| 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, 2017 (In thousands) |
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair Value |
Corporate debt securities |
$ |
1,120,548 |
|
|
$ |
598 |
|
|
$ |
(1,951 |
) |
|
$ |
1,119,195 |
|
Money market funds and other |
616,039 |
|
|
— |
|
|
— |
|
|
616,039 |
|
Sovereign securities |
52,621 |
|
|
— |
|
|
(56 |
) |
|
52,565 |
|
U.S. Government agency securities |
510,553 |
|
|
62 |
|
|
(1,789 |
) |
|
508,826 |
|
U.S. Treasury securities |
374,676 |
|
|
52 |
|
|
(1,429 |
) |
|
373,299 |
|
Subtotal |
2,674,437 |
|
|
712 |
|
|
(5,225 |
) |
|
2,669,924 |
|
Add: Time deposits(1)
|
39,389 |
|
|
— |
|
|
— |
|
|
39,389 |
|
Less: Cash equivalents |
845,639 |
|
|
— |
|
|
(15 |
) |
|
845,624 |
|
Marketable securities |
$ |
1,868,187 |
|
|
$ |
712 |
|
|
$ |
(5,210 |
) |
|
$ |
1,863,689 |
|
|
|
|
|
|
|
|
|
As of June 30, 2016 (In thousands) |
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair Value |
Corporate debt securities |
$ |
676,259 |
|
|
$ |
2,372 |
|
|
$ |
(157 |
) |
|
$ |
678,474 |
|
Money market funds and other |
626,156 |
|
|
— |
|
|
— |
|
|
626,156 |
|
Municipal securities |
5,014 |
|
|
2 |
|
|
— |
|
|
5,016 |
|
Sovereign securities |
41,224 |
|
|
38 |
|
|
(5 |
) |
|
41,257 |
|
U.S. Government agency securities |
404,889 |
|
|
830 |
|
|
(14 |
) |
|
405,705 |
|
U.S. Treasury securities |
326,321 |
|
|
1,181 |
|
|
— |
|
|
327,502 |
|
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 |
|
__________________
(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, 2017 (In thousands) |
Fair Value |
|
Gross
Unrealized
Losses(1)
|
Corporate debt securities |
$ |
716,934 |
|
|
$ |
(1,940 |
) |
U.S. Government agency securities |
328,868 |
|
|
(1,786 |
) |
U.S. Treasury securities |
324,555 |
|
|
(1,429 |
) |
Sovereign securities |
42,515 |
|
|
(55 |
) |
Total |
$ |
1,412,872 |
|
|
$ |
(5,210 |
) |
__________________
|
|
(1) |
As of June 30, 2017, 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, 2017 (In thousands) |
Amortized
Cost
|
|
Fair Value |
Due within one year |
$ |
661,679 |
|
|
$ |
661,184 |
|
Due after one year through three years |
1,206,508 |
|
|
1,202,505 |
|
|
$ |
1,868,187 |
|
|
$ |
1,863,689 |
|
|