| Summary of Marketable Securities |
The amortized cost and fair value of marketable securities as of the dates indicated below were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of September 30, 2015 (In thousands) |
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair
Value
|
U.S. Treasury securities |
$ |
253,781 |
|
|
$ |
746 |
|
|
$ |
(1 |
) |
|
$ |
254,526 |
|
U.S. Government agency securities |
479,544 |
|
|
664 |
|
|
(55 |
) |
|
480,153 |
|
Municipal securities |
11,672 |
|
|
9 |
|
|
— |
|
|
11,681 |
|
Corporate debt securities |
740,063 |
|
|
681 |
|
|
(585 |
) |
|
740,159 |
|
Money market and other |
512,891 |
|
|
— |
|
|
— |
|
|
512,891 |
|
Sovereign securities |
42,087 |
|
|
26 |
|
|
(10 |
) |
|
42,103 |
|
Subtotal |
2,040,038 |
|
|
2,126 |
|
|
(651 |
) |
|
2,041,513 |
|
Add: Time deposits(1)
|
31,095 |
|
|
— |
|
|
— |
|
|
31,095 |
|
Less: Cash equivalents |
566,858 |
|
|
— |
|
|
— |
|
|
566,858 |
|
Marketable securities |
$ |
1,504,275 |
|
|
$ |
2,126 |
|
|
$ |
(651 |
) |
|
$ |
1,505,750 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2015 (In thousands) |
Amortized
Cost |
|
Gross
Unrealized
Gains |
|
Gross
Unrealized
Losses |
|
Fair
Value |
U.S. Treasury securities |
$ |
274,965 |
|
|
$ |
605 |
|
|
$ |
(15 |
) |
|
$ |
275,555 |
|
U.S. Government agency securities |
571,843 |
|
|
551 |
|
|
(126 |
) |
|
572,268 |
|
Municipal securities |
31,819 |
|
|
7 |
|
|
(10 |
) |
|
31,816 |
|
Corporate debt securities |
625,965 |
|
|
511 |
|
|
(515 |
) |
|
625,961 |
|
Money market and other |
611,385 |
|
|
— |
|
|
— |
|
|
611,385 |
|
Sovereign securities |
57,091 |
|
|
33 |
|
|
(31 |
) |
|
57,093 |
|
Subtotal |
2,173,068 |
|
|
1,707 |
|
|
(697 |
) |
|
2,174,078 |
|
Add: Time deposits(1)
|
29,941 |
|
|
— |
|
|
— |
|
|
29,941 |
|
Less: Cash equivalents |
654,933 |
|
|
— |
|
|
— |
|
|
654,933 |
|
Marketable securities |
$ |
1,548,076 |
|
|
$ |
1,707 |
|
|
$ |
(697 |
) |
|
$ |
1,549,086 |
|
________________
|
|
(1) |
Time deposits excluded from fair value measurements. |
|
| Investments with Gross Unrealized Losses |
The following table summarizes the fair value and gross unrealized losses of the Company’s investments that were in an unrealized loss position as of the date indicated below:
|
|
|
|
|
|
|
|
|
As of September 30, 2015 (In thousands) |
Fair Value |
|
Gross
Unrealized
Losses(1)
|
U.S. Treasury securities |
$ |
10,412 |
|
|
$ |
(1 |
) |
U.S. Government agency securities |
55,314 |
|
|
(55 |
) |
Municipal securities |
2,655 |
|
|
— |
|
Corporate debt securities |
345,648 |
|
|
(585 |
) |
Sovereign securities |
22,718 |
|
|
(10 |
) |
Total |
$ |
436,747 |
|
|
$ |
(651 |
) |
__________________
|
|
(1) |
As of September 30, 2015, the amount of total gross unrealized losses related to investments that had been in a continuous loss position for 12 months or more was immaterial.
|
|
| Contractual Maturities of Securities |
The contractual maturities of securities classified as available-for-sale, regardless of their classification on the Company’s Condensed Consolidated Balance Sheet, as of the date indicated below were as follows:
|
|
|
|
|
|
|
|
|
As of September 30, 2015 (In thousands) |
Amortized Cost |
|
Fair Value |
Due within one year |
$ |
451,698 |
|
|
$ |
451,986 |
|
Due after one year through three years |
1,052,577 |
|
|
1,053,764 |
|
|
$ |
1,504,275 |
|
|
$ |
1,505,750 |
|
|