Related to
Leases - Information Related to Our Right-of-Use Assets and Lease Liabilities (Details) - USD ($) $ in Thousands | Feb. 01, 2019 | Jan. 31, 2020 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Cash paid for operating lease liabilities | $ 75,029 | |
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities | $ 365,305 | |
Weighted average remaining lease term (in years) | 6 years | |
Weighted average discount rate | 3.36% | |
Accounting Standards Update 2016-02 | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities | $ 279,000 | |
Accounting Standards Update 2016-02, Commenced Subsequent To Adoption | ||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||
Operating lease right-of-use assets obtained in exchange for new operating lease liabilities | $ 86,000 |
Leases - Maturities of Operatin
Leases - Maturities of Operating and Finance Lease Liabilities (Details) $ in Thousands | Jan. 31, 2020USD ($) |
Operating Leases | |
2021 | $ 75,003 |
2022 | 72,938 |
2023 | 62,216 |
2024 | 53,064 |
2025 | 38,614 |
Thereafter | 45,980 |
Total lease payments | 347,815 |
Less imputed interest | (40,243) |
Operating lease liabilities | $ 307,572 |
Commitments and Contingencies_2
Commitments and Contingencies (Narrative) (Detail) - USD ($) $ in Thousands | Jan. 31, 2020 | Jun. 30, 2019 |
Loss Contingencies [Line Items] | ||
Future non-cancelable minimum payments | $ 347,815 | |
Third-Party Hosted Infrastructure Platforms | ||
Loss Contingencies [Line Items] | ||
Future non-cancelable minimum payments | $ 500,000 |
Commitments and Contingencies_3
Commitments and Contingencies (Future Non-Cancelable Minimum Payments for Third-Party Hosted Computing Infrastructure Platforms) (Detail) - Third-Party Hosted Infrastructure Platforms $ in Thousands | Jan. 31, 2020USD ($) |
Operating Leased Assets and Non-Leased Assets [Line Items] | |
2021 | $ 40,375 |
2022 | 40,000 |
2023 | 40,000 |
2024 | 40,000 |
2025 | 40,000 |
Thereafter | 272,084 |
Total | $ 472,459 |
Stockholders' Equity (Narrative
Stockholders' Equity (Narrative) (Detail) $ / shares in Units, $ in Millions | 1 Months Ended | 12 Months Ended | ||
Mar. 31, 2019shares | Jan. 31, 2020USD ($)vote$ / sharesshares | Jan. 31, 2019USD ($)$ / sharesshares | Jan. 31, 2018USD ($)$ / shares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock options assumed (in shares) | 0 | |||
Weighted-average grant-date fair value of stock options assumed (usd per share) | $ / shares | $ 100.69 | |||
Employee Stock Purchase Plan (ESPP) | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Percentage of fair market value of stock at which employees are granted shares | 85.00% | |||
Weighted average grant date fair value (in dollars per share) | $ / shares | $ 147.51 | |||
Number of shares purchased by employees, shares | 1,000,000 | |||
Cash proceeds | $ | $ 114 | |||
Class A Common Stock | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Common stock outstanding, shares | 170,000,000 | 157,000,000 | ||
Common stock, votes per share | vote | 1 | |||
Class A Common Stock | 2012 Equity Incentive Plan (EIP) | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Share reserve increased, shares | 11,000,000 | |||
Common stock available for future grants, shares | 71,000,000 | |||
Class A Common Stock | Employee Stock Purchase Plan (ESPP) | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Common stock available for future grants, shares | 5,000,000 | |||
Class B Common Stock | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Common stock outstanding, shares | 62,000,000 | 65,000,000 | ||
Common stock, votes per share | vote | 10 | |||
Percent of shares of common stock less than 9% of the outstanding shares | 9.00% | |||
Duration of time after death of Co-Founders until shares are converted, months | 9 months | |||
Restricted Stock Units (RSU) | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period, years | 4 years | |||
Weighted average grant date fair value (in dollars per share) | $ / shares | $ 187.89 | $ 129.62 | $ 88.90 | |
Total grant-date fair value of units vested | $ | $ 1,200 | $ 801 | $ 528 | |
Unrecognized compensation cost | $ | $ 1,600 | |||
Weighted-average period to be recognized, years | 3 years | |||
Number of shares granted, (in shares) | 5,918,077 | |||
Outstanding common stock options | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Vesting period, years | 5 years | |||
Weighted-average period to be recognized, years | 3 years | |||
Unrecognized compensation cost | $ | $ 34 | |||
Maximum exercise period, years | 10 years | |||
Fair value of options vested in period | $ | $ 37 | 29 | 5 | |
Total intrinsic value of the options exercised | $ | $ 407 | $ 261 | $ 234 | |
Weighted-average remaining contractual life of vested and expected to vest options, years | 2 years | |||
Weighted-average remaining contractual life of exercisable options, years | 2 years | |||
Weighted-average remaining contractual life of outstanding options, years | 3 years | |||
Vesting March 15 2019 | All Other Employees | Performance-based Restricted Stock Units | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Number of shares granted, (in shares) | 500,000 | |||
Compensation cost | $ | $ 15 | |||
Vesting March 15 2020 | All Other Employees | Performance-based Restricted Stock Units | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Unrecognized compensation cost | $ | $ 21 | |||
Weighted-average period to be recognized, years | 2 months | |||
Number of shares granted, (in shares) | 600,000 | |||
Compensation cost | $ | $ 97 |
Stockholders' Equity (Summary o
Stockholders' Equity (Summary of Information Related to Restricted Stock Units Activity) (Detail) - Restricted Stock Units (RSU) - $ / shares | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Restricted Stock Units | |||
Beginning Balance, Number of Shares | 13,013,289 | ||
Restricted stock units granted, Number of Shares | 5,918,077 | ||
Restricted stock units vested, Number of Shares | (6,074,429) | ||
Restricted stock units forfeited, Number of Shares | (942,873) | ||
Ending Balance, Number of Shares | 11,914,064 | 13,013,289 | |
Weighted-Average Grant Date Fair Value | |||
Beginning Balance (in usd per share) | $ 108.12 | ||
Restricted stock units granted (in usd per share) | 187.89 | $ 129.62 | $ 88.90 |
Restricted stock units vested (in usd per share) | 104.64 | ||
Restricted stock units forfeited (in usd per share) | 127.83 | ||
Ending Balance (in usd per share) | $ 147.96 | $ 108.12 |
Stockholders' Equity (Stock Opt
Stockholders' Equity (Stock Options) (Detail) $ / shares in Units, $ in Millions | 12 Months Ended |
Jan. 31, 2020USD ($)$ / sharesshares | |
Outstanding Stock Options | |
Beginning Balance (in shares) | shares | 5,780,742 |
Stock options exercised (in shares) | shares | (2,298,649) |
Stock options canceled (in shares) | shares | (46,516) |
Ending Balance (in shares) | shares | 3,435,577 |
Vested and expected to vest ( in shares) | shares | 3,413,967 |
Exercisable (in shares) | shares | 3,042,269 |
Weighted- Average Exercise Price | |
Beginning Balance (in usd per share) | $ / shares | $ 7.96 |
Stock options exercised (in usd per share) | $ / shares | 4.95 |
Stock options canceled (in usd per share) | $ / shares | 22.34 |
Ending Balance (in usd per share) | $ / shares | 9.78 |
Vested and expected to vest, Weighted-Average Exercise Price (in usd per share) | $ / shares | 9.62 |
Exercisable, Weighted-Average Exercise Price (in usd per share) | $ / shares | $ 7.13 |
Beginning Balance, Aggregate Intrinsic Value | $ | $ 1,003 |
Ending Balance, Aggregate Intrinsic Value | $ | 601 |
Vested and expected to vest, Aggregate Intrinsic Value | $ | 597 |
Exercisable, Aggregate Intrinsic Value | $ | $ 540 |
Stockholders' Equity (Assumptio
Stockholders' Equity (Assumptions Used for Periods Presented) (Detail) - $ / shares | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Stock Options | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected volatility, Minimum | 31.50% | ||
Expected volatility, Maximum | 34.30% | ||
Risk-free interest rate, Minimum | 2.10% | ||
Risk-free interest rate, Maximum | 2.72% | ||
Dividend yield, percentage | 0.00% | ||
Stock Options | Minimum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected term (in years) | 10 days | ||
Stock Options | Maximum | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected term (in years) | 2 years 5 months 1 day | ||
ESPP | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Expected volatility, Minimum | 36.90% | 30.90% | 25.30% |
Expected volatility, Maximum | 41.70% | 41.70% | 32.00% |
Expected term (in years) | 6 months | 6 months | 6 months |
Risk-free interest rate, Minimum | 1.62% | 2.09% | 1.11% |
Risk-free interest rate, Maximum | 2.50% | 2.50% | 1.45% |
Dividend yield, percentage | 0.00% | 0.00% | 0.00% |
Offering Period 1 | ESPP | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Grant date fair value per share, dollars per share | $ 167.80 | $ 126.29 | $ 98.39 |
Offering Period 2 | ESPP | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Grant date fair value per share, dollars per share | $ 191.88 | $ 167.80 | $ 100.52 |
Unearned Revenue and Performa_2
Unearned Revenue and Performance Obligations (Details) - USD ($) $ in Millions | 12 Months Ended | |||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | Oct. 31, 2018 | |
Revenue from Contract with Customer [Abstract] | ||||
Subscription revenue recognized that was included in total unearned revenue balance at beginning of period | $ 1,800 | $ 1,400 | $ 1,000 | |
Subscriptions | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Revenue is expected to be recognized from remaining performance obligations for subscription contracts | 8,290 | |||
Subscriptions | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-02-01 | ||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | ||||
Revenue is expected to be recognized from remaining performance obligations for subscription contracts | $ 5,480 | |||
Recognition period | 24 months |
Other Income (Expense), Net (De
Other Income (Expense), Net (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Other Income and Expenses [Abstract] | |||
Interest income | $ 41,268 | $ 42,461 | $ 25,252 |
Interest expense | (58,685) | (60,209) | (44,549) |
Other | 37,200 | 57,280 | 7,734 |
Other income (expense), net | $ 19,783 | $ 39,532 | $ (11,563) |
Income Taxes (Components of Los
Income Taxes (Components of Loss before Provision for (Benefit from) Income Taxes) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||
Domestic | $ (256,772) | $ (263,505) | $ (85,167) |
Foreign | (225,675) | (160,247) | (229,619) |
Loss before provision for (benefit from) income taxes | $ (482,447) | $ (423,752) | $ (314,786) |
Income Taxes (Summary of Provis
Income Taxes (Summary of Provision for (Benefit from) for Income Taxes) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Current: | |||
Federal | $ 0 | $ 0 | $ 0 |
State | 438 | 270 | 177 |
Foreign | 7,707 | 6,596 | 4,251 |
Total | 8,145 | 6,866 | 4,428 |
Deferred: | |||
Federal | (1,258) | (760) | (535) |
State | (2,014) | (2,446) | (100) |
Foreign | (6,646) | (9,154) | 2,643 |
Total | (9,918) | (12,360) | 2,008 |
Provision for (benefit from) income taxes | $ (1,773) | $ (5,494) | $ 6,436 |
Income Taxes (Reconciliation of
Income Taxes (Reconciliation of Income Taxes Computed at Federal Statutory Income Tax Rate and Provision for (Benefit from) Income Taxes) (Detail) | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Income Tax Disclosure [Abstract] | |||
Federal statutory rate | 21.00% | 21.00% | 33.80% |
Effect of: | |||
Foreign income at other than U.S. rates | (10.70%) | (8.90%) | (26.90%) |
Intercompany transactions | 4.60% | 3.70% | 10.20% |
Research tax credits | 13.10% | 12.60% | 9.10% |
State taxes, net of federal benefit | (0.10%) | (0.10%) | 0.00% |
U.S. corporate tax rate reduction | 0.00% | 0.00% | (81.30%) |
Changes in valuation allowance | (48.30%) | (39.70%) | 33.40% |
Stock compensation | 21.60% | 12.70% | 20.00% |
Other | (0.80%) | 0.00% | (0.40%) |
Total | 0.40% | 1.30% | (2.10%) |
Income Taxes (Narrative) (Detai
Income Taxes (Narrative) (Detail) - USD ($) | 12 Months Ended | |||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | Jan. 31, 2017 | |
Tax Credit Carryforward [Line Items] | ||||
Valuation allowance | $ 1,903,837,000 | $ 1,563,825,000 | ||
Increase of valuation allowance on net deferred tax assets | 340,000,000 | 939,000,000 | ||
Unrecognized tax benefits, accrued penalties and interest | 0 | 0 | $ 0 | |
Unrecognized tax benefits | 143,621,000 | $ 130,771,000 | $ 107,849,000 | $ 116,801,000 |
Unrecognized tax benefits that would impact effective tax rate | 1,000,000 | |||
Federal | ||||
Tax Credit Carryforward [Line Items] | ||||
Net operating loss carryforwards | 3,400,000,000 | |||
Federal | Research Tax Credit Carryforward | ||||
Tax Credit Carryforward [Line Items] | ||||
Tax credit carryforwards | 163,000,000 | |||
State | ||||
Tax Credit Carryforward [Line Items] | ||||
Net operating loss carryforwards | 2,300,000,000 | |||
State | Research Tax Credit Carryforward | ||||
Tax Credit Carryforward [Line Items] | ||||
Tax credit carryforwards | 160,000,000 | |||
Foreign | ||||
Tax Credit Carryforward [Line Items] | ||||
Net operating loss carryforwards | $ 1,500,000,000 |
Income Taxes (Schedule of Defer
Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Detail) - USD ($) $ in Thousands | Jan. 31, 2020 | Jan. 31, 2019 |
Deferred tax assets: | ||
Unearned revenue | $ 20,613 | $ 22,494 |
Other reserves and accruals | 20,691 | 24,365 |
Federal net operating loss carryforwards | 746,020 | 602,310 |
State net operating loss and foreign tax attributes carryforwards | 371,233 | 232,815 |
Property and equipment | 11,235 | 6,939 |
Share-based compensation | 72,055 | 53,295 |
Research and development credits | 243,617 | 183,323 |
Intangibles | 488,626 | 516,416 |
Operating lease liabilities | 73,563 | |
Other | 12,360 | 3,268 |
Deferred tax asset | 2,060,013 | 1,645,225 |
Valuation allowance | (1,903,837) | (1,563,825) |
Deferred tax assets, net of valuation allowance | 156,176 | 81,400 |
Deferred tax liabilities: | ||
Intercompany transactions | (19,609) | (30,900) |
Other prepaid assets | (1,364) | (466) |
Deferred commissions | (61,459) | (47,165) |
Operating lease right-of-use assets | (67,775) | |
Deferred tax liabilities | (150,207) | (78,531) |
Net deferred tax assets | $ 5,969 | $ 2,869 |
Income Taxes (Summary of Reconc
Income Taxes (Summary of Reconciliation of Gross Unrecognized Tax Benefit) (Detail) - USD ($) $ in Thousands | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | |||
Unrecognized tax benefits at the beginning of the period | $ 130,771 | $ 107,849 | $ 116,801 |
Additions for tax positions taken in prior years | 309 | 10,586 | 1,500 |
Reductions for tax positions taken in prior years | 0 | 0 | (8,121) |
Decrease for tax positions taken in prior years due to federal rate reduction | 0 | 0 | (10,062) |
Additions for tax positions related to the current year | 13,109 | 12,336 | 7,731 |
Reductions related to a lapse of applicable statute of limitations | (568) | 0 | 0 |
Unrecognized tax benefits at the end of the period | $ 143,621 | $ 130,771 | $ 107,849 |
Net Loss Per Share (Summary of
Net Loss Per Share (Summary of Calculation of Basic and Diluted Net Loss Per Share) (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 31, 2020 | Oct. 31, 2019 | Jul. 31, 2019 | Apr. 30, 2019 | Jan. 31, 2019 | Oct. 31, 2018 | Jul. 31, 2018 | Apr. 30, 2018 | Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Numerator: | |||||||||||
Allocation of distributed net loss attributable to common stockholders | $ (480,674) | $ (418,258) | $ (321,222) | ||||||||
Denominator: | |||||||||||
Weighted-average common shares outstanding (in shares) | 227,185 | 216,789 | 207,774 | ||||||||
Basic and diluted net loss per share (dollars per share) | $ (0.56) | $ (0.51) | $ (0.53) | $ (0.52) | $ (0.47) | $ (0.70) | $ (0.40) | $ (0.35) | $ (2.12) | $ (1.93) | $ (1.55) |
Class A Common Stock | |||||||||||
Numerator: | |||||||||||
Allocation of distributed net loss attributable to common stockholders | $ (345,958) | $ (287,021) | $ (208,159) | ||||||||
Denominator: | |||||||||||
Weighted-average common shares outstanding (in shares) | 163,513 | 148,767 | 134,642 | ||||||||
Basic and diluted net loss per share (dollars per share) | $ (2.12) | $ (1.93) | $ (1.55) | ||||||||
Class B Common Stock | |||||||||||
Numerator: | |||||||||||
Allocation of distributed net loss attributable to common stockholders | $ (134,716) | $ (131,237) | $ (113,063) | ||||||||
Denominator: | |||||||||||
Weighted-average common shares outstanding (in shares) | 63,672 | 68,022 | 73,132 | ||||||||
Basic and diluted net loss per share (dollars per share) | $ (2.12) | $ (1.93) | $ (1.55) |
Net Loss Per Share (Summary o_2
Net Loss Per Share (Summary of Diluted Net Loss Per Common Share) (Detail) - shares shares in Thousands | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Total anti-dilutive securities (in shares) | 38,209 | 41,486 | 50,428 |
Outstanding common stock options | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Total anti-dilutive securities (in shares) | 3,436 | 5,781 | 6,595 |
Unvested restricted stock awards, units, and PRSUs | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Total anti-dilutive securities (in shares) | 12,530 | 13,551 | 13,209 |
Shares related to the convertible senior notes | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Total anti-dilutive securities (in shares) | 10,876 | 10,876 | 15,079 |
Shares subject to warrants related to the issuance of convertible senior notes | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Total anti-dilutive securities (in shares) | 10,876 | 10,876 | 15,079 |
Shares issuable pursuant to the ESPP | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | |||
Total anti-dilutive securities (in shares) | 491 | 402 | 466 |
Geographic Information - Summar
Geographic Information - Summary of Revenues by Geographic Area (Detail) $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 31, 2020USD ($)market | Oct. 31, 2019USD ($) | Jul. 31, 2019USD ($) | Apr. 30, 2019USD ($) | Jan. 31, 2019USD ($) | Oct. 31, 2018USD ($) | Jul. 31, 2018USD ($) | Apr. 30, 2018USD ($) | Jan. 31, 2020USD ($)market | Jan. 31, 2019USD ($) | Jan. 31, 2018USD ($) | |
Disaggregation of Revenue [Line Items] | |||||||||||
Number of primary geographical markets | market | 2 | 2 | |||||||||
Revenue | $ 976,299 | $ 938,100 | $ 887,752 | $ 825,055 | $ 788,628 | $ 743,189 | $ 671,720 | $ 618,643 | $ 3,627,206 | $ 2,822,180 | $ 2,143,050 |
United States | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue | 2,741,427 | 2,173,346 | 1,694,347 | ||||||||
Other countries | |||||||||||
Disaggregation of Revenue [Line Items] | |||||||||||
Revenue | $ 885,779 | $ 648,834 | $ 448,703 |
Geographic Information - Long-L
Geographic Information - Long-Lived Assets (Details) - USD ($) $ in Thousands | Jan. 31, 2020 | Jan. 31, 2019 |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Long-Lived Assets | $ 1,227,081 | $ 796,907 |
United States | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Long-Lived Assets | 1,064,292 | 726,801 |
Ireland | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Long-Lived Assets | 122,619 | 55,306 |
Other countries | ||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||
Long-Lived Assets | $ 40,170 | $ 14,800 |
401(k) Plan (Narrative) (Detail
401(k) Plan (Narrative) (Detail) - USD ($) $ in Millions | 12 Months Ended | ||
Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Retirement Benefits [Abstract] | |||
Contributions by employer | $ 36 | $ 28 | $ 15 |
Selected Quarterly Financial _3
Selected Quarterly Financial Data (unaudited) (Consolidated Statements of Operations Data) (Detail) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 12 Months Ended | |||||||||
Jan. 31, 2020 | Oct. 31, 2019 | Jul. 31, 2019 | Apr. 30, 2019 | Jan. 31, 2019 | Oct. 31, 2018 | Jul. 31, 2018 | Apr. 30, 2018 | Jan. 31, 2020 | Jan. 31, 2019 | Jan. 31, 2018 | |
Consolidated Statements of Operations Data: | |||||||||||
Total revenues | $ 976,299 | $ 938,100 | $ 887,752 | $ 825,055 | $ 788,628 | $ 743,189 | $ 671,720 | $ 618,643 | $ 3,627,206 | $ 2,822,180 | $ 2,143,050 |
Operating loss | (146,097) | (110,250) | (122,497) | (123,386) | (120,283) | (182,755) | (88,982) | (71,264) | (502,230) | (463,284) | (303,223) |
Net loss | $ (127,958) | $ (115,729) | $ (120,712) | $ (116,275) | $ (104,361) | $ (153,331) | $ (86,156) | $ (74,410) | $ (480,674) | $ (418,258) | $ (321,222) |
Net loss per share, basic and diluted (dollars per share) | $ (0.56) | $ (0.51) | $ (0.53) | $ (0.52) | $ (0.47) | $ (0.70) | $ (0.40) | $ (0.35) | $ (2.12) | $ (1.93) | $ (1.55) |
Uncategorized Items - wday-2020
Label | Element | Value |
Other Assets [Member] | ||
Restricted Cash | us-gaap_RestrictedCash | $ 130,000 |
Restricted Cash | us-gaap_RestrictedCash | 121,000 |
Restricted Cash | us-gaap_RestrictedCash | 1,299,000 |
Prepaid Expenses and Other Current Assets [Member] | ||
Restricted Cash | us-gaap_RestrictedCash | 0 |
Restricted Cash | us-gaap_RestrictedCash | 3,459,000 |
Restricted Cash | us-gaap_RestrictedCash | $ 3,519,000 |