| Summary of Marketable Securities |
The amortized cost and fair value of marketable securities as of the dates indicated below were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of March 31, 2019 (In thousands) |
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair
Value
|
Corporate debt securities |
$ |
441,279 |
|
|
$ |
43 |
|
|
$ |
(2,076 |
) |
|
$ |
439,246 |
|
Money market funds and other |
592,141 |
|
|
— |
|
|
— |
|
|
592,141 |
|
Sovereign securities |
11,037 |
|
|
— |
|
|
(46 |
) |
|
10,991 |
|
U.S. Government agency securities |
166,867 |
|
|
1 |
|
|
(776 |
) |
|
166,092 |
|
U.S. Treasury securities |
188,283 |
|
|
— |
|
|
(1,203 |
) |
|
187,080 |
|
Subtotal |
1,399,607 |
|
|
44 |
|
|
(4,101 |
) |
|
1,395,550 |
|
Add: Time deposits(1)
|
54,986 |
|
|
— |
|
|
— |
|
|
54,986 |
|
Less: Cash equivalents |
645,431 |
|
|
— |
|
|
— |
|
|
645,431 |
|
Marketable securities |
$ |
809,162 |
|
|
$ |
44 |
|
|
$ |
(4,101 |
) |
|
$ |
805,105 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
________________
(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 our investments that were in an unrealized loss position as of the date indicated below:
|
|
|
|
|
|
|
|
|
As of March 31, 2019 (In thousands) |
Fair Value |
|
Gross
Unrealized
Losses(1)
|
Corporate debt securities |
$ |
397,009 |
|
|
$ |
(2,076 |
) |
U.S. Treasury securities |
187,080 |
|
|
(1,203 |
) |
U.S. Government agency securities |
163,445 |
|
|
(776 |
) |
Sovereign securities |
10,991 |
|
|
(46 |
) |
Total |
$ |
758,525 |
|
|
$ |
(4,101 |
) |
__________________
(1) As of March 31, 2019, we had investments in a continuous loss position for 12 months or more with a gross amount $4.1 million.
|
| Contractual Maturities of Securities |
The contractual maturities of securities classified as available-for-sale, regardless of their classification on our Condensed Consolidated Balance Sheet, as of the date indicated below were as follows:
|
|
|
|
|
|
|
|
|
As of March 31, 2019 (In thousands) |
Amortized Cost |
|
Fair Value |
Due within one year |
$ |
606,043 |
|
|
$ |
603,536 |
|
Due after one year through three years |
203,119 |
|
|
201,569 |
|
|
$ |
809,162 |
|
|
$ |
805,105 |
|
|