| Summary of Marketable Securities |
The amortized cost and fair value of marketable securities as of the dates indicated below were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2012 (In thousands) |
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair
Value
|
U.S. Treasury securities |
$ |
91,927 |
|
|
$ |
151 |
|
|
$ |
(3 |
) |
|
$ |
92,075 |
|
U.S. Government agency securities |
579,062 |
|
|
1,240 |
|
|
(6 |
) |
|
580,296 |
|
Municipal securities |
77,595 |
|
|
87 |
|
|
(88 |
) |
|
77,594 |
|
Corporate debt securities |
1,003,918 |
|
|
4,796 |
|
|
(336 |
) |
|
1,008,378 |
|
Money market and other |
617,113 |
|
|
— |
|
|
— |
|
|
617,113 |
|
Sovereign securities |
17,191 |
|
|
57 |
|
|
(3 |
) |
|
17,245 |
|
Equity securities |
350 |
|
|
7 |
|
|
— |
|
|
357 |
|
Subtotal |
2,387,156 |
|
|
6,338 |
|
|
(436 |
) |
|
2,393,058 |
|
Add: Time deposits(1)
|
59,467 |
|
|
— |
|
|
— |
|
|
59,467 |
|
Less: Cash equivalents |
641,585 |
|
|
— |
|
|
— |
|
|
641,585 |
|
Marketable securities |
$ |
1,805,038 |
|
|
$ |
6,338 |
|
|
$ |
(436 |
) |
|
$ |
1,810,940 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
________________
|
|
(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 December 31, 2012 (In thousands) |
Fair Value |
|
Gross
Unrealized
Losses(1)
|
U.S. Treasury securities |
$ |
4,999 |
|
|
$ |
(3 |
) |
U.S. Government agency securities |
37,083 |
|
|
(6 |
) |
Municipal securities |
30,399 |
|
|
(88 |
) |
Corporate debt securities |
200,660 |
|
|
(336 |
) |
Sovereign securities |
966 |
|
|
(3 |
) |
Total |
$ |
274,107 |
|
|
$ |
(436 |
) |
__________________
|
|
(1) |
Of the total gross unrealized losses, there were no amounts that, as of December 31, 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 Condensed Consolidated Balance Sheet, as of the date indicated below were as follows:
|
|
|
|
|
|
|
|
|
As of December 31, 2012 (In thousands) |
Amortized Cost |
|
Fair Value |
Due within one year |
$ |
355,965 |
|
|
$ |
356,693 |
|
Due after one year through three years |
1,449,073 |
|
|
1,454,247 |
|
|
$ |
1,805,038 |
|
|
$ |
1,810,940 |
|
|