| 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:
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| As of June 30, 2025 (In thousands) |
Amortized Cost |
|
Gross Unrealized Gains |
|
Gross Unrealized Losses |
|
Fair Value |
| Corporate debt securities |
$ |
957,256 |
|
|
$ |
4,456 |
|
|
$ |
(66) |
|
|
$ |
961,646 |
|
| Money market funds and other |
1,531,022 |
|
|
— |
|
|
— |
|
|
1,531,022 |
|
| Municipal securities |
57,445 |
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|
129 |
|
|
(1) |
|
|
57,573 |
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|
|
|
|
|
|
|
|
| U.S. Government agency securities |
116,436 |
|
|
458 |
|
|
(58) |
|
|
116,836 |
|
| U.S. Treasury securities |
885,101 |
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|
2,787 |
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|
(329) |
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|
887,559 |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
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| Subtotal |
3,547,260 |
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|
7,830 |
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|
(454) |
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|
3,554,636 |
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Add: Time deposits(1)
|
478,191 |
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|
— |
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|
— |
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|
478,191 |
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| Less: Cash equivalents |
1,641,074 |
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|
1 |
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|
(1) |
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|
1,641,074 |
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Marketable securities(2)
|
$ |
2,384,377 |
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|
$ |
7,829 |
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|
$ |
(453) |
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|
$ |
2,391,753 |
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|
|
|
|
|
|
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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 |
|
|
$ |
973 |
|
|
$ |
(2,018) |
|
|
$ |
774,232 |
|
| Money market funds and other |
1,585,832 |
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|
— |
|
|
— |
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|
1,585,832 |
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| Municipal securities |
41,343 |
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|
13 |
|
|
(197) |
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|
41,159 |
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|
|
|
|
|
|
|
|
| U.S. Government agency securities |
106,101 |
|
|
26 |
|
|
(253) |
|
|
105,874 |
|
| U.S. Treasury securities |
754,505 |
|
|
209 |
|
|
(3,408) |
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|
751,306 |
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|
|
|
|
|
|
|
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|
|
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|
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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) |
|
|
1,689,539 |
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Marketable securities(2)
|
$ |
2,505,954 |
|
|
$ |
1,221 |
|
|
$ |
(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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|
|
|
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|
|
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|
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| As of June 30, 2025 |
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 |
$ |
98,149 |
|
|
$ |
(63) |
|
|
$ |
2,528 |
|
|
$ |
(3) |
|
|
$ |
100,677 |
|
|
$ |
(66) |
|
| Municipal securities |
5,774 |
|
|
(1) |
|
|
— |
|
|
— |
|
|
5,774 |
|
|
(1) |
|
|
|
|
|
|
|
|
|
|
|
|
|
| U.S. Government agency securities |
32,780 |
|
|
(58) |
|
|
— |
|
|
— |
|
|
32,780 |
|
|
(58) |
|
| U.S. Treasury securities |
238,627 |
|
|
(297) |
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|
20,330 |
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|
(32) |
|
|
258,957 |
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|
(329) |
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| Total |
$ |
375,330 |
|
|
$ |
(419) |
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|
$ |
22,858 |
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|
$ |
(35) |
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|
$ |
398,188 |
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|
$ |
(454) |
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|
|
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|
|
|
|
|
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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 |
|
|
$ |
(942) |
|
|
$ |
100,957 |
|
|
$ |
(1,076) |
|
|
$ |
456,839 |
|
|
$ |
(2,018) |
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| Municipal securities |
17,364 |
|
|
(81) |
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|
10,788 |
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|
(116) |
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|
28,152 |
|
|
(197) |
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|
|
|
|
|
|
|
|
|
|
|
|
| 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) |
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| Total |
$ |
897,988 |
|
|
$ |
(2,200) |
|
|
$ |
295,809 |
|
|
$ |
(3,676) |
|
|
$ |
1,193,797 |
|
|
$ |
(5,876) |
|
|
| 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:
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| As of June 30, 2025 (In thousands) |
Amortized Cost |
|
Fair Value |
| Due within one year |
$ |
1,244,804 |
|
|
$ |
1,246,095 |
|
| Due after one year through three years |
1,139,573 |
|
|
1,145,658 |
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| Total |
$ |
2,384,377 |
|
|
$ |
2,391,753 |
|
|