| Summary of Marketable Securities |
The amortized cost and fair value of marketable securities as of the dates indicated below were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2016 (In thousands) |
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair Value |
U.S. Treasury securities |
$ |
326,321 |
|
|
$ |
1,181 |
|
|
$ |
— |
|
|
$ |
327,502 |
|
U.S. Government agency securities |
404,889 |
|
|
830 |
|
|
(14 |
) |
|
405,705 |
|
Municipal securities |
5,014 |
|
|
2 |
|
|
— |
|
|
5,016 |
|
Corporate debt securities |
676,259 |
|
|
2,372 |
|
|
(157 |
) |
|
678,474 |
|
Money market and other |
626,156 |
|
|
— |
|
|
— |
|
|
626,156 |
|
Sovereign securities |
41,224 |
|
|
38 |
|
|
(5 |
) |
|
41,257 |
|
Subtotal |
2,079,863 |
|
|
4,423 |
|
|
(176 |
) |
|
2,084,110 |
|
Add: Time deposits(1)
|
77,131 |
|
|
— |
|
|
— |
|
|
77,131 |
|
Less: Cash equivalents |
778,451 |
|
|
1 |
|
|
(17 |
) |
|
778,435 |
|
Marketable securities |
$ |
1,378,543 |
|
|
$ |
4,422 |
|
|
$ |
(159 |
) |
|
$ |
1,382,806 |
|
|
|
|
|
|
|
|
|
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 June 30, 2016 (In thousands) |
Fair Value |
|
Gross
Unrealized
Losses(1)
|
Corporate debt securities |
$ |
94,448 |
|
|
$ |
(140 |
) |
U.S. Government agency securities |
40,306 |
|
|
(14 |
) |
Sovereign securities |
19,341 |
|
|
(5 |
) |
Total |
$ |
154,095 |
|
|
$ |
(159 |
) |
__________________
|
|
(1) |
As of June 30, 2016, 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 Consolidated Balance Sheet, as of the date indicated below were as follows:
|
|
|
|
|
|
|
|
|
As of June 30, 2016 (In thousands) |
Amortized
Cost
|
|
Fair Value |
Due within one year |
$ |
468,650 |
|
|
$ |
468,985 |
|
Due after one year through three years |
909,893 |
|
|
913,821 |
|
|
$ |
1,378,543 |
|
|
$ |
1,382,806 |
|
|