Schedule of Marketable Securities |
The amortized cost and fair value of our fixed income marketable securities as of the dates indicated below were as follows:
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As of March 31, 2025 (In thousands) |
Amortized Cost |
|
Gross Unrealized Gains |
|
Gross Unrealized Losses |
|
Fair Value |
Corporate debt securities |
$ |
968,847 |
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|
$ |
3,699 |
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|
$ |
(98) |
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|
$ |
972,448 |
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Money market funds and other |
1,275,947 |
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|
— |
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|
— |
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|
1,275,947 |
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Municipal securities |
55,416 |
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|
137 |
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(13) |
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|
55,540 |
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|
|
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U.S. Government agency securities |
95,736 |
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|
369 |
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(54) |
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|
96,051 |
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U.S. Treasury securities |
800,978 |
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|
2,301 |
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(431) |
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|
802,848 |
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Subtotal |
3,196,924 |
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6,506 |
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(596) |
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3,202,834 |
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Add: Time deposits(1)
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340,461 |
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— |
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— |
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340,461 |
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Less: Cash equivalents |
1,384,950 |
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— |
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— |
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1,384,950 |
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Marketable securities(2)
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$ |
2,152,435 |
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|
$ |
6,506 |
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|
$ |
(596) |
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|
$ |
2,158,345 |
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As of June 30, 2024 (In thousands) |
Amortized Cost |
|
Gross Unrealized Gains |
|
Gross Unrealized Losses |
|
Fair Value |
Corporate debt securities |
$ |
775,277 |
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|
$ |
973 |
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|
$ |
(2,018) |
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|
$ |
774,232 |
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Money market funds and other |
1,585,832 |
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— |
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— |
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|
1,585,832 |
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Municipal securities |
41,343 |
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13 |
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(197) |
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|
41,159 |
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U.S. Government agency securities |
106,101 |
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|
26 |
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(253) |
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|
105,874 |
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U.S. Treasury securities |
754,505 |
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|
209 |
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(3,408) |
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|
751,306 |
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Subtotal |
3,263,058 |
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|
1,221 |
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(5,876) |
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3,258,403 |
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Add: Time deposits(1)
|
932,436 |
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— |
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— |
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|
932,436 |
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Less: Cash equivalents |
1,689,540 |
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— |
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(1) |
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1,689,539 |
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Marketable securities(2)
|
$ |
2,505,954 |
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|
$ |
1,221 |
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|
$ |
(5,875) |
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$ |
2,501,300 |
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________________
(1) Time deposits excluded from fair value measurements.
(2) Excludes equity marketable securities.
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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.
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As of March 31, 2025 |
Less than 12 Months |
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12 Months or Greater |
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Total |
(In thousands) |
Fair Value |
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Gross Unrealized Losses |
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Fair Value |
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Gross Unrealized Losses |
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Fair Value |
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Gross Unrealized Losses |
Corporate debt securities |
$ |
116,450 |
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|
$ |
(83) |
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$ |
13,499 |
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|
$ |
(15) |
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$ |
129,949 |
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$ |
(98) |
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Municipal securities |
7,937 |
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(10) |
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|
2,012 |
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(3) |
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|
9,949 |
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(13) |
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U.S. Government agency securities |
25,326 |
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(54) |
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|
— |
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|
— |
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|
25,326 |
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(54) |
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U.S. Treasury securities |
175,173 |
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(306) |
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38,443 |
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(125) |
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|
213,616 |
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(431) |
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Total |
$ |
324,886 |
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$ |
(453) |
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$ |
53,954 |
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$ |
(143) |
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$ |
378,840 |
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$ |
(596) |
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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 |
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|
$ |
(942) |
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$ |
100,957 |
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$ |
(1,076) |
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$ |
456,839 |
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$ |
(2,018) |
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Municipal securities |
17,364 |
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(81) |
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|
10,788 |
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(116) |
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|
28,152 |
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(197) |
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U.S. Government agency securities |
58,598 |
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(137) |
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|
17,197 |
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(116) |
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|
75,795 |
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(253) |
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U.S. Treasury securities |
466,144 |
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(1,040) |
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|
166,867 |
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(2,368) |
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|
633,011 |
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(3,408) |
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Total |
$ |
897,988 |
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$ |
(2,200) |
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|
$ |
295,809 |
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$ |
(3,676) |
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$ |
1,193,797 |
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|
$ |
(5,876) |
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|
Schedule of Contractual Maturities of Securities |
The contractual maturities of securities classified as available-for-sale, regardless of their classification on our Condensed Consolidated Balance Sheets, as of the date indicated below were as follows:
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As of March 31, 2025 (In thousands) |
Amortized Cost |
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Fair Value |
Due within one year |
$ |
1,126,524 |
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$ |
1,127,648 |
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Due after one year through three years |
1,025,911 |
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|
1,030,697 |
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Total |
$ |
2,152,435 |
|
|
$ |
2,158,345 |
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