| 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, 2018 (In thousands) |
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair Value |
Corporate debt securities |
$ |
747,763 |
|
|
$ |
148 |
|
|
$ |
(7,508 |
) |
|
$ |
740,403 |
|
Money market funds and other |
863,115 |
|
|
— |
|
|
— |
|
|
863,115 |
|
Sovereign securities |
17,293 |
|
|
— |
|
|
(151 |
) |
|
17,142 |
|
U.S. Government agency securities |
326,508 |
|
|
16 |
|
|
(2,827 |
) |
|
323,697 |
|
U.S. Treasury securities |
411,329 |
|
|
3 |
|
|
(3,682 |
) |
|
407,650 |
|
Subtotal |
2,366,008 |
|
|
167 |
|
|
(14,168 |
) |
|
2,352,007 |
|
Add: Time deposits(1)
|
54,537 |
|
|
— |
|
|
— |
|
|
54,537 |
|
Less: Cash equivalents |
930,608 |
|
|
— |
|
|
— |
|
|
930,608 |
|
Marketable securities |
$ |
1,489,937 |
|
|
$ |
167 |
|
|
$ |
(14,168 |
) |
|
$ |
1,475,936 |
|
|
|
|
|
|
|
|
|
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 |
|
__________________
(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, 2018 (In thousands) |
Fair Value |
|
Gross
Unrealized
Losses(1)
|
Corporate debt securities |
$ |
648,552 |
|
|
$ |
(7,508 |
) |
U.S. Treasury securities |
380,753 |
|
|
(3,682 |
) |
U.S. Government agency securities |
293,836 |
|
|
(2,827 |
) |
Sovereign securities |
17,143 |
|
|
(151 |
) |
Total |
$ |
1,340,284 |
|
|
$ |
(14,168 |
) |
__________________
|
|
(1) |
As of June 30, 2018, the amount of total gross unrealized losses related to investments that had been in a continuous loss position for 12 months or more was $5.3 million.
|
|
| 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, 2018 (In thousands) |
Amortized
Cost
|
|
Fair Value |
Due within one year |
$ |
750,665 |
|
|
$ |
746,978 |
|
Due after one year through three years |
739,272 |
|
|
728,958 |
|
|
$ |
1,489,937 |
|
|
$ |
1,475,936 |
|
|