| 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:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| As of March 31, 2026 (In thousands) |
Amortized
Cost |
|
Gross
Unrealized
Gains |
|
Gross
Unrealized
Losses |
|
Fair
Value |
| Corporate debt securities |
$ |
1,194,203 |
|
|
$ |
1,851 |
|
|
$ |
(1,428) |
|
|
$ |
1,194,626 |
|
| Money market funds and other |
1,401,575 |
|
|
— |
|
|
— |
|
|
1,401,575 |
|
| Municipal securities |
38,648 |
|
|
54 |
|
|
(5) |
|
|
38,697 |
|
| Sovereign securities |
51,985 |
|
|
— |
|
|
(23) |
|
|
51,962 |
|
| U.S. Government agency securities |
98,771 |
|
|
265 |
|
|
(86) |
|
|
98,950 |
|
| U.S. Treasury securities |
1,400,879 |
|
|
1,365 |
|
|
(3,073) |
|
|
1,399,171 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Subtotal |
4,186,061 |
|
|
3,535 |
|
|
(4,615) |
|
|
4,184,981 |
|
Add: Time deposits(1)
|
438,179 |
|
|
— |
|
|
— |
|
|
438,179 |
|
| Less: Cash equivalents |
1,495,035 |
|
|
— |
|
|
(4) |
|
|
1,495,031 |
|
Marketable securities(2)
|
$ |
3,129,205 |
|
|
$ |
3,535 |
|
|
$ |
(4,611) |
|
|
$ |
3,128,129 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 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 |
|
|
129 |
|
|
(1) |
|
|
57,573 |
|
|
|
|
|
|
|
|
|
| U.S. Government agency securities |
116,436 |
|
|
458 |
|
|
(58) |
|
|
116,836 |
|
| U.S. Treasury securities |
885,101 |
|
|
2,787 |
|
|
(329) |
|
|
887,559 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Subtotal |
3,547,260 |
|
|
7,830 |
|
|
(454) |
|
|
3,554,636 |
|
Add: Time deposits(1)
|
478,191 |
|
|
— |
|
|
— |
|
|
478,191 |
|
| Less: Cash equivalents |
1,641,074 |
|
|
1 |
|
|
(1) |
|
|
1,641,074 |
|
Marketable securities(2)
|
$ |
2,384,377 |
|
|
$ |
7,829 |
|
|
$ |
(453) |
|
|
$ |
2,391,753 |
|
________________
(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 March 31, 2026 |
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 |
$ |
510,703 |
|
|
$ |
(1,428) |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
510,703 |
|
|
$ |
(1,428) |
|
| Municipal securities |
10,794 |
|
|
(5) |
|
|
— |
|
|
— |
|
|
10,794 |
|
|
(5) |
|
| Sovereign securities |
51,962 |
|
|
(23) |
|
|
— |
|
|
— |
|
|
51,962 |
|
|
(23) |
|
| U.S. Government agency securities |
38,937 |
|
|
(86) |
|
|
— |
|
|
— |
|
|
38,937 |
|
|
(86) |
|
| U.S. Treasury securities |
883,043 |
|
|
(3,073) |
|
|
— |
|
|
— |
|
|
883,043 |
|
|
(3,073) |
|
| Total |
$ |
1,495,439 |
|
|
$ |
(4,615) |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
1,495,439 |
|
|
$ |
(4,615) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 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) |
|
|
20,330 |
|
|
(32) |
|
|
258,957 |
|
|
(329) |
|
| Total |
$ |
375,330 |
|
|
$ |
(419) |
|
|
$ |
22,858 |
|
|
$ |
(35) |
|
|
$ |
398,188 |
|
|
$ |
(454) |
|
|
| 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:
|
|
|
|
|
|
|
|
|
|
|
|
| As of March 31, 2026 (In thousands) |
Amortized Cost |
|
Fair Value |
| Due within one year |
$ |
1,464,028 |
|
|
$ |
1,465,331 |
|
| Due after one year through three years |
1,665,177 |
|
|
1,662,798 |
|
| Total |
$ |
3,129,205 |
|
|
$ |
3,128,129 |
|
|