| 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, 2012 (In thousands) |
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair Value |
U.S. Treasury securities |
$ |
91,387 |
|
|
$ |
67 |
|
|
$ |
(16 |
) |
|
$ |
91,438 |
|
U.S. Government agency securities |
633,587 |
|
|
981 |
|
|
(76 |
) |
|
634,492 |
|
Municipal securities |
66,538 |
|
|
107 |
|
|
(102 |
) |
|
66,543 |
|
Corporate debt securities |
914,134 |
|
|
3,826 |
|
|
(568 |
) |
|
917,392 |
|
Money market and other |
607,038 |
|
|
— |
|
|
— |
|
|
607,038 |
|
Sovereign securities |
29,056 |
|
|
89 |
|
|
— |
|
|
29,145 |
|
Equity securities |
10 |
|
|
— |
|
|
— |
|
|
10 |
|
Subtotal |
2,341,750 |
|
|
5,070 |
|
|
(762 |
) |
|
2,346,058 |
|
Add: Time deposits(1) |
62,431 |
|
|
— |
|
|
— |
|
|
62,431 |
|
Less: Cash equivalents |
625,339 |
|
|
— |
|
|
— |
|
|
625,339 |
|
Marketable securities |
$ |
1,778,842 |
|
|
$ |
5,070 |
|
|
$ |
(762 |
) |
|
$ |
1,783,150 |
|
|
|
|
|
|
|
|
|
As of June 30, 2011 (In thousands) |
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair Value |
U.S. Treasury securities |
$ |
58,754 |
|
|
$ |
165 |
|
|
$ |
(23 |
) |
|
$ |
58,896 |
|
U.S. Government agency securities |
319,375 |
|
|
931 |
|
|
(123 |
) |
|
320,183 |
|
Municipal securities |
38,688 |
|
|
275 |
|
|
(6 |
) |
|
38,957 |
|
Corporate debt securities |
870,591 |
|
|
5,162 |
|
|
(368 |
) |
|
875,385 |
|
Money market and other |
481,770 |
|
|
— |
|
|
— |
|
|
481,770 |
|
Sovereign securities |
31,932 |
|
|
179 |
|
|
(25 |
) |
|
32,086 |
|
Subtotal |
1,801,110 |
|
|
6,712 |
|
|
(545 |
) |
|
1,807,277 |
|
Add: Time deposits(1) |
65,402 |
|
|
— |
|
|
— |
|
|
65,402 |
|
Less: Cash equivalents |
545,475 |
|
|
— |
|
|
(2 |
) |
|
545,473 |
|
Marketable securities |
$ |
1,321,037 |
|
|
$ |
6,712 |
|
|
$ |
(543 |
) |
|
$ |
1,327,206 |
|
__________________
(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, 2012 (In thousands) |
Fair Value |
|
Gross
Unrealized
Losses(1)
|
U.S. Treasury securities |
$ |
47,093 |
|
|
$ |
(16 |
) |
U.S. Government agency securities |
115,894 |
|
|
(76 |
) |
Municipal securities |
38,399 |
|
|
(102 |
) |
Corporate debt securities |
225,186 |
|
|
(568 |
) |
Total |
$ |
426,572 |
|
|
$ |
(762 |
) |
__________________
|
|
(1) |
Of the total gross unrealized losses, there were no amounts that, as of June 30, 2012, had been in a continuous loss position for 12 months or more.
|
|
| 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, 2012 (In thousands) |
Amortized
Cost
|
|
Fair Value |
Due within one year |
$ |
464,939 |
|
|
$ |
466,044 |
|
Due after one year through three years |
1,313,903 |
|
|
1,317,106 |
|
|
$ |
1,778,842 |
|
|
$ |
1,783,150 |
|
|