Annual report [Section 13 and 15(d), not S-K Item 405]

FAIR VALUE MEASUREMENTS

v3.26.1
FAIR VALUE MEASUREMENTS
 12 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
Financial assets (excluding cash held in operating accounts and time deposits) and liabilities measured at fair value on a recurring basis as of the dates indicated below were presented on our Consolidated Balance Sheets as follows:
As of June 30, 2026 (In thousands) Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2)
Assets
Cash equivalents:
Municipal securities $ 6,016  $ —  $ 6,016 
Corporate debt securities 6,075  —  6,075 
Money market funds and other 1,233,035  1,233,035  — 
Sovereign securities 999  —  999 
Marketable securities:
Corporate debt securities 1,297,450  —  1,297,450 
Municipal securities 17,403  —  17,403 
Sovereign securities 39,219  —  39,219 
U.S. Government agency securities 75,742  75,742  — 
U.S. Treasury securities 1,355,711  1,275,725  79,986 
Equity securities
 46,772  46,772  — 
Total cash equivalents and marketable securities(1)
4,078,422  2,631,274  1,447,148 
Other current assets:
Derivative assets 41,821  —  41,821 
Interest rate swap assets 2,534  —  2,534 
Other non-current assets:
EDSP assets 416,389  398,414  17,975 
Interest rate swap assets 6,990  —  6,990 
Long-term accounts receivable, net 180,729  —  180,729 
Total financial assets(1)
$ 4,726,885  $ 3,029,688  $ 1,697,197 
Liabilities
Other current liabilities:
Derivative liabilities $ (12,546) $ —  $ (12,546)
Other non-current liabilities:
Interest rate swap liabilities (10,107) —  (10,107)
Total financial liabilities $ (22,653) $ —  $ (22,653)
__________________
(1)Excludes cash of $333.8 million held in operating accounts and time deposits of $490.2 million (of which $70.0 million were cash equivalents) as of June 30, 2026.
As of June 30, 2025 (In thousands) Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2)
Assets
Cash equivalents:
Municipal securities $ 6,120  $ —  $ 6,120 
Corporate debt securities 1,498  —  1,498 
Money market funds and other 1,531,022  1,531,022  — 
U.S. Government agency securities 9,955  —  9,955 
U.S. Treasury securities 9,981  —  9,981 
Marketable securities:
Corporate debt securities 960,148  —  960,148 
Municipal securities 51,453  —  51,453 
U.S. Government agency securities 106,881  106,881  — 
U.S. Treasury securities 877,578  802,682  74,896 
Equity securities
 23,962  23,962  — 
Total cash equivalents and marketable securities(1)
3,578,598  2,464,547  1,114,051 
Other current assets:
Derivative assets 59,503  —  59,503 
Other non-current assets:
EDSP assets 349,530  336,090  13,440 
Total financial assets(1)
$ 3,987,631  $ 2,800,637  $ 1,186,994 
Liabilities
Other current liabilities:
Derivative liabilities $ (28,615) $ —  $ (28,615)
Total financial liabilities $ (28,615) $ —  $ (28,615)
__________________
(1)Excludes cash of $437.8 million held in operating accounts and time deposits of $478.2 million (of which $82.5 million were cash equivalents) as of June 30, 2025.
We did not have any financial assets or liabilities measured at fair value on a recurring basis within Level 3 fair value measurements as of June 30, 2026 or June 30, 2025.