Company: VEEV
Filing Date: 2025-03-24
Form Type: 10-K
Source: 0001393052-25-000022
Chunk: 86

Company: VEEVA SYSTEMS INC
Filing Date: 2025-03-24
Form: 10-K
Item: Item 1A
Chunk 86
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 74,575 74,575 Corporate notes and bonds— 2,206,956 2,206,956 Foreign government bonds— 176,103 176,103 Municipal securities— 67,831 67,831 U.S. agency obligations— 24,709 24,709 U.S. Treasury securities— 887,164 887,164 Foreign currency derivative contracts— 96 96 Total financial assets$314,872 $4,034,839 $4,349,711 LiabilitiesForeign currency derivative contracts$— $(525)$(525)Total financial liabilities$— $(525)$(525)The following table presents the fair value hierarchy for financial assets and liabilities measured at fair value on a recurring basis as of January 31, 2024 (in thousands):Level 1Level 2TotalAssetsCash equivalents:Money market funds$73,197 $— $73,197 U.S. Treasury securities— 9,969 9,969 Short-term investments:Certificates of deposit— 94,283 94,283 Asset-backed securities— 606,981 606,981 Commercial paper— 144,245 144,245 Corporate notes and bonds— 1,585,029 1,585,029 Foreign government bonds— 50,206 50,206 Municipal securities— 79,474 79,474 U.S. agency obligations— 49,592 49,592 U.S. Treasury securities— 714,459 714,459 Foreign currency derivative contracts— 616 616 Total financial assets$73,197 $3,334,854 $3,408,051 LiabilitiesForeign currency derivative contracts$— $(232)$(232)Total financial liabilities$— $(232)$(232)We determine the fair value of our security holdings based on pricing from our service providers and market prices from industry-standard independent data providers. The valuation techniques used to measure the fair value of financial instruments having Level 2 inputs were derived from non-binding consensus prices that are corroborated by observable market data or quoted market prices for similar instruments. Such market prices may be quoted prices in active markets for identical assets (Level 1 inputs) or pricing determined using inputs other than quoted prices that are observable either directly or indirectly (Level 2 inputs). 

Veeva Systems Inc