| 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, 2013 (In thousands) |
Amortized
Cost
|
|
Gross
Unrealized
Gains
|
|
Gross
Unrealized
Losses
|
|
Fair Value |
U.S. Treasury securities |
$ |
93,940 |
|
|
$ |
53 |
|
|
$ |
(206 |
) |
|
$ |
93,787 |
|
U.S. Government agency securities |
598,471 |
|
|
569 |
|
|
(1,009 |
) |
|
598,031 |
|
Municipal securities |
103,686 |
|
|
71 |
|
|
(302 |
) |
|
103,455 |
|
Corporate debt securities |
1,103,438 |
|
|
2,353 |
|
|
(2,466 |
) |
|
1,103,325 |
|
Money market and other |
817,608 |
|
|
— |
|
|
— |
|
|
817,608 |
|
Sovereign securities |
33,799 |
|
|
25 |
|
|
(19 |
) |
|
33,805 |
|
Subtotal |
2,750,942 |
|
|
3,071 |
|
|
(4,002 |
) |
|
2,750,011 |
|
Add: Time deposits(1)
|
43,413 |
|
|
— |
|
|
— |
|
|
43,413 |
|
Less: Cash equivalents |
859,933 |
|
|
— |
|
|
— |
|
|
859,933 |
|
Marketable securities |
$ |
1,934,422 |
|
|
$ |
3,071 |
|
|
$ |
(4,002 |
) |
|
$ |
1,933,491 |
|
|
|
|
|
|
|
|
|
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 June 30, 2013 (In thousands) |
Fair Value |
|
Gross
Unrealized
Losses(1)
|
U.S. Treasury securities |
$ |
50,475 |
|
|
$ |
(206 |
) |
U.S. Government agency securities |
323,053 |
|
|
(1,009 |
) |
Municipal securities |
56,919 |
|
|
(302 |
) |
Corporate debt securities |
595,513 |
|
|
(2,466 |
) |
Sovereign securities |
21,088 |
|
|
(19 |
) |
Total |
$ |
1,047,048 |
|
|
$ |
(4,002 |
) |
__________________
|
|
(1) |
As of June 30, 2013, the amount of total gross unrealized losses 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, 2013 (In thousands) |
Amortized
Cost
|
|
Fair Value |
Due within one year |
$ |
457,403 |
|
|
$ |
458,051 |
|
Due after one year through three years |
1,477,019 |
|
|
1,475,440 |
|
|
$ |
1,934,422 |
|
|
$ |
1,933,491 |
|
|