MARKETABLE SECURITIES (Tables)
|
12 Months Ended |
Jun. 30, 2024 |
|---|
| Investments, Debt and Equity Securities [Abstract] |
|
| Schedule of Amortized Cost and Fair Value of Fixed Income Marketable Securities |
The amortized cost and fair value of our fixed income marketable securities as of the dates indicated below were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| As of June 30, 2024 (In thousands) |
Amortized
Cost |
|
Gross
Unrealized
Gains |
|
Gross
Unrealized
Losses |
|
Fair Value |
| Corporate debt securities |
$ |
775,277 |
|
|
$ |
973 |
|
|
$ |
(2,018) |
|
|
$ |
774,232 |
|
| Money market funds and other |
1,585,832 |
|
|
— |
|
|
— |
|
|
1,585,832 |
|
| Municipal securities |
41,343 |
|
|
13 |
|
|
(197) |
|
|
41,159 |
|
|
|
|
|
|
|
|
|
| U.S. Government agency securities |
106,101 |
|
|
26 |
|
|
(253) |
|
|
105,874 |
|
| U.S. Treasury securities |
754,505 |
|
|
209 |
|
|
(3,408) |
|
|
751,306 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Subtotal |
3,263,058 |
|
|
1,221 |
|
|
(5,876) |
|
|
3,258,403 |
|
Add: Time deposits(1)
|
932,436 |
|
|
— |
|
|
— |
|
|
932,436 |
|
| Less: Cash equivalents |
1,689,540 |
|
|
— |
|
|
(1) |
|
|
1,689,539 |
|
Marketable securities(2)
|
$ |
2,505,954 |
|
|
$ |
1,221 |
|
|
$ |
(5,875) |
|
|
$ |
2,501,300 |
|
|
|
|
|
|
|
|
|
| As of June 30, 2023 (In thousands) |
Amortized
Cost |
|
Gross
Unrealized
Gains |
|
Gross
Unrealized
Losses |
|
Fair Value |
| Corporate debt securities |
$ |
508,511 |
|
|
$ |
52 |
|
|
$ |
(5,913) |
|
|
$ |
502,650 |
|
| Money market funds and other |
1,257,223 |
|
|
— |
|
|
— |
|
|
1,257,223 |
|
| Municipal securities |
32,525 |
|
|
— |
|
|
(737) |
|
|
31,788 |
|
|
|
|
|
|
|
|
|
| U.S. Government agency securities |
134,486 |
|
|
4 |
|
|
(918) |
|
|
133,572 |
|
| U.S. Treasury securities |
538,487 |
|
|
10 |
|
|
(8,782) |
|
|
529,715 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Subtotal |
2,471,232 |
|
|
66 |
|
|
(16,350) |
|
|
2,454,948 |
|
Add: Time deposits(1)
|
471,439 |
|
|
— |
|
|
— |
|
|
471,439 |
|
| Less: Cash equivalents |
1,629,248 |
|
|
4 |
|
|
— |
|
|
1,629,252 |
|
Marketable securities(2)
|
$ |
1,313,423 |
|
|
$ |
62 |
|
|
$ |
(16,350) |
|
|
$ |
1,297,135 |
|
__________________
(1)Time deposits excluded from fair value measurements.
(2)Excludes equity marketable securities.
|
| Schedule of Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value |
The following table summarizes the fair value and gross unrealized losses of our investments that were in an unrealized loss position as of the dates indicated below:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| As of June 30, 2024 |
Less than 12 Months |
|
12 Months or Greater |
|
Total |
| (In thousands) |
Fair Value |
|
Gross
Unrealized
Losses |
|
Fair Value |
|
Gross
Unrealized
Losses |
|
Fair Value |
|
Gross
Unrealized
Losses |
| Corporate debt securities |
$ |
355,882 |
|
|
$ |
(942) |
|
|
$ |
100,957 |
|
|
$ |
(1,076) |
|
|
$ |
456,839 |
|
|
$ |
(2,018) |
|
| Municipal securities |
17,364 |
|
|
(81) |
|
|
10,788 |
|
|
(116) |
|
|
28,152 |
|
|
(197) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| U.S. Government agency securities |
58,598 |
|
|
(137) |
|
|
17,197 |
|
|
(116) |
|
|
75,795 |
|
|
(253) |
|
| U.S. Treasury securities |
466,144 |
|
|
(1,040) |
|
|
166,867 |
|
|
(2,368) |
|
|
633,011 |
|
|
(3,408) |
|
| Total |
$ |
897,988 |
|
|
$ |
(2,200) |
|
|
$ |
295,809 |
|
|
$ |
(3,676) |
|
|
$ |
1,193,797 |
|
|
$ |
(5,876) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| As of June 30, 2023 |
Less than 12 Months |
|
12 Months or Greater |
|
Total |
| (In thousands) |
Fair Value |
|
Gross
Unrealized
Losses |
|
Fair Value |
|
Gross
Unrealized
Losses |
|
Fair Value |
|
Gross
Unrealized
Losses |
| Corporate debt securities |
$ |
310,613 |
|
|
$ |
(2,242) |
|
|
$ |
161,263 |
|
|
$ |
(3,671) |
|
|
$ |
471,876 |
|
|
$ |
(5,913) |
|
| Municipal securities |
9,011 |
|
|
(199) |
|
|
17,253 |
|
|
(538) |
|
|
26,264 |
|
|
(737) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| U.S. Government agency securities |
80,793 |
|
|
(459) |
|
|
36,406 |
|
|
(459) |
|
|
117,199 |
|
|
(918) |
|
| U.S. Treasury securities |
288,376 |
|
|
(4,117) |
|
|
183,475 |
|
|
(4,665) |
|
|
471,851 |
|
|
(8,782) |
|
| Total |
$ |
688,793 |
|
|
$ |
(7,017) |
|
|
$ |
398,397 |
|
|
$ |
(9,333) |
|
|
$ |
1,087,190 |
|
|
$ |
(16,350) |
|
|
| Schedule of Contractual Maturities of Securities |
The contractual maturities of securities classified as available-for-sale, regardless of their classification on our Consolidated Balance Sheets, as of the date indicated below were as follows:
|
|
|
|
|
|
|
|
|
|
|
|
| As of June 30, 2024 (In thousands) |
Amortized
Cost |
|
Fair Value |
| Due within one year |
$ |
1,608,395 |
|
|
$ |
1,606,178 |
|
| Due after one year through three years |
897,559 |
|
|
895,122 |
|
|
$ |
2,505,954 |
|
|
$ |
2,501,300 |
|
|